Global Motor Management Market By Product (Hardware, Software & Solution Services), Type (Asynchronous Motors, Synchronous Motors), Control (Automatic Controls, Semi-Automatic Controls, Manual Controls), Voltage Range (Low Voltage, Medium Voltage, High Voltage), Application (Pumps, Compressors, Material Handling, Others), End-Use Industry (Metals & Mining, Oil & Gas, Power Generation, Water & Wastewater, Food & Beverages, Agriculture, Chemicals & Petrochemicals, Cement, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Market Analysis: Global Motor Management Market
Global Motor Management Market is expected to rise from its initial estimated value of USD 3.22 billion in 2018 to a projected value of USD 5.15 billion by 2026, registering a CAGR of 6.03% in the forecast period of 2019-2026. This rise in market value can be attributed to growth in demand for automated motor management products & solutions.
Market Definition: Global Motor Management Market
Motor management can be defined as the process of organising the motors and machineries present in a factory. This process of technology integrates the hardware of motors with modernised digital software solutions making it manageable through these systems. These machines are connected to a common control point, where they are tasked with different operating and stop cycle. This process offers significant energy savings and also informs the user regarding the requirement of maintenance of machines.
- Rise in the need for reduction of unintentional breakdown of motors; this factor is expected to drive the market growth
- Preference and adoption of traditional methods of motor management is expected to restrain the market growth
Segmentation: Global Motor Management Market
- By Product
- Software & Solution Services
- By Type
- Asynchronous Motors
- Synchronous Motors
- By Control
- Automatic Controls
- Semi-Automatic Controls
- Manual Controls
- By Voltage Range
- Low Voltage (60-240 Volt AC)
- Medium Voltage (241-395 Volt AC)
- High Voltage (396-485 Volt AC)
- By Application
- Material Handling
- By End-Use Industry
- Metals & Mining
- Oil & Gas
- Power Generation
- Water & Wastewater
- Food & Beverages
- Chemicals & Petrochemicals
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In July 2018, ABB announced that they had completed the acquisition of GENERAL ELECTRIC’s Industrial Solutions (GEIS). This acquisition will help in expanding ABB’s business divisions significantly and will help create ABB as a global leader for electrification & industrial solutions.
- In January 2017, Nidec Motor Corporation announced that they had completed the acquisition of Emerson Electric Co.'s motors, drives and electric power generation business divisions. The companies working in this division have been transformed into Nidec’s subsidiaries. With this acquisition, Nidec is expected to expand their business and significantly increase its market share.
Global motor management market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of motor management market for global, Europe, North America, Asia-Pacific and South America.
Major Market Competitors/Players
BARTEC; Fanox; IAR Systems; Analog Devices, Inc.; LARSEN & TOUBRO LIMITED; Boston Engineering Corporation; Velmex, Inc; Texas Instruments Incorporated; Arm Limited; Bosch Rexroth AG; Mitsubishi Electric Corporation; ABB; WEG; Rockwell Automation, Inc.; Nidec Motor Corporation; Fuji Electric Co., Ltd.; Anaheim Automation, Inc.; Eaton; Nanotec Electronic GmbH & Co KG; Renesas Electronics Corporation; GENERAL ELECTRIC; c3controls; AMETEK.Inc.; Hitachi, Ltd.; Schneider Electric and Siemens are few of the major competitors currently working in the motor management market.
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved