Intelligent Motor Control Centers Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019-2029, Segmented By Type ; By Application ; By Region

PUBLISHED: December 15, 2023

PAGES: 400 Pages

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Description

Global Intelligent Motor Control Centers (IMCC) Market Size Expands at Significant CAGR of 8.28% to Touch USD 6.85 Billion by 2029

Global Intelligent Motor Control Centers (IMCC) Market is gaining traction because of the increasing level of industrial automation and a wide range of benefits offered by intelligent MCCs over traditional MCCs.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Intelligent Motor Control Centers (IMCC) Market size at USD 4.25 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Global Intelligent Motor Control Centers (IMCC) Market size to grow at a CAGR of 8.28% reaching a value of USD 6.85 billion by 2029. The intelligent motor control center (IMCC) Panel is a flexible and modular management system for Low Voltage motors. The feeders in an IMCC panel are identical to those in an MCC panel, except for a device known as SIMOCODE. The IMCC Panel enables businesses to reuse engineering designs, respond more quickly to market demands, and reduce downtime and maintenance. Hence, a growing emphasis on reducing downtime and cost through advanced data analytical tools, as well as improving asset and equipment effectiveness across industries, such as oil & gas and automotive, are major growth factors for the Global Intelligent Motor Control Centers (IMCC) Market.

Opportunity: Expanding manufacturing sector in major emerging economies

The flourishing manufacturing sector and growing demand for goods presents a lucrative growth opportunity to the Global Intelligent Motor Control Centers (IMCC) Market. The manufacturing sector is engaged in the deployment of networked motor control systems to improve their product quality and achieve their product development goals, which can provide them competitive edge in the dynamic market. The network-based motor control centers provide motor diagnostics and motor-related information to users, allowing them to perform predictive maintenance and avoid costly damages, potentially lowering the costs associated with equipment downtime.

Global Intelligent Motor Control Centers (IMCC) Market - By Type

Based on type, the Global Intelligent Motor Control Centers (IMCC) Market is segmented into low-voltage IMCC, medium-voltage IMCC, and high-voltage IMCC. The high-voltage IMCC type holds the largest share in the Global Intelligent Motor Control Centers (IMCC) Market. High-voltage IMCCs are motor control centers that run on high voltage. It is a sealed system containing electrical equipment used to control, protect, and monitor motors. High-voltage IMCCs are used in various industries, including oil & gas, power generation, mining & metal, automotive, and pulp & paper.

Impact of Escalating Geopolitical Tensions on Global Intelligent Motor Control Centers (IMCC) Market

The escalating geopolitical conflicts could hinder the growth of the Global Intelligent Motor Control Centers (IMCC) Market. For instance, Russia's unprovoked attack on Ukraine, which led to a full-fledged war between both countries, disrupted the production and supply chains of the oil and gas sector. Russia is one of the largest producers and exporters of petroleum products, such as natural gas. The war led to limitations in the adoption of automation in the oil & gas sector due to a lack of resources. Furthermore, several countries, including the United States and the United Kingdom imposed sanctions on Russian imports in their respective countries, which exacerbated the effects of war in the country, leading to reduced investments towards technology upgradation in the major end-user industries of IMCC, such as oil & gas, food production, automotive, and mining, in both Russia and Ukraine.

In addition to the Russia-Ukraine war, the Israel-Hamas conflict is also posing challenges to the Global Intelligent Motor Control Centers (IMCC) Market. Israel is one of the pioneers in technological automation and research. However, collaborative research efforts and international partnerships, which are critical for automation development, may be put under strain, potentially slowing down field innovations. In essence, geopolitical tensions introduce uncertainties and challenges across multiple dimensions of the intelligent motor control center market, emphasizing the importance of strategic adaptation and resilience in dealing with these complex circumstances.

