The latest report on “Intelligent Motor Controller Market (Motor Type – AC, DC, and Other Motor Types; Voltage – Low Voltage, and Medium Voltage; Application – Pumps, Fans, Compressors, and Other Applications; End-user – Oil & Gas, Water & Wastewater, Power Generation, Metals & Mining, Chemicals & Petrochemicals, and Other End-users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global intelligent motor controller market is projected to grow at a CAGR of 5.5% over the forecast period of 2019-2025.
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Growing Demand for Smart, Multifunctional, And Integrated Motor Control Centers from Various End-Use Industries are the Major Driver for the Global Intelligent Motor Controller Market
The rising technological advancements in the field of electronics and computing have affected several end-use industries including food & beverage, pharmaceuticals, power generation, oil & gas, mining, chemicals, and others. The intelligent motor controllers are the product of this technological advancement. The intelligent motor controller is an addition to the conventional motor control center, which is used for functions such as power switching, short-circuit protection, local and remote actuation, and controller state indication in an industrial plant.
Besides, the intelligent motor controller can also carry out functions including network configuration, diagnostics, and advanced protection of each manufacturing unit. These additional features contribute to the growing popularity of the intelligent motor controllers. Moreover, the intelligent motor controllers help in improving the productivity and efficiency of the industrial plant.
The growing demand for smart, multifunctional, and integrated motor control centers from various end-use industries are the major driver for the global intelligent motor controller market. Conventionally, an industrial plant requires the number of traditional motor controllers for smooth running on the workflow. While a single intelligent motor controller can carry out the function of several traditional motor controllers with higher efficiency. Moreover, the increase in the adoption of automation in various end-use industries, particularly in the developed regions, is one of the factors propelling the intelligent motor controller market.
Automation reduces human interference on the work floor and increases the accuracy and productivity of the plant. The chances of committing errors with automation are anticipated to be reduced dramatically. By using the intelligent motor controllers the work floor can be automated effectively and efficiently. However, the high cost of integration of the intelligent motor controller system into the plant is expected to be the major restraining factor for the growth of the market. Nevertheless, stringent government regulations regarding energy efficiency and safety standards are predicted to offer favorable business opportunities to the intelligent motor controller vendors.
European Region Generated the Highest Revenue in the Global Intelligent Motor Controller Market
In terms of geography, the European region generated the highest revenue in the global intelligent motor controller market. The largest market share of the European region attributed to the higher adoption of smart devices and equipment in the region. Higher disposable income, improved technological infrastructure, and the presence of leading market players are some of the reasons boosting the sale of smart devices in the region. This, in turn, augments the demand for intelligent motor controllers in Europe.
North America is the second-largest market for the intelligent motor controllers owing to better infrastructure and large industrial areas. While the Asia Pacific is anticipated to grow with the fastest rate over the forecast period. The rapidly growing industrialization, increasing investment in infrastructure by the government and improving economic conditions are some of the factors contributing to the growth of the intelligent motor controller in the Asia Pacific.
The report on the global intelligent motor controller market covers segments such as motor type, voltage, application, and end-user. On the basis of motor type, the sub-markets include ac, dc, and other motor types. On the basis of voltage, the sub-markets include low voltage and medium voltage. On the basis of application, the sub-markets include pumps, fans, compressors, and other applications. On the basis of end-user, the sub-markets include oil & gas, water & wastewater, power generation, metals & mining, chemicals & petrochemicals, and other end-users.
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The report provides profiles of the companies in the market such as ABB Ltd, General Electric Company, Rockwell Automation, Inc., Siemens AG, Schneider Electric SE, Mitsubishi Electric Corporation, Larsen & Toubro Limited, LSIS Co. Ltd., Fairford Electronics Ltd., Roboteq Inc., and Other Companies.
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=> Comprehensive analysis of global as well as regional markets of the intelligent motor controller.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.