The motor management market is estimated to witness a CAGR of 4.40% to reach US$5.015 billion in 2024 from US$3.872 billion in 2018. Motor management is concerned with the electrical, mechanical, and maintenance solutions for the electrical equipment installed in a facility. Industries consume a significant proportion of electricity, and there is a growing global focus on optimizing electricity usage in the industrial sector. As such, the demand for motor management solutions is increasing on account of their ability to ensure the optimal functioning of the electrical equipment that results in better productivity while generating significant savings for the manufacturers as well. The rising automation in various industries is anticipated to propel the demand for motor management market in the coming years. Furthermore, growing attention towards enhancing the efficiency of the motor-driven systems is expected to fuel the motor management market during the forecast period.
The market has been segmented on the basis of type, application, industry vertical and geography. Geographically, North America is projected to hold a significant share in the market on account of early adoption of technology along with the rising focus to increase the efficiency and reduce the downtime maintenance. The Asia Pacific is also anticipated to grow at a substantial rate owing to the rising manufacturing and infrastructure industry in countries such as India and China.
Drivers
Growing demand for smart motor control devices.
Increasing adoption of industrial automation.
Restraints
Lack of awareness regarding motor management devices.
The major players profiled in the Motor Management market include Siemens AG, Schneider Electric, ABB, General Electric Company, Eaton, Rockwell Automation, Inc., Hitachi Ltd., Fanox, RJW Engineering, and Toshiba International Corporation.
Segmentation
The motor management market has been analyzed through the following segments:
By Type
By Application
By Industry Vertical
By Geography
The market has been segmented on the basis of type, application, industry vertical and geography. Geographically, North America is projected to hold a significant share in the market on account of early adoption of technology along with the rising focus to increase the efficiency and reduce the downtime maintenance. The Asia Pacific is also anticipated to grow at a substantial rate owing to the rising manufacturing and infrastructure industry in countries such as India and China.
Drivers
Growing demand for smart motor control devices.
Increasing adoption of industrial automation.
Restraints
Lack of awareness regarding motor management devices.
The major players profiled in the Motor Management market include Siemens AG, Schneider Electric, ABB, General Electric Company, Eaton, Rockwell Automation, Inc., Hitachi Ltd., Fanox, RJW Engineering, and Toshiba International Corporation.
Segmentation
The motor management market has been analyzed through the following segments:
By Type
- Hardware
- Software & Solution Services
By Application
- Pumps
- Compressors
- Material Handling
- Others
By Industry Vertical
- Metallurgy
- Oil & Gas
- Energy & Power
- Food & Beverage
- Chemical
- Mining
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Others
Table of Contents
1. INTRODUCTION
2. RESEARCH METHODOLOGY
4. MARKET DYNAMICS
5. MOTOR MANAGEMENT MARKET BY TYPE
6. MOTOR MANAGEMENT MARKET BY APPLICATION
7. MOTOR MANAGEMENT MARKET BY INDUSTRY VERTICAL
8. MOTOR MANAGEMENT MARKET BY GEOGRAPHY
9. COMPETITIVE INTELLIGENCE
10. COMPANY PROFILES
Companies Mentioned
- Siemens AG
- Schneider Electric
- ABB
- General Electric Company
- Eaton
- Rockwell Automation, Inc.
- Hitachi Ltd.
- Fanox
- RJW Engineering
- Toshiba International Corporation
Methodology
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