Low Voltage Motor Control Center Market Segments, Revenue Share, Industry Size Upto 2034

The low voltage motor control center market is estimated to be worth USD 4.6 billion in 2024 and is projected to be valued at USD 10 billion in 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 8.1%.

Growing urbanization and industrialization in emerging economies are expected to create opportunities for low-voltage motor control center market expansion due to increased demand for electric distribution solutions and increased infrastructural development.

Increasing innovation in low-voltage motor control center designs, including the integration of IoT Smart sensors and predictive maintenance capabilities, enhances functionality and reliability, driving market growth.

The growing deployment of automation in various industries demands effective motor control, which drives the low-voltage motor control center. Increasing infrastructural development, such as commercial buildings, data centers, and transportation systems, creates demand for low-voltage motor control centers.

The adoption of LV MCCs, meant to provide asset and worker protection, is fueled by adherence to safety regulations in sectors such as mining, petrochemicals, and oil and gas.

Edge computing technologies are gaining traction in low-voltage motor control center application, enabling faster data processing and reduced latency and improved decision making at the edge of the network.

Key Takeaways from the Market Study:

From 2019 to 2023, the low-voltage motor control center market expanded at a CAGR of 2%.
The conventional motor control centers segment is expected to rise at a CAGR of 9% from 2024 to 2034, according to type.
The demand for low-voltage motor control centers in the United Kingdom is predicted to grow at a CAGR of 3% through 2034.
In the United States, the low-voltage motor control center industry is estimated to register a CAGR of 4% from 2024 to 2034.
China is projected to expand by a CAGR of 9% between 2024 and 2034.
The low voltage motor control center market in Japan is anticipated to record a CAGR of 5% during 2034.

“The increasing integration of smart technologies and increased focus on energy efficiency are driving the low-voltage motor control center market,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Competitive Landscape:

The market players in the low-voltage motor control center market are collaborating with other industry stakeholders, including suppliers, technology partners, and customers, enabling leading players to leverage synergies, access new markets, and accelerate innovation.

Some players are also opting for eco-friendly manufacturing processes and using energy-efficient technologies to minimize their environmental footprints.

Mitsubishi Electric's LV MCCs are renowned for their excellent efficiency, dependability, and performance. They offer a wide variety of LV MCCs. The company focuses on developing innovative technology to enhance motor control and power distribution capabilities.

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Key Companies Profiled: