Energy and Power Motor Control Centers Market | Page 2

The busbars segment of the motor control centers market, by component, accounted for the
largest market size in 2016. Busbars are the major current carrying components of motor control
centers. The increase in the flexibility, efficiency, and reliability of busbars and the elimina tion of
the need for additional wires have led to the rising demand for busbars in the motor control
centers market. The busbars market in Asia-Pacific is expected to grow at the highest CAGR.
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The report segments the motor control centers market, by end-user, into industrial and
commercial. The industrial segment includes the oil & gas, water and wastewater, power
generation, mining, and others subsegments, the last of which includes the cement, chemicals
and petrochemicals, and paper and pulp industries. The oil & gas segment accounted for the
largest market share in 2016 as motor control centers are extensively used for drilling and various
others production processes in the oil & gas sector. The utilities segment is expected to grow at
the highest CAGR, from 2017 to 2022, due to the increasing demand for electricity across the
world.
In this report, the motor control centers market has been analyzed with respect to five regions,
namely, Asia-Pacific, North America, Europe, South America, and the Middle East & Africa. The
market in Asia-Pacific is expected to lead the global motor control centers market by 2022 and is
projected to grow at the highest CAGR, from 2017 to 2022. This growth is attributed to rising
industrialization and urbanization and increasing power generation capacity in the region. The
markets in countries such as China, India, Japan, and Australia are driving the motor control
centers market in Asia-Pacific. The infrastructural developments and investments in the water and
wastewater industry in the Middle East & Africa are expected to drive the motor control centers
market in the Middle East & Africa.
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control-centers-market-227058918.html
The oil & gas industry is one of the leading end-user industries for motor control centers. The
recent downturn in crude oil prices has resulted in a steep fall in capital budgets, which has
reduced the demand for industrial equipment. The stagnancy in the oil & gas industry is
expected to act as a restraint for the motor control centers market. Motors and motor control
centers are required for mining applications such as drills, hoists, mills, crushers, and conveyors,
among others. Thus, the downturn in the mining industry is also expected to impact the growth
of motor control centers market.
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