The North America motor controller market is expected to grow from US$ 666. 68 million in 2020 to US$ 1,032. 52 million by 2028; it is estimated to grow at a CAGR of 5. 9 % from 2021 to 2028. Increasing investments in the FMCG sector are expected to accelerate the market growth during the forecast period.
New York, May 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America 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/p06075750/?utm_source=GNW
A rising number of manufacturing plants owing to favorable government policies and skilled workers availability is bolstering the demand for motor controllers in North America. The availability of many unskilled workers and a rich talent pool of skilled workers, including researchers and engineers, at low costs is attracting manufacturing players to set up their plants in Mexico, which helps them lower their operational costs significantly. Further, the rising consumption of FMCG owing to the increased per capita income and growing populations is attracting goods manufacturers to set up factories in North American countries to address the local market demand. The growing number of manufacturing plants in North American countries is resulting in the elevated demand for motor controllers to ensure energy conservation throughout the operations, which will drive the North America motor controller market during forecast period.
Furthermore, amid COVID-19 outbreak, countries in North America, especially the US, witnessed an unprecedented rise in the number of confirmed cases, which led to the discontinuation of automation manufacturing activities.Also, other household appliances manufacturing sector has subsequently impacted the demand for motor controller during the early months of 2020.
Moreover, decline in the overall manufacturing activities has led to the discontinuation of automotive equipment manufacturing projects, which reduced the demand for motor controllers in the US. Similar trend was witnessed in other North American countries, i.e., Canada and Mexico. However, the countries are likely to overcome; thus, drop in demand and economic activities are regaining their pace, especially in the beginning of the 2021.
Based on motor type, the AC motor segment led the North America motor controller market in 2020.This motor is driven by an alternating current.
The stator and the rotor are the two most important parts of the AC motors.The stator is the stationary part of the motor, and the rotor is the rotating part of the motor.
The AC motor may be single phase or three phases. The motor drives are used to increase efficiency by setting pump and fan, etc. speed to exactly match the requirements. The advantages of AC motor such as low cost, speed variation, and high power factor are expected to drive the North America motor controller market in coming years.
The overall North America 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 North America 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 North America motor controller market. ABB Ltd.; AMETEK Inc.; Anaheim Automation, Inc; ARC Systems Inc; Eaton Corporation plc; ErieTec Inc; General Electric Company; Microchip Technology Inc.; Nidec Corporation; and Parker-Hannifin Corporation are among the players operating in the North America motor controller market.
Read the full report: https://www.reportlinker.com/p06075750/?utm_source=GNW
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