Global Intelligent Motor Controller Market Size to Reach USD 1,070.4 Million in 2032 | Emergen Research

Vancouver, Sept. 28, 2023 (GLOBE NEWSWIRE) -- The global Intelligent Motor Controller Market size was USD 628.9 Million in 2022 and is expected to register a steady revenue CAGR of 5.5% during the forecast period, according to latest analysis by Emergen Research. Increasing adoption of Artificial Intelligence (AI) and Machine Learning (ML) is a major factor driving market revenue growth. Intelligent motor control is a critical component in production processes in various industries, which saves energy by enhancing machine efficiency with the aid of Alternate Current (AC) and Direct Current (DC) power. AI algorithms analyze data from sensors and motor operations in real-time, allowing controllers to adapt and fine-tune motor performance for maximum efficiency and reliability. While, ML enables predictive maintenance, identifying potential issues before these cause downtimes and optimizing energy consumption. These technologies not only enhance motor control precision but also contribute to significant cost savings and reduced environmental impact, making vital for energy-efficient and sustainable industrial operations.

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In addition, rising demand for predictive maintenance is another key factor driving revenue growth of the market. Predictive maintenance leverages data analytics, sensor technology, and ML to predict equipment failures before occurring, reducing unplanned downtime, maintenance costs, and operational disruptions. This proactive approach to maintenance optimizes asset reliability and performance, ensuring seamless operations and improving overall efficiency. As businesses increasingly recognize the economic and operational benefits of predictive maintenance, the market for related solutions, including intelligent motor controllers, is witnessing substantial growth, shaping a more efficient and cost-effective industrial landscape.

However, high initial costs resulting from the complex nature of integration is a key factor, which could restrain market revenue growth. Implementing intelligent motor controllers often involves a complex process that encompasses system redesign, engineering, and the integration of new technology with existing infrastructure. This complexity requires specialized technical expertise and can result in substantial upfront expenses.

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Scope of Research

Major Companies and Competitive Landscape

The global intelligent motor controller market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products. Some of the major companies included in the global intelligent motor controller market report are:

• ABB
• General Electric
• Mitsubishi Electric Corporation
• Schneider Electric
• Siemens
• Larsen & Toubro Limited
• LSIS Co., Ltd.
• NXP Semiconductors
• Rockwell Automation
• Motortronics
• Nanotec Electronic GmbH & Co KG
• Nidec Motor Corporation
• Eaton Corporation

Strategic Development

• In May 30, 2023, Schneider Electric announced its plans to invest USD 51 million to develop a smart manufacturing plant in Bengaluru, India. The new factory will manufacture a large scope of products from single-phase Uninterruptible Power Supply (UPS), three-phase UPS, power distribution units, and others.     
• In May 19, 2023, Toshiba Electronic Devices & Storage Corporation partnered with MikroElektronika to offer an evaluation platform for motor control design. The MIKROE Clicker 4 development board, combined with the Clicker 4 Inverter Shield, provides a cost-effective solution for experimenting with BLDC motor control. It features onboard debugging, mikroBUS sockets for additional functionality, and over-current protection, making it a versatile tool for motor control projects.

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Some Key Highlights from the Report

• The Alternate Current (AC) segment is expected to account for largest revenue share in the global intelligent motor controller market during the forecast period. This is due to rising use of AC motors in various industrial and residential applications. AC motors are prevalent in a wide range of applications, from industrial machinery and Heating, Ventilation, and Air Conditioning (HVAC) systems to household appliances and office equipment. The extensive use of AC motors creates a substantial demand for intelligent motor controllers that can efficiently control and optimize AC motor performance.
• The pump segment is expected to register steadily fast revenue growth rate in the global intelligent motor controller market over the forecast period. This is due to increasing use of pumps across diverse sectors such as Oil & Gas (O&G), water & wastewater, and manufacturing facilities. In the pump industry, there is rising adoption of intelligent motor controllers, elevating motor efficiency and operational capabilities of pumps. Intelligent motor controllers play a pivotal role in optimizing pump performance by delivering precise control and continuous monitoring, aiding utilities and municipalities in adhering to water quality and efficiency regulations.
• The North America market accounted for largest revenue share in the global intelligent motor controllers market in 2022. This is due to increasing adoption of Internet of Things (IoT), integration of renewable energy sources, and electrification of Electric Vehicles (EVs). High demand for energy-efficient and reliable motor controllers has led organizations to develop more enhanced and advanced products in this region.
• On 22 December, 2022, Schneider Electric unveiled the AltivarTM Soft Starter ATS480 in the Indian market, enhancing its comprehensive motor control and protection solutions. ATS480 delivers strong performance, precise torque control, and user-friendly features. It seamlessly integrates into Schneider Electric's EcoStruxure Plant Builder and Control Expert, offering several advantages to users while enhancing motor control and protection capabilities.

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Emergen Research has segmented the global intelligent motor controller market on the basis of motor type, voltage, application, end-use, and region:

• Motor Type Outlook (Revenue, USD Million; 2019-2032)

• • Alternate Current (AC)
  • Direct Current (DC)
  • Stepper
  • Others

• Voltage Outlook (Revenue, USD Million; 2019-2032)

• • Low
  • Medium

• Application Outlook (Revenue, USD Million; 2019-2032)

• • Pumps
  • Fans
  • Compressors
  • Others

• End-use Outlook (Revenue, USD Million; 2019-2032)

• • Oil & Gas (O&G)
  • Automotive
  • Water & Wastewater
  • Power Generation
  • Food & Beverages (F&B)
  • Metal & Mining
  • Chemicals & Petrochemicals
  • Pharmaceuticals
  • Others

• Regional Outlook (Revenue, USD Million; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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