Dublin, June 02, 2021 (GLOBE NEWSWIRE) -- The "Motor Controller Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Motor Type, DC Motor, Output Power Range, Voltage Type, and End-User" report has been added to ResearchAndMarkets.com's offering.
The motor controller market was valued at US$ 2,800.7 million in 2020 and is projected to reach US$ 4,674.1 million by 2028; it is expected to grow at a CAGR of 6.61% from 2020 to 2028.
The rising investments in electric motor vehicles are fostering the demand for motor controller across the world. Many automotive companies worldwide are initiating to manufacture electric motor vehicle on a large scale. For instance, in August 2020, Hitachi Automotive Electric Motor Systems Ltd. established Hitachi Automotive Electric Motor Systems America, Inc. in Kentucky for the development, manufacturing, and sale of electric vehicle motors. The ongoing investment in electric vehicle manufacturing in the US is expected to bolster the motor controller market in coming years. Furthermore, several supportive governments policies for the manufacturing sector are propelling the demand for motor controller devices in developing nations. For Instance, the Make in India campaign by the Government of India has motivated many domestic and foreign players to set up their manufacturing plants in India.
The rising adoption of the Industrial Internet of Things (IIoT) in the manufacturing sector is providing noteworthy opportunities to the motor controller market players. The widespread use of robotics, sensors, centralized tracking, and quality inspection to form a smart manufacturing plant is triggering the adoption of IIoT. Technological advancements in the field of IoT, for designing ecosystem plants to reduce the power consumptions and increase factory's safety is expected to increase the demand for motor controller in the upcoming years. Further, the advent of artificial intelligence (AI) usage in IIoTs for advancing the automation of plants and machines are expected to boost the demand for AI enabled motor controller devices in coming years. The demand for motor controllers is set to increase in residential applications as the IoT facilitates the integration of residential spaces with connected devices. Further, IIoT-powered industrial control systems (ICS) facilitate productivity and safety at work; these systems manage temperature and sensory equipment, manufacturing lines, and security devices, among others.
A few key companies operating in the motor controller market and profiled in the report are Mitsubishi Electric Corporation.; Schneider Electric; Fanuc Corporation; Yaskawa Electric Corporation.; Nidec Industrial Solution; Rockwell Automation, Inc.; Panasonic Corporation.; and ABB.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Motor Controller Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Motor Controller Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 High Demand for Advanced and Automated Processes in Industrial Sector
5.1.2 Rising Investments in FMCG Sector and Supportive Government Policies for Manufacturing Sector in Developing Countries
5.2 Market Restraints
5.2.1 High maintenance Cost of Direct Control (DC) Motor
5.3 Market Opportunities
5.3.1 Escalating Adoption of Industrial Internet of Things
5.4 Future Trends
5.4.1 Growing Intelligent Motor Controllers
5.5 Impact Analysis of Drivers and Restraints
6. Motor Controller - Global Market Analysis
6.1 Overview
6.2 Global Motor Controller Market Forecast and Analysis
6.2.1 Global Motor Controller Market, by Region - Revenue and Forecast to 2028 (USD Million)
6.3 Market Positioning - Global Market Players Ranking
7. Motor Controller Market Analysis - By Motor Type
8. Motor Controller Market Analysis - By Output Power Range
9. Motor Controller Market Analysis - By Voltage Type
10. Motor Controller Market Analysis - By End-User
11. Motor Controller Market - Geographic Analysis
12. Impact of COVID-19 Outbreak
12.1 Overview
12.2 Impact of COVID-19 Pandemic on Global Motor Controller Market
12.2.1 North America: Impact Assessment of COVID-19 Pandemic
12.2.2 Europe: Impact Assessment of COVID-19 Pandemic
12.2.3 Asia-Pacific: Impact assessment of COVID-19 Pandemic
12.2.4 MEA: Impact Assessment of COVID-19 Pandemic
12.2.5 SAM: Impact Assessment of COVID-19 Pandemic
13. Global Motor Controller Market-Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Merger and Acquisition
13.4 New Development
14. COMPANY PROFILES
14.1 ABB Ltd.
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 AMETEK Inc.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Eaton Corporation plc
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 General Electric Company
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 ANAHEIM AUTOMATION, INC
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 ARC SYSTEMS INC
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 ErieTec Inc
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Microchip Technology Inc.
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Nidec Corporation
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Parker-Hannifin Corporation
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/b02r5h