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Motor Control Centers Market Worth $8 16 Billion at 5 2% CAGR; Need for Operational Efficiency to Skyrocket Demand: Fortune Business Insights™
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The global variable frequency drive market is projected to reach USD 24 3 billion by 2025 from an estimated USD 19 2 billion in 2020, at a CAGR of 4 8%
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Motor Control Centers Market – Competitive Analysis
Highly competitive, the motor control centers market appears fragmented, with several well-established players forming a competitive landscape. To gain a substantial competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaborations, expansion, and product/technology launch.
They make heavy investments for product development and geographical expansion initiatives. The market is estimated to witness relentless innovations and new products, eventually intensifying competition among synchronous motor manufacturers.
Major Players:
Players leading the global motor control centers market include Siemens AG (Germany), General Electric (US), ABB, Ltd. (Switzerland), Rockwell Automation (US), Schneider Electric SE (France), Mitsubishi Electric Corporation (Japan), Larsen & Toubro Limited (India), Hyosung Corporation (South Korea), WEG SA (Brazil), and Technical Control Systems