Global Motor Controllers Market: Introduction
Nearly 44% of the global energy is consumed by motors. Motor controllers plays an important role in the functioning of the motor. Motor controllers are simply components which regulate and control the operating of the motor. Motor controller may act as a starter, contactor, relay or a switch. Motor controller is the made of various components including resisters, transistors, diodes, and others, mounted on a printed circuit boards.
The motor controllers have various functions in different types of motors. It protects motor from high voltages, it controls the speed of the motor, it saves energy, and it monitors the motor performance. The principle working of the controllers is to transform, regulate and control the flow of current. Therefore motor controllers is a crucial accessory of the motor. Increasing motor demand from various industries and household appliances, is driving the global motor controllers market, during the forecast.
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Global Motor Controllers Market: Dynamics
The motor controllers market is projected to grow in coming years, due to advanced technologies and their applications in the global electronic and electrical market. The demand of motor controllers is growing in various applications including process automation, elevator control, assembly/packaging, robotics, flight control systems, and others. Increasing purchasing power of the population in the emerging countries is pushing the demand for electronic and electrical appliances, which is expected to push the demand for the motor controller during the forecast period. Growing industrial infrastructure and automotive industry is also pushing the motor controller demand.
The global motor controller market is also driven by the growth in the global electric vehicles market. Rise in number of passengers has been observed in the past few years, in commercial and heavy vehicles. Therefore the demand for electric vehicle is expected to increase the opportunities for the motor controller market. Advanced technologies comes with higher manufacturing costs. Higher price of the motor controllers is restraining its demand in the market. Additionally, the increasing competition from Chinese and other Asian players is hindering the growth of the market.
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Global Motor Controllers Market: Segmentation
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Global Motor Controllers Market: Regional Outlook
The growth in demand of electric motor globally is largely driven by the increasing industrial infrastructure and income levels in emerging countries. The adoption of advanced cooing systems in developed countries of North America and Europe along with technological developments is expected to fuel the growth of motor controllers market during the forecast period.
In the emerging countries, the rise in investment in the sectors such as infrastructure, industry, and aviation sectors will directly creating demand gap of motor controllers. The demand of motor controllers is expected to remain high during the forecast period due to the growing electronic and electrical industry. The motor controller market is expected to be driven by Asia Pacific. China, Korea and Japan collectively contributed the large part of the global demand for the motor controllers. India is projected to grow fast during the forecast due to economy growth, developments in the industrial infrastructure and automotive industry.
Global Motor Controllers Market: Key Players
Some of the market participants identified across the value chain of global Motor controllers market are:
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