Competitive Landscape

Major players operating in the Global Intelligent Motor Control Centers (IMCC) Market include General Electric, ABB Limited, Schneider Electric SE, Eaton Corporation, Siemens AG, Rockwell Automation Inc., Honeywell International, Larsen & Toubro Limited, and Technical Control Systems Limited. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Intelligent Motor Control Centers (IMCC) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Intelligent Motor Control Centers (IMCC) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Product Code: BWC231018

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. Global Intelligent Motor Control Centers (IMCC) Market Insights

3.1. Industry Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Increasing Level of Industrial Automation
  - 3.2.1.2. Wide Range of Benefits Offered by Intelligent MCCs Over Traditional MCCs
- 3.2.2. Restraints
  - 3.2.2.1. High Product Implementation Cost Due to Hidden Costs in Equipment Installation
- 3.2.3. Opportunities
  - 3.2.3.1. Increased Focus on Developing an Efficient Manufacturing/Production Processes
- 3.2.4. Challenges
  - 3.2.4.1. Increase in the Use of Switchgears in Medium Voltage Segment
3.3. Technological Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry

4. Global Intelligent Motor Control Centers (IMCC) Market Overview

4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Billion)
4.2. Market Share & Forecast
- 4.2.1. By Type
  - 4.2.1.1. Low Voltage IMCC
  - 4.2.1.2. Medium Voltage IMCC
  - 4.2.1.3. High Voltage IMCC
- 4.2.2. By Application
  - 4.2.2.1. Oil & Gas
  - 4.2.2.2. Power Generation
  - 4.2.2.3. Mining & Metal
  - 4.2.2.4. Automotive
  - 4.2.2.5. Pulp & Paper
  - 4.2.2.6. Others
- 4.2.3. By Region
  - 4.2.3.1. North America
  - 4.2.3.2. Europe
  - 4.2.3.3. Asia Pacific (APAC)
  - 4.2.3.4. Latin America (LATAM)
  - 4.2.3.5. Middle East and Africa (MEA)

5. North America Intelligent Motor Control Centers (IMCC) Market

5.1. Market Size & Forecast, 2019-2029
- 5.1.1. By Value (USD Billion)
5.2. Market Share & Forecast
- 5.2.1. By Type
- 5.2.2. By Application
- 5.2.3. By Country
  - 5.2.3.1. United States
  - 5.2.3.1.1. By Type
  - 5.2.3.1.2. By Application
  - 5.2.3.2. Canada
  - 5.2.3.2.1. By Type
  - 5.2.3.2.2. By Application

6. Europe Intelligent Motor Control Centers (IMCC) Market

6.1. Market Size & Forecast, 2019-2029
- 6.1.1. By Value (USD Billion)
6.2. Market Share & Forecast
- 6.2.1. By Type
- 6.2.2. By Application
- 6.2.3. By Country
  - 6.2.3.1. Germany
  - 6.2.3.1.1. By Type
  - 6.2.3.1.2. By Application
  - 6.2.3.2. United Kingdom
  - 6.2.3.2.1. By Type
  - 6.2.3.2.2. By Application
  - 6.2.3.3. Italy
  - 6.2.3.3.1. By Type
  - 6.2.3.3.2. By Application
  - 6.2.3.4. France
  - 6.2.3.4.1. By Type
  - 6.2.3.4.2. By Application
  - 6.2.3.5. Spain
  - 6.2.3.5.1. By Type
  - 6.2.3.5.2. By Application
  - 6.2.3.6. Belgium
  - 6.2.3.6.1. By Type
  - 6.2.3.6.2. By Application
  - 6.2.3.7. Russia
  - 6.2.3.7.1. By Type
  - 6.2.3.7.2. By Application
  - 6.2.3.7.3.
  - 6.2.3.8. The Netherlands
  - 6.2.3.8.1. By Type
  - 6.2.3.8.2. By Application
  - 6.2.3.9. Rest of Europe
  - 6.2.3.9.1. By Type
  - 6.2.3.9.2. By Application

