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Global Smart Motors Market: By Component: Variable Speed Drive, Intelligent Motor Control Centre, Motor; By Application: Industrial, Commercial, Automotive, Aerospace and Defence, Others; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Smart Motors Market Outlook

The global smart motors market stood at a value of around USD 2,408.4 million in 2020. The market is further expected to grow at a CAGR of 6.2% in the forecast period of 2021-2026 to attain USD 3,559.07 million by 2026.

 

Growing Demand for Variable Speed Drive, owing to its Energy Efficiency, to Bolster the Growth of the Smart Motors Industry

Based on component, the variable speed drive segment occupied a significant share in the market and is likely to witness a considerable growth in the forecast period. Variable speed drive (VSD) offers controlled starting current, which saves a significant amount of energy by reducing the power demand at the start. The reduced power line disturbances, controlled acceleration, adjusted operating speed and torque limit, and controlled stopping, among others, are some of the major advantages offered by VSD. VSD controls the pump motor that usually runs less than full speed, which can reduce the energy consumption considerably.

 

Global Smart Motors Market

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Over the forecast period, the growing awareness about energy savings facilitated by VSD is likely to provide impetus to the global smart motors industry. Meanwhile, intelligent motor control centres (iMCC) are anticipated to witness a considerable demand in the forecast period. This can be attributed to the growing awareness about the various advantages offered by iMCCs, which include reduced commissioning and start up time, improved process efficiency, reduced maintenance cost, and reduced downtime, among others. In addition, the fact that iMCC panel can be easily and directly connected to superior automation system is expected to further drive the growth of the segment.

 

North America Accounts for a Significant Share in the Market

The smart motors industry in North America is driven by the growing adoption of smart motors in various industrial processes in order to optimise the functioning and bolster the advanced process control system. Over the forecast period, the anticipated increase in the demand for smart motors from the industrial sector, owing to the growing shift towards automation, is likely to provide impetus to the global smart motors industry in the region. The market is expected to be further aided by the growing focus on energy conservation in countries like the Unites States of America and Canada.

 

Smart Motors: Industry Definition and Segmentation

A smart motor is defined as an intelligent and programmable device that is capable of continuously monitoring and communicating its own health status over the internet. It can adjust the frequency and voltage supply in order to alter the speed and torque of a motor, thereby saving a significant amount of energy.

Based on component, the market is divided into:

  • Variable Speed Drive
  • Intelligent Motor Control Centre
  • Motor

The various applications of smart motors include:

  • Industrial
  • Commercial
  • Automotive
  • Aerospace and Defence
  • Oil and Gas
  • Metal and Mining
  • Water and Wastewater Treatment
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Growing Applications of Smart Motors in the Industrial Sector to Augment the Growth of the Smart Motors Industry

The global smart motors industry is driven by the growing applications of the product in the industrial sector owing to its ability to reduce energy consumption in operations where a significant amount of load conditions is involved. These industrial applications include automated machinery, industrial sewing machines, and stage lighting, among others. Over the forecast period, the growing adoption of automation in various industries, including automotive, aerospace and defence, and oil and gas, among others to enhance operational efficiency through new information, remote monitoring, and control functionalities is expected to aid the market growth. Furthermore, the growing need to reduce labour and installation material costs is likely to provide impetus to the global smart motors industry.

 

Key Industry Players in the Global Smart Motors Market

The report gives a detailed analysis of the following key players in the global smart motors market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • ABB Ltd
  • Siemens AG
  • WEG S.A.
  • Dunkermotoren GmbH
  • Technosoft S.A.
  • Moog Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Application, Region
Breakup by Component Variable Speed Drive, Intelligent Motor Control Centre, Motor
Breakup by Application Industrial, Commercial, Automotive, Aerospace and Defence, Oil and Gas, Metal and Mining, Water and Wastewater Treatment, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered ABB Ltd, Siemens AG, WEG S.A., Dunkermotoren GmbH, Technosoft S.A., Moog Inc., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*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.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Smart Motors Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Smart Motors Historical Market (2016-2020) 
    8.3    Global Smart Motors Market Forecast (2021-2026)
    8.4    Global Smart Motors Market by Component
        8.4.1    Variable Speed Drive
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Intelligent Motor Control Centre
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Motor
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
    8.5    Global Smart Motors Market by Application
        8.5.1    Industrial
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Commercial
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Automotive
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
        8.5.4    Aerospace and Defence
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2016-2020)
            8.5.4.3    Forecast Trend (2021-2026)
        8.5.5    Oil and Gas
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2016-2020)
            8.5.5.3    Forecast Trend (2021-2026)
        8.5.6    Metal and Mining
            8.5.6.1    Market Share
            8.5.6.2    Historical Trend (2016-2020)
            8.5.6.3    Forecast Trend (2021-2026)
        8.5.7    Water and Wastewater Treatment
            8.5.7.1    Market Share
            8.5.7.2    Historical Trend (2016-2020)
            8.5.7.3    Forecast Trend (2021-2026)
        8.5.8    Others
    8.6    Global Smart Motors Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    ABB Ltd
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Siemens AG
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    WEG S.A.
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Dunkermotoren GmbH
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Technosoft S.A.
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Moog Inc.
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Others
13    Industry Events and Developments

 

Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved

 

List of Figures and Tables

1.    Global Smart Motors Market: Key Industry Highlights, 2016 and 2026
2.    Global Smart Motors Historical Market: Breakup by Component (USD Million), 2016-2020
3.    Global Smart Motors Market Forecast: Breakup by Component (USD Million), 2021-2026
4.    Global Smart Motors Historical Market: Breakup by Application (USD Million), 2016-2020
5.    Global Smart Motors Market Forecast: Breakup by Application (USD Million), 2021-2026
6.    Global Smart Motors Historical Market: Breakup by Region (USD Million), 2016-2020
7.    Global Smart Motors Market Forecast: Breakup by Region (USD Million), 2021-2026
8.    North America Smart Motors Historical Market: Breakup by Country (USD Million), 2016-2020
9.    North America Smart Motors Market Forecast: Breakup by Country (USD Million), 2021-2026
10.    Europe Smart Motors Historical Market: Breakup by Country (USD Million), 2016-2020
11.    Europe Smart Motors Market Forecast: Breakup by Country (USD Million), 2021-2026
12.    Asia Pacific Smart Motors Historical Market: Breakup by Country (USD Million), 2016-2020
13.    Asia Pacific Smart Motors Market Forecast: Breakup by Country (USD Million), 2021-2026
14.    Latin America Smart Motors Historical Market: Breakup by Country (USD Million), 2016-2020
15.    Latin America Smart Motors Market Forecast: Breakup by Country (USD Million), 2021-2026
16.    Middle East and Africa Smart Motors Historical Market: Breakup by Country (USD Million), 2016-2020
17.    Middle East and Africa Smart Motors Market Forecast: Breakup by Country (USD Million), 2021-2026
18.    Global Smart Motors Market Structure

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