Global Motor controllers Market Introduction
Nearly 44% of the global energy is consumed by motors. Motor controllers plays an important role in the functioning of the motor. Motor controllers are simply components which regulate and control the operating of the motor. Motor controller may act as a starter, contactor, relay or a switch. Motor controller is the made of various components including resisters, transistors, diodes, and others, mounted on a printed circuit boards. The motor controllers have various functions in different types of motors. It protects motor from high voltages, it controls the speed of the motor, it saves energy, and it monitors the motor performance. The principle working of the controllers is to transform, regulate and control the flow of current. Therefore motor controllers is a crucial accessory of the motor. Increasing motor demand from various industries and household appliances, is driving the global motor controllers market, during the forecast.
Global Motor controllers Market Dynamics:
The motor controllers market is projected to grow in coming years, due to advanced technologies and their applications in the global electronic and electrical market. The demand of motor controllers is growing in various applications including process automation, elevator control, assembly/packaging, robotics, flight control systems, and others. Increasing purchasing power of the population in the emerging countries is pushing the demand for electronic and electrical appliances, which is expected to push the demand for the motor controller during the forecast period. Growing industrial infrastructure and automotive industry is also pushing the motor controller demand. The global motor controller market is also driven by the growth in the global electric vehicles market. Rise in number of passengers has been observed in the past few years, in commercial and heavy vehicles. Therefore the demand for electric vehicle is expected to increase the opportunities for the motor controller market.
Advanced technologies comes with higher manufacturing costs. Higher price of the motor controllers is restraining its demand in the market. Additionally, the increasing competition from Chinese and other Asian players is hindering the growth of the market.
Motor Controllers Market Trends
New microchips are being developed by various manufacturers for the controlling of the motors. Innovations and developments in the motor controllers market has been observed to improve the motor performance and efficiency.
Global Motor controllers Market Segmentation
The global motor controllers market can be segmented on the basis of type, end use industry, and region.
On the basis of type, the global motor controllers market can be segmented as:
On the basis of End Use Industry, the global motor controllers market can be segmented as:
Growing investment and industrial development along with automotive industry globally is expected to push the growth of motor controllers market
The growth in demand of electric motor globally is largely driven by the increasing industrial infrastructure and income levels in emerging countries. The adoption of advanced cooing systems in developed countries of North America and Europe along with technological developments is expected to fuel the growth of motor controllers market during the forecast period. In the emerging countries, the rise in investment in the sectors such as infrastructure, industry, and aviation sectors will directly creating demand gap of motor controllers. The demand of motor controllers is expected to remain high during the forecast period due to the growing electronic and electrical industry. The motor controller market is expected to be driven by Asia Pacific. China, Korea and Japan collectively contributed the large part of the global demand for the motor controllers. India is projected to grow fast during the forecast due to economy growth, developments in the industrial infrastructure and automotive industry.
Global Motor controllers Market Participants
Some of the market participants identified across the value chain of global Motor controllers market are:
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.
The report covers exhaustive analysis on:
Regional analysis includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The multifaceted role of motor controllers in controlling the functions of motors as a starter, relay, constrictor, and switch significantly pushes ahead the boundaries of growth of the global motor controllers market. Different vital functions of these controllers include the protection of control from high voltage, energy saving, speed regulation, and performance monitoring.
The fast-paced advancements in technology are expected to propel the pace of progress of the global market in the coming years. The surge in the consumption of electrical and electronic products in the developing economies on the back of increasing disposable income is projected to fuel the demand for motor controls during the forecast period. The dramatic rise in the electrical vehicle market buoyed by the government initiatives is expected to have a huge impact on the growth of the global motor controllers market.
Major applications of the motor controllers include process automation, robotics, flight control system, elevator control, and assembly/packaging. The global market can be broadly classified into AC motor controllers and DC motor controllers, based ok n its type. Different prominent end-use industries in the global motor controller market include Industrial, Medical, Defense segments, Automotive, Avionics, and Household Appliances. The demand has been increasing in the industrial as a well residential segment. The automotive sector is estimated to bolster the market growth with a steep hike in the demand by the end of the forecast period.
Electric Vehicles Drive Market Growth
The growing preference for electric vehicles has opened new doors of opportunities for the manufacturers. The new feature integration and software developments in the motor controller for electric vehicles are projected to strengthen the growth trajectory of the global market during the forecast period. The varieties of motors for electric vehicles such as stepper motor, brushed DC motor, brushless DC motor, switched reluctance motor and AC induction motor is expected to boost the progress of the market. New scopes of hardware and software development in the motor controllers is generating profitable avenues for the manufacturers.
Developing economies across the globe can be held responsible for the burgeoning growth of the global motor controllers market on the back of huge consumption of motor controllers in the fast-paced industrial and manufacturing segments. Developed economies such as North America and Europe are generously investing in their infrastructure and aviation sectors, which is projected to impart growth to the motor controller market in the coming years. India is estimated to exhibit promising growth during the forecast period, progressing ahead with the rapid progress of the infrastructure industry and automotive industry.
Manufacturers are leveraging advanced technologies to develop components such as new microchips to stay ahead in the market competition. Market players are investing in innovations to develop new products to enhance their product portfolio. They are finding growth prospects in the prospering sectors such as automotive to strengthen their market presence. Established payers profiled in the global motor controllers market include Rockwell Automation, Inc., Mitsubishi Electric Corporation, Bosch Rexroth AG, Siemens AG, Parker-Hannifin Corp, Regal Components, Control Solutions LLC, and Leonardo DRS.