#induction motor Market Outlook
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Induction Motor Market - Forecast(2022 - 2027)
Induction Motor Market Size is forecast to reach $54.2 billion by 2026, at a CAGR of 6.5% during 2021-2026. An induction motor is an AC electric motor in which torque is produced by the reaction between a varying magnetic field generated in the stator and the current induced in the coils of the rotor. It is used in a majority of machinery, as it is more powerful and eco-friendly compared to the conventional motors in the market. North America has significant share in global induction motor market due to a developed usage of an induction motor in the significant industrial manufacturing, aerospace & defense, and automotive companies. In addition to the growing preference for electric vehicles in the U.S. is also stimulating the growth in North America.
Report Coverage
The report: “Induction Motor Market Report– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Induction Motor market
By Rotor Type: Inner Rotor, Outer Rotor
By Type: Single Phase, Three Phase
By Efficiency Class: IE1, IE2, IE3, IE4
By Voltage: Upto 1KV, 1-6.6 KV, Above 6.6KV
By Vertical: Industrial, Commercial, Residential, Agriculture, Automotive and Others
By Geography: North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle East and Africa)
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Key Takeaways
The rising demand for efficient energy usage over concerns of environmental impact of energy generation from conventional sources such as coal and natural gas, is expected to help grow the Induction Motor market in APAC.
The inner rotor segment is growing at a significant CAGR rate of 7.1% in the forecast period. In inner rotor type motors, rotors are positioned at the centre and surrounded by stator winding.
Automotive sector is expected to witness a highest CAGR of 8.9% the forecast period, owing to various factors such as increase in sales of electric vehicles due to rising concerns over greenhouse gases emissions, and favourable government policies in countries such as India, China and so on.
Induction Motor companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers.
Induction Motor Market Segment Analysis - By Rotor Type
Three Phase segment is growing at a significant CAGR of 11.1%
in the forecast period. A three phase induction motor is a type of AC induction motors which operates on three phase supply. These three phase induction motors are widely used AC motor to produce mechanical power in industrial applications. Almost 70% of the machinery in industrial applications uses three-phase induction motors, as they are cost-effective, robust, maintenance-free, and can operate in any environmental condition. Moreover, induction motors are the most used in industry since they are rugged, inexpensive, and are maintenance free. In addition they are widely used in the mining metals and cement, automotive, oil and gas, healthcare, manufacturing industries and so on. Increase awareness of environmental protection across industries also contributes to the growth of three phase induction motors, as they have a low emission rate. Moreover, the shift towards industrial automation, coupled with the rising consumer confidence & promising investment plans triggers demand for the three phase induction motor in industrial application. Furthermore, the advent of Industry 4.0 and technological advancements enables a wide adoption base for the three phase induction motors. In 2019, Oriental Motor USA introduced their latest high efficiency three-phase AC induction motors equipped with a terminal box and a high strength right-angle hypoid gearhead, these new three-phase motors have the capacity of two new wattages of 30W and 40W and expands the KIIS Series Standard AC motors product line-up.
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Induction Motor Market Segment Analysis - By Vertical
Automotive sector is expected to witness a highest CAGR of 8.9% in the forecast period, owing to various factors such as increase in sales of electric vehicles due to rising concerns over greenhouse gases emissions, and favorable government policies in countries such as India, China and so on. In addition, the shift towards industrial automation, coupled with the rising consumer confidence & promising investment plans triggers demand for the induction motor in industrial application. Furthermore, the advent of Industry 4.0 enables a wide adoption base for the induction motors. Moreover, growing number of product launches by major manufacturers will drive the market growth in the forecast period. In September 2019, Motor and drive manufacturer WEG released the M Mining series of slip-ring induction motors which are designed especially for use in the dusty environments of iron ore operations and the cement sector. In July 2019, Ward Leonard launched 2000 HP induction motor WL29BC200 which is designed tote into a package of 15000 HP for the oil and gas industry. In September 2019, Tata Motors launched Tigor EV for private buyers as well as cab aggregators and EESL staff. he Tata Tigor electric uses a 72 V, 3-Phase Induction motor
Induction Motor Market Segment Analysis - By Geography
Induction Motor market in Asia-Pacific region held significant market share of 38.5% in 2020. Increasing compliance for energy efficient motors and rising adoption of motor-driven electric vehicles are the key factors driving market growth. The rising demand for efficient energy usage over concerns of environmental impact of energy generation from conventional sources such as coal and natural gas, is expected to help grow the Induction Motor market. In addition advancements in the agriculture sector and enormous investments in industrialization in countries such as China, India, South Korea, and Australia is driving the market growth. Further, the increasing production and sales of electric vehicles in countries including China and Japan is also analyzed to drive the market growth.
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Induction Motor Market Drivers
Robust Structure of Motor
The rough physical structure of the motor is predicted to be a major driving factor for the growth of the induction motor market. Induction motor are robust in nature and can be operated in any climatic conditions. Moreover, the absence of slip rings and brushes in the motor induction eliminates the chances of sparks, which makes the operation safe even in the most explosive working conditions. In addition, induction motor is cost effective, highly reliable and the maintenance is very less, which is expected to propel the growth of the induction motor market in the forecast period 2021-2026.
Rise in Production of Electric Vehicles
The electric car market has witnessed rapid evolution with the ongoing developments in automotive sector and favourable government policies and support in terms of subsidies and grants, tax rebates. As induction motors especially three phase are widely used in electric vehicles because of high efficiency, good speed regulation and absence of commutators is analysed to drive the market growth. In addition these motor also serves as an alternative of a permanent magnet in the electric vehicles. Hence rise in production of electric vehicles is analysed to drive the market. In 2019, Ford has invested $1.45 billion in Detroit plants in U.S., to make electric, autonomous and sports utility vehicles, which is mainly aimed to increase the production of the vehicles thereby impacting on the high procurement of the induction motors. In 2019, Toyota announced plans to invest $749M in expanding the U.S. manufacturing facilities to increase the production of the electric and hybrid vehicles. In 2020, General Motors had committed boost its electric vehicle production by investing more than $7 billion. Moreover governments of several countries have been investing heavily for the development of electric vehicles. In 2019 German government has committed to invest more than $3 billion to expand electric car market growth in the region. Hence these investments and developments are analysed to be the key drivers for the growth of the electric vehicle market and thereby the growth of induction motor market during the forecast period 2021-2026.
