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The report "Motor Control Centers Market by Type (Intelligent and Conventional), Voltage (Low and Medium), End-User (Industrial and Commercial), Standard (IEC and NEMA), Component, and Region - Global Forecast to 2024" The global motor control centers market is expected to grow from an estimated value of USD 5.3 billion in 2019 to USD 6.8 billion by 2024, at a CAGR of 5.0%, from 2019 to 2024. The global market is set to witness significant growth owing to the growing demand for industrial automation in developed regions and regulations promoting energy saving across major industries.
Browse 167 market data Tables and 38 Figures spread through 208 Pages and in-depth TOC on "Motor Control Centers Market - Global Forecast to 2024"
The low voltage segment is expected to hold the largest share of the motor control centers market, by voltage, during the forecast period
The low voltage segment includes up to 1 kV motor control centers. This segment is expected to hold the major share in 2019 owing to the widespread adoption of low voltage motors in various industries globally. Low voltage motor control centers are mainly used in the chemical & petrochemical, cement & manufacturing, food & beverage, oil & gas, and metals & mining. Asia Pacific is the largest low voltage motor control centers market because of rapid industrialization and urbanization in countries such as China and India. All these factors are expected to boost the low voltage motor control centers market.
Busbars are an alternative to traditional cabling and the largest motor control centers market, by component, during the forecast period
The busbars segment held the largest share of the motor control centers market in 2018. A busbar is the most important component of a motor control center as it acts as a common voltage point for all electrical equipment connected to the motor control center. The increase in the flexibility, efficiency, and reliability of busbars, and the elimination of the need for additional wires have led to the rising demand for busbars in the motor control centers market. Busbars are mainly used in utilities and industrial applications to deliver power to buildings and electrical loads, respectively.
The industrial segment is expected to be the fastest growing end-user of the motor control centers market
The industrial end-users of the motor control centers market is segmented into oil & gas, metals & mining, utilities, chemical & petrochemical, cement & manufacturing, and food & beverage industries. The industrial segment is expected to be the fastest growing motor control centers market from 2019 to 2024 owing to the inclination toward motorized automation worldwide. Moreover, increasing demand for electric motors in the aforementioned industries is also expected to drive the industrial segment of the motor control centers market.
Asia Pacific is expected to dominate the global motor control centers market
Asia Pacific is expected to dominate the global motor control centers market owing to the increasing industrialization and electricity demand in the region. China is expected to dominate the Asia Pacific motor control centers market. The motor control centers’ markets in countries such as China, India, and Japan are expected to grow at high rates. Increasing power generation capacity additions and industrialization projects in these countries are the main reasons spurring the growth of the motor control centers market.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the motor control centers market. These include ABB, Ltd. (Switzerland), Schneider Electric SE (France), Siemens AG (Germany), Eaton Corporation, PLC (Ireland), and Rockwell Automation, Inc. (US). The leading players are trying to establish themselves in the markets in developing economies and are adopting various strategies to increase their respective market share.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 newsletter@marketsandmarkets.com
According to the new market research report "Ring Main Unit Market by Type (Gas, Air, Oil, and Solid Dielectric), Installation (Outdoor, and Indoor), Application (Distribution Utilities, Industries, and Infrastructure & Transportation), Voltage Rating, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Ring Main Unit Market is expected to reach USD 2.5 billion by 2025 from an estimated value of USD 1.6 billion in 2020, at a CAGR of 9.3%. Capacity additions, increasing electricity demand, and industrialization projects in countries such as China, Japan, India, and South Korea are the main reasons spurring the growth of the Ring Main Unit Market. In India, factors such as rural electrification, adoption of smart grids, and substation automation projects are increasing the demand for ring main units. Due to the COVID-19 outbreak, the US has a negative growth rate of -2.45% in the manufacturing sector compared to -3.25% of China. India, Japan, and Europe registered a negative growth of -3.98%, 2.77%, and -2.89%, respectively, in their manufacturing sectors.
The distribution utilities segment is expected to be the largest Ring Main Unit Market, by application, during the forecast period
Increasing investments in power distribution networks due do the rise in urbanization in developing countries, along with the space constraints in densely populated areas, are expected to drive the market for ring main units in the distribution utilities segment. Global distribution utilities are facing various challenges such as aging workforce that cannot be replaced because of lack of skilled workforce. Also, COVID-19 has further exacerbated the situation because manual intervention in the field is still required. Because of the lockdown situation, utilities are at a standstill, which has led to losses for companies. This has had a negative impact on the Ring Main Unit Market.
Browse in-depth TOC on "Ring Main Unit Market" 110 – Tables 57 – Figures 169 – Pages
The outdoor segment is projected to account for a significant share of the ring main unit during the forecast period
The outdoor ring main unit segment is likely to dominate during the forecast period. Growing power consumption, ultimately leading to the expansion and upgradation of power grid, and increasing solar and wind energy installed capacity are expected to boost the demand for outdoor ring main units. COVID-19 has negatively impacted the power industry globally during the past two months. The demand curve for electricity has taken up new shapes, mainly in those countries where the impact of coronavirus is high. The decreasing demand for electricity is caused by lockdowns across countries to mitigate the spread of the virus. This will have a negative impact on the growth of the outdoor Ring Main Unit Market for a considerable period of time.
