Motors are used for various applications in industry like Aerospace, Mining. Control devices and various software provide constant speed, low voltage motors, and provides complete protective, monitoring, and control. The usage of control devices provides several benefits such as energy saving, precise control, and less wear and tear of motors through efficient monitoring of loads. Rise in demand for automation in industry, improved overall efficiency of equipment and elimination of unintentional downtime are key factors that are expected to drive the overall industry. Additionally, various applications like pump, compressor require various software and hardware this factors anticipated to hamper the market.
The industrial motor management and control device market can be segmented based on Type, product & service, voltage range, control, application, industry, and region. Based on type, the industrial motor management and control device market can be classified into synchronous motor and asynchronous motor. Most applications witness a higher usage of asynchronous motors than synchronous motors. Stator and rotor are two basic and main components of an asynchronous motor. Motor works on electromagnetic induction principle. The advantages of asynchronous motor include they are robust and steady in terms of construction, easy to manufacture, low maintenance and low cost. Asynchronous motors are utilized in centrifugal fans, pumps, blowers, conveyors, lifts heavy-duty cranes, and lathe machines. The asynchronous motor segment is anticipated to dominate the Industrial motor management and control device market during the forecast Period. Based on voltage range, the industrial motor management and control device market is segmented into low voltage, medium voltage, and high voltage. In the industrial sector, applications such as pumps, compressors, conveyor systems and material handling systems require three-phase induction motors. Three-phase induction motors operate on high voltage. The high voltage segment accounted for a prominent share of the market and this trend is expected to continue during the forecast period.
Based on application, the industrial motor management and control device market is segregated into pump, compressor, material handling system, conveyor system, centrifugal fan, blower, lift, crane, hoists, lathe machine, oil extracting machine, textile, crusher, and large capacity exhaust fan.
In terms of product & services, the industrial motor management and control device market is segmented into hardware and software & solution. The software & solution segment is anticipated to expand at a rapid pace. Software segment contains, start, stop, control of electric motors, voltage and current regulator, overload protection, and fault detection. However, the driving factors of software & solution include the increase in automation in various industries, rising demand for electric motors, and trouble-free installation.
In terms of industry, Industrial motor management and control unit market is segmented into oil & gas, metals & mining, power generation, chemicals, food & beverages, agriculture, and water supply.
Based on region, the industrial motor management and control device market is segregated into North America, Asia Pacific, Middle East & Africa, and Europe. North America is expected to lead the global market during the forecast period due to the increasing presence of various manufacturing facilities in the region.
Key players operating in the global industrial motor management and control device market are General Electric, Texas instrument, Siemens AG, Schneider Electric SE, ABB Ltd, Analog Device Inc., Eaton Corporation Plc., Mitsubishi Electric Corporation, Rockwell automation, and Hitachi Ltd.
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