As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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.
Market Breakup by Component, Application, and Region:
Key Findings of the Report:
Key Offerings of the Report:
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.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Expert Market Research
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.