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Induction Motor Market Challenges
Easy availability of low-quality Induction Motors
The market for Induction Motors is highly fragmented, with a significant number of domestic and international manufacturers. Product quality is a primary parameter for differentiation in this market. The organized sector in the market mainly targets industrial buyers and maintains excellent product quality, while the unorganized sector offers low-cost alternatives to tap local markets. Local manufacturers of Induction Motors in most countries target the unorganized sector and compete strongly with the global suppliers in the respective markets. Leading market players are currently exposed to intense competition from such unorganized players supplying inexpensive and low-quality Induction Motors. This acts as a key challenge for the growth of the market.
Induction Motor Market Landscape
Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Induction Motor market. Induction Motor top 10 companies include ABB Ltd. AMETEK, Inc., Johnson Electric Holdings Limited, Siemens AG, Rockwell Automation, Toshiba Corp., Hitachi Ltd., Nidec Corporation, ARC Systems Inc., among others.
Acquisitions/Product Launches
In 2021 BorgWarner launched HVH 320 Induction Motors in four variants. They are offered to light-duty passenger cars and heavy-duty commercial vehicles.
In 2020, ABB has launched new range of low voltage IEC induction motors, which are compactly designed and reduces the overall size of the equipment by minimizing space and total cost of ownership.
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Unveiling Insights into the Automotive Electric Motors Market: A Comprehensive Analysis
Embark on a journey through the dynamic landscape of the automotive electric motors market, where we uncover key insights, trends, challenges, and opportunities driving the industry forward. With a commitment to providing in-depth and actionable intelligence, we empower stakeholders to navigate the evolving market landscape with confidence and clarity.
Understanding the Automotive Electric Motors Market
The automotive electric motors market serves as a pivotal enabler of vehicle electrification, powering a wide range of electric and hybrid vehicles with efficiency, reliability, and sustainability. As the automotive industry undergoes a profound transformation towards electrification and emission reduction, electric motors play a central role in driving innovation, performance, and environmental stewardship.
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Market Size and Growth Trajectory
The automotive electric motors market is experiencing rapid growth and expansion, driven by factors such as increasing demand for electric vehicles, stringent emissions regulations, and advancements in motor technology. With a growing emphasis on electrification across various vehicle segments, the demand for electric motors is expected to surge in the coming years. Recent data indicates a significant uptick in investments and collaborations within the electric motor industry, signaling a promising outlook for market growth and innovation.
Key Drivers and Trends
Several factors are driving the growth and evolution of the automotive electric motors market. Technological advancements in motor design, materials science, and power electronics are enabling the development of more efficient, compact, and lightweight electric motors. Additionally, the shift towards electric and hybrid vehicles, coupled with increasing consumer awareness of environmental issues, is reshaping the automotive industry's landscape and driving demand for electric propulsion systems.
Challenges and Opportunities
While the automotive electric motors market presents exciting opportunities for innovation and growth, it also faces challenges such as cost constraints, supply chain disruptions, and technology integration complexities. However, within these challenges lie opportunities for strategic partnerships, research and development initiatives, and market differentiation. By embracing innovation and collaboration, stakeholders can overcome obstacles and unlock the sector's full potential.
Sectorial Analysis: Exploring Key Segments
To gain a comprehensive understanding of the automotive electric motors market, it is essential to delve into its various segments and sub-sectors.
Permanent Magnet Motors
Permanent magnet motors, featuring high power density, efficiency, and reliability, are widely used in electric and hybrid vehicles. Advances in rare-earth magnet technology, motor design optimization, and thermal management are driving the adoption of permanent magnet motors in various automotive applications, ranging from electric powertrains to auxiliary systems.
Induction Motors
Induction motors, known for their robustness, simplicity, and cost-effectiveness, remain prevalent in certain electric vehicle segments. While induction motors lack the high power density of permanent magnet motors, they offer advantages such as ruggedness, tolerance to high temperatures, and suitability for mass production.
Brushless DC Motors
Brushless DC motors, characterized by high efficiency, precise control, and compact size, are gaining traction in electric vehicle propulsion systems and ancillary components. With advancements in motor control algorithms, sensor technology, and electronic commutation, brushless DC motors offer superior performance and reliability compared to traditional brushed motors.
Future Outlook and Strategic Imperatives
Looking ahead, the automotive electric motors market is poised for dynamic growth and innovation. To capitalize on emerging opportunities and address evolving challenges, stakeholders must prioritize strategic imperatives and embrace a forward-thinking approach.
Technology Advancements
Investing in research and development initiatives aimed at advancing motor technology, materials science, and power electronics will be crucial for maintaining competitiveness and driving innovation in the automotive electric motors market. Emerging technologies such as silicon carbide semiconductors, wireless power transfer, and direct-drive systems hold the potential to revolutionize the efficiency, performance, and reliability of electric propulsion systems.
Supply Chain Resilience
Building resilient and agile supply chains will be essential for meeting the growing demand for electric motors and components while mitigating risks associated with geopolitical uncertainties, raw material shortages, and global supply chain disruptions. Diversifying sourcing strategies, fostering strategic partnerships, and leveraging digitalization tools can enhance supply chain visibility, flexibility, and responsiveness.
