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

Published | 15 December 2023

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 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.

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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.

Don’t miss the business opportunity in the Global Intelligent Motor Control Centers (IMCC) Market. Consult our analysts to gain crucial insights and facilitate your business growth.

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.

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