New Product Development, Contracts & Agreements, Expansions, Mergers & Acquisitions in the Low Voltage Motor Control Centers Market
The global low voltage motor control centers market is projected to grow at a CAGR of 5.62% from 2017 to 2022. In 2017, Asia-Pacific is estimated to be the largest market for low voltage motor control centers, followed by North America and Europe. This trend is expected to continue during the forecast period. The growth of the low voltage motor control centers market is driven by the increasing industrial automation, increased industrial plant uptime, and growth of the power sector globally.
The low voltage motor control centers market is dominated by both, global and regional players. The key players operating in the market include Eaton (Ireland), Siemens (Germany), ABB (Switzerland), Rockwell Automation (US), Schneider Electric (France), and General Electric (US).
The major strategies adopted by the players in the low voltage motor control centers market include new product development, contracts & agreements, expansions, mergers & acquisitions, and others. Others include certifications, collaborations, partnerships, and joint ventures. New product development was the most commonly adopted strategy from 2013 to 2017. Industry players also adopted the strategy of contracts & agreements, which was the second-most widely followed strategy from 2013 to 2017.
Siemens is a manufacturing and engineering company. Its operations span the entire value chain, from power generation, transmission, and distribution to smart grid solutions. The company conducts its operations through nine segments, namely, power and gas, healthcare, energy management, digital factory, process industries and drives, mobility, building technologies, wind power and renewables, and financial services. It also offers factory support, maintenance, repair and replacements, modernization, and upgradation of services. Low voltage motor control center is a part of process industries and drives segment. The company has adopted new product developments and mergers & acquisitions as its key strategies. In May 2017, Siemens extended offering through new communication option, Ethernet/IP, for Simocode pro motor management system including motor control centers. The Tiastar MCCs use simocode with Ethernet/IP option that can be supplied with the star or redundant-ring network topologies. In March 2017, the company acquired Mentor Graphics (US), an electronic design automation software and solutions company. This acquisition was a part of the Siemens’ strategy to become a leading player in the automation software and solutions industry.
Schneider Electric is engaged in electrical distribution and the manufacturing of industrial engineering equipment used to optimize energy for sectors such as energy and infrastructure, industries, datacenters, buildings, and residential. The company operates through four business segments, namely, buildings and partners, infrastructure, industry, and IT. The industry segment specializes in discrete automation, which provides comprehensive products and solutions for the automation and control of machines, industrial sites, and manufacturing plants. The company offers low voltage motor control centers through its low voltage products and systems sub-segment. The other products offered include variable speed drives, motion controllers, contactors, motor starters, human machine interface, programmable logic control, discrete sensors, push buttons, and signaling devices. Its major competitors in the low voltage and grid automation business include ABB. (Switzerland) and Siemens (Germany). The company operates in approximately 190 countries. Schneider Electric has adopted contracts & agreements as its key strategy. In 2015, Schneider Electric signed a contract with Enkeldebosch Boerdery (South Africa) to provide embedded solutions for a potato grading, sorting, and bagging plant. The number of electric motors in the plant was increased from 28 to 122 and a SCADA system with touchscreen HMI was installed on the motor control center.
Related Reports:
Low Voltage Motor Control Centers Market by Type (Intelligent and Conventional), End-User (Industrial and Commercial), Component (Busbars, Circuit Breakers and Fuses, Overload Relays, VSDS, and Soft Starters), and Region - Global Forecast to 2022
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