Regulatory Compliance and Sustainability
Adhering to stringent emissions regulations and sustainability standards will be paramount for the automotive electric motors market to ensure environmental compliance and promote sustainable development. Investing in eco-friendly manufacturing processes, recyclable materials, and end-of-life recycling programs can minimize the environmental footprint of electric motor production and contribute to a greener automotive industry.
Conclusion
In conclusion, the automotive electric motors market presents a compelling opportunity for stakeholders to drive innovation, sustainability, and performance in the global automotive industry. By embracing technological advancements, fostering collaboration, and prioritizing sustainability, stakeholders can navigate the complexities of the market landscape and position themselves for success in an increasingly electrified and sustainable automotive future.
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India Induction Motor Market Outlook
The India induction motor market size reached US$ 671.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,162.3 Million by 2028, exhibiting a growth rate (CAGR) of 9.51% during 2023-2028. The market is primarily driven by the increasing need for consumer electronics across the country. The rising population in India, coupled with rapid urbanization, is propelling the demand for appliances like air conditioners, dishwashers, hairdryers, and washing machines, thereby fueling the growth of the market.
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Revolutionizing Performance: Saudi Arabia's Evolution in Induction Motors for 2023
Saudi Arabia's industrial landscape is witnessing a significant evolution, with technological advancements revolutionizing various sectors. Among these pivotal advancements, the Induction Motor market stands out as a critical element in driving efficiency and productivity across industries. As we embark on 2023, the Saudi Arabian Induction Motor market continues to play a pivotal role in enhancing industrial operations and powering the Kingdom's economic growth. Let's explore the current dynamics, emerging trends, and the future potential of the Induction Motor market in Saudi Arabia.
Rapid Growth and Market Dynamics: The Induction Motor market in Saudi Arabia has been experiencing substantial growth, fueled by factors such as industrialization, infrastructure development, renewable energy projects, and a focus on energy efficiency. These motors serve as indispensable components in various applications across industries, including manufacturing, oil and gas, utilities, and more.
Key Factors Driving Induction Motor Adoption:
Industrial Automation: With a push towards Industry 4.0, the demand for efficient and reliable motors has surged. Induction motors play a crucial role in driving conveyor systems, pumps, compressors, and other automated industrial equipment.
Energy Efficiency Regulations: Government initiatives promoting energy efficiency have propelled the adoption of high-efficiency Induction Motors. These motors offer improved performance while adhering to stringent energy efficiency standards.
Renewable Energy Projects: In the renewable energy sector, Induction Motors are utilized in wind turbines and solar power systems. These motors aid in the conversion of renewable energy sources into electrical power.
Urbanization and Infrastructure Development: The expansion of infrastructure projects in Saudi Arabia, including construction and transportation, has increased the demand for Induction Motors used in HVAC systems, escalators, elevators, and more.
Challenges and Opportunities: Despite the market growth, challenges such as price volatility of raw materials, competition from alternative motor technologies, and the need for skilled technicians for maintenance persist. However, these challenges also create opportunities for innovation, R&D investment, and skill development to meet evolving market demands.
Future Outlook and Conclusion: As 2023 unfolds, the Induction Motor market in Saudi Arabia is poised for continued growth and innovation. Collaborations between manufacturers, investments in R&D for motor efficiency improvements, and adoption of smart technologies in motor systems will drive market advancements. The Kingdom's commitment to industrial development, coupled with the increasing emphasis on energy-efficient solutions, paints a promising picture for the Induction Motor market in Saudi Arabia.
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In conclusion, the Induction Motor market in Saudi Arabia in 2023 is witnessing rapid evolution, playing a vital role in powering industrial operations and infrastructure development. With ongoing advancements and strategic initiatives, the Kingdom is poised to maintain its position as a key player in the Induction Motor market, contributing significantly to industrial efficiency, energy conservation, and technological progress.
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Global Motor Monitoring Market Overview – Market Growth Analysis And Key Drivers
The Motor Monitoring Global Market Report 2023, provides comprehensive information on the motor monitoring market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Motor Monitoring Market’s Growth:
As per The Business Research Company’s Motor Monitoring Global Market Report 2023, the global motor monitoring market size is expected to grow from $2.12 billion in 2022 to $2.31 billion in 2023 at a compound annual growth rate (CAGR) of 8.93%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The global motor monitoring market size is expected to reach $3.12 billion in 2027 at a CAGR of 7.78%.
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Technological advancement is the key trend traction in the motor monitoring market. Major companies operating in the motor monitoring market are focusing on developing new technologies. For instance, in May 2022, TMEIC Asia Pte. Ltd., a Singapore-based company that designs and manufactures induction, synchronous motors, and generators, launched TMASMS, an artificial intelligence (AI) based smart motor sensor. The platform offers high-performance predictive maintenance can be used for electric motors that enables the early prediction of motor failures and contributes to the steady operation of factories and plants by continuously monitoring and analyzing data.
The motor monitoring market is segmented:
1) By Offering: Hardware, Software, Services
2) By Deployment: On-Premise, Cloud
3) By Monitoring Process: Oil Analysis, Motor Current Analysis, Ultrasound, Thermography, Vibration Analysis, Other Monitoring Process
4) By End User: Automotive, Oil And Gas, Metals And Mining, Power Generation, Water And Wastewater Treatment, Food And Beverages, Chemicals, Other End Users
North America was the largest region in the motor monitoring market in 2022.
The table of contents in TBRC’s motor monitoring market report includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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Induction Motor Market Size, Share & Industry Analysis, By Type (Single Phase, Three Phase) By Application (Residential, Industrial, Commercial, Transportation, Others) and Regional Forecast, 2022-2029
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Bare Copper Tapes Market Size, Industry Share, Growth Demand, Supply Chain, Trends Future Outlook, Forecast 2030
The latest market report published by Credence Research, Inc. “Global Bare Copper Tapes Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global market for bare copper tapes has steadily risen in recent years and is predicted to increase at a CAGR of xx% between 2023 and 2030. In 2022, the market was valued at USD xx billion, and it is predicted to reach USD xx billion by 2030.
