Global Industrial Smart Motors Market is valued at approximately USD 1562.29 million in 2022 and is anticipated to grow with a healthy growth rate of more than 5.28% over the forecast period 2023-2030. Industrial Smart Motors are advanced electromechanical devices with integrated sensors, communication abilities, and intelligent controls. The motors monitor parameters such as temperature, vibration, and energy usage, providing real-time data for diagnostics and optimization. The motors also communicate with other devices, seamlessly integrating into industrial automation networks. The industrial smart motors market is driven by factors such as the growing demand for motors with enhanced process control and the emphasis on minimizing downtime. Additionally, the integration of Industrial Internet of Things services has enabled predictive maintenance, improved machine control, increased motor efficiency, and reduced downtime during maintenance, which is expected to further boost the demand for industrial smart motors in the future.
Moreover, the rising adoption of IoT in industrial settings is revolutionizing the way smart motors are utilized, monitored, and maintained. The integration of IoT technologies enables improved efficiency, reduced downtime, energy savings, enhanced safety, and better decision-making capabilities, thereby driving the growth of the Industrial Smart Motors Market. According to the aeXiv.org in 2020, the rapid growth of the Internet of Things (IoT) is expected to result in a significant economic impact, ranging from USD 3.9 trillion to USD 11.1 trillion annually by 2025, as an estimated 28.5 billion network-connected devices become active by 2022. While initially focused on consumer applications, the disruptive nature of IoT has facilitated its adoption in various industrial sectors, leading to the emergence of Industrial Internet of Things (IIoT) technology. Additionally, continuous technological advancements and rising demand for industrial motors provide numerous profitable opportunities for the market players. However, the high cost of continuous predictive maintenance stifling market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Industrial Smart Motors Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the high demand from manufacturing industries in these regions. Also, another factor is need to increase manufacturing plant productivity through the use of improved smart motors and the use of smart manufacturing techniques. North America is expected to grow at fastest growth rate during the forecast period, owing to the integration of smart motors to enhance efficiency and reduce energy costs is driving the demand for smart motors across various market sectors. Furthermore, investments in aerospace and industrial robotics projects in developed regions are expected to boost the demand for smart motors in the coming years.
Major market player included in this report are:
- Somfy Systems, Inc
- Nidec Corporation
- USAutomation LLC
- Schneider Electric SE
- Dunkermotoren GmbH
- Rockwell Automation, Inc.
- Technosoft SA
- Reliance Precision Limited
- HSD SpA
- CG Power & Industrial Solutions Ltd.
Recent Developments in the Market:
- In October 2021, ABB launched the Fusion Air Smart Sensor, a touch-free room sensor with optional control sensors. This sensor monitors temperature, humidity, CO2, and VOCs to enhance indoor air quality and reduce the risk of virus exposure. By sending data to the connected controller, it enables intelligent adjustments to lighting, shading, and HVAC systems, preventing energy waste in unoccupied meeting rooms and optimizing HVAC usage.
