Motor Management Market Forecasts to 2028 – Global Analysis By Product (Software, Hardware), Voltage Ranges (Low, Medium), Application (Compressors, Pumps), End User (Power Generation, Oil & Gas, Agriculture) and By Geography
According to Stratistics MRC, the Global Motor Management Market is accounted for $3.52 billion in 2020 and is expected to reach $6.16 billion by 2028 growing at a CAGR of 7.3% during the forecast period. Need for reducing unplanned industrial downtime and increasing use of automation in industries are driving the market growth. However, lack of awareness is hampering the growth of the market.
Motor management can be defined as the process of organising the motors and machineries present in a factory. This process of technology integrates the hardware of motors with updated digital software solutions making it feasible through these systems. This process offers significant energy savings and also informs the user regarding the requirement of maintenance of machines. A motor management system helps industries to detect faults by using various sensors and reduced unplanned downtime and increases the lifespan of motors.
Based on the end user, the oil & gas segment is going to have lucrative growth during the forecast period due to most of the oil & gas industries are adopting automation processes to increase productivity with low operation cost, which is expected to rise demand for the motor management system. The Gulf of Mexico is the major source of oil & gas. By geography, North America is going to have high growth during the forecast period due to growing demand for reducing unplanned industrial downtime and increasing focus on advancing the efficiency of motor-driven equipment and preventive maintenance to avoid unplanned downtime in this region.
Some of the key players profiled in the Motor Management Market include General Electric, Texas Instruments, Siemens AG, Schneider Electric SE, ABB Ltd., Eaton Corporation Plc, Mitsubishi Electric Corporation, Rockwell Automation, Hitachi, Ltd., Analog Devices, Ametek, Nidec Motor Corporation, Nanotec Electronic GmbH & Co KG, WEG and Bosch Rexroth AG.
Estimated Market Size in 2020:
USD 3.52 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 6.16 billion
Tables, Graphs& Figures
Type, Product, Voltage Range, Application, Control, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Synchronous Motors
• Asynchronous Motors
• Software & Solution Services
Voltage Ranges Covered:
• Low Voltage (60 to 240 Volt AC)
• Medium Voltage (250 to 395 Volt AC)
• High Voltage (396 to 485 Volt AC)
• Material Handling
• Semi-Automatic Controls
• Automatic Controls
• Manual Controls
End Users Covered:
• Food & Beverages
• Power Generation
• Water Supply and Wastewater Treatment Industry
• Chemicals & Petrochemicals
• Metals & Mining
• Oil & Gas
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Motor Management Market is majorly driven by rising demand for smart, multifunctional, integrated motor control and protection devices, need for reducing unplanned industrial downtime and increasing use of automation in industries.
The automatic control segment is growing at a highest CAGR as they are equipped with software such as SynRM software, InstaSPIN, and EnerVista software along with the entirely automated functionality of motors with microcontrollers.
Asia Pacific dominated with a significant market share due to the factors such as expansion of various industries like oil & gas, power generation, metals & mining, etc. and increasing foreign investment due to low-cost labor and availability of land across the region.
North America market is growing at a highest CAGR due to growing demand for reducing unplanned industrial downtime and increasing focus on advancing the efficiency of motor-driven equipment in the region.
Key players in Motor Management Market include General Electric, Texas Instruments, Siemens AG, Schneider Electric SE, ABB Ltd., Eaton Corporation Plc, Mitsubishi Electric Corporation, Rockwell Automation, Hitachi, Ltd., Analog Devices, Ametek, Nidec Motor Corporation, Nanotec Electronic GmbH & Co KG, WEG and Bosch Rexroth AG.
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