The global bare copper tapes market is segmented by type, application, and region. Annealed (soft) stands as the leading segment by type, while the Earthing segment is expected to exhibit the greatest Compound Annual Growth Rate (CAGR) during the forecast period. The Asia Pacific region emerges as a significant driving force behind the expansion of the bare copper tapes market.
Bare Copper Tapes Market Drivers refer to the factors that propel the growth and demand of bare copper tapes in various industries. The first driving force is their excellent electrical conductivity, which makes them an ideal choice for applications requiring efficient power transmission and grounding systems. Furthermore, their high thermal conductivity ensures effective heat dissipation, making them vital in industries where temperature regulation is crucial. Another key market driver is their exceptional corrosion resistance, enabling long-lasting performance even in harsh environments such as marine or chemical processing plants. Additionally, bare copper tapes' flexibility and malleability make them easy to shape and install on different surfaces without compromising integrity. Their compatibility with soldering processes also contributes to their popularity in electronics manufacturing sectors.
Major Factors Driving the Global Bare Copper Tapes Market
The primary factors fueling market growth are the increasing demand for electronics and the expanding automotive industry. The world's growing appetite for electronic gadgets, such as smartphones, tablets, computers, and televisions, along with advancements in technology and consumer preferences, drive the demand for bare copper tapes in various electrical connections, grounding, shielding, and signal transmission applications.
In parallel, the automotive industry is constantly evolving, with a strong focus on electric vehicles (EVs), autonomous driving, and improved networking technologies. Bare copper tapes play a crucial role in EV applications, such as battery connections, power electronics, motor windings, and charging infrastructure. As the automotive sector continues to grow and embrace these advancements, the demand for bare copper tapes is poised to rise further.
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Application Segmentation
The bare copper tapes market is categorized by application into several segments:
1. Earthing
The Earthing segment is projected to witness the highest CAGR during the forecast period. Bare copper tapes are extensively used for earthing applications due to their excellent electrical conductivity and thermal dissipation properties.
2. Lightning Protection
Bare copper tapes are utilized for lightning protection systems, providing a reliable path for lightning currents to safely reach the ground, thus protecting structures and electrical equipment.
3. General Engineering
In general engineering applications, bare copper tapes serve as essential components in electrical connections and grounding systems, ensuring optimal electrical performance.
4. Electrical Conductor
As electrical conductors, bare copper tapes facilitate the smooth flow of electric current in various applications, ranging from electronics to power distribution.
Why to Buy This Report-
The report provides a qualitative as well as quantitative analysis of the global Bare Copper Tapes Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
The report includes information on the competitive landscape, such as how the market's top competitors operate at the global, regional, and country levels.
Major nations in each region with their import/export statistics
The global Bare Copper Tapes Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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Industrial Motors Industry Dynamics, Segmentation & Future Outlook 2022 to 2032
The worldwide industrial motors market is estimated to develop at a 3.5% CAGR from 2022 to 2032, reaching a value of more than US$ 917.3 million in 2032. Several government entities, like the European Water Association (Europe), the Environmental Protection Agency (US), and the India Water Works Association (India), are actively drafting legislation and regulations governing water disposal and reuse programmes.
The Environmental Protection Agency (EPA) in the United States, for example, has made it essential for companies to purify water before disposing of it. In this regard, specifications for maximum allowed contamination levels have been devised.
Furthermore, severe government laws have been put in place for the construction of water projects to produce power, handle water waste, and stop deposit exploitation, among other things. These industrial water and wastewater projects are expected to have a direct impact on the growth of the industrial motors market from 2022 to 2032.
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Companies are forming strategic alliances to expand their reach into emerging and untapped markets. In the coming years, Future Market Insights (FMI) expects the United States, India, and China to emerge as the most dominant markets for industrial motors.
Key Takeaways from Market Study
By product type, AC motors are projected to hold a market share of 71% in 2032.
By end use, the energy segment is anticipated to boost the demand for industrial motors globally and demand from it is expected to grow at 1% from 2022 to 2032.
By power output, the 15 to 20 MW segment is expected to accelerate and create and incremental opportunity of US$ 70.5 million in between 2022 to 2032.
By 2032, Europe is expected to have the largest share of the global market, accounting for around 7%.
“The market for industrial motors is predicted to expand rapidly due to increasing demand for innovative and energy efficient products across industries. Rising automation and digitalization in a variety of end use sectors are driving demand. Industry participants are investing in strategic alliances, expansions, and cost effective solutions to obtain a competitive advantage.” Says an FMI analyst.
Who is Winning?
Among the industry’s key players are ABB Group, Siemens AG, Hyundai Electric Co. Ltd., Toshiba Corporation, Nidec Corporation, Hitachi, Ltd., WEG S.A., General Electric Co. , Bonfiglioli Riduttori S.p.A., Hyosung Corporation, Menzel Elektromotoren GmbH, Kirloskar Electric Company Ltd., and Regal Beloit Corporation.
Globally, the key market players are focus on developing and extending production technologies and expansion capacities to meet the industry demands.
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Future Market Insights, in its new offering, provides an unbiased analysis of the global industrial motors market, presenting historical demand data (2017 to 2021) and forecast statistics for the period from 2022 to 2032. The study divulges compelling insights on the industrial motors market based on product type (AC Motors, DC Motors), power output (1 to 5 MW, 5 to 10 MW, 10 to 15 MW, 15 to 20 MW, 20 to 25 MW), and end use (oil & gas, energy, mining, cement, metal and steel, pulp and paper, chemical, water and wastewater, marine) across seven key regions.
