Global Motor Controller Market- Market Overview:

The global motor controller market is expected to grow from USD 3.20 billion in 2022 to USD 5.49 billion by 2030, at a CAGR of 7% during the Projection period 2023-2030. The growth of this market is mainly driven owing to rising technological innovations boosting the demand for motor controllers.

The motor controller is a device or set of devices that regulate the way a motor works. They receive supply voltages and send signals to motor drives, which are interfaced with motors. Machine tools, micro-positioning, and robotics can all benefit from these drives. The controller, commonly integrated with the drive circuits, provides control signals to the drive. Artificial lift applications typically operate prime mover motors using motor controllers coupled to switchboards or variable frequency drives. Electric motor manufacturers (OEMs) are more concerned than ever with maximizing the performance of their motors (like torque control) while maintaining high levels of system visibility through diagnostics. For these objectives to be achieved, motor-position control systems that are highly integrated, especially those that address motor efficiency and torque management, are crucial. Micro control modules will be one of the major drivers driving the motor controller industry in order to add dynamic safety features to direct drives. Since advanced technologies and their applications are being incorporated into the global electronics and electrical markets, the motor controllers’ market is expected to grow in the coming years. In addition to process automation, elevator control, packaging/assembly, robotics, flight control systems, and others, motor controllers are in increased demand in various applications. Additionally, manufacturers are improving their production capabilities for brushless DC motor control ICs to develop cost-optimized systems for automotive, consumer, and industrial use. A highly integrated system in package (SIP) designed for driving brushless DC motors in three phases is being developed by them, which contributes significantly to the growth of the market.

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Market Dynamics:

Drivers:                          

• Rising adoption of industrial internet of things

In the manufacturing sector, the growing adoption of the Industrial Internet of Things (IIoT) presents noteworthy opportunities for motor controllers. As a result of the widespread adoption of IIoT, robotics, sensors, centralized tracking, and quality inspection are becoming increasingly common. Motor controllers will be in great demand in the foreseeable future due to technological advancements in the field of IoT, for designing ecosystem plants to reduce power consumption and improve factory safety.

Restraints:         

• High cost

Due to the higher manufacturing cost of advanced technologies, demand for motor controllers is restraining in the market because consumers find it hard to spend huge amounts on new and advanced motor controllers. Moreover, Chinese and other Asian players are increasing competition, limiting the market growth.

Opportunities:

• Rising automation

As a result of technological advancements, manufacturing facilities now feature significant levels of automation. As manufacturers compete to meet efficiency and safety regulations, maximize productivity, and keep their prices competitive, motor control centers are likely to be in high demand on the market.

Challenges:

• Declining crude oil prices

Motor controllers are widely used in the oil & gas industry, and the recent downturn in crude oil prices has resulted in a sharp drop in capital budgets, which has reduced demand for industrial equipment. While crude oil prices have seen a slight increase in 2017-2018, they are still falling. Therefore, oil & gas companies have opted to improve operational efficiency with existing equipment instead of upgrading to more efficient equipment. Increasing oil supplies from the US and OPEC countries, such as Saudi Arabia, are responsible for the decline in crude oil prices, as well as the lifting of sanctions against Iran in 2016. As a result, oil & gas investment has declined, which is expected to constrain the motor control center market.

Segmentation Analysis:

The global motor controller market has been segmented based on motor type, voltage, end-user, and region.

By Motor Type

The motor type segment includes DC, AC and others. The AC segment led the largest share of the motor controller market with a market share of around 48.7% in 2022. There is a high demand for AC motors and the installation of such motors in the market during the Projection period, as AC motors are capable of producing more torque than DC motors and their torque-speed characteristics are also better than others, so the AC motor segment is expected to grow during the Projection period.

By Voltage

The voltage segment includes low-voltage and medium-voltage. The low-voltage segment led the largest share of the motor controller market with a market share of around 59.4% in 2022. In the end-user industries, the low-voltage segment is highly preferred, which is why it is estimated to dominate the market. In power generation plants around the world, low-voltage IMCs are primarily installed. Low voltage IMCs have higher benefits than other IMCs, which will drive market growth throughout the Projection period.

By End-User

The end-user segment includes water & wastewater, oil & gas, power generation, and others. The water & wastewater segment led the largest share of the motor controller market with a market share of around 31.4% in 2022. The water and wastewater segment is expected to grow during the Projection period, as wastewater management is widely in demand in the market. Water and wastewater segments use a large number of pumps and motors to manage wastewater. Smart motors and integrated motors are widely used in the water and wastewater segment to improve operational efficiency.

Global Motor Controller Market - Sales Analysis.

The sale of motor controllers expanded at a CAGR of 6.6% from 2016 to 2022.

