Global Motor Management Market is expected to reach US $ 6.16 BN By Forecast year 2028

August 24 06:58 2021
Global Motor Management Market is expected to reach US $ 6.16 BN By Forecast year 2028
Motor Management – Global Market Outlook (2020-2028)
Motor Management Market size is expected to grow from US $ 3.52 BN in 2020 to US $ 6.16 BN by 2028, at a CAGR of 7.3% a Stratistics Market Research Report

The market report “Motor Management Market by Types (Synchronous Motors and Asynchronous Motors), Products (Software & Solution Services and Hardware), Voltage Ranges (Low Voltage (60 to 240 Volt AC), Medium Voltage (250 to 395 Volt AC) and High Voltage (396 to 485 Volt AC)), Applications (Compressors, Material Handling and Pumps), Controls (Semi-Automatic Controls, Automatic Controls and Manual Controls), End Users (Food & Beverages, Cement, Power Generation, Water Supply and Wastewater Treatment Industry, Chemicals & Petrochemicals, Metals & Mining, Oil & Gas and Agriculture) and Region – Forecast to 2028”. The motor management market is growing at a CAGR of 7.3% by 2028, owing to the rising need for reducing unplanned industrial downtime.

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Based on control, the automatic controls segment is estimated to grow at highest CAGR segment during the study period.
On the basis of control, the market is categorized into semi-automatic controls, automatic controls, and manual controls. The automatic controls segment is estimated to be the fastest growing market segment as they are provided with software such as InstaSPIN, and EnerVista software and SynRM software together with the completely self-operating functionality of motors with microcontrollers.

Based on type, the synchronous segment is anticipated to grow faster during the forecast period.
On the basis of type, the market is segmented into synchronous motors and asynchronous motors. The synchronous motors segment is projected to grow faster during the forecast period owing to the high efficiency of AC synchronous motors which in turn rise the demand for superior machine control in the automotive industry.

By geography, Asia Pacific is expected to dominate the market
On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific is experiencing a dominant position in the motor management market. This is mainly due to the expansion of various industries like oil & gas, power generation, metals & mining, etc. Moreover, owing to emerging countries like India and China, and availability of land is expected to drive the global motor management market in the Asia Pacific.

The key players in this market are General Electric, Texas Instruments, Siemens AG, Schneider Electric SE, ABB Ltd., Eaton Corporation Plc, Mitsubishi Electric Corporation, Rockwell Automation, Hitachi, Ltd., Analog Devices, Ametek, Nidec Motor Corporation, Nanotec Electronic GmbH & Co KG, WEG and Bosch Rexroth AG.

Types Covered:
• Synchronous Motors
• Asynchronous Motors

Products Covered:
• Software & Solution Services
• Hardware   

Voltage Ranges Covered:
• Low Voltage (60 to 240 Volt AC)
• Medium Voltage (250 to 395 Volt AC)
• High Voltage (396 to 485 Volt AC)  

Applications Covered:
• Compressors
• Material Handling
• Pumps

Controls Covered:
• Semi-Automatic Controls
• Automatic Controls
• Manual Controls

End Users Covered:
• Food & Beverages
• Cement
• Power Generation
• Water Supply and Wastewater Treatment Industry
• Chemicals & Petrochemicals
• Metals & Mining
• Oil & Gas
• Agriculture 

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