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Global Industrial Motors Market by Category
By Power Output:
1 to 5 MW
5 to 10 MW
10 to 15 MW
15 to 20 MW
20 to 25 MW
By Product Type:
AC Motors
Induction Motor
Synchronous Motor
DC Motors
Brushed DC
Brushless DC
By End Use:
Oil & Gas
Energy
Mining
Cement
Metal and Steel
Pulp and Paper
Chemical
Water and Wastewater
Marine
By Region:
North America
Latin America
Europe
East Asia
South Asia Pacific
Middle East and Africa
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Why You Should Be Worried About the Future of Induction Motor Market
Global Digital Identity Solutions Market is Segmented By Component( Solutions, Services), By Solutions( Biometrics, Non- Biometrics, Others), By End- User( BFSI, Healthcare, Retail& E- Commerce, Education, IT& IT Services, Government, Others), By Organization Size( Small& Medium Enterprises, Large Enterprises), and By Region( North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)– Share, Size, Outlook, and Opportunity Analysis, 2022- 2029
Digital Identity Solutions Market Size, Demand Insights
The global digital identity solutions market size is growing at a high CAGR during the forecast period (2022- 2029).
Information on an entity used by a computer program to reflect an exterior employee is digital identity. Accessing computers and providing services to clients is made possible by digital self-systems. An electronic identity solution is the conformity of information about an entity that exists in a modern form, encompassing all information ranging from the animal's date of birth to all actions on social media platforms.
The solutions have numerous advantages, including high accuracy& compliance, minimum operational costs, improved customer experience, and enhanced security. As they have a large workplace and accompanying networking equipment liable to identity- related threats, many businesses benefit from electronic identification solutions.
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Digital Identity Solutions Market Dynamics and Trends
Self-results have received greater popularity due to the increasing implementation and investments in digital change, as it aids protected identification and improved beneficial security, which promotes industry growth. As per the International Data Corporation (IDC), 40 percent of all technology spending is committed to transformations each year, leading to concurrent rises in the market for digital identity solutions over the projection period.
The increasing adoption of verification across several end- user
Before, identification and authentication were only available in certain sectors, such as finance, finance, and aircraft. Identification and authentication were day- consuming procedures that necessitated a great deal of paperwork. Identification and authentication procedures have become easier due to greater technical innovation and digitisation, yet there are certain issues, such as data security and privacy intrusions.
Banks were the first to use the simpler verification procedure, followed by other industries such as store, eCommerce, and healthcare. Even though this growing employ across additional end- users is now limited to a few privileged countries, it is quickly gaining traction globally. As a result, it is a fantastic option that businesses are looking for.
Biometrics integrated phones
The number of smartphone clients internationally has surged due to rapid technology advances and the earth is becoming more linked than ever before. The only safe verification method was using a password essential mechanism in the past. As technology advances, login security measures are becoming easier to utilize. Modern identity- based security, such as biological technology and dual- factor authentication, is safer than passwords. Most phones come with a camera and security features like biometric and cosmetic recognition. Many cell phone manufacturers are incorporating fingerprint and cosmetic recognition systems into their products.
These verification programs are also popular among customers because they are more stable. After all, just one person you unlock them. Smartphones will be even more effective soon, thanks to increased website buying due to a growth in e-commerce and an increase in digital identity- based verification in sectors like BFSI and retail. As a result of comfort and reduced time consumption, digital identity- based authentication may ultimately replace conventional password systems.
Higher deployment costs
Businesses across all industries are concerned regarding the growing threat of attacks and identification- related frauds and thefts. To address the security issues, organizations have begun to install modern identification solutions for recognition& verification. However, one of the reasons limiting the growth of the modern self-options market is the high cost of deployment.
The initial expenses and expenditures required to establish digital identity treatments are huge. Because of their small expenditures, SMEs often just pay attention to protection after a breach. Businesses prioritize the security of just important servers, ignoring the information held in databases, which becomes vulnerable to cyber- attacks. As a result, the unsatisfactory resources remain a significant problem for professionals to correctly carry out IT security operations.
COVID- 19 Impact on Digital Identity Solutions Market Growth
The COVID- 19 pandemic positively impacted the market for digital self-treatments. COVID- 19- imposed shutdowns and mandates to proceed industries and organizations to act mildly increase the common use of BYOD devices. As a result, there is a critical market demand for digital identity systems.
Amid the COVID- 19 pandemic, the necessity for security measures and digital housekeeping practices to maintain strong protection policies and procedures grew, contributing to the development of the digital self-solutions market.
Digital Identity Solutions Market Segment and Shares Analysis
The digital self-options market is segmented into little& medium enterprises and large enterprises by business size.
Big enterprises are extremely prone to risks related to identity.
Large companies have a larger proportion of the global digital identifying treatments market in terms of profits. Big companies are redesigning their protection policies and architecture to embrace modern identity solutions to protect important assets from broad cyber- attacks. They were early adopters of electronic identifying treatments because they have a large workforce and connected networking hardware vulnerable to identity- related risk. The companies employ a huge number of people, making them especially vulnerable to identity- related risks and, as a result, to information loss.
However, because the companies are based in different parts of the world, they exchange true- day records with their team. These data losses might seriously affect an organization's economic development in the face of escalating cyber- attacks. As a result, businesses are likely to engage in modern designation solutions to alleviate self-challenges. It will very likely enhance need in the targeted market category.
Digital Identity Solutions Market Geographical Analysis
The later adoption of digital identity options in North America
North America held a majority of the global market share and is expected to continue to do so in the upcoming years. Because of the early adoption of modern identification options for managing responsibilities effectively and securely across enterprises and business end- users. However, businesses and industries in the region are speedily using digital self-solutions to enable data protection and sustain data security and confidentiality to ensure business continuity.
However, the area has a big pool of marketplace suppliers with various operations and consumer bases, resulting in increased availability of like solutions. Daon and ForgeRock, for example, extended their latest cooperation in May 2020 to contain their biological products with plug- and- play biological nodes. This type of program is also to blame for the marketplace growth in the region.
