The Global Industrial Motor Management and Control Device Market is expected to reach US$XX billion by 2027 from US$XX billion in 2019 with a CAGR of 5.25%.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
The report has also covered, raw material availability and its analysis, demand drivers by region, pricing by region, and profit margins of key players in the industry. A brief analysis of restraints and challenges in the market is also covered with examples by region. It also has covered the analysis of key player’s growth strategies, micro and macro analysis of markets, key developments, and key trends in the market.
Industrial motors are the devices that convert electrical energy into Kinetic energy, these motors are used in different industries such as mining, manufacturing, aerospace, and others. Control devices are used to operate these motors in the industry.
Global Industrial Motor Management and Control Device Market Dynamics
Drivers: Growing Automation in the industries is the major driving factor for the market
The increasing popularity of electric motors is accelerating the demand of the market up to a certain extent. A rise in motor breakdowns and their maintenance cost is expected to drive the market during the forecast period. Moreover, electric motors consume almost half of the world’s electricity, and the consumption rate is expected to increase in the future because of the developments in the industries. The rising demand for smart multifunctional motor control and industrial downtime reduction are some of the factors propelling the market. Increasing use of Electric motors in various industries will provide significant growth to the market during the forecast period. Industrial motor management and control devices also assist to reduce power consumption.
Restraints: the preference for the use of traditional devices to manage industrial motors.
Some of the industries prefer to use traditional systems instead of control devices. In addition to this, a lack of awareness of the motor management system and control devices is another restraining factor for the market.
Opportunities: Technological advancement and up gradation of traditional control systems will create new opportunities during the forecast period.
The growing use of automation in various industries and the up-gradation of industrial motor management systems will create new opportunities during the forecast period. Moreover, growing applications of electric motors will also provide opportunities during the forecast period.
Challenges: The growing price of control devices due to the complexity of the function and architecture.
Scope of the Global Industrial Motor Management and Control Device Market: Inquire before buying
Global Industrial Motor Management and Control Device, by Industry
• Manufacturing
• Mining
• Oil and Gas
• Aerospace
• Others
Mining, Manufacturing, and Oil & Gas industries are expected to hold the largest market shares and growth by xx$ Bn. During the forecast period.
Control devices are widely used by a large number of manufacturers for the efficient control of industrial motors. Application of control devices in Industrial motor management provides certain benefits which include energy-saving, less wear and tear, precise control, and overall efficient working of the motor. Control devices are automatic, manual, and remote various control devices used in the industry include motor starters, reduced voltage starters, adjustable speed drivers, intelligent controllers, servo controllers, and others.
Global Industrial Motor Management and Control Device Market
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Global Industrial Motor Management and Control Device Market, by Product
• Hardware
• Software
The Software segment leads the global market with significant growth during the forecast period.
Use of software segment expected to expand during the forecast period. The software segment includes current regulation, fault detection, starting and stopping of the motor, control of the motor, and others. Technological advancement will improve the applicability of the software segment in the Global Industrial Motor Management and Control Device market.
Global Industrial Motor Management and Control Device Market1
Global Industrial Motor Management and Control Device Market, by Type
• Synchronous
• Asynchronous
The asynchronous segment is expected to dominate the Global Industrial Motor Management and Control Device Market with certain growth during the forecast period.
Asynchronous motors are trending in the industry because of their ruggedness and simplicity. When operated at 60Hz, asynchronous motors can run at a constant speed. These motors are also known as induction motors. Asynchronous motors have less maintenance as compared to synchronous.
Global Industrial Motor Management and Control Device Market, by Voltage
• High Voltage
• Medium Voltage
• Low Voltage
The high voltage segment is expected to dominate the global market during the forecast period
Based on the voltage range, the market is categorized into low voltage, medium voltage, and high voltage. Manufacturing industries use machines like pumps, conveyors, and others, these machines require asynchronous motors. Asynchronous motors work on high voltage.
Global Industrial Motor Management and Control Device Market, by Region.
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
North America is expected to hold the largest market share in the Global Industrial Motor Management and Control Device Market during the forecast period. Both in terms of value and quantity.
Increasing technological advancement in the region is accelerating the growth of the market in North America. Upgradation and replacement of traditional motor management systems and control devices will propel the growth of the Global Industrial Motor Management and Control Device Market during the forecast period.
The Asia Pacific is the second – largest growing region for the Global Industrial Motor Management and Control Device Market. The Manufacturing and Export services in the Asia Pacific are the reason behind the growth. Increasing FDI and the Presence of key players in the region will propel the growth of the market in the region. Moreover, APAC holds 50% shares of the global electric motors market which will assist the growth in the region during the forecast period. The Middle East & Africa will also experience certain growth with the rise in the application of Industrial motors in the oil and gas industry. However, Growth in Europe will be stable as compared to other regions.
Global Industrial Motor Management and Control Device Market2
Covid-19 Impact on the Industrial Motor Management and Control Device Market:
• The coronavirus pandemic has placed tremendous pressure on businesses and sectors across the globe. Governments from all countries have introduced a lock-up to detect the transmission of infectious diseases. The contribution of these regulations makes a negative impact on manufacturing and the supply chain.
• The coronavirus adversely impacted the manufacturing and service sector. The interruption of export and import operations due to limitations on foreign flights would further restrict the market's development. The disruption caused by the lockdown would harm the market. Most of the industries are not functioning due to the influence of Covid-19 which caused a destructive impact on the industrial motor management and control device market.
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Key Players in Global Industrial Motor Management and Control Device Market
• General Electric
• Siemens AG
• Mitsubishi Electric Corporation
• Eaton Corporation Plc
• Schneider Electric SE
• Hitachi Ltd.
• Texas instrument
• ABB Ltd.
Global Industrial Motor Management and Control Device Market, By Industry
• Manufacturing
• Mining
• Oil and Gas
• Aerospace
• Others
Global Industrial Motor Management and Control Device Market, By Product
• Hardware
• Software
Global Industrial Motor Management and Control Device Market, By Type
• Synchronous
• Asynchronous
Global Industrial Motor Management and Control Device Market, By Voltage
• High Voltage
• Medium Voltage
• Low Voltage
Global Industrial Motor Management and Control Device Market, By Region
• Asia-Pacific
• North America
• Europe
• South America
• Middle East & Africa
This Report Is Submitted By : Maximize Market Research Company
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