According To TechSci Research, Motor control center market in India is projected to grow from $ 427 million in 2021 to $ 582 million by 2026. Anticipated growth in India 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.
India 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 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, 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.
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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 India motor control center market.
Years considered for this report:
Historical Years: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
To analyze and forecast India motor control center market, both top down and bottom up approaches have been used. Multiple employees from several companies have been interviewed through telephonic conversations to extract and verify the information. A brief study of the major players operating in India motor control center market was conducted, which included the analysis of information such as detailed estimated investments in coming years in power infrastructure and government funding for the development of various industries. Moreover, detailed and in-depth scrutiny of information was done to understand each policy or external or internal factor, which could increase or decrease the demand for motor control centers in India.
Various secondary sources such as company websites, Annual Reports, White Papers, Investor Presentation, News Articles, Associations, were also studied by TechSci Research.
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Key Target Audience:
The study is essential in delivering useful information to 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 growth opportunities.
Report Scope:
In this report, India motor control center market has been segmented into the following categories in addition to the industry trends which have also been detailed below:
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in India motor control center market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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