Digital Identity Solutions Companies and Competitive Landscape
Item launches, approvals, and other edible growth tactics such as patents& events are being prioritized by many companies. Acquisitions, partnerships, and collaborations were seen as chemical development tactics. With the rise in demand internationally, market users in the electronic identity solutions sector are expected to benefit from appealing development prospects.
GBG and Sanci Address formed assistance in June 2020 to strengthen retailer and logistics firm location information for easier access to specialty markets. In September 2020, Thales Group partnered with AUGENTIC- INCM to secure a huge national ID record contract in Sweden and Cameroon. The contract would help the Republic of Cameroon as it revolutionizes its biological passport and issuing procedure.
Large global digital identity systems sector enterprises include NEC Corporation, Samsung SDS America Inc., Thales Group, TELUS team, ForgeRock, Jumio, Tessi, Duo Security, Image merchandise systems Inc., and Syntizen Technologies Pvt. Ltd.
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Alternator Market - Forecast (2022 - 2027)
Alternator Market Size is forecast to reach $18.5 billion by 2026, at a CAGR of 4.28% during 2021-2026. In the power sector and industrial sector, there is a requirement of devices for energy conversion where the alternators comes into the picture as it converts mechanical energy into electrical energy. In these sectors there is a huge requirement of steam turbines driven alternators to extract thermal energy from pressurized steam and uses it to do mechanical work on a rotating output shaft. The demand for alternators have witnessed a positive growth in the market increasing consumption of alternating current in different sectors, such as automotive, gas, industrial manufacturing and others. Growing investment in grid infrastructure in the developing regions has driven the demand for prime movers to provide electricity for the traction motors (AC or DC) used in power generation. In addition, the adoption of offshore wind energy with advance technology has driven the growth of induction generators as it produces a three phase voltage output. Growing applications of alternators in various industrial verticals such as electric generators, automotive, marine, gas and oil industries, power plants and others has increased the degree of competition in the global alternator market.
Alternator Market Report Coverage
The report: “Alternator Market Industry Outlook– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Alternator Market
By Type: Permanent Magnet Alternators, Synchronous Alternators, Electro-Magnet Induction Alternators
By Voltage: <220V, 220-440V, >440V
By Rated Power: <1, 1Kw-5Kw, 5Kw-50Kw, 50-500Kw, 500-1500Kw, 1500-5000Kw, >5000Kw
By Speed: Low, Medium, High, Ultra –High
By Fuel Type: Fossil Fuels, Natural Fuels
By Engine Type: Gas Engine, Diesel Engine
By Turbine Type: Gas Turbine, Stem Turbine
By End Users: Oil and Gas, Industrial, Residential and Commercial, Prime Power, Data Centers, Others
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, Australia and Others), and RoW (Middle East and Africa, South America)
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Key Takeaways
Surge in the Industrialization along with the growth of automotive sector owing to the rising disposable income has increased the adoption of alternators as they produce alternating current supply and converts mechanical energy into electrical energy.
Major fuels used in the global alternator market are fossil fuels and natural among which fossil fuel segment is expected to witness a highest CAGR of 5.01% the forecast period, owing to major use of diesel, gas, coal and others for the propulsion of the alternators.
APAC is witnessing a major growth in the market owing to the surge in automotive industry and Power sector where the alternators are used to generate the power which are further distributed by the electric power grids.
Alternator Market Segment Analysis - By Type
The Synchronous alternator segment is growing at a significant market value of 28.16% in 2020 as it is highly used in industrial applications. Generator is to generate commercial frequency current frequently by converting the mechanical energy from the main mover to an AC electrical energy at a specific frequency & voltage. Rapid growth of industrialization has surged the demand for power which is highly augmenting the need for synchronous alternator as it provides power to a grid ranging from 100 kilowatts to several megawatts. The growing energy consumption indicates an increase of industrial growth which in turn has growing need for highly efficient, robust and reliable wind turbines. In addition, the need for synchronous alternators are rising as the extremely harsh environments of the offshore wind farms lead to increased risk of pressure pulsation peaks and vibrations.
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Alternator Market Segment Analysis - By End Users
Industrial sector is expected to witness a highest CAGR of 5.11% during the forecast period, owing to the presence of a vast Energy sector globally where the Oil and Gas is a major alternators used in providing reliable power to critical downhole drilling tools and also used as constant source of power replacing batteries. According to the organization of the petroleum exporting countries (OPEC), Kuwait Petroleum Corporation (KPC), increased crude oil production capacity to 4 mb/d in 2020. Here the additional production capacity comes from technically challenging sour and heavy fields. Kuwait has accordingly awarded enhanced technical service agreements with international firms for development of heavy oil. This impacted the growth of steam turbines in power production along with induction generators and prime movers. In addition, The Clean Fuels Project (CFP), started in 2019, transformed Kuwait’s two refineries into a single integrated merchant-refining complex. As part of this integration project, Mina al-Ahmadi refinery shed 120,000 b/d and the Mina al-Abdulla refinery added 184,000 b/d resulting in a net gain of 64,000 b/d with a total of 800,000 b/d refining capacity at the new integrated complex in 2019. All these boosted the growth of the Alternator Market.
Alternator Market Segment Analysis - By Geography
Alternator Market in Asia-Pacific region held significant market share of 30.10% in 2020. The growth in APAC is chiefly driven by extensive industrial and urbanization activities in countries such as Japan, India, and China accompanied with the rising disposable incomes and prevalence of a luxurious lifestyle have led to a surge in the sales of vehicles over the years. In addition, rising industrialization along with growth in cogeneration offer new opportunities, thereby creating an attractive market for the alternators. Indian government announced in 2019 that it planned to invest $35 billion for reforming the utility sector. The investment focused on infrastructure and technology upgrades of the ailing utilities to make them more efficient and reduce financial losses. In addition, South Korea based Hyundai Motor Group announced in 2019 to invest $34.65 billion in mobility technology and strategic investments by 2025. Additionally it received funds from South Korean government worth 1.7 trillion won to boost autonomous vehicle technology. Investments such as these will open new prospects for alternators in automotive applications.
