Intelligent Motor Controller Market Size, Share, and COVID-19 Impact Analysis, By Motor Type (AC, DC, and Others), By Voltage (Low and Medium), By Application (Pumps, Fans, Compressors, and Others), By End-user (Oil & Gas, Power Generation, Water & Wastewater, and Others), and Regional Forecast, 2021-2028

The intelligent motor controller market size was USD 569.3 million in 2020. The market is expected to grow from USD 597.5 million in 2021 to USD 866.0 million in 2028 at a CAGR of 5.5% in the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with the power industry witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global market will exhibit a decline of -6.8% in 2020. The sudden rise in CAGR for this market is attributable to this market’s demand and growth returning to pre-pandemic levels once the pandemic is over.

An intelligent motor controller can be defined as the programmable single-IC controller that provides high-level functions such as field-oriented control, hall sensor input, sinusoidal communication, digital torque control, and others. This controller can directly input torque and velocity commands. It involves the usage of a motor control center that provides monitoring for the operation of motor controllers.

COVID-19 Impacts Power Projects Disrupts Market Growth

The COVID-19 pandemic has been spread across nearly every country around the world. The government in many countries had to impose nationwide lockdowns & restrictions in the wake of the pandemic, which has severely affected the economies of such nations across the globe.

The outbreak of pandemic has disrupted supply chains as travel restrictions were imposed across the countries, and the international borders were also closed. The manufacturing industries of such devices were closed, and the industries also lacked the availability of a workforce. The demand for such devices was very low from end-user industries during the pandemic.

LATEST TRENDS

High Demand and Adoption of Industrial Automation is a Latest Trend

The trend for industrial automation is widely increasing as this increases the overall efficiency and helps in reducing costs. The adoption of artificial intelligence and Internet of Things (IoT) is also widely increasing across several sectors. Industrial automation also helps in increasing productivity in the manufacturing industry. The rising implementation of automation increases the adoption of the intelligent motor controller in the market and creates lucrative opportunities for intelligent motor controller market growth.

DRIVING FACTORS

Rising Demand for Improved Motor Efficiency to Augment Growth in the Market

The adoption of motors is very high across the world. Several industries like manufacturing, process, food and beverage, pharmaceuticals, power generation, and others have the high-rate installation of motors. These industries are also rapidly focusing to improve the overall efficiency that involves improving motor efficiency. It can help the industries in cost reduction and energy saving. This increases the adoption of intelligent motor controllers in the end-user industries.

Rising Demand for Smart and Multifunctional Devices to Propel Growth

The world is transitioning from installing conventional products to smart devices across several industries. The adoption of smart and multifunctional devices is widely increasing as the advancement of end-user is increasing. The adoption of smart devices is convenient and flexible and provides higher energy efficiency. The rising demand for smart multifunctional and integrated devices increases the adoption of intelligent motor controllers (IMC) in the industries.

RESTRAINING FACTORS

High Cost of Components of Intelligent Motor Controller May Hinder the Market Growth

The cost of various components used in the manufacturing of intelligent motor controllers is very high. The high cost of components increases the cost of the overall product. The high cost of intelligent motor controllers increases the demand for higher investment. Some small-scale industries cannot afford the cost of the installation of such equipment. This may restrain the growth of the industry during the forecast period.

SEGMENTATION

By Motor Type Analysis

AC Motor Segment Dominated the Market in 2020

On the basis of motor type, the market is segmented into AC, DC, and others. The AC segment is likely to dominate the market during the forecast period. The demand and installation of such motors are high in the market as AC motors can generate higher torque than DC motors and the torque-speed characteristics of AC motors are also better than others. This drives growth in the AC motor segment during the forecast period. 

The DC motor segment is estimated to witness significant growth during the forecast period. The DC motors are said to have higher efficiency and higher starting torque. The demand and adoption of such motors increases as the demand from the end-user segment is increasing widely. This will drive the growth of the DC motor segment during the forecast period.

By Voltage Analysis

Low Voltage Segment to Dominate Market Share over 2021-2028

On the basis of voltage, the market is segmented into low and medium. The low voltage segment is estimated to dominate the market. The low voltage segment is highly preferred in the end-user industries. The installation and construction of power generation plants are widely increasing across the world, and low IMCs are majorly installed in these power plants. The low voltage IMC has higher benefits than others. This drives growth in the market during the forecast period.

The gas segment is estimated to foresee growth

The medium voltage segment is estimated to register significant growth during the forecast period. The installation of such IMCs is increasing in various end-user industries, which is likely to drive growth in the market during the forecast period.

By Application Analysis

Pumps Segment is Likely to Dominate the Market

By application, the market share is split into pumps, fans, compressors, and others. The pumps segment is estimated to hold the dominant market share through 2028. The demand and installation of pumps are higher as it has application in various industries like water & wastewater, and oil & gas. The pumps are largely used motors for the transferring of liquid or semi-solids. The installation of IMC is widely increasing in the pumps industry as it increases the motor efficiency and working of the pump. This drives growth in the pump sector over 2021-2028.

 The fans segment is likely to witness growth during the forecast period. The demand for the installation of the motor is higher in the fans and blowers. The installation of IMC in the fan’s motors is widely increasing as it improves the operational efficiency of the fans. This drives growth in the fans segment over the projected period. 

By End-user Analysis

Oil & Gas Segment to Lead the Market Share during 2021-2028

In terms of end-user, the market share is broken down into oil & gas, power generation, water & wastewater, and others. The oil & gas segment will hold the dominant market share over 2021-2028. The oil & gas segment is widely installing smart equipment like smart motors and other smart devices. This increases the demand and adoption of IMCs.

The water and wastewater segment is likely to foresee growth during 2021-2028. The demand for wastewater management is widely increasing in the market. The water and wastewater segment widely uses pumps and motors. To enhance operational efficiency, the use of smart motors and IMCs are widely increasing in the water and wastewater segment.

REGIONAL INSIGHTS

Geographically, the global intelligent motor controller market share is divided into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. North America dominates the global market share in the year 2020. The demand and installation of smart devices are increasing widely in this region as the advancement in end-user is increasing. North America widely adopts the latest technologies, and this increases the adoption of IMCs in the end-user industries in this region. Thus, it drives growth in North America during the forecast period.

The Asia Pacific region is likely to grow at a significant CAGR between 2021 and 2028. The region has a blooming power generation and wastewater management sector along with rapidly increasing penetration of automation in the industrial segment. The deployment of smart devices is high in demand as such devices reduce cost and improve operational efficiency. The installation of smart motors is also increasing that further increasing the use of IMCs. Thus, drives growth in the Asia Pacific region in the market for intelligent motor controllers during the forecast period.

Europe is expected to expand substantially in the forthcoming years in the IMC market. The adoption of last technologies is increasing at a higher pace within the region. The installation of smart devices like IMCs is increasing significantly across water, wastewater, pharmaceuticals, food & beverage, and other industries in this region as the investment in automation is increasing. 

Latin America is estimated to foresee notable growth during 2021-2028. The demand for power supply is widely increasing within the region, which increases the need to expand the power generation sector, which increases the adoption of highly efficient devices such as IMCs and others.

The Middle East and Africa are expected to witness significant growth in the global IMC market during the forecast period. Industrial automation is increasing, and this increases the adoption of smart devices. The oil & gas sector is widely deploying equipment that can help increase operational efficiency. This increases market growth in the Middle East & Africa region during the forecast period.

KEY INDUSTRY PLAYERS

Established Players are Emphasizing New Contracts and Product Portfolio to Bolster Market Position

This market is highly fragmented with the presence of major key players and new entrants across developed as well as developing countries. Currently, ABB, General Electric, Schneider Electric, Siemens AG, Mitsubishi Electric Corporation, Larsen & Toubro, Rockwell Automation are leading the market. These companies are expanding their reach and focusing on securing new contracts.

In May 2020, ABB announced an agreement with Metsa Fibre to supply electrification and drive end-user solutions to the company’s new bioproduct mill in Finland. The electric motors provided by the ABB will be controlled by the intelligent Motor Control System of ABB, and this contract is worth around USD 43.2 million.

LIST OF KEY COMPANIES PROFILED:

• General Electric (U.S.)


• Mitsubishi Electric (Japan)


• Siemens AG (Germany)


• ABB (Switzerland)


• Larsen & Toubro (India)


• Schneider Electric (France)


• Lsis Co. Ltd. (South Korea)


• Rockwell Automation (India)


• NXP Semiconductors (Netherlands)


• Fairford Electronics (U.S.)


• Roboteq Inc. (U.S.)


• Nanotec Electronic GmbH & Co. (Germany)

KEY INDUSTRY DEVELOPMENTS:

• In May 2021, Schneider Electric and Allied Electronics & Automation announced that they are now offering a new limited-feature set of high-quality motor control and protection products that are priced right for smaller panel builders, system integrators, OEMs, and others. 


• In December 2020, ABB signed a service agreement with Denka. Under the service agreement, ABB manages equipment failure risk and conducts preventive maintenance and repairs using a reliability index and urgency level. The company will provide maintenance on motors based on smart sensors installed for Denka. 

REPORT COVERAGE

The intelligent motor controller market research report includes a detailed industry analysis and focuses on key aspects such as leading companies, components, and leading technologies of the product. Besides this, the report offers insights into the key market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several drivers that have contributed to the growth of the advanced market over recent years.

REPORT SCOPE & SEGMENTATION