Motor Management Market to Reach $4 Billion by 2023: Rising Demand for Smart, Multifunctional & Integrated Motor Control

DUBLIN, July 31, 2017 /PRNewswire/ --

The "Motor Management Market - Global Forecast to 2023" report has been added to Research and Markets' offering.

The motor management market is expected to be worth USD 4.03 Billion by 2023, growing at a CAGR of 5.35% between 2017 and 2023. The growth of this market is mainly driven by the rising demand for smart, multifunctional, integrated motor control, and protection devices, as well as the need for reducing unplanned industrial downtime.

The motor management market has been segmented on the basis of type, product & service, voltage range, control, application, industry, and geography. The motor management market for synchronous motor is expected to grow at a higher CAGR between 2017 and 2023. The rotation period of a synchronous motor is exactly equal to an integral number of the frequency of the supply current. Synchronous motors are mainly operated at a wide range of power factors in both lagging and leading voltage conditions. Synchronous motors are not self-starting but require an external force. Motor managements provide the necessary conditions to start, control, and monitor the failsafe condition of a synchronous motor.

The motor management market for low-voltage motors held the largest market size in 2016 owing to the growing focus on energy efficiency and the adoption of intelligent devices for precise control in major industries such as oil & gas, water supply and wastewater treatment, and metals & mining. These industries are among the largest employers of low-voltage motors and drive the growth of the market for low-voltage motor managements during the forecast period.

The motor management market for the pumps application held the largest market size in 2016. Pumps are critical for several industrial processes. Motor controllers play a vital role in keeping motors functioning and protecting them from wear and tear, overcurrent, and overloads. Most of the pumping applications require no speed control and offer a long duration, making motor controllers an ideal technology for pumps. Motor managements are capable of remote operations and offer greater precision for highly efficient motor control. With the rising focus on employing intelligent devices in industrial automation, the pump application is expected to hold the largest market size.

The motor management market for the oil & gas industry held the largest market size in 2016. Motor managements are used for upstream, midstream, and downstream applications in the oil & gas industry. In the upstream sector, they are used for pumping wells and for progressive cavity pump systems, surface pumping systems (SPS), electrical submersible pumping systems (ESP), rod pump control systems, and horizontal pumping systems (HPS). They are used for transportation and storage purposes in midstream applications and for refining crude oil in the downstream application. Motor managements help in analyzing well condition, remote pump controlling, improving production efficiency, and ensuring reliable operation. It is one of the leading industries for upgrading and automating processes since process failure can be costly, especially in offshore environments.

Companies Mentioned

• Abb Ltd
• Ametek Inc.
• Anaheim Automation Inc. (Us)
• Analog Device Inc.
• Arm Holdings Plc (Uk)
• Bartec Gmbh (Germany)
• Bosch Rexroth Ag (Germany)
• Boston Engineering (Us)
• C3Controls (Us)
• Eaton Corporation
• Fanox Electronic S.L (Spain)
• Fuji Electric Co.Ltd.
• General Electric (Ge)
• Hitachi Ltd.
• Iar System (Sweden)
• Larsen & Toubro
• Mitsubishi Electric Corporation
• Nanotec Electronic Gmbh & Co. Kg
• Renesas Electronics (Japan)
• Rockwell Automation
• Schneider Electric Se
• Siemens Ag
• Texas Instruments Inc. 
• Velmex Inc. (Us)
• Weg Sa
  

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Market, By Product & Service

8 Market, By Type

9 Market, By Control

10 Market, By Voltage Range

11 Market, By Application

12 Market, By Industry

13 Geographic Analysis

14 Competitive Landscape

15 Company Profiles

16 Appendix

For more information about this report visit https://www.researchandmarkets.com/research/tdgw9r/motor_management

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