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, according to a new report by Million Insights. 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.
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 devicemarket 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.
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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.
• Key players in the market include Eaton Corporation, OMRON Corporation, ABB, and General Electric. These players focus on investing in R & D activities to develop highly efficient products.
Million Insights has segmented the global DC motor control devices market based on application, and region:
DC Motor Control Devices Application Outlook (Revenue, USD Million, 2014 - 2025)
• Consumer Electronics
• Smart Motorized Devices
• High End Toys
• Social Robots
• Automotive & Transportation
• Marine Outboard Motors
• ATM Machines
• Pan Tilt Zoom Cameras
• Water Pump
• Actuators & Other Robotic Devices
• Medical Devices
• CPAC Machines
• Oxygen Concentrator Machines
• Breast Pump
• Electronic Spoons
DC Motor Control Devices Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa