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.
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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.
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.
- 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
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.
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.
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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
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