The global DC motor control devices market size is expected to reach USD 1.18 billion by 2025, exhibiting a CAGR of 6.2% from 2018 to 2025, according to a study conducted by Grand View Research, Inc. DC electric motors are being widely used in modern systems, whether in consumer electronics, or industrial, automotive, and transportation industries. Improved performance of these motors in such applications is a result of the underlying electronic controls that are able to rapidly execute sophisticated control algorithms. Thus, increasing demand for motors in such applications, coupled with improved motor performance, is anticipated to drive the market over the forecast period.
Sensorless
motor control devices are generally used to reduce overall cost of actuating
devices. However, with advancements in sensor control techniques, the market
for DC motor control devices is anticipated to gain traction over the forecast
period. Furthermore, recent market requirements, such as compatibility with IE3
motors, and changes in motor control systems in several application areas such
as industrial, consumer electronics, and medical devices are expected to favor
market growth over the coming years.
The
market is expected to witness significant demand from the automotive industry
owing to introduction of vehicle safety standards to control fuel emissions and
increasing adoption of engine control units (ECUs) in modern automobiles.
Additionally, growing R&D activities to improve energy efficiency of
electric motors are anticipated to boost market growth. For instance, the U.S.
Department of Energy invested a substantial amount in 13 R&D projects
pertaining to technological advancements in electric motors. These advancements
are expected to positively impact the efficiency and performance of motor
devices when used in various end-use industries.
However,
factors such as uncertainties in raw material prices, limited availability of
components, and reduction in overall production of raw materials are
contributing to increased product costs, thereby negatively impacting market
growth. In order to overcome these challenges, major companies are undertaking
several measures to maintain consistency in prices and availability of raw
materials. These companies have been entering into long-term supplier contracts
to mitigate risks associated with quality and quantity of materials.
Full Research Report On DC Motor Control Devices Market Visit Here:
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DC Motor Control
Devices Market Report Highlights
- North America
accounted for more than 25.0% of the overall market in 2018 and is
expected to witness steady growth over the forecast period owing to
presence of key market incumbents such as Eaton Corporation Plc and ABB
offering cost-effective solutions and quality products
- The consumer
electronics segment accounted for a significant in 2018 and is anticipated
to grow at a substantial CAGR over the forecast period owing to increasing
demand for handled devices and home appliances in developing countries
such as India and China
- Prominent
players in the DC motor control devices market include ABB, Eaton
Corporation Plc, General Electric, and OMRON Corporation. These companies
are extensively investing in research and development activities in order
to introduce compact products.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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