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Exclusive Report on Intelligent Motor Control Center Market 2019 | Industry Drivers, Business Plans, Types, Applications, Challenges, Opportunities and Latest Trends Forecast to 2024

Intelligent

The “Intelligent Motor Control Center Market” research report 2019 delivers comprehensive information about the market ranging from the establishment to the predictable growth trend. Intelligent Motor Control Center market report provides brief analytical data of the market contenders globally using advanced methodological approaches, such as SWOT analysis, production chain, cost, sales margin, financial details, recent developments. Intelligent Motor Control Center market report also offers market competitors that includes detailed company profiles along with company product specifications.

Market Overview:

  • The Global Intelligent Motor Control Center market was valued at USD 1.67 billion in 2018 and is expected to reach a value of USD 2.885 billion by 2024, at a CAGR of 9.39%, over the forecast period of (2019-2024). IMCCs offer many advantages to the users, as they combine hardware, software, and communication systems. Piles of data generated by PLCs and motor starters are collected and analyzed to minimize the equipment downtime of the motors.
  • With the rising labor costs and high competition market, which lead to low-profit margin for companies, the need for high-efficiency motors with improved control and automated systems has increased considerably.
  • The impact on IMCCs, due to advancements in technology, made its components (electromechanical relays, circuit breakers, electronic devices, such as variable frequency drives) more robust, and in turn, increased the robustness of the IMCCs. The lifecycle of an IMCC is more than 20 years, which tremendously reduces the replacement rate of equipment. Even in case of product defects, end users are likely to replace only the faulty components rather than the entire equipment, which results in depletion of revenues in the market.
  • Automation is a growing trend that is witnessed across various industries. High labor costs and high competitive rivalry have triggered the demand for automated systems in the processes. Automated systems are replacing manual labor in various industrial processes.

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    In Intelligent Motor Control Center Market Report, Following Companies Are Covered:

  • Rockwell Automation Inc.
  • Eaton Corporation
  • Schneider Electric SE
  • ABB Limited
  • Siemens AG
  • Larson & Turbo Limited
  • General Electric Co.
  • Technical Control Systems Limited

    Intelligent Motor Control Center Market 2019 report will help the industry aspirants in arranging their strategies. The measurements offered in this report will be an exact and helpful manual to shape the business development. Additionally, will Provide historical data along with a future forecast and detailed analysis and also expected opportunities.

    Scope of the Report:

  • A motor control center (MCC) is an assembly of one or more enclosed sections having a shared power bus, and principally containing motor control units. In other words, MCCs are a factory assembly of several motor starters. Network communication challenges and technological advancements have revealed the need to integrate three primary system components: hardware, communications, and software. Next-generation, integrated, intelligent motor control centers (IMCCs) were introduced to match these growing demands.

    Reasons for Buying Intelligent Motor Control Center Market Report:

    • This report provides pin-point analysis for changing competitive dynamics
    • It provides a forward looking perspective on different factors driving or restraining market growth
    • It provides a five-year forecast assessed on the basis of how the market is predicted to grow
    • It helps in understanding the key product segments and their future
    • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
    • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

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    Key Market Trends:

    Automotive End-User to Account for Significant Share

    IMCC finds applications in the manufacturing plants of automotive and other transport vehicles, such as ships and railway carriages. IMCC demand in vehicle manufacturing is expected to increase at a steady pace, particularly in Germany, United States, and Japan, owing to the presence of a robust automotive manufacturing sector and higher penetration of industrial automation.
    Organisation Internationale des Constructeurs d’Automobiles (OICA) reported that the total number of cars produced in 2016 amounted to 94,976,569 units. The growing demand for automobiles is expected to continue over and beyond the forecast period, which will, in turn, create a demand for effective manufacturing equipment and technologies.
    Automakers like Toyota, Mazda, BMW, etc. are expanding their operations across North America, and Asian regions can be potential buyers of IMCC over the forecast period.

    North America to Account for Major Share

    The North American market is a relatively mature market, but still presents ample opportunities for the implementation of new technologies, such as IMCC. The Energy Information Administration (EIA) estimated that nearly half of the electricity used by the US manufacturers was for operating machinery, of which machine drives (motors) consumed the most.
    Such estimates determine the need for efficient motor control systems. Connected manufacturing units in the region support the adoption of IMCC, as a better alternative for reduced energy consumption. The oil & gas industry is expected to be the most prominent end-user in the North American market
    IMCCs are predominantly used in the renewable energy industry. Tax incentives have been implemented to encourage the growth of wind energy in the region. In 2016, the wind workforce grew by about 32% emphasizing the growth of this form, in energy production
    The US Energy Information Administration estimated that in 2017, the chemical industry was the largest industrial consumer of energy. The chemical industry, along with refining and mining industry, accounted for about 58% of the total US industrial sector energy. Such statistics indicate the scope for the adoption of IMCC, in order to reduce energy consumption.
    It is estimated that about 77% of the energy generated in Canada is from renewable energy sources and nuclear energy combined. This percentage is expected to grow over the coming years, owing to the environmental regulations against the use of fossil fuels. The extensive use of electrical enclosures in hydraulic and solar grids is expected to drive the market forward in this region.

    The Research Document Will Answer Following Questions Such as:

    • What are the cutting-edge technologies responsible for driving the growth of the market?
    • What are the main applications of the market? What are the growth prospects to the market applications into the market?
    • At what stage of development are the key market products?
    • What are the shortcomings that has to face to become commercially viable? Is their growth and commercialization dependent on cost declines or technological/application breakthroughs?
    • What is the outlook for the industry?
    • What difference does performance characteristics of Intelligent Motor Control Center create from those of established entities?

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    Detailed TOC of Intelligent Motor Control Center Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Increasing Level of Industrial Automation
    4.3.2 Wide Range of Benefits Offered by Intelligent MCCs over Traditional MCCs
    4.3.3 Increased Focus on Developing an Efficient Manufacturing/Production Processes
    4.4 Market Restraints
    4.4.1 Costlier Product Implementation due to Hidden Costs in Equipment Installation
    4.4.2 Increase in the Use of Switchgears in Medium-voltage Segment
    4.5 Value Chain Analysis
    4.6 Industry Attractiveness Porters Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Operating Voltage
    5.1.1 Low-voltage Intelligent MCCs
    5.1.2 Medium-voltage Intelligent MCCs
    5.2 By End-user Industry
    5.2.1 Automotive
    5.2.2 Chemicals/Petrochemicals
    5.2.3 Food and Beverage
    5.2.4 Mining and Metals
    5.2.5 Pulp and Paper
    5.2.6 Power Generation
    5.2.7 Oil and Gas
    5.2.8 Other End-user Industries (Cement Manufacturing, Wastewater Management)
    5.3 Geography
    5.3.1 North America
    5.3.2 Europe
    5.3.3 Asia Pacific
    5.3.4 Latin America
    5.3.5 Middle East and Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Rockwell Automation Inc.
    6.1.2 Eaton Corporation
    6.1.3 Schneider Electric SE
    6.1.4 ABB Limited
    6.1.5 Siemens AG
    6.1.6 Larson & Turbo Limited
    6.1.7 General Electric Co.
    6.1.8 Technical Control Systems Limited

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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