The MEA motor controller market is expected to grow from US$ 271. 18 million in 2020 to US$ 384. 21 million by 2028; it is estimated to grow at a CAGR of 4. 7 % from 2021 to 2028. The burgeoning adoption of Industrial Internet of Things (IIoTs) in plants and factories across MEA would drive the market growth in coming years.
New York, May 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Middle East & Africa 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/p06075713/?utm_source=GNW
The rising adoption of the IIoT in the manufacturing sector is providing noteworthy opportunities to the motor controller market players for MEA. The widespread use of robotics, sensors, centralized tracking, and quality inspection to form a smart manufacturing plant is triggering the adoption of IIoT. Technological advancements in the field of IoT for designing ecosystem plants to reduce the power consumptions and increase factory’s safety are expected to increase the demand for motor controller in the coming years for MEA. Further, the advent of artificial intelligence (AI) usage in IIoTs for advancing the automation of plants and machines would propel the demand for AI enabled motor controller devices in MEA in coming years. The demand for motor controllers is set to increase in residential applications as the IoT facilitates the integration of residential spaces with connected devices. Further, IIoT-powered industrial control systems (ICS) facilitate productivity and safety at work; these systems manage temperature and sensory equipment, manufacturing lines, and security devices. So, the growing adoption of IIoTs would escalate the demand for motor controller, which is anticipated to drive the MEA motor controller market.
In case of COVID-19 outbreak, MEA is highly affected, especially South Africa.The MEA has witnessed a notable reduction in building construction and automation equipment manufacturing work owing to sharp decline in the demand for commercial and residential properties and automation equipment.
This further led to the significant dip in demand for the motor controllers, especially in the first two quarters of 2020.Further, the COVID-19 outbreak has a significant impact on the economies of the MEA, leading to declines in oil production and transport sector.
Hence, the slowdown in the manufacturing and transportation sector has negatively impacted the motor controller market in the region. Thus, owing to the above-mentioned factors the motor controller market in region is expected to be moderately affected over the forecast period.
Based on end-user, the industrial segment led the MEA motor controller market in 2020.Motor controllers in industrial application commonly controls power for constant speed, and variable speed motors.
Major industrial sectors such as oil & gas, chemical, mining, and food industries require constant, variable, or both speed motor control.Further, to achieve higher demands in terms of dynamic behavior and precision, industrial automation heavily relies on industrial AC drives and servo drives.
A few advantages of motor controller in industrial segment such as fast speed, less cost, and high tolerance are expected to increase its demand in coming years, thereby driving the growth of the MEA motor controller market.
The overall MEA 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 MEA 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 MEA 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 MEA motor controller market.
Read the full report: https://www.reportlinker.com/p06075713/?utm_source=GNW
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