7. Asia-Pacific Intelligent Motor Control Centers (IMCC) Market

7.1. Market Size & Forecast, 2019-2029
- 7.1.1. By Value (USD Billion)
7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Application
- 7.2.3. By Country
  - 7.2.3.1. China
  - 7.2.3.1.1. By Type
  - 7.2.3.1.2. By Application
  - 7.2.3.2. India
  - 7.2.3.2.1. By Type
  - 7.2.3.2.2. By Application
  - 7.2.3.3. Japan
  - 7.2.3.3.1. By Type
  - 7.2.3.3.2. By Application
  - 7.2.3.4. South Korea
  - 7.2.3.4.1. By Type
  - 7.2.3.4.2. By Application
  - 7.2.3.5. Australia & New Zealand
  - 7.2.3.5.1. By Type
  - 7.2.3.5.2. By Application
  - 7.2.3.6. Indonesia
  - 7.2.3.6.1. By Type
  - 7.2.3.6.2. By Application
  - 7.2.3.7. Malaysia
  - 7.2.3.7.1. By Type
  - 7.2.3.7.2. By Application
  - 7.2.3.8. Singapore
  - 7.2.3.8.1. By Type
  - 7.2.3.8.2. By Application
  - 7.2.3.9. Vietnam
  - 7.2.3.9.1. By Type
  - 7.2.3.9.2. By Application
  - 7.2.3.10. Rest of APAC
  - 7.2.3.10.1. By Type
  - 7.2.3.10.2. By Application

8. Latin America Intelligent Motor Control Centers (IMCC) Market

8.1. Market Size & Forecast, 2019-2029
- 8.1.1. By Value (USD Billion)
8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Application
- 8.2.3. By Country
  - 8.2.3.1. Brazil
  - 8.2.3.1.1. By Type
  - 8.2.3.1.2. By Application
  - 8.2.3.2. Mexico
  - 8.2.3.2.1. By Type
  - 8.2.3.2.2. By Application
  - 8.2.3.3. Argentina
  - 8.2.3.3.1. By Type
  - 8.2.3.3.2. By Application
  - 8.2.3.4. Peru
  - 8.2.3.4.1. By Type
  - 8.2.3.4.2. By Application
  - 8.2.3.5. Rest of LATAM
  - 8.2.3.5.1. By Type
  - 8.2.3.5.2. By Application

9. Middle East & Africa Intelligent Motor Control Centers (IMCC) Market

9.1. Market Size & Forecast, 2019-2029
- 9.1.1. By Value (USD Billion)
9.2. Market Share & Forecast
- 9.2.1. By Type
- 9.2.2. By Application
- 9.2.3. By Country
  - 9.2.3.1. Saudi Arabia
  - 9.2.3.1.1. By Type
  - 9.2.3.1.2. By Application
  - 9.2.3.2. UAE
  - 9.2.3.2.1. By Type
  - 9.2.3.2.2. By Application
  - 9.2.3.3. Qatar
  - 9.2.3.3.1. By Type
  - 9.2.3.3.2. By Application
  - 9.2.3.4. Kuwait
  - 9.2.3.4.1. By Type
  - 9.2.3.4.2. By Application
  - 9.2.3.5. South Africa
  - 9.2.3.5.1. By Type
  - 9.2.3.5.2. By Application
  - 9.2.3.6. Nigeria
  - 9.2.3.6.1. By Type
  - 9.2.3.6.2. By Application
  - 9.2.3.7. Algeria
  - 9.2.3.7.1. By Type
  - 9.2.3.7.2. By Application
  - 9.2.3.8. Rest of MEA
  - 9.2.3.8.1. By Type
  - 9.2.3.8.2. By Application

10. Competitive Landscape

10.1. List of Key Players and Their Offerings
10.2. Global Intelligent Motor Control Centers (IMCC) Company Market Share Analysis, 2023
10.3. Competitive Benchmarking, By Operating Parameters
10.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)

11. Impact of Covid-19 on Global Intelligent Motor Control Centers (IMCC) Market

12. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)

12.1. General Electric Co.
12.2. ABB Limited
12.3. Schneider Electric SE
12.4. Eaton Corporation
12.5. Siemens AG
12.6. Rockwell Automation Inc.
12.7. Honeywell International
12.8. Larsen & Toubro Limited
12.9. Technical Control Systems Limited
12.10. Other Prominent Players

13. Key Strategic Recommendations

14. Research Methodology

14.1. Qualitative Research
- 14.1.1. Primary & Secondary Research
14.2. Quantitative Research
14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
14.4. Breakdown of Primary Research Respondents, By Region
14.5. Assumptions & Limitations