PUNE, India -- The report "Intelligent Motor Controller Market by Voltage (Low & Medium), by Motor Type, by End User (Oil & Gas, Power & Water, Food, Mining, Chemicals, & Pharmaceutical), by Application (Pump, Fan & Compressor), & by Region - Global Trends & Forecasts to 2021", published by MarketsandMarkets, The Intelligent Motor Controller Market is projected to grow from an estimated USD 656.9 Million in 2016 to USD 857.6 Million by 2021, at a CAGR of 5.48% from 2016 to 2021.
Increasing demand for smart, multifunctional, and integrated devices in industries; growing concerns regarding motor efficiency; and rising adoption of industrial automation in developing regions are driving the global market for intelligent motor controller.
The oil & gas industry is expected to occupy the largest share of the Intelligent Motor Controller Market, by end-user
The oil & gas industry is the largest end-user industry for intelligent motor controller, due to the large-scale application of motor driven equipment in the industry. Water & wastewater, power generation, and food & beverage industries are the other major end-users that employ smart motor control systems. The market for intelligent motor controller in the water & wastewater industry is expected to grow at the highest CAGR during the forecast period. This growth is attributed to rising urbanization and pressure on efficient use of existing water resources.
AC motors segment is expected to account for the largest share of the Intelligent Motor Controller Market, by motor type
AC motors are estimated to constitute the largest segment of the Intelligent Motor Controller Market. AC motors are widely employed within the industry, owing to low-cost, robust construction, and compatibility with almost all industrial applications. Major end-user industries such as oil & gas, water & wastewater, power generation, and food & beverage employ AC motors for diverse applications. Intelligent motor controller for other motor types such as DC, stepper, and servo constitute a very small share, and is projected to grow at a slower rate as compared to AC motors segment.
Europe is currently the largest market; however, North America is poised to dominate the global Intelligent Motor Controller Market during the forecast period
Europe is estimated to be the largest market for intelligent motor controller in 2016, with Germany expected to lead the market in terms of growth rate from 2016 to 2021. North America is expected to surpass the European market by 2021, owing to higher projected growth rate. Meanwhile, in this report, the Intelligent Motor Controller Market has been analyzed with respect to five regions, namely, Asia-Pacific, Europe, North America, South America, and the Middle East & Africa. The intelligent motor controller industry is expanding in developed countries, owing to rising preference for smart devices.
To enable an in-depth understanding of the competitive landscape, the report profiles some of the leading players in the Intelligent Motor Controller Market, including ABB Ltd. (Switzerland), General Electric Company (U.S.), Rockwell Automation (U.S.), and Siemens AG (Germany). Other players operating in the market include Mitsubishi Electric Corporation (Japan), Roboteq Inc. (U.S.), Nanotec Electronic GmbH & Co. KG (Germany), Schneider Electric SE (France), NXP Semiconductors (The Netherlands), Fairford Electronics (U.K.), LSIS Co. Ltd. (South Korea), and Larsen & Toubro (India).
Browse 73 market data tables with 51 figures spread through 161 pages and in-depth TOC on "Intelligent Motor Controller Market - Global Trends & Forecasts to 2021" at http://www.marketsandmarkets.com/Market-Reports/intelligent-motor-controller-market-130751591.html
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