During the Projection period, the demand for motor controllers is expected to increase due to the increasing purchasing power of the population in emerging countries, which in turn is driving the demand for electronic and electrical appliances. Motor controller demand is also being pushed by an expanding industrial infrastructure and automotive industry.

As IoT facilitates the integration of residential spaces with connected devices, the demand for motor controllers is expected to increase in residential applications. Furthermore, IIoT-powered industrial control systems (ICS) improve productivity and safety at work; they manage sensors, manufacturing lines, security devices, and temperature control equipment.

Emerging economies are expected to continue to be a major driver of growth for motor control centers, with companies aiming for high reliability and reducing downtime of their plants.

Thus, owing to the aforementioned factors, the global motor controller market is expected to grow at a CAGR of 7% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the motor controller market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific region dominated the motor controller market and held a 38.6% share of the market revenue in 2022.

• The Asia Pacific region witnessed a major share. The rapid increase in disposable incomes of middle-income class groups, government initiatives, and digitalization of economies are driving the region's overall economic growth and catapulting it from a developing to a developed phase. In China and Australia, where mineral resources abound and regulatory support promotes investments within the country, motor controllers are expected to be used more commonly in mining.
• Europe is anticipated to experience significant growth during the predicted period. The motor controller market in Europe is currently experiencing steady growth due to well-developed countries that encourage the use of new technology. The motor controller market is largely driven by the acceptance of motorized automation across multiple industries, including automotive, electronics, and biotechnology, due to benefits such as reduced idle time. Moreover, the increasing demand for motor-driven applications would likely drive the demand for motor controllers in the region.

Global Motor Controller Market - Country Analysis:

• Germany

Germany's motor controller market size was valued at USD 0.27 billion in 2022 and is expected to reach USD 0.46 billion by 2030, at a CAGR of 7.1% from 2023 to 2030.

Increasing acceptance of motorized automation is a major factor driving market growth across numerous industries including automotive, electronics, and biotechnology. Consequently, motor controllers are in high demand, as they reduce idle time. As motor-driven applications increase, and motor efficiency and cost-effectiveness become more important, motor controllers in the country will likely become more popular.

• China

China’s motor controller market size was valued at USD 0.31 billion in 2022 and is expected to reach USD 0.54 billion by 2030, at a CAGR of 7.4% from 2023 to 2030.

A fierce competition exists on the Chinese motor controller market, which is dominated by automaker-backed companies, local manufacturers, and foreign/joint venture manufacturers. Automaker-backed players support their own vehicles; local manufacturers supply independent Chinese auto brands; foreign/joint venture companies establish supply chains with foreign/joint venture auto manufacturers.

• India

India's motor controller market size was valued at USD 0.24 billion in 2022 and is expected to reach USD 0.42 billion by 2030, at a CAGR of 7.3% from 2023 to 2030.

Over the Projection period, the demand for electronics and electrical appliances is expected to grow due to the increasing purchasing power of the country's population. Motor controller demand is also being driven by the growing industrial infrastructure and automotive industry.

Key Industry Players Analysis:  

To increase their market position in the global motor controller market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

• Rockwell
• ABB
• Teco
• Enpower
• Kelly Controls
• Zapi
• Fanuc
• Delta
• Panasonic
• Moog
• Nidec
• V&T
• Inovance
• Yaskawa
• Siemens AG
• Regal Components
• Control Solutions LLC

Latest Development:

• In October 2020, A new motor control product from Microchip Technology Inc. includes digital signal controllers (DSCs) and microcontrollers (MCUs) that are supported by design tools, development hardware, torque-maximizing algorithms, and refrigerator compressor reference designs.
• In March 2021, As part of its acquisitions, AMETEK acquired Magnetrol International, Crank Software, and EGS Automation (EGS), which have a combined annual sales revenue of $120 million. Nearly $270 million was spent on these acquisitions.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	7%
Market Size	3.20 billion in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Motor Type, By Voltage, By End-User, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Rockwell, ABB, Teco, Enpower, Kelly Controls, Zapi, Fanuc, Delta, Panasonic, Moog, Nidec, V&T, Inovance, Yaskawa, Siemens AG, Regal Components, and Control Solutions LLC.
By Motor Type	DC AC Others
By Voltage	Low-Voltage Medium Voltage
By End-User	Water & Wastewater Oil & Gas Power Generation Others
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Motor Controller Market by Motor Type:

• DC
• AC
• Others

Global Motor Controller Market by Voltage:

• Low-Voltage
• Medium Voltage

Global Motor Controller Market by End-User:

• Water & Wastewater
• Oil & Gas
• Power Generation
• Others

Global Motor Controller Market by Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia