The WorldwideLow Voltage Motor Control Centres Marketis set to float and develop from USD 3.45 in 2020 to USD 5.20 billion in 2028 at a compounded annual growth rate (CAGR) of 5% in 2028. Low Voltage Motor Control Centres (LVMCC) are part of all power distribution systems and consist of one or more closed sections with the same area of electric buses and motor control units. This provides the most efficient and secure way to integrate electric motor controls, convertible vehicles, and power distributors into an economically integrated package. They are employed in residential, industrial and commercial sectors including real estate, oil and gas, and automotive industries.
Technological advances have resulted in high levels of automation in the production areas. All manufacturing industries compete to meet efficiency and safety standards, achieve high productivity, and maintain competitive product prices. This has led to the industry performing its operations automatically using smart automotive control devices, such as vehicle control centres. This has also led to a rise in the need for vehicle control centres in developed regions.
The motor control centre market is driven by the increasing adoption of smart vehicle control centres that provide diagnostic skills, loss detection and corrective forecasting features. The cement and manufacturing industries rely heavily on low-energy electric motors. Vehicle control centres combined with process control and smart car devices can bring better performance to power-intensive systems. The oil and gas industry is one of the leading industries of end-users of motor vehicle control centres. The recent deflection in crude oil prices has led to a decline in the budget, reducing the demand for industrial equipment. This has left oil and gas companies focused on improving efficiency with the same equipment instead of buying new and more efficient products. Companies are working to simplify operations by improving efficiency with fewer resources.
The market for motor control centres, by voltage, is divided by low and medium voltage. Low-voltage motor vehicle control centres are popular due to their widespread acceptance in various industries around the world, which may increase the need for low-voltage motor vehicle control centres during forecasting. The market for motor control centres, by type, is divided into conventional vehicle control centres and intelligent vehicle control centres. Part of the conventional automotive control centres is expected to hold the largest market share by 2028. The growing demand for industrial automation in developed regions and the benefits offered by general vehicle control centres such as high safety, easy extension and modification, fast and smooth maintenance, and improved reliability and performance are key factors driving the need for standard vehicle control facilities during forecasting. The market for motor vehicle control centres, by end-user, is divided into industry and commercial. The global trend of automotive automation in all parts of the industry is expected to boost the market growth of automotive control centres.
In this report, the market for motor vehicle control centres was analysed for about 5 regions, namely, Asia Pacific, North America, Europe, South America, the Middle East and Africa. The Asia Pacific is estimated to be the largest market from 2020 to 2028. It is expected to see a greater need for vehicle control centres due to the growth of cities and industries in the region.
Key stakeholders in low power engine control centres include Rockwell Automation (USA), ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Eaton (Ireland), Fuji Electric (Japan), WEG (Brazil), Mitsubishi Electric (Japan), Larsen & Toubro (India).