Asia-Pacific Motor Controller Market
APAC is the largest continent and is well-known for technological innovations taking place in countries such as India, China, Japan, Australia, and South Korea. Rapid technological developments, government initiatives, digitalization of economies, and rise in disposable income of the middle-income class group are among the factors propelling the overall economic growth of the region and driving it from a developing to a developed phase. A robust infrastructure of mining sectors in China and Australia owing to the abundance of minerals along with regulatory support to promote investments at the domestic level is expected to increase the use of motor controllers. Further, the application growth of waste-water treatment in manufacturing and municipal applications owing to rising awareness toward restricting the effluent pollution effect is expected to augment the usage of the motor controller systems in aeration tanks. Further, the positive outlook toward manufacturing sectors in China and India with regulatory support to promote investments at the domestic level is expected to play a crucial role in advancing the motor controller market growth. For instance, “Make in India” campaign is an initiative by the Government of India to promote domestic level investments in the manufacturing sector. Hence, the ongoing government’s supportive regulatory toward the manufacturing sector is expected to influence positively to the motor controller market in the region.
In case of COVID-19, APAC is highly affected specially India. China imposed strict lockdown and social isolation, resulting in the suspension of manufacturing activities and shrinking of demand for electric vehicles as well as other automation products. Thus, plummeted manufacturing activities across the country resulted in a weak demand for motor controllers. Similarly, India imposed a nationwide lockdown to control the growing number of COVID-19 cases in the first half of 2020. The lockdown and disruption of various manufacturing activities subsequently contributed to degraded performance of the automation sector, thus lowering the demand for motor controllers in the early months of 2020. After China—India, Taiwan, and South Korea are also considered to have a substantial number of manufacturing activities. Since the emergence of the COVID-19 virus, these countries have undergone several lockdown phases, which has adversely affected the manufacturing and other industries. With the declining business of automotive, electronics & semiconductor components, and other consumer electronic manufacturing, the business operations in Asian economy declined noticeably. However, with the gradual resumption of businesses from the last quarter of 2020, the sales of motor controller equipment products are likely to rise in the coming years.
Strategic insights for the Asia-Pacific Motor Controller provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 922.90 Million |
| Market Size by 2028 | US$ 1,685.03 Million |
| Global CAGR (2021 - 2028) | 8.1 % |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2028 |
| Segments Covered |
By Motor Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia-Pacific Motor Controller refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The APAC motor controller market is expected to grow from US$ 922.90 million in 2020 to US$ 1,685.03 million by 2028; it is estimated to grow at a CAGR of 8.1 % from 2021 to 2028. Escalating investments in FMCG sector will drive the APAC motor controller market. A rising number of manufacturing plants owing to favorable government policies and skilled workers availability is bolstering the demand for motor controllers in APAC region. For Instance, the Make in India campaign by the Government of India has motivated many foreign players to set up factories in the country; as a part of this campaign, the government has introduced a familiar commercial legal system for easy business entry for all global manufacturing players. In addition, the availability of many unskilled workers and a rich talent pool of skilled workers, including researchers and engineers, at low costs is attracting global manufacturing players to set up their plants in several developing countries across APAC, which helps them lower their operational costs significantly. Further, rising consumption of fast-moving consumer goods in developing countries owing to the increased per capita income and growing populations is attracting goods manufacturers to set up factories in developing countries to address the local market demand. For Instance, in 2020, Proctor & Gamble (P&G) announced momentary aid for local manufacturers of finished products to encourage them to adopt advance technologies in their operations and smoothen the supply chain to meet the market demand on time. The growing number of manufacturing plants in APAC countries is resulting in the elevated demand for motor controllers to ensure energy conservation throughout the operations, thereby driving the APAC market.
In terms of motor type, the AC motor segment accounted for the largest share of the APAC motor controller market in 2020. In terms of output power range, the 0.6 - 1.0 HP segment held a larger market share of the APAC motor controller market in 2020. In terms of voltage type, the below 1 kV motors segment held a larger market share of the APAC motor controller market in 2020. Further, the industrial segment held a larger share of the APAC motor controller market based on end-user in 2020.
A few major primary and secondary sources referred to for preparing this report on the APAC motor controller market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ABB Ltd., AMETEK Inc., Eaton Corporation plc, General Electric Company, Microchip Technology Inc., Nidec Corporation, and Parker-Hannifin Corporation.
The Asia-Pacific Motor Controller Market is valued at US$ 922.90 Million in 2020, it is projected to reach US$ 1,685.03 Million by 2028.
As per our report Asia-Pacific Motor Controller Market, the market size is valued at US$ 922.90 Million in 2020, projecting it to reach US$ 1,685.03 Million by 2028. This translates to a CAGR of approximately 8.1 % during the forecast period.
The Asia-Pacific Motor Controller Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia-Pacific Motor Controller Market report:
The Asia-Pacific Motor Controller Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia-Pacific Motor Controller Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia-Pacific Motor Controller Market value chain can benefit from the information contained in a comprehensive market report.
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