The gas insulated segment is projected to account for the largest share during the forecast period
The gas insulated segment is predicted to dominate the Ring Main Unit Market based on application. Growing demand from countries such as India, Japan, and China is the driving factor for the gas insulated Ring Main Unit Market. However, due to COVID-19, the market size for the gas insulated segment fell in 2020. Gas insulated ring main units require SF6 gas, and manufacturers of gas insulated ring main units are finding it hard to procure SF6 gas due to the ongoing lockdown restrictions.
Asia Pacific is projected to dominate the global Ring Main Unit Market during the forecast period
In this report, the Ring Main Unit Market has been analyzed concerning six regions, namely, Asia Pacific, North America, Europe, South America, Middle East, and Africa. Asia Pacific is expected to lead the market during the forecast period. Urbanization and industrialization, along with increasing rural electrification and electricity consumption in China, Japan, and India, are likely to drive the Ring Main Unit Market in the region.
To offer an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players such as ABB (Switzerland), Schneider Elecctric (France), Eaton (Ireland), Lucy Electric (UK), Larsen & Toubro (India), Siemens (Germany), C&S Electric (India), LS Electric (South Korea), Ormazabal (Spain), TIEPCO (Saudi Arabia), and ENTEC Electric & Electronic (South Korea).
Browse Related Reports: Microgrid Control System Market by Grid- Type (On-Grid and Off-grid), Component (Hardware and Software), Ownership (Private and Public), End-User (Utilities, Campuses and institutions, Commercial, and Industrial), and Region - Global Forecast to 2023
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact: Mr. Aashish Mehra|MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: newlettter@marketsandmarkets.com
The report "Transmission Sales Market by Type (Reciprocating, Rotary, Centrifugal, Axial Flow), Application (Artificial lift, Gas Processing Station, LNG & FPS, Storage & Facilities), Compression Media, End Users, and Region - Global Forecasts to 2024" The transmission sales market is expected to grow from an estimated market size of USD 15.2 billion in 2019 to USD 18.7 billion by 2024, registering a CAGR of 4.2% from 2019 to 2024. The transmission sales market is witnessing significant growth, which is driven by the growing shale gas production activities. Transmission Sales MarketBrowse 70 market data Tables and 45 Figures spread through 135 Pages and in-depth TOC on "Transmission Sales Market - Global Forecasts to 2024"
Based on type, the reciprocating segment is expected to hold the largest share of the market
The reciprocating segment is expected to dominate the transmission sales market during the forecast period. Applications of a reciprocating compressor include oil refineries, gas pipelines, chemical plants, natural gas processing plants, and refrigeration plants. These compressors are used in the oil & gas industry for compressing the gas for the main transmission through gas pipelines. This has helped the reciprocating segment to acquire the largest share in the transmission sales market.
This research report categorizes the transmission sales market by type, compression media, application, end-user, and region
On the basis of type, the transmission sales market has been segmented as follows:
Reciprocating
Rotary
Centrifugal
Axial Flow
On the basis of application, the transmission sales market has been segmented as follows:
Artificial Lift
Gas Processing Station
LNG & FPS
Storage & Facilities
Others
On the basis of end-user, the transmission sales market has been segmented as follows:
Oil & Gas
Power Generation
Water & Wastewater Management
Others
On the basis of compression media, the transmission sales market has been segmented as follows:
Air Compressor
Gas Compressor
On the basis of region, the transmission sales market has been segmented as follows:
Power generation is expected to be the fastest segment of the transmission sales market during the forecast period
The transmission sales market in this report has been classified based on end-user into oil & gas, power generation, water & wastewater management, and others. Power generation plants require compressors for gas turbine power plants, ash conveying, and fly ash handling, ensuring highest efficiency and operating reliability. The rising demand for power is triggering the need for additional power generation. This, coupled with the need to replace and modernize existing power plants, has resulted in the extensive use of gas turbine power plants. Compressors are used to maintain pipeline pressure in the power generation sector. Moreover, retrofit and modernization projects in Europe and North America are likely to boost the power plant segment of the transmission sales market.
Europe: the leading transmission sales market
In this report, the transmission sales market has been analyzed with respect to 5 regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe is expected to lead the Transmission sales market during the forecast period. The market in Europe is driven by the growth of the industrial sector and competitive growth in Eastern and Central Europe. This growth is influenced by increasing privatization and low-cost base. Compressors are used in manufacturing and processing sectors, which represent a major advancement in the adoption of newer technologies by customers. Its distinguishing features include high-quality compressed air, low energy consumption, reduced noise levels, and ease of maintenance. The major end-users driving the transmission sales market in the region are power generation, oil & gas, and water & wastewater management.
The report includes the profiles of some of the top players in the transmission sales market to enable an in-depth understanding of the competitive landscape. The key players in the transmission sales market include Caterpillar, Inc. (US), GE (US), Siemens (Germany), Gazprom (Russia), and Cummins (US). The leading players are adopting various strategies to increase their share in the transmission sales market.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 newsletter@marketsandmarkets.com
Browse 167 market data Tables and 38 Figures spread through 208 Pages and in-depth TOC on "Motor Control Centers Market - Global Forecast to 2024"
