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. The growing adoption of advanced and automated process in the factory and plants is expected to accelerate the market growth during the forecast period.
New York, June 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Motor Controller Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Motor Type, Output Power Range, Voltage Type, and End-User" - https://www.reportlinker.com/p06075677/?utm_source=GNW
Automated processes help manufacturers in boosting productivity of their plants and lowering costs of production throughout their lives. The increased adoption of energy-efficient motor solutions to enhance the safety of machine operators and other factory workers has fueled the demand for high-precision automated processes. The demand for factory automation would continue to rise to expand production capabilities for meeting the increasing requirements of high-quality products; this would propel the use of motor controllers further to minimize energy consumption. The motor controller solutions are being adopted increasingly in many industries, and the electronics & semiconductor, automotive, and chemicals are among the largest adopters of these products. Electronic manufacturing has been growing significantly, and it would continue to grow in the coming years as well. The growth can be attributed to rise in popularity of advance technologies in Europe. Such growing trajectory in the electronics manufacturing industry is propelling the demand for advanced and automated motor controller equipment for Europe region. 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. Several ongoing investments on electric vehicle development and production are bolstering the demand for advanced motor controller devices for Europe.
Furthermore, countries in Europe, especially the UK, is highly affected due to the COVID-19 outbreak.In the region, several countries suffered the decline in business activities, especially in the manufacturing industries, due to the low production of automation equipment in the first two quarters of 2020.
Many of the European Union (EU) member states imposed drastic measures on controlling manufacturing activities and partially closed their borders, which lowered the demand for automation in various industries.This hindered 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.
Based on output power range, the 0.6–1.0 HP segment led the Europe motor controller market in 2020. 0.6 HP–1.0 HP motor controllers protect motors from voltage fluctuations. One horsepower electric motors are usually used to power slow moving vehicles such as tractors and other agricultural equipment, and high-power tools and appliances such as table saws and pool pumps. One HP electric motors have many applications in gas & oil and mining, agriculture and agribusiness, water, and wastewater, aggregate and cement, food & beverage, pharmaceutical and pulp and paper industries. A few factors such ad protection from voltage fluctuation, wide application, and energy saving are expected to increase its demand, thereby driving the growth of the Europe motor controller market.
The overall Europe motor controller market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the Europe motor controller market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe motor controller market. ABB Ltd., AMETEK Inc., Eaton Corporation plc, General Electric Company, Microchip Technology Inc., Nidec Corporation, and Parker-Hannifin Corporation are among the players operating in the Europe motor controller market.
Read the full report: https://www.reportlinker.com/p06075677/?utm_source=GNW
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