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Alternator Market Drivers
Growth of alternators in Marine applications:
Increasing government support for navy defense, combined with the robust growth of progressive shipping lines, is expected to boost the use of alternator market trends. The United States government is aggressively investing in upgrading its current naval shipyards and fleet repair and maintenance where the alternators are used in different solutions including the diesel electric propulsion, shaft generator, emergency or harbour applications, thus widening the market landscape. In Germany, inland and ocean shipping lanes are vital transport routes for raw materials entering the country as well as commercial goods exported to Europe and elsewhere. About 95 percent of intercontinental and 62 percent of inter-European commercial transport is done by sea, which helps to alleviate traffic congestion on the roads. Commercial shipping and port operations are critical growth industries for the German economy. The German shipbuilding industry ranks first in Europe and third in the world. German shipyards are experts in the construction of high-tech container vessels and passenger ships. Their designs are spreading across the world and influencing market needs on a global scale, as they have done with container vessels. This is expected to boost the market growth for alternators.
Growth of the automotive industry:
Initiatives from the government for self-sufficiency are attracting the automotive industry growth in developing countries such as India, China and others which in turn has spurred the alternator market as it is used to charge the battery and to power the electrical system in automobiles. Automobile industry is the major contributor of India’s manufacturing GDP in which automotive industry is the largest one. India is the 7th largest producer of automobiles and it is estimated to become the 3rd largest automobile market in the world by 2024. Italy had witnessed about $2.13 M of vehicle sales and registrations as per OICA during 2019. Moreover, According to OICA statistics, Spain has produced about 2,822,355 total vehicles in 2019.
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Alternator Market Challenges:
Slowdown of Alternators challenges:
Alternators are used to power the different electrical systems in the cars and keep the battery charged. Alternators eventually slows down and begins to fail and causes variety of different electrical problems and causes breakdown in the cars. This certain slowdown and breakdown problems in the alternators are analyzed to restrain the growth of the market in the forecast period 2020-2026.
Alternator Market Landscape
Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Alternator Market. Alternator Market top 10 companies include Cummins Generator Technologies, Mecc Alte Alternators Pty. Ltd., Leroy Somer, Inc., Valeo Service, Denso Corporation, Weg SA, Mitshubishi Electric Corporation, Hitachi Automotive Systems, Ltd., HHI, Bosch Group among others.
Acquisitions/Product Launches
In 2020, Leroy Somer, Inc. announced alternator named “TAL 0473” which features a SHUNT excitation system and an R150 regulator as standard delivering a nominal power between 400 and 660 kVA at 50 Hz.
In 2019, Mecc Alte Alternators Pty. Ltd. Launched new X-type series of alternators which features specialist technologies to create a superior range designed and tested to meet the all the industrial challenges.
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#Alternator Market price#Alternator Market share#Alternator Market trends#Alternator Market report#Alternator Market analysis#Alternator Market forecast#Alternator Market#Alternator
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Induction Motors Market- Regional Outlook, Trends, Share, Growth, Demand, Industry Analysis, and Key Player profile by 2030
Induction Motors Market- Regional Outlook, Trends, Share, Growth, Demand, Industry Analysis, and Key Player profile by 2030
The Induction motors Market is growing rapidly, mainly due to the significant superiority of induction motors over other high speed electric motors. Besides, the increasing awareness regarding environmental protection and the low emission rate of induction motors significantly contributes to market growth. Induction motors (asynchronous motors) with its rugged built, lightweight, and cost…
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Wireless Charging for Electric Vehicle Market 2022-2028 Size, Share, Trend, Key Palyers with Products
Wireless Charging for Electric Vehicle Market 2022-2028
A New Market Study, Titled “Wireless Charging for Electric Vehicle Market Upcoming Trends, Growth Drivers and Challenges” has been featured on fusionmarketresearch.
Description
This global study of the Wireless Charging for Electric Vehicle market offers an overview of the existing market trends, drivers, restrictions, and metrics and also offers a viewpoint for important segments. The report also tracks product and services demand growth forecasts for the market. There is also to the study approach a detailed segmental review. A regional study of the global Wireless Charging for Electric Vehicle industry is also carried out in North America, Latin America, Asia-Pacific, Europe, and the Near East & Africa. The report mentions growth parameters in the regional markets along with major players dominating the regional growth.
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This research covers COVID-19 impacts on the upstream, midstream and downstream industries. Moreover, this research provides an in-depth market evaluation by highlighting information on various aspects covering market dynamics like drivers, barriers, opportunities, threats, and industry news & trends. In the end, this report also provides in-depth analysis and professional advices on how to face the post COIVD-19 period.
The research methodology used to estimate and forecast this market begins by capturing the revenues of the key players and their shares in the market. Various secondary sources such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, have been used to identify and collect information useful for this extensive commercial study of the market. Calculations based on this led to the overall market size. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with industry experts such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.
Leading players of Wireless Charging for Electric Vehicle including:
Continental
Bosch
Qualcomm
Toyota Motor
Bombardier
WiTricity
Hella
Evatran Group
Toshiba
ZTE
Elix Wireless
HEVO Power
Mojo Mobility
Momentum Dynamics
Efacec
Tgood Electric
Plugless
BMW
Tesla Motors
Daimler
OLEV Technologies
Nissan
Market split by Type, can be divided into:
Magnetic Power Transfer
Capacitive Power Transfer
Inductive Power Transfer
Market split by Application, can be divided into:
BEV
PHEV
Market split by Sales Channel, can be divided into:
Direct Channel
Distribution Channel
Market segment by Region/Country including:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Spain etc.)
Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
South America (Brazil, Argentina and Colombia etc.)
