Market Introduction
The increasing adoption of digitalization across Europe is not only influencing different industries to maximize their capabilities but also experiencing high adoption of advanced technology across the manufacturing and automotive sectors of the region. This is helping various industries to enhance their productivity with reduced power consumptions, which is turning the industry’s operation into profitability and creating demand for motor controllers. The demand for motor controllers in Europe is currently experiencing steady growth. A motor controller helps motors receive supply voltages and provide signals to motor drives that are interfaced to motors. They are used to start, stop, and run motors in a programmed manner. Furthermore, it can be used to gradually start or increase the speed of a motor, increase torque, or reverse rotational direction of the motor. They can also be used to reduce cost by using smaller wire and reduced-amperage devices to control the motor. One of the main factors driving the market is increasing acceptance for motorized automation across numerous industries including automotive, electronics, and biotechnology owing to benefits such as reduction in idle time, thereby fueling the demand for motor controllers. Further, the increasing demand for motor-driven applications, coupled with growing concerns regarding motor efficiency and cost-effectiveness, would likely boost the demand for motor controllers in the region.
Furthermore, in case of COVID-19, Europe is highly affected specially the UK. In Europe, several countries suffered the decline in business activities, especially in the manufacturing industries, due to low production of automation equipment in the first two quarters of 2020. Many of the European Union (EU) member states have imposed drastic measures on controlling manufacturing activities and partially closed their borders, which lowered the demand for automation in various industries. This is anticipated to hinder the motor controller market growth in Europe. The impact of COVID-19 varies from country to country in Europe; selective countries witnessed a surge in the number of confirmed cases, which subsequently led their governments to impose stringent lockdown for extended period; they also circulated stringent social isolation guidelines, which resulted in the disruption of consumer electronics businesses. The lockdown impositions are limiting the motor controller market in Europe due to disruptions in electric vehicle and other manufacturing industries across selected countries. However, several countries have begun to resume their manufacturing activities, which is supporting the motor controller market growth. Thus, the market is projected to recover steadily during the later forecast period.
Market Overview and Dynamics
The Europe motor controller market is expected to grow from US$ 787.34 million in 2020 to US$ 1,369.05 million by 2028; it is estimated to grow at a CAGR of 7.5 % from 2021 to 2028. Burgeoning intelligent motor controller is expected to accelerate the Europe motor controller market. Motor controller equipment are evolving in terms of features and technologies, and the Europe motor controller market is expected to experience the availability and adoption of a wide range of intelligent motor controller solutions in the coming years. An intelligent motor controller is designed to meet the requirements of low-cost, 3-phase motor systems. It provides an equivalent or greater functionality compared to traditional motor controllers at economical costs, thereby intelligent motor controllers are maximizing the value of components in the plant. Further, the rising demand for smart, multifunctional, and integrated devices as well as the growing traction toward automation in industries such as oil & gas, water and wastewater management, power generation, and food & beverages are driving the Europe motor controller market growth. Intelligent motor controllers are employed in almost all major industries, including oil & gas, water and wastewater management, power generation, food & beverages, and metals & mining. With the advent of AI, manufacturers are likely to introduce motor controllers with improved overall performance as AI enables them to accomplish more complex tasks, which will drive the Europe motor controller market
Key Market Segments
In terms of motor type, the AC motor segment accounted for the largest share of the Europe motor controller market in 2020. In terms of output power range, the 0.6 - 1.0 HP segment held a larger market share of the Europe motor controller market in 2020. In terms of voltage type, the below 1 kV motors segment held a larger market share of the Europe motor controller market in 2020. Further, the industrial segment held a larger share of the Europe motor controller market based on end-user in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Europe motor controller market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ABB Ltd., AMETEK Inc., Eaton Corporation plc, General Electric Company, Microchip Technology Inc., Nidec Corporation, and Parker-Hannifin Corporation.
Reasons to buy report
Europe Motor Controller Market Segmentation
Europe Motor Controller Market - By Motor Type
Europe Motor Controller Market - By Output Power Range
Europe Motor Controller Market - By Voltage Type
Europe Motor Controller Market - By End-User
Europe Motor Controller Market - By Country
Europe Motor Controller Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 787.34 Million |
| Market Size by 2028 | US$ 1,369.05 Million |
| CAGR (2021 - 2028) | 7.5 % |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Motor Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Motor Controller Market is valued at US$ 787.34 Million in 2020, it is projected to reach US$ 1,369.05 Million by 2028.
As per our report Europe Motor Controller Market, the market size is valued at US$ 787.34 Million in 2020, projecting it to reach US$ 1,369.05 Million by 2028. This translates to a CAGR of approximately 7.5 % during the forecast period.
The Europe Motor Controller Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Motor Controller Market report:
The Europe Motor Controller Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Motor Controller Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Motor Controller Market value chain can benefit from the information contained in a comprehensive market report.
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