Transparency Market Research
A motor management system can be simply defined as a communication network established amongst motors and related components for preventive maintenance. Data is collected from electric motors with the help of various sensors. Although this data is primarily utilized for preventive maintenance, it is also used for obtaining other useful such as operational efficiency, electricity consumption, temperature variations, vibration levels, etc., which in turn helps in energy conservation and adds up to the overall lifespan of the electrical motors. As almost every major industry incorporates motors for various purposes, a major portion of total energy consumption within these industries is accounted for by motors. Due to heavy reliability of manufacturing industries on motors, any motor failure could hamper the processes resulting in huge losses in terms of time and money. This is one of the major reasons for implementation of motor management systems that are considered to be very crucial and strongly advised by experts.
One of the major factors influencing the growth of the global motor management market is the increasing use of automation in industries. Motor management systems are increasingly being adopted globally as more number of industries look to increase their operational efficiency by reducing the downtime caused due to motor failures. However, the overall growth of the motor management market is adversely affected by high initial and maintenance costs of this system. Also the lack of awareness about the benefits of this system in the long run is considered as one of the restraints for market growth.
The global motor management market can be segmented on the basis of motor type, operating voltage range, application, automation level, industry, and region. The market by motor type has further been bifurcated into synchronous motor and asynchronous motor. In terms of operating voltage range, the market has been divided into low voltage, medium voltage, and high voltage. While considering the application of motor management systems the global market has been sub-divided into pumps, compressors, and others. On the basis of industry, the global motor management market has been classified into agriculture, chemicals, food & beverages, manufacturing, metals & mining, power generation, water & wastewater treatment, and others.
The global motor management market is segmented on the basis of regions into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America has the largest number of motor management solution vendors. This dominance is primarily due to the presence of many multinational industries which are opting for this system, especially in the U.S. and Canada. North America is closely followed by Europe in terms of adoption as well as prominent motor management vendors. This trend can be attributed to the increasing focus on innovations obtained from research and development and security technologies in the developed countries. The Asia Pacific region is expected to emerge as the fastest growing market in the years from 2017-2025. Growing economies in the Asia Pacific region such as India and China are inviting global players into their local markets. This is in turn supporting the growth of the motor management market in the region while further increasing the degree of competition among motor management system vendors.
Companies are strengthening their position through merger & acquisition, and continuously investing in research and development (R&D) activities to come up with solutions to cater to the industry’s changing requirements. Furthermore, motor management solution providers are planning to invest in advanced technologies such as artificial intelligence with a target to provide cost competitive products in the market in the years to come.
The major vendors that offer motor management solutions and services across the globe include General Electric, Texas Instruments, Siemens AG, Schneider Electric SE, ABB Ltd., Analog Devices, Inc., Eaton Corporation Plc, Mitsubishi Electric Corporation, Rockwell Automation, and Hitachi, Ltd.
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