Intelligent Motor Control Center Market Outlook
The global intelligent motor control center (IMMCC) market size was valued at USD 5.46 Billion in 2022 and is likely reach to USD 10.04 Billion by 2031, expanding at a CAGR of 7% during the forecast period, 2023–2031. The growth of the market is attributed due to the fact that IMCCs mix hardware, software, and communication technologies to provide users with a variety of features.
A motor control center is an enclosed grouping of one or more parts with a common power bus. These centers are crucial for enhancing production and lowering operational expenses. Additionally, motor control centers combine production and business networks with field equipment with ease.
They provide fundamental protection, intelligent monitoring, and diagnostic capabilities from motor management relays, which are widely accepted in production units today.
The intelligent motor control centers market was impacted by the shutdown of non-essential manufacturing and commercial sectors. In 2020, the motor control centers utilized by industrial and commercial end-users was reduced to halt in manufacturing industries.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for cost-effective solutions and equipment damage is driving the market growth.
- Rising expansion in automation technology and continuous upgradation in the power infrastructure is anticipated to the growth of the intelligent motor control center market.
- Falling crude oil prices leading to reduced investments in the oil & gas sector can hamper the market growth.
- Growing requirement for efficient and interconnected motor detection and protection devices, offering the several opportunities.
Scope of the Intelligent Motor Control Center Market Report
The report on the global intelligent motor control center market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
Intelligent Motor Control Center Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2022
|
|
Historic Data
|
2016–2021
|
|
Forecast Period
|
2023–2031
|
|
Segmentation
|
Operating Voltages (Low Voltage Intelligent MCCS and Medium Voltage Intelligent MCCS) End-users (Automotive, Pulp and Paper, Mining and Metals, Oil and Gas, Food and Beverage, Power Generation, and Chemicals/Petrochemicals)
|
|
Regional Scope
|
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
SIiemens AG; ABB Limited; General Electric Co.; Schneider Electric SE; and Eaton Corporation
|
Intelligent Motor Control Center Market Segment Insights
Low voltage intelligent MCCS segment is expected to grow at a rapid pace
Based on operating Voltages, the market is divided into low voltage intelligent MCCS, medium voltage intelligent MCCS. The low voltage intelligent MCCS segment is expected to grow at a rapid pace during the forecast period owing to widespread adoption in various industries across the world.
Automotive segment is projected to expand at a considerable CAGR
On the basis of end-user industries, the market is segregated into automotive, pulp and paper, mining and metals, oil and gas, food and beverage, power generation, and chemicals/petrochemicals. The automotive segment is projected to expand at a considerable CAGR during the forecast period due to technological improvements and expanding adoption of automation in the manufacturing sector.
Intelligent Motor Control Center Market Regional Outlook
Latin America is anticipated to constitute a key market share
In terms of regions, the global intelligent motor control center market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Latin America is expected to constitute a key share of the market during the projected period owing to the growing urbanization and industrialization in the region.
However, the market in North America is anticipated to expand at a rapid pace during the forecast period owing to the increasing power generation capacity addition and electricity demand.
Segments
Operating Voltages
- Low Voltage Intelligent MCCS
- Medium Voltage Intelligent MCCS
End-user Industries
- Automotive
- Pulp & Paper
- Mining & Metals
- Oil & Gas
- Food & Beverage
- Power Generation
- Chemicals/Petrochemicals
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global intelligent motor control center market are Siemens AG; ABB Limited; General Electric Co.; Schneider Electric SE; and Eaton Corporation. Competitors are competing on a significant scale due to rapid transition from MCCs to IMCCs across the globe.
Request For Customization
Enquiry Before Buying
Speak With Analyst
