DUBLIN--(BUSINESS WIRE)--The "India Motor Control Center Market, 2015-2026" report has been added to ResearchAndMarkets.com's offering.
Motor control center market in India is projected to grow from $ 427 million in 2021 to $ 582 million by 2026.
Anticipated growth in the Indian Motor Control Center Market can be attributed to growing urbanization and industrialization, increasing demand for industrial automation and mechanization, expansion of manufacturing sector, increasing industrial plant uptime, and rising use of electric motors in key industries such as chemicals & petrochemicals, power generation, metals and mining. Moreover, growing awareness and regulations pertaining to energy saving are further expected to positively influence the country's motor control center market.
The Indian Motor Control Center Market can be segmented based on type, voltage, component, standard, end-user industry and region. In terms of type, the market can be bifurcated into conventional and intelligent product type segments. In 2020, conventional motor control centers dominated the market, owing to the advantages offered by conventional motor control centers such as high level of safety, easy expansion and modification, quick and smooth maintenance, and high reliability and operability. However, intelligent motor control center market is expected to grow at a higher rate due to its remote diagnostic capabilities and advanced features such as loss detection and predictive maintenance to meet the industrial requirements.
Based on voltage segmentation, the market can be categorized into low, medium and high. Low voltage motor control centers are highly preferred in India because of their widespread adoption in various industries, which is likely to boost the demand for low voltage motor control centers during the forecast period. Low voltage motor control centers are mainly used in the chemicals and petrochemicals, paper and pulp, cement, food and beverage, automobile, oil and gas, cement, and textile industries.
In terms of end-user industry, motor control center market is segmented into Oil & Gas, Chemical & Petrochemicals, Energy & Utilities, Mining & Metals, and Others. Until 2019, the oil and gas industry dominated the motor control center market however, the segment is expected to witness a decline, owing to oil price downfall due to the negative effect of COVID-19. The oil price slump has resulted in cost cutting by oil and gas companies, which in turn is affecting the motor control center market.
Larsen& Toubro Limited, Vidhyut Power Private Limited, Rockwell Automation India Pvt. Ltd., ABB India Ltd., Siemens India, Schneider Electric India Pvt. Ltd., Eaton India, Fuji Electric India Pvt. Ltd, Mitsubishi Electric India Pvt. Ltd., and Rittal India Pvt. Ltd, are among the leading players operating in the Indian Motor Control Center Market.
Competitive Landscape
- Company Profiles: Detailed analysis of the major companies present in the Indian Motor Control Center Market.
- Voice of Customer: Price, Brand, Product Life, Availability, and After Sales Service are the major factors affecting decision related to motor control centers for various users in India.
Years considered for this report:
- Historical Years: 2015-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
Key Target Audience:
- Motor control center manufacturers, suppliers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to motor control centers
- Market research and consulting firms
The study is essential in delivering useful information to the industry stakeholders such as manufacturers, suppliers and end-users. The report also provides useful insights about which market segments should be targeted over the coming years in order to strategize investments and capitalize on the growth opportunities.
Report Scope:
Market, by Type:
- Conventional
- Intelligent
Market, by Voltage:
- Low
- Medium
- High
Market, By Component:
- Busbars
- Overload Relays
- Variable Speed Drives
- Soft Starters
- Others
Market, By Standard:
- IEC
- NEMA
- Others
Market, By End-User Industry:
- Oil & Gas
- Chemical & Petrochemicals
- Energy & Utilities
- Mining & Metals
- Others
Market, By Region:
- North
- South
- East
- West
For more information about this report visit https://www.researchandmarkets.com/r/74djev
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