The global DC motor control devices market size is expected to reach USD 2.13 billion by 2030, exhibiting a CAGR of 6.5% from 2023 to 2030, according to the report. DC electric motors are being widely used in modern systems, whether in consumer electronics, or industrial, automotive, and transportation industries. Improved performance of these motors in such applications is a result of the underlying electronic controls that are able to rapidly execute sophisticated control algorithms. Thus, increasing demand for motors in such applications, coupled with improved motor performance, is anticipated to drive the market over the forecast period.
Sensorless motor control devices are generally used to reduce overall cost of actuating devices. However, with advancements in sensor control techniques, the market for DC motor control devices is anticipated to gain traction over the forecast period. Furthermore, recent market requirements, such as compatibility with IE3 motors, and changes in motor control systems in several application areas such as industrial, consumer electronics, and medical devices are expected to favor market growth over the coming years.
The market is expected to witness significant demand from the automotive industry owing to introduction of vehicle safety standards to control fuel emissions and increasing adoption of engine control units (ECUs) in modern automobiles. Additionally, growing R&D activities to improve energy efficiency of electric motors are anticipated to boost market growth. For instance, the U.S. Department of Energy invested a substantial amount in 13 R&D projects pertaining to technological advancements in electric motors. These advancements are expected to positively impact the efficiency and performance of motor devices when used in various end-use industries.
However, factors such as uncertainties in raw material prices, limited availability of components, and reduction in overall production of raw materials are contributing to increased product costs, thereby negatively impacting market growth. In order to overcome these challenges, major companies are undertaking several measures to maintain consistency in prices and availability of raw materials. These companies have been entering into long-term supplier contracts to mitigate risks associated with quality and quantity of materials.
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Sensorless motor control devices are generally used to reduce overall cost of actuating devices. However, with advancements in sensor control techniques, the market for DC motor control devices is anticipated to gain traction over the forecast period. Furthermore, recent market requirements, such as compatibility with IE3 motors, and changes in motor control systems in several application areas such as industrial, consumer electronics, and medical devices are expected to favor market growth over the coming years.
The market is expected to witness significant demand from the automotive industry owing to introduction of vehicle safety standards to control fuel emissions and increasing adoption of engine control units (ECUs) in modern automobiles. Additionally, growing R&D activities to improve energy efficiency of electric motors are anticipated to boost market growth. For instance, the U.S. Department of Energy invested a substantial amount in 13 R&D projects pertaining to technological advancements in electric motors. These advancements are expected to positively impact the efficiency and performance of motor devices when used in various end-use industries.
However, factors such as uncertainties in raw material prices, limited availability of components, and reduction in overall production of raw materials are contributing to increased product costs, thereby negatively impacting market growth. In order to overcome these challenges, major companies are undertaking several measures to maintain consistency in prices and availability of raw materials. These companies have been entering into long-term supplier contracts to mitigate risks associated with quality and quantity of materials.
DC Motor Control Devices Market Report Highlights
- Asia Pacific accounted for the largest market share of 41.8% in 2022 and is expected to capture the largest CAGR of 7.8% during the forecast period. Increasing government investments in manufacturing electric vehicles and controlling fuel emissions are anticipated to boost market growth in the region over the forecast period.
- The COVID-19 pandemic had a mixed impact on the market for DC motor control devices. The global supply chains for these devices were significantly disrupted, leading to delays in production and distribution.
- The medical devices segment is expected to grow at the fastest CAGR of 9.8% over the forecast period. Unprecedented technological advances, coupled with baby boomers' retirement, have created growth potential for companies supplying components for medical applications.
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. DC Motor Control Devices Market Variables, Trends & Scope
Chapter 4. DC Motor Control Devices Market: Application Estimates & Trend Analysis
Chapter 5. DC Motor Control Devices Market: Regional Estimates & Trend Analysis
Chapter 6. Competitive Landscape
List of Tables
List of Figures
Companies Profiled
- ABB
- Eaton
- General Electric
- KB Electronics, Inc.
- OMRON Corporation
- Schneider Electric
- Rockwell Automation
- STMicroelectronics
- TOSHIBA CORPORATION
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | November 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 1.28 Billion |
| Forecasted Market Value ( USD | $ 2.13 Billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
