Motor Drive System Market: Market Overview
The innovative designs of the motor drive system enable the creation of a more reliable and precise control as well as drive system along with the highest efficiency of power. The motor drive system offers a unique feature of precise analog technology, for controlling torque, speed, and position. For accurate and real time motor control, these are also coupled with advanced processing of signals. The motor drive system also offer isolation ratings and the best isolation technology with increased lifetime. The motor drive system possesses innovative power, motor control and drives solutions that reduce the consumption of energy. They help in achieving the greatest efficiency of parallel integration and many advanced approaches; which switches the supplies and ultimately results in reducing the carbon footprint. The motor drive system also helps in boosting a manufacturer’s competitive edge and time to profit. New features in the motor drive system have made purpose drive setup and installation easier. Siemens AG is the pioneer company which has developed a solution for integrating inverter and motor of the electric car in a single housing. Prior to it, the inverter and motor were different and separate components. These are also responsible for converting a battery’s direct current into an alternate current for the motor.
Motor Drive System Market: Market Dynamics
The increasing demand for electric cars is fueling the growth of motor drive system market. The growing need for components with compact size in order to save space is also contributing to the market growth. The requirement for light weight components is another driving factor for the market of the motor drive system. The need to reduce the manufacturing cost for sustaining in the growing competition also triggers the motor drive system market growth. However, the high initial cost of investment is a restraining factor for the growth of the motor drive system market. The complexity and design in machine modeling are also challenging factor for the growth of the motor drive system market. Stringent government regulations pertaining to environment conservation coupled with a manufacturer’s own initiatives for sustainable development are creating the scope for the development of motor drive system market. This is attributed to the less power consuming feature of the motor drive system.
The software to model and simulate control systems and complex motor algorithms coupled with the application, advanced and basic training; also widens the scope of the motor drive system market. One of the prominent trends in the global motor drive system market is the availability of customization to serve the specific needs of the customer. Companies are offering a broad portfolio of the motor drive system with a wide variety of sizes. Another prominent trend is the availability of effective servicing and replacement of all spare parts and the complete system itself; by most of the manufacturers. In automobiles especially in electric vehicles, the motor drive system is one of the cores and basic component.
To Garner Compelling Insights on The Forecast Analysis of Market, Request a Sample Here
Motor Drive System Market: Market Segmentation
The global motor drive system can be segmented by the following end-user industries:
- Ship Propulsion and Steering
- Industrial & Mining
Motor Drive System Market: Regional Outlook
The global motor drive system market geographically is segmented as North America, Eastern Europe, Western Europe, Latin America, Asia-Pacific excluding Japan, Japan, and Middle East & Africa. North America and Europe hold a significant market share of motor drive system market owing to the fully automated manufacturing processes. Furthermore, the increase in R & D activities related to aerospace and automobiles, wherein motor drive system is useful machine component, aids in boosting the growth of motor drive system market in the region. The market in the APEJ region is more inclined towards growing demand for motor drive system because of the increasing industrial automation.
For More Actionable Insights into The Competitive Landscape of Market, Get a Customized Report Here
Motor Drive System Market: Prominent Players
Some of the prominent players in the global motor drive system market are:
- Kaman Automation, Inc.
- Schambmuller GmbH
- Nidec Motor Corporation
- Siemens AG
- Rockwell Automation, Inc.
- Hushcraft Ltd.
- Hemco Power & Control Systems Ltd.
- Hi Performance Electric Vehicle Systems
- Powersys Solutions
- Emerson Electric Co.
- Sprint Electric Limited