DC Motor Control Devices Market Applications & Business Strategy Forecast 2025
The global DC motor control devices market size is estimated to reach USD 1.18 billion, by 2025, and is projected to grow at a CAGR of 6.2% over the forecast period, 2019 to 2025. DC motors are widely used across industries like automotive, transportation, industrial and consumer electronics. These motors can perform sophisticated control algorithm owing to its efficient application in electronic control. These key benefits are projected to bolster the demand for DC motors.
In actuating devices, sensor-less motor control devices help to reduce the overall costs. The market of DC motored is expected to foresee significant growth in the next few years, due to advancements in sensor technologies. In addition, DC motors greater compatibility along with IE3 motors and rising demand from medical devices, consumer electronics, and industrial sector is projected to contribute to market growth.
Get Free PDF Sample Copy of the Report (Including Full TOC, List of Tables & Figures, Chart and Covid-19 Impact Analysis) : https://www.millioninsights.com/industry-reports/global-dc-motor-control-devices-market/request-sample
Safety vehicle standards regarding fuel emissions in the automotive industry and rising adoption of the engine control unit (ECU) is projected to bolster the market growth. In addition, manufacturers increasing focus on R&D activities for enhanced energy efficiency is also supporting DC motor control device market growth. For example, the department of U.S. Energy has invested in around 13 R&D projects for development in electric motors. These technological advancements are anticipated to positively impact on the increased demand for efficient motor devices.
However, continuous fluctuations in raw material prices constitute to rising product costs, which may hamper the market growth. Thus, several companies are taking up measures for raw material management. Furthermore, these companies contract with raw material suppliers for better quality material.
Further key findings from the report suggest:
- In 2018, North America contributed to market share of over 25.0% in the overall market. It is projected to grow at significant rate in the next few years.
- Consumer electronics application segment is expected to grow at a significant rate of CAGR due to rising demand for handheld and home appliances.
Impact of COVID-19 Insights
The COVID-19 pandemic has negatively impacted the global DC motor control devices market. The global supply chain of electrical devices has been interrupted due to large scale disruption including container shipping and airfreight services. Several manufacturers are facing challenge due to lack of raw material availability. For example, OMRON Corporation has suffered big impacts in their supply chain logistics owing to reduction in delivery reliability and route frequency. The company has restarted its medical device factory in Italy with ease down in lockdown restrictions.
Thus, the market is expected to grow at steady rate with several manufacturers have started re-opening its facilities under government regulations in Europe, Middle East markets.
Global DC Motor Control Devices Market: Key Players
Eaton Corporation, OMRON Corporation, ABB, and General Electric.
Know More Insights @ https://newsonmarketblog.wordpress.com