Intelligent Motor Control Center Market Forecasts to 2028 – Global Analysis By Voltage Type (Medium Voltage Intelligent MCCs, Low Voltage Intelligent MCCs), Type (Intelligent, Conventional), Component (Variable Speed Drives, Busbars, Soft Starters, Circui

Intelligent Motor Control Center Market Forecasts to 2028 – Global Analysis By Voltage Type (Medium Voltage Intelligent MCCs, Low Voltage Intelligent MCCs), Type (Intelligent, Conventional), Component (Variable Speed Drives, Busbars, Soft Starters, Circuit Breakers and Fuses, Other Components), End User (Mining and Metals, Cement Manufacturing, Automotive, Wastewater Management, Chemicals/Petrochemicals, Power Generation, Food and Beverage, Pulp and Paper, Other End Users), and Geography

According tStratistics MRC, the Global Intelligent Motor Control Center Market is accounted for $657.8 billion in 2022 and is expected treach $1015.3 billion by 2028 growing at a CAGR of 7.5% during the forecast period. An electric motor's operation is controlled by a motor control centre, or MCC. It consists of a grouping of one or even more enclosing sections connected by a common power bus that houses motor control units. It has the electrical service entryway for the building as well as drives with variable frequencies, switches, valves, programmable controllers, and metres. These facilities are essential for boosting output, streamlining processes, and lowering overhead. They are widely used in manufacturing facilities toffer superior protection that is coupled with smart monitoring and fault protection.

According tthe World Investment Report 2018, Asia Pacific held an investment worth USD 476 billion of inflow from foreign direct investment in the year 2017, which was primarily focused by China and Singapore.

Market Dynamics:

Driver:

Growing demand for automation in developed nations

High degrees of automation are a result of technological advancements in production plants. Tmaintain competitive product price, fulfil effectiveness and security standards, and achieve maximum productivity, all manufacturing facilities compete. Due tthis, various companies have begun automating their processes using motor control centres and other intelligent motor control technology. In developed regions, this has alsled ta rise in need for motor control centres. Automation is increasingly receiving more attention in developed regions like North America and Europe in order treduce labour costs and increase the productivity of manufacturing facilities.

Restraint:

Low crude oil prices & investments in oil &gas sector

One of the top end-use sectors for motor control centres is the oil and gas sector. The recent decline in crude oil prices has caused a sharp reduction in capital budgets, which has decreased the need for industrial machinery. When the sector gets through the current oil price scenario, businesses are working tstreamline operations by increasing operational efficiency and using fewer resources. The rise in oil supply from the US and OPEC nations like Saudi Arabia and the removal of sanctions against Iran are both responsible for the drop in crude oil prices. This has led ta decrease in investments from the oil and gas sector, which is anticipated tconstrain the market for intelligent motor control centres.

Opportunity:

Demand for smart motor control & protection devices

It is anticipated that using such intelligent motor control centres will require less human intervention and result in improved productivity and decreased downtime. Oil and gas, water and wastewater, metal processing, cement, and the food and beverage industries all have essential processes that use several motors and necessitate precise control while in operation. Intelligent motor control centres offer stronger protection and improved communication capabilities in addition taccurate motor control. Finding efficient means timprove process integration across industrial systems is the current market trend. The market for motor control centres is thus anticipated tincrease as a result of the continued pursuit of such integration.

Threat:

High cost of raw materials

Although being a relatively straightforward task, installing motor control centres needs a significant upfront investment. The utilities and end customers find it challenging tinstall them as a result. Moreover, utilities confront high costs as a result of significant aggregate technical and commercial (AT&C) losses that burden them with additional financial losses, particularly in developing nations like India, China, and Sri Lanka. Due tthe considerable investment needed compared ta single panel operation, small and medium-sized companies alsavoid constructing motor control centres. As a result, the market for motor control centres frequently faces difficulties due tsignificant initial investments and greater costs than those of its competitors.

