New Market Report: Intelligent Motor Controller Market - Global Trends & Forecasts to 2021
Fast Market Research recommends "Intelligent Motor Controller Market - Global Trends & Forecasts to 2021" from Markets and Markets, now available
[ClickPress, Thu Jun 09 2016] Intelligent Motor Controller Market by Voltage (Low & Medium), by Motor Type, by End User (Oil & Gas, Power & Water, Food, Mining, Chemicals, & Pharmaceutical), by Application (Pump, Fan & Compressor), & by Region - Global Trends & Forecasts to 2021
The intelligent motor controller market is projected to reach USD 857.6 million by 2021, at a CAGR of 5.48% from 2016 to 2021.Rising demand for smart, multifunctional, and integrated devices and growth of automation in major end-use industries such as oil & gas, water & wastewater, power generation, and food & beverage in regions such as Europe and North America are driving market growth. Intelligent motor controllers are employed for motor control & protection in almost all major industries, including oil & gas, water & wastewater, power generation, food & beverage, and metals & mining. Given the growing demand for motor-driven equipment in these industries, the demand for smart motor control systems is set to increase in coming years.
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"Oil & gas industry to dominate the global intelligent motor controller market"
With regard to industrial end-users, the oil & gas industry is the largest segment, while water & wastewater is the fastest growing. This growth can be attributed to technological advancements that have made communication enabled smart motor controller more efficient and cost-effective.
"Europe: The fastest growing regional market for intelligent motor controller"
The European region has highest adoption of smart devices, especially the intelligent motor controller; the region is the largest market for intelligent motor controller. Germany and the U.K. are the key contributors to the growth of the intelligent motor controller market in Europe. The region has witnessed rising demand for smart devices; this trend is expected to continue in the future since industries are upgrading outdated infrastructure. The increasing demand for motor-driven applications, coupled with growing concerns regarding motor efficiency and cost-effectiveness, would likely boost the demand for intelligent motor controller in the region.
Breakdown of Primaries:
By Company Type: Tier 1-30%, Tier 2-35%, Tier 3-35%
By Designation: C-Level-20%, D-Level-25%, Others-55%
By Region: North America-13%, Europe-12%, Asia-Pacific-50%, the Middle East & Africa-25%
Note: *Others include business development managers, marketing managers, product managers, design engineers, and sales engineers.
The tier of the companies has been defined on the basis of their total revenue as of 2014: Tier 1 =>USD 10 billion, Tier 2 = USD 10 billion to USD 1 billion, and Tier 3 =
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