Global Motor Management Market, By Type (Synchronous Motor, Asynchronous Motor) By Product and service (Hardware, software solution &service), By Control, By Application By End-User, By Geography – Industry Trends and Forecast to 2024
The Global Motor Management Market accounted to USD 3.0 billion in 2016 growing at a CAGR of 5.5% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Global Motor Management Market Definition:
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.
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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Global Motor Management Market Segmentation:
The market is segmented on the basis of type, product, application, end-user and geography.
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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 Hardware, 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 Automatic, Semi-Automatic, and Manual. The Automatic market is expected to grow in the forecasted period.
On the basis of application the motor management market is segmented into Pumps, Compressors, Material Handling, Others. 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, Chemicals, Cement, Food & Beverages, Agriculture, Water Supply and Wastewater Treatment, Others. The Oil & gas market is expected to grow in the forecasted period.
Based on Geography the market is segmented into five geographical regions:
- North America
- South America
- 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. In 2017, North America is expected to dominate the market.
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Global Motor Management Market Competitive Analysis:
Motor Management Market is highly fragmented and is based on new product launches and clinical results of products. 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 of flow cytometry market for global, Europe, North America, Asia Pacific and South America.
Global Motor Management Market Major Market Competitors:
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., TraceRat, 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. 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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