Global Industrial Smart Motors Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Offering, End User, Market vertical, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Offering:
By End User:
- Pumps
- Fans
- Compressors
- Others
By Market Vertical:
- Power & Energy
- Manufacturing
- Automotive
- Healthcare
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Million)
- 1.2.1. Industrial Smart Motors Market, by Region, 2020-2030 (USD Million)
- 1.2.2. Industrial Smart Motors Market, by Offering, 2020-2030 (USD Million)
- 1.2.3. Industrial Smart Motors Market, by End User, 2020-2030 (USD Million)
- 1.2.4. Industrial Smart Motors Market, by Market Vertical, 2020-2030 (USD Million)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Industrial Smart Motors Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Industrial Smart Motors Market Dynamics
- 3.1. Industrial Smart Motors Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Integration of IoT enabled services into motor to boost performance & maintenance
- 3.1.1.2. Growing Demand for advanced process controls in industrial motors
- 3.1.2. Market Challenges
- 3.1.2.1. High Cost of Industrial Smart Motors
- 3.1.2.2. Highly Maintenance Charge
- 3.1.3. Market Opportunities
- 3.1.3.1. Advancements in Technology
- 3.1.3.2. Rising demand for industrial motors
Chapter 4. Global Industrial Smart Motors Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Industrial Smart Motors Market, by Offering
- 5.1. Market Snapshot
- 5.2. Global Industrial Smart Motors Market by Offering, Performance - Potential Analysis
- 5.3. Global Industrial Smart Motors Market Estimates & Forecasts by Offering 2020-2030 (USD Million)
- 5.4. Industrial Smart Motors Market, Sub Segment Analysis
- 5.4.1. Products
- 5.4.2. Services
Chapter 6. Global Industrial Smart Motors Market, by End User
- 6.1. Market Snapshot
- 6.2. Global Industrial Smart Motors Market by End User, Performance - Potential Analysis
- 6.3. Global Industrial Smart Motors Market Estimates & Forecasts by End User 2020-2030 (USD Million)
- 6.4. Industrial Smart Motors Market, Sub Segment Analysis
- 6.4.1. Pumps
- 6.4.2. Fans
- 6.4.3. Compressors
- 6.4.4. Others
Chapter 7. Global Industrial Smart Motors Market, by Market Vertical
- 7.1. Market Snapshot
- 7.2. Global Industrial Smart Motors Market by Market Vertical, Performance - Potential Analysis
- 7.3. Global Industrial Smart Motors Market Estimates & Forecasts by Market Vertical 2020-2030 (USD Million)
- 7.4. Industrial Smart Motors Market, Sub Segment Analysis
- 7.4.1. Power & Energy
- 7.4.2. Manufacturing
- 7.4.3. Automotive
- 7.4.4. Healthcare
- 7.4.5. Others
Chapter 8. Global Industrial Smart Motors Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Industrial Smart Motors Market, Regional Market Snapshot
- 8.4. North America Industrial Smart Motors Market
- 8.4.1. U.S. Industrial Smart Motors Market
- 8.4.1.1. Offering breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. End User breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. Market Vertical breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Industrial Smart Motors Market
- 8.5. Europe Industrial Smart Motors Market Snapshot
- 8.5.1. U.K. Industrial Smart Motors Market
- 8.5.2. Germany Industrial Smart Motors Market
- 8.5.3. France Industrial Smart Motors Market
- 8.5.4. Spain Industrial Smart Motors Market
- 8.5.5. Italy Industrial Smart Motors Market
- 8.5.6. Rest of Europe Industrial Smart Motors Market
- 8.6. Asia-Pacific Industrial Smart Motors Market Snapshot
- 8.6.1. China Industrial Smart Motors Market
- 8.6.2. India Industrial Smart Motors Market
- 8.6.3. Japan Industrial Smart Motors Market
- 8.6.4. Australia Industrial Smart Motors Market
- 8.6.5. South Korea Industrial Smart Motors Market
- 8.6.6. Rest of Asia Pacific Industrial Smart Motors Market
- 8.7. Latin America Industrial Smart Motors Market Snapshot
- 8.7.1. Brazil Industrial Smart Motors Market
- 8.7.2. Mexico Industrial Smart Motors Market
- 8.8. Middle East & Africa Industrial Smart Motors Market
- 8.8.1. Saudi Arabia Industrial Smart Motors Market
- 8.8.2. South Africa Industrial Smart Motors Market
- 8.8.3. Rest of Middle East & Africa Industrial Smart Motors Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. Somfy Systems, Inc
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. Nidec Corporation
- 9.3.3. USAutomation LLC
- 9.3.4. Schneider Electric SE
- 9.3.5. Dunkermotoren GmbH
- 9.3.6. Rockwell Automation, Inc.
- 9.3.7. Technosoft SA
- 9.3.8. Reliance Precision Limited
- 9.3.9. HSD SpA
- 9.3.10. CG Power & Industrial Solutions Ltd.
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption