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PUBLISHER: IMARC | PRODUCT CODE: 1390650
PUBLISHER: IMARC | PRODUCT CODE: 1390650
Smart Motors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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Abstract
The global smart motors market size reached US$ 2.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.86% during 2022-2028.
A smart motor is a programmable electronic device with adjustable speed and torque. The motor alters the frequency and supply of voltage to replace the thermal overload relay with multiple set points. It consists of an encoder, amplifier, current monitor, dual ethernet port and universal serial bus (USB) interface. The microcontroller detects the load on the shaft and correspondingly adjusts the power extraction to the load. In comparison to the traditionally used motors, smart motors are more energy-efficient, have minimal heat loss and downtime and provide enhanced control over internal cooling. They also minimize the requirement for ancillary components for linear or rotary motion in the connected shafts. As a result, smart motors find extensive applications across various industries, including manufacturing, healthcare, automotive, energy and power.
Smart Motors Market Trends:
The increasing requirement for industrial automation, robotics and efficient material handling solutions is one of the key factors driving the growth of the market. Smart motors are widely used for performing complex operations, predictive maintenance and advanced process control in pumps, compressors, conveyor systems and controllers. Moreover, the widespread adoption of smart motors in hybrid and electronic vehicles (H/EV) is providing a thrust to the market growth. Various technological advancements, such as the integration of connected devices with the Industrial Internet of Things (IIoT) and artificial intelligence solutions, are acting as other growth-inducing factors. These technologies aid in monitoring the motors through smartphones, thereby improving the overall efficiency, predicting operational failures and minimizing premature breakdowns. Other factors, including rapid industrialization, especially in the developing economies, along with the increasing utilization of smart motors for non-destructive testing and pipeline inspection in oil and gas extraction sites, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global smart motors market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, product and application.
Breakup by Component:
Variable Speed Drive
Intelligent Motor Control Center
Motor
Breakup by Product:
24V
18V
36V
48.24V
Breakup by Application:
Automotive
Aerospace and Defense
Oil and Gas
Metal and Mining
Water and Wastewater Treatment
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd, Dunkermotoren GmbH (AMETEK Inc.), Fuji Electric Co. Ltd. (Furukawa Co. Ltd.), General Electric Company, Moog Inc., Nidec Corporation, RobotShop Inc., Rockwell Automation Inc., Schneider Electric SE, Siemens AG and Technosoft SA.
Key Questions Answered in This Report:
- How has the global smart motors market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global smart motors market?
- What are the key regional markets?
- What is the breakup of the market based on the component?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global smart motors market and who are the key players?
- What is the degree of competition in the industry?
Product Code: SR112023A4467
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Smart Motors Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Component
- 6.1 Variable Speed Drive
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Intelligent Motor Control Center
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Motor
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by Product
- 7.1 24V
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 18V
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 36V
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 48.24V
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by Application
- 8.1 Automotive
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Aerospace and Defense
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Oil and Gas
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Metal and Mining
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Water and Wastewater Treatment
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Others
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 ABB Ltd
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Dunkermotoren GmbH (AMETEK Inc.)
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Fuji Electric Co. Ltd. (Furukawa Co. Ltd.)
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 General Electric Company
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Moog Inc.
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.6 Nidec Corporation
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 RobotShop Inc.
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Rockwell Automation Inc.
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 Schneider Electric SE
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 Siemens AG
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 Technosoft SA
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.1 ABB Ltd
Product Code: SR112023A4467
List of Figures
- Figure 1: Global: Smart Motors Market: Major Drivers and Challenges
- Figure 2: Global: Smart Motors Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Smart Motors Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Smart Motors Market: Breakup by Component (in %), 2022
- Figure 5: Global: Smart Motors Market: Breakup by Product (in %), 2022
- Figure 6: Global: Smart Motors Market: Breakup by Application (in %), 2022
- Figure 7: Global: Smart Motors Market: Breakup by Region (in %), 2022
- Figure 8: Global: Smart Motors (Variable Speed Drive) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Smart Motors (Variable Speed Drive) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Smart Motors (Intelligent Motor Control Center) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Smart Motors (Intelligent Motor Control Center) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Smart Motors (Motor) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Smart Motors (Motor) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Smart Motors (24V) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Smart Motors (24V) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Smart Motors (18V) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Smart Motors (18V) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Smart Motors (36V) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Smart Motors (36V) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Smart Motors (48.24V) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Smart Motors (48.24V) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Smart Motors (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Smart Motors (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Smart Motors (Aerospace and Defense) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Smart Motors (Aerospace and Defense) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: Smart Motors (Oil and Gas) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: Smart Motors (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Global: Smart Motors (Metal and Mining) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Global: Smart Motors (Metal and Mining) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Global: Smart Motors (Water and Wastewater Treatment) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Global: Smart Motors (Water and Wastewater Treatment) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Global: Smart Motors (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Global: Smart Motors (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: North America: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: North America: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: United States: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: United States: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: Canada: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: Canada: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: Asia-Pacific: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: Asia-Pacific: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: China: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: China: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: Japan: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: Japan: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: India: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: India: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: South Korea: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: South Korea: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Australia: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Australia: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: Indonesia: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: Indonesia: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: Others: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: Others: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Europe: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Europe: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: Germany: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: Germany: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: France: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: France: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: United Kingdom: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: United Kingdom: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Italy: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Italy: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Spain: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Spain: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Russia: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Russia: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Others: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Others: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Latin America: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Latin America: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 74: Brazil: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 75: Brazil: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 76: Mexico: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 77: Mexico: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 78: Others: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 79: Others: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 80: Middle East and Africa: Smart Motors Market: Sales Value (in Million US$), 2017 & 2022
- Figure 81: Middle East and Africa: Smart Motors Market: Breakup by Country (in %), 2022
- Figure 82: Middle East and Africa: Smart Motors Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 83: Global: Smart Motors Industry: SWOT Analysis
- Figure 84: Global: Smart Motors Industry: Value Chain Analysis
- Figure 85: Global: Smart Motors Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Smart Motors Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Smart Motors Market Forecast: Breakup by Component (in Million US$), 2023-2028
- Table 3: Global: Smart Motors Market Forecast: Breakup by Product (in Million US$), 2023-2028
- Table 4: Global: Smart Motors Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 5: Global: Smart Motors Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Smart Motors Market: Competitive Structure
- Table 7: Global: Smart Motors Market: Key Players
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