The global smart motors market is expected to grow at a CAGR of 6.7% during the forecast period 2021-2027. Rising concern for saving energy costs by improving energy efficiency has resulted in a surge in the adoption of smart motors in various high energy-intensive industries such as automotive, industrial manufacturing, consumer electronics, aerospace & defense, oil & gas, mining, among others.
The variable speed drive (VSDs) in smart motor controls the frequency of electric power supplied to the smart motors, and thus, it adjusts the rotation speed to the required output, which, in turn, can save around 25-30% of energy, thus boosting the industry growth in the coming years.
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Growing stringent regulations pertaining to carbon emissions by regulatory agencies such as the US Environmental Protection Agency (EPA) and the European Union is projected to fuel the market demand for smart motors significantly during the review period.
The COVID-19 outbreak had a negative impact on the smart motors market. Smart motors find widespread applications in automotive, industrial, aerospace & defense, consumer electronics, mining, and oil & gas, among others. The weakening market demand for smart motors from end-use industries has resulted in a decline in the use of smart motors in pumps, mills, and compressors.
Growth Drivers
The rising cost of fossil fuels, mainly owing to intense competition, has necessitated the use of energy-efficient solutions. This has resulted in an augmented use of smart motors in the industrial sector in applications such as mixers, extruders, simple pumps, fans, compressors, vibrator motors, simple wire, and drawing machines to integrate smart motor controllers in an automation process helps to conserve energy. Additionally, intelligent motors control (IMC) monitors the load condition of the motors and adjusts the voltage input accordingly, thereby offering energy efficiency of up to 3-5%.
Furthermore, soaring carbon emissions and the growing need to reduce dependence on fossil fuels have led to a rising focus on implementing emission control standards and framing policies to encourage the adoption of electric vehicles across the globe which in turn propels the intelligent motors market development. Also, growing emphasis on the adoption of smart, flexible, and integrated solutions by the automobile players, particularly by electric vehicle manufacturers, is likely to drive the market demand for smart motors control systems in automobiles.
Report Segmentation
By Component
Variable Speed Drive
Intelligent Motor Control Center
Motor
By Product
24V
18V
36V
48V and above
By Application
Industrial
Commercial
Automotive
Consumer Electronics
Aerospace & Defense
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Competitive Insight
Major players operating in the global market are Rockwell Automation, Inc., Moog Animatics, Siemens AG, Robotshop, Inc., General Electric Co., Roboteq, Inc., ABB Ltd., FUJI Electric Co. Ltd., Technosoft, and Schneider Electric SE.
Table of Content
Chapter 1: Global Smart Motors Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Smart Motors market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Smart Motors Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Smart Motors market Size Forecast (2023-2032).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Smart Motors market revenues on a global, regional, and country level, projecting trends until 2032. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Smart Motors market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Smart Motors market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Smart Motors business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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