Middle East & Africa (South Africa, UAE and Saudi Arabia etc.)
Ask Queries @ https://www.fusionmarketresearch.com/enquiry.php/2021-2030-Report-on-Global-Wireless-Charging-for-Electric-Vehicle-Market/68962
Table of Contents
Chapter 1 Wireless Charging for Electric Vehicle Market Overview
1.1 Wireless Charging for Electric Vehicle Definition
1.2 Global Wireless Charging for Electric Vehicle Market Size Status and Outlook (2015-2030)
1.3 Global Wireless Charging for Electric Vehicle Market Size Comparison by Region (2015-2030)
1.4 Global Wireless Charging for Electric Vehicle Market Size Comparison by Type (2015-2030)
1.5 Global Wireless Charging for Electric Vehicle Market Size Comparison by Application (2015-2030)
1.6 Global Wireless Charging for Electric Vehicle Market Size Comparison by Sales Channel (2015-2030)
1.7 Wireless Charging for Electric Vehicle Market Dynamics (COVID-19 Impacts)
1.7.1 Market Drivers/Opportunities
1.7.2 Market Challenges/Risks
1.7.3 Market News (Mergers/Acquisitions/Expansion)
1.7.4 COVID-19 Impacts on Current Market
1.7.5 Post-Strategies of COVID-19 Outbreak
Chapter 2 Wireless Charging for Electric Vehicle Market Segment Analysis by Player
2.1 Global Wireless Charging for Electric Vehicle Sales and Market Share by Player (2018-2020)
2.2 Global Wireless Charging for Electric Vehicle Revenue and Market Share by Player (2018-2020)
2.3 Global Wireless Charging for Electric Vehicle Average Price by Player (2018-2020)
2.4 Players Competition Situation & Trends
2.5 Conclusion of Segment by Player
Chapter 3 Wireless Charging for Electric Vehicle Market Segment Analysis by Type
3.1 Global Wireless Charging for Electric Vehicle Market by Type
3.1.1 Magnetic Power Transfer
3.1.2 Capacitive Power Transfer
3.1.3 Inductive Power Transfer
3.2 Global Wireless Charging for Electric Vehicle Sales and Market Share by Type (2015-2020)
3.3 Global Wireless Charging for Electric Vehicle Revenue and Market Share by Type (2015-2020)
3.4 Global Wireless Charging for Electric Vehicle Average Price by Type (2015-2020)
3.5 Leading Players of Wireless Charging for Electric Vehicle by Type in 2020
3.6 Conclusion of Segment by Type
Chapter 4 Wireless Charging for Electric Vehicle Market Segment Analysis by Application
4.1 Global Wireless Charging for Electric Vehicle Market by Application
4.1.1 BEV
4.1.2 PHEV
4.2 Global Wireless Charging for Electric Vehicle Revenue and Market Share by Application (2015-2020)
4.3 Leading Consumers of Wireless Charging for Electric Vehicle by Application in 2020
4.4 Conclusion of Segment by Application
Continue…
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Network Function Virtualization (NFV) report analyse the market by countries, by type and, by application giving Industry Insights & Opportunity Evaluation.
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Global Motor Driver IC market Key Industry Players, Industry Status,COVID-19 Impact and Global Analysis according to a new research report : Ken Research
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The global Motor Driver IC market was valued at 2957.78 Million USD in 2020 and will grow with a CAGR of 5.54% from 2020 to 2027, based on HNY Research newly published report.
The prime objective of this report” Global and Regional Motor Driver IC Industry Status and Prospects Professional Market Research Report Standard Version 2021-2027” is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches. Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).
Motor drive IC is a chip integrated with CMOS control circuit and DMOS power device, which can be used with the main processor, motor and incremental encoder to form a complete motion control system. It can be used to drive inductive loads such as DC motors, stepper motors and relays. The motor driver chip is controlled by standard TTL logic level signal, with two enabling control terminals, which allow or forbid the device to work without the influence of input signals. There is a logic power input terminal, which enables the internal logic circuit to work under low voltage. Can be connected to the external detection resistance, the change of the feedback to the control circuit.Global Motor Driver IC key players include Texas Instruments, STMicroelectronics, ON Semiconductor, etc. Global top 3 manufacturers hold a share over 33%. Asia-Pacific is the largest market, with a share about 50%, followed by North America, and Europe, both have a share about 39 percent. In terms of product, Brushless Motor Drive IC is the largest segment, with a share over 46%. And in terms of application, the largest application is Consumer Electronics, followed by Electric Tools, Office Supplies, IT and Communication Equipment, Industry and Automotive, Others.
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By Market Verdors:
Texas Instruments
STMicroelectronics
ON Semiconductor
Infineon Technologies
ROHM Semiconductor
Allegro MicroSystems
Toshiba
Panasonic
NXP Semiconductors
Maxim Integrated
Microchip Technology
Diodes Incorporated
Melexis
New Japan Radio
FM
Fortior Tech
ICOFCHINA
Dialog Semiconductor
H&M Semiconductor
By Types:
Brushless Motor Drive IC
Brush Motor Drive IC
Stepper Motor Drive IC
By Applications:
Consumer Electronics
Electric Tools
Office Supplies
IT and Communication Equipment
Industry and Automotive
Key Indicators Analysed
Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the market's competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.
Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
Opportunities and Drivers: Identifying the Growing Demands and New Technology
Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.
Key Reasons to Purchase
To gain insightful analyses of the market and have comprehensive understanding of the global market and its commercial landscape.
Assess the production processes, major issues, and solutions to mitigate the development risk.
To understand the most affecting driving and restraining forces in the market and its impact in the global market.
Learn about the market strategies that are being adopted by leading respective organizations.
To understand the future outlook and prospects for the market.
Besides the standard structure reports, we also provide custom research according to specific requirements.
For More Information, refer to below link:-
Global Motor Driver IC market Research Report
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