Covid-19 Impact

The COVID 19 has caused a significant shock tthe global economy because the sickness has spread tvarious nations and has made travel difficult. Perhaps, it has had an equal impact on the manufacturing and service industries. The Intelligent Motor Control Center industry is currently experiencing negative effects since non-essential industrial sectors and other commercial industries have temporarily shut down. The impact, though, is only anticipated tlast a short while. In the approaching years, demand for Intelligent Motor Control Centers is anticipated tincrease as developing nations increasingly express interest in industrial development. As a result, there has been a significant problem of unpredictability in the development of the Intelligent Motor Control Center sector. This has been caused by a fast decrease in the prices of the oil and gas industry. Business continuity hazards, volume variations in production, workforce declines, real-time decision-making issues, and security problems are just a few of the new negative effects brought on by COVID 19. These elements are more likely thave an impact on business and industrial processes, which will have an impact on the Intelligent Motor Control Center Industry.

The Low Voltage IMCC segment is expected tbe the largest during the forecast period

The Low Voltage IMCC segment is estimated thave a lucrative growth. Low Voltage IMCCs are a specific kind of Motor Control Centers (MCCs) intended tmanage and keep an eye on the performance of low voltage motors. For safe and effective motor control in a variety of industries, such as oil & gas, electricity production, mining & metals, automobiles, pulp & paper, and others, low voltage MCCs are built. Low Voltage IMCCs can be configured, sized, and equipped with a wide range of functions tsuit the unique requirements of each application.

The automotive segment is expected thave the highest CAGR during the forecast period

The automotive segment is anticipated twitness the fastest CAGR growth during the forecast period. The need for autonomous cars is anticipated tincrease in key industries like oil & gas, power production, mining & metals, automotive, and others due tthe growing necessity for them. The demand for intelligent motor control centres is mostly being driven by the rise in accidents brought on by human mistake.

Region with highest share:

Asia Pacific is projected thold the largest market share during the forecast period. Together with fast expanding automation penetration in the industrial segment, the region boasts booming power generating and wastewater treatment industries. The use of smart gadgets is highly desired since they save costs and increase operational effectiveness. The use of IMCs is alsgrowing as a result of the deployment of smart motors. As a result, during the projection period, the marketplace for intelligent motor control center grows in the Asia Pacific area.

Region with highest CAGR:

North America is projected thave the highest CAGR over the forecast period. As end-user technology advances, there is a growing demand for and implementation of smart devices in this region. Because of its widespread use of cutting-edge technology, North America's end-user industries are more likely tdeploy IMCs. As a result, it stimulates the continent's economic expansion during the course of the forecast.

Key players in the market

Some of the key players profiled in the Intelligent Motor Control Center Market include, Rockwell Automation, Inc. , Fuji Electric Co., Ltd. , Mitsubishi Electric Corporation, Danaher, Eaton Corporation, ABB , Siemens AG, Schneider Electric, Larson & TurbLimited, Honeywell International, Technical Control Systems and Hyosung.

Key Developments:

In November 2022, Rockwell Automation announced the acquisition of CUBIC, a company specializing in modular systems for constructing electrical panels. The acquisition is expected tstrengthen Rockwell's leading intelligent motor control technologies portfolio.

In June 2019, Schneider Electric introduced motor control centers with an arc flash isolation design that helps tprevent arc flash by extinguishing, generating, and controlling arc energy.

Voltage Types Covered:
• Medium Voltage Intelligent MCCs
• Low Voltage Intelligent MCCs

Types Covered:
• Intelligent
• Conventional

Components Covered:
• Variable Speed Drives
• Busbars
• Soft Starters
• Circuit Breakers and Fuses
• Other Components

End Users Covered:
• Mining and Metals
• Cement Manufacturing
• Automotive
• Wastewater Management
• Chemicals/Petrochemicals
• Power Generation
• Food and Beverage
• Pulp and Paper
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements