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The smart motors industry is driven by the growing applications of the product in various sectors, including industrial, oil and gas, aerospace and defence, and wastewater treatment, among others. These sectors require variable speed drive and intelligent motor control centre to reduce energy consumption and save cost. Smart motors could play a significant role in industries where a variety of load conditions are involved. These motors can adjust their torque and frequency, which can save a machine from crashing, thereby making the heavy load processes efficient.
In November 2020, ABB Ltd (NYSE: ABB) launched a series of high-output motors in India. This launch is likely to bolster the company’s portfolio and enhance its reach in India, where the industrial sector is continuously on the rise. The new range of M3BP motors, that is, low voltage IEC induction motors introduced by the company is designed to reduce the overall size of the equipment and save energy and total cost of the ownership. This range also features ABB Ability smart sensors, which will enable the customers to achieve remote control monitoring. Thus, new product launches with advanced features by the manufacturers are expected to favour the smart motors industry growth in the forecast period.
In terms of region, North America is likely to account for a significant share in the market, owing to the rising demand for smart motors in wastewater treatment applications in the United States and Canada. The various advantages offered by smart motors such as precise process control, reduced risk of clogging, substantial reductions in energy consumption, and comprehensive data reporting are responsible for enhancing the product demand in the segment.
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The major players in the global smart motors market are ABB Ltd, Siemens AG, WEG S.A., Dunkermotoren GmbH, Technosoft S.A., and Moog Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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