Motor Control Centers Market Share

APAC Market Statistics

Asia Pacific industry is likely to dominate majority revenue share of 35% by 2037. Regional growth can majorly be attributed to rapid industrialization. The Asia Pacific region is experiencing rapid industrialization, particularly in countries such as China and India. According to the United Nations, Asia accounted for 54% of global manufacturing value added in 2019. This is driving demand for motor control centers in the industrial sector. The Asia Pacific region is also experiencing increasing demand for energy owing to population growth and economic development. According to the International Energy Agency, Asia accounted for 42% of global energy demand growth between 2000 and 2019. This is driving demand for motor control centers that can optimize energy consumption and improve energy efficiency. Several countries in the Asia Pacific region, such as China and India, have launched government initiatives to promote industrial growth and increase energy efficiency. For instance, the Indian government has launched the Make in India initiative to promote manufacturing in the country, which is driving demand for motor control centers.

North American Market Forecast

The motor control centers market in the North America region, amongst the market in all the other regions, are projected to hold the second largest share of about 24% during the forecast period. The growth of the market in this region can primarily be attributed to a growing focus on energy efficiency. The North American region is focusing on improving energy efficiency in various industries. For instance, the U.S. Department of Energy has established new regulations to increase the energy efficiency of motors and motor-driven equipment, which is driving the adoption of motor control centers that can optimize energy consumption. The North American region is experiencing an increasing adoption of automation in various industries, such as manufacturing, automotive, and aerospace. This is driving demand for motor control centers that can facilitate automation and enhance operational efficiency. The North American region has aging infrastructure that requires modernization and upgrade. This includes updating electrical systems with advanced motor control centers that can improve system reliability, safety, and efficiency.

Europe Market Forecast

Further, the motor control centers market in the Europe region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2037. The growth of the market can be attributed majorly to the growing focus on industry 4.0. The Europe region is focused on advancing towards Industry 4.0, which involves the integration of automation, data exchange, and digital technologies in manufacturing. This is driving demand for motor control centers that can facilitate automation and enhance operational efficiency. Europe has aging infrastructure that requires modernization and upgrade. This includes updating electrical systems with advanced motor control centers that can improve system reliability, safety, and efficiency. Europe has a strong automotive industry, with countries such as Germany and France being major automotive manufacturers. This is driving demand for motor control centers in the automotive sector to enhance productivity and operational efficiency. Overall, these growth drivers suggest that the Europe region is a significant for motor control centers market, as companies seek to comply with energy efficiency regulations, advance towards Industry 4.0, modernize aging infrastructure, and meet the needs of a strong automotive industry.