Motor Management Market is highly fragmented and is based on new product launches and clinical results of products. Motor management Industry accounted to USD XX.XX million in 2017 growing at a CAGR of XX.XX% during the forecast period of 2018 to 2025, Globally. Motor management market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Motor Management motors carry out multiple functions such as starting, stopping, and protecting motors and their operational control. Motor Management integrates hardware and software to control the motors. This is used in several industrial applications where multiple remotely controlled loads are connected to a control point. The latest trend in this market is energy saving and predictive maintenance of industrial equipment to stay competitive in the market. There is need of electric motor for several industries like oil and gas, chemicals, metal & mining and others will create a huge market for the Motor Management. Some of the major players operating in Motor Management market are
- ABB Ltd
- Analog Devices, Inc
- Eaton Corporation
- General Electric (GE)
- Hitachi Ltd.
- Mitsubishi Electric Corporation
- Rockwell Automation
- Schneider Electric SE
- Siemens AG
- Texas Instruments Inc.
Others: Rong Daxing Electric, Tianneng Group, Ametek Inc., Anaheim Automation Inc, Bartec Gmbh, Bosch Rexroth Ag, C3Controls, Fanox Electronic S.L, Larsen & Toubro, Renesas Electronics among others. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares for global, Europe, North America, Asia Pacific and South America.
In 2017, ABB acquired B&R, a major player in machine and automation. This will help the ABB to strengthen its position in market.
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- On the basis of type the Motor Management market is segmented into
- Synchronous Motor
- Asynchronous Motor
- The synchronous motor market is expected to grow in the forecasted period.
- On the basis of product & services the Motor Management market is segmented into
- Software solution & service
- The software solution & service market is expected to grow in the forecasted period.
- On the basis of control the Motor Management market is segmented into
- The Automatic market is expected to grow in the forecasted period.
- On the basis of application the Motor Management market is segmented into
- Material Handling
- The Material handling market is expected to grow in the forecasted period.
- On the basis of end-user the Motor Management market is segmented into
- Oil & Gas
- Metals & Mining
- Power Generation
- Food & Beverages
- Water Supply and Wastewater Treatment, Others
- The Oil & gas market is expected to grow in the forecasted period.
- On the basis of geography, Motor Management market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa.
- Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
- North America is expected to dominate the market.
Global Motor Management Major Market Drivers and Restraints:
- Increasing Demand for Smart, Multifunctional, Integrated Motor Control
- For Reduction in Unplanned Industrial Downtime
- Dominance of Conventional Motor Management and Controllers
- Lack of Awareness
- Decreasing Greenfield Investments in the Oil & Gas Industry
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