According to the new research report titled “Motor Controller Market Forecast to 2028 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 4,674.1 million by 2028, registering a CAGR of 6.9% from 2021 to 2028.
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Rising investments in electric motor vehicles are fostering the demand for motor controllers. Many automotive companies are on the verge of beginning the large-scale manufacturing of electric motor vehicles. In 2019, Ford Motor Co. announced its pace of producing electric motors at its Van Dyke Transmission plant in suburban Detroit. The company is planning to spend ~US$ 11.5 billion on electric and hybrid vehicles through 2022; as part of this, the company is expected to deliver 40 electrified vehicles, including 16 completely electric ones. Such ongoing investments in electric vehicle development and production are bolstering the demand for advanced motor controller devices.
The motor controller market is segmented on the basis of motor type, DC motor, output power range, voltage type, end-user, and geography. Based on motor type, the market is bifurcated into AC motor and DC motor. In 2020, The AC motor segment represented a larger share of the overall market. Based on DC motor, the motor controller market is bifurcated into brushed DC motor market and brushless DC motor market. The brushless DC motor market segment represented a larger market share in 2020. By end-user, the industrial segment is expected to dominate the market during 2021-2028.
A few key companies operating in the motor controller market and profiled in the report are Mitsubishi Electric Corporation.; Schneider Electric; Fanuc Corporation; Yaskawa Electric Corporation.; Nidec Industrial Solution; Rockwell Automation, Inc.; Panasonic Corporation.; and ABB.
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The report segments global Motor Controller Market as follows:
Motor Controller Market– by Motor Type
- AC Motor
- DC Motor
Motor Controller Market– by DC Motor
- Brushed DC Motor Market
- Brushless DC Motor Market
Motor Controller Market – by Output Power Range
- Below 0.5 HP
- 6–1.0 HP
- 0–3.0 HP
- Above 3.0 HP
Motor Controller Market – by Voltage Type
- Below 1 kV Motors
- 1 kV–6.6 kV Motors
- More than 6.6 kV
Motor Controller Market– by End-User
- Industrial
- Commercial
- Residential
- Transportation
- Agriculture
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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