According to findings documented in the World Oil Outlook 2018 by the Organization of Petroleum Exporting Countries (OPEC), the worldwide energy demand is expected to rise from 276 mboe/d in 2015 to 339.4 mboe/d in 2030. This will lead to an increase in demand for the oil and gas industry, which forms a major segment of the energy industry. Oil and gas refineries work with digital control systems (DCS), which are incorporated with intelligent motor control centers (IMCC). The rise in production of oil and gas will support the IMCC market, which is poised to attain a valuation of $5164.76m by the end of 2023. The IMCC market size will grow at a CAGR of 8.6% during the forecast period 2018-2023, according to a recently published market intelligence report by IndustryARC.
The report titled, “Intelligent Motor Control Centers (IMCC) Market: By Voltage (Low, Medium); By Standards (NEMA, IEC); By Sales Channel, Protection; By Components (Contactor Relays, Starters & over Load Relays, Solid State, Variable Frequency Drives, Soft Starters, Network Components, Visualization Systems and Software); By End-user industry (Oil & Gas, Mining & Metals, Power Generation, Pulp & Paper, Water & Waste Water, F & B, Automotive, Ship Building, Transport, Cement Manufacturing, Petrochemicals, Semiconductor Manufacturing, Pharmaceutical and Others); By Geography – (2018-2023)” comprises of the facts, figures, and statistics that will provide a peek into dynamics of the IMCC market. Furthermore, the report contains foreseeable trends, challenges, and opportunities for the forecast period.
IMCC Market: Geographical Analysis & Leading Segments
The Americas led the IMCC market in 2017, with a share of $1442.29m, owing to application across a wide range of industries in Canada, Mexico, and the U.S., where DCS has successfully penetrated operations. On the other hand, the APAC region is expected to observe a surge in demand for IMCC, which will aid the IMCC market to grow at a CAGR of 15.95% during the forecast period 2018-2023. The projected growth in the APAC region is due to an influx in demand from the oil and gas industry, which is expected to boom in countries such as India and China.
The key application segment for the IMCC market is the oil and gas industry, which is expected to grow at a CAGR of 9.32%. The mining and metals industry is also creating significant demand for the IMCC market, through increasing automation in the metal manufacturing process.
View Full Table of Contents of Intelligent Motor Control Centers (IMCC) Market:
IMCC Market: Trends and Growth Drivers
·Reduced Installation Cost and Time –
IMCCs are preconfigured, pretested, and ready-to-install systems. On the other hand, conventional MCCs take time to install; thereby shooting up installation costs. Moreover, in IMCC, cabling cost is lesser as compared to conventional MCCs. Reduced installation cost and time is a major driver behind increasing revenue for the IMCC market.
·Reduced Labor Cost and Energy Efficiency –
IMCC software is incorporated with all the facilities for monitoring, configuration, and reconfiguration of devices; which reduce the need for human interference in setting up the system. Furthermore, IMCCs also have troubleshooting functionalities which reduce the downtime. The demand for IMCCs is also growing in large part due to its advanced energy management capabilities, which ensure lower energy consumption as compared to more conventional systems.
IMCC Market: Competitive Landscape
Some key companies identified in the IMCC market intelligence report are Eaton Corporation, Inc., Schneider Electric SE, Siemens AG, Rockwell Automation, Inc., General Electric Company, ABB, COMECA, and others.
Talk to one of our sales representative about the full report by providing your details in the link below:
a) Factory Automation Mechanical Component Market
b) Industrial Motors Market
What can you expect from the report?
The Intelligent Motor Control Centers (IMCC) Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Intelligent Motor Control Centers (IMCC) Market Size by Product Categories & Application
2. Intelligent Motor Control Centers (IMCC) Market trends & Relevant Market Data
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Intelligent Motor Control Centers (IMCC) Market Demand Analysis (Revenue & Volume)
12. Country-level Analysis
13. Competitor Analysis
14. Intelligent Motor Control Centers (IMCC) Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Intelligent Motor Control Centers (IMCC) Market Strategic Analysis
18. Intelligent Motor Control Centers (IMCC) Market Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Intelligent Motor Control Centers (IMCC) Market Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
1. Increase the level of data in application or end user industry.
2. Increase the number of countries in geography chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you.
4. Company profiles can be requested based on your interest.
5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
Any other custom requirements can be discussed with our team, drop an e-mail to firstname.lastname@example.org to discuss more about our consulting services.
Mr. Venkat Reddy
Contact Sales: +1-614-588-8538 (Ext-101)
About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.