Global Smart Motors Market Size, Share & Trends Analysis Report By End-use (Industrial, Automotive, Consumer Electronics, Aerospace & Defense, and Others), By Product, By Regional Outlook and Forecast, 2023 - 2030
The Global Smart Motors Market size is expected to reach $3.3 billion by 2030, rising at a market growth of 6.7% CAGR during the forecast period.
The increasing shift towards electric vehicles is driving the adoption of smart motor technologies in automotive applications. Therefore, the Automotive segment acquired $459.5 million revenue in 2022. Electric vehicles rely on electric motors for propulsion, and smart motor technologies such as variable frequency drives (VFDs), and motor control algorithms are essential for optimizing energy efficiency, performance, and range in electric vehicle platforms.
Advancements in motor control technologies serve as a pivotal driver propelling the market forward. These innovations range from variable frequency drives to sophisticated field-oriented control (FOC) algorithms. Therefore, the ongoing advancements in motor control technologies propel the market’s growth.
Additionally, predictive maintenance allows organizations to schedule maintenance activities only when needed, reducing unnecessary downtime and maintenance costs. Smart motors with sensors can provide real-time data about their operational health, enabling predictive maintenance strategies. Hence, the growing emphasis on predictive maintenance drives the market’s growth.
However, Smart motor technology involves advanced sensors, and communication infrastructure, which require substantial initial investment to develop, manufacture, and implement. Developing smart motor technologies involves extensive research and development efforts to create innovative solutions for efficient motor control and predictive maintenance. In conclusion, high initial investment costs are hampering the market’s growth.
By End-use Analysis
On the basis of end-use, the market is segmented into industrial, consumer electronics, automotive, aerospace & defense, and others. In 2022, the automotive segment attained a noteworthy 23.3% revenue share in the market. It plays a critical role in electric vehicles (EVs) and hybrid vehicles, powering propulsion systems, electric drivetrains, and ancillary components such as power steering, braking, and HVAC systems.
By Product Analysis
Based on product, the market is divided into 18V, 24V, 36V, and 48V & above. In 2022, the 24V segment acquired 39.2% revenue share in the market. The 24V segment is well-suited for low-power applications across various industries, including automotive, robotics, home automation, and IoT devices. Therefore, the compatibility with low-power applications is driving the segment’s growth.
By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region generated 34.6% revenue share in the market. Smart motors are integral to infrastructure projects, enabling efficient operation, automation, and remote monitoring of critical assets such as power plants, transportation systems, and smart buildings.
List of Key Companies Profiled
- Rockwell Automation, Inc.
- Moog, Inc.
- Fuji Electric Co. Ltd.
- ABB Ltd.
- Siemens AG
- Schneider Electric SE
- General Electric Company
- Dunkermotoren GmbH (Ametek, Inc.)
- RobotShop Inc.
- Roboteq, Inc. (Nidec Motor Corporation)
By End-use
- Industrial
- Automotive
- Consumer Electronics
- Aerospace & Defense
- Others
- 24V
- 48V & above
- 18V
- 36V
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Global Smart Motors Market, by End-use
- 1.4.2 Global Smart Motors Market, by Product
- 1.4.3 Global Smart Motors Market, by Geography
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- 3.3 Porter Five Forces Analysis
- Chapter 4. Global Smart Motors Market, by End-use
- 4.1 Global Industrial Market, by Region
- 4.2 Global Automotive Market, by Region
- 4.3 Global Consumer Electronics Market, by Region
- 4.4 Global Aerospace & Defense Market, by Region
- 4.5 Global Others Market, by Region
- Chapter 5. Global Smart Motors Market, by Product
- 5.1 Global 24V Market, by Region
- 5.2 Global 48V & above Market, by Region
- 5.3 Global 18V Market, by Region
- 5.4 Global 36V Market, by Region
- Chapter 6. Global Smart Motors Market, by Region
- 6.1 North America Smart Motors Market
- 6.1.1 North America Smart Motors Market, by End-use
- 6.1.1.1 North America Industrial Market, by Country
- 6.1.1.2 North America Automotive Market, by Country
- 6.1.1.3 North America Consumer Electronics Market, by Country
- 6.1.1.4 North America Aerospace & Defense Market, by Country
- 6.1.1.5 North America Others Market, by Country
- 6.1.2 North America Smart Motors Market, by Product
- 6.1.2.1 North America 24V Market, by Country
- 6.1.2.2 North America 48V & above Market, by Country
- 6.1.2.3 North America 18V Market, by Country
- 6.1.2.4 North America 36V Market, by Country
- 6.1.3 North America Smart Motors Market, by Country
- 6.1.3.1 US Smart Motors Market
- 6.1.3.1.1 US Smart Motors Market, by End-use
- 6.1.3.1.2 US Smart Motors Market, by Product
- 6.1.3.2 Canada Smart Motors Market
- 6.1.3.2.1 Canada Smart Motors Market, by End-use
- 6.1.3.2.2 Canada Smart Motors Market, by Product
- 6.1.3.3 Mexico Smart Motors Market
- 6.1.3.3.1 Mexico Smart Motors Market, by End-use
- 6.1.3.3.2 Mexico Smart Motors Market, by Product
- 6.1.3.4 Rest of North America Smart Motors Market
- 6.1.3.4.1 Rest of North America Smart Motors Market, by End-use
- 6.1.3.4.2 Rest of North America Smart Motors Market, by Product
- 6.2 Europe Smart Motors Market
- 6.2.1 Europe Smart Motors Market, by End-use
- 6.2.1.1 Europe Industrial Market, by Country
- 6.2.1.2 Europe Automotive Market, by Country
- 6.2.1.3 Europe Consumer Electronics Market, by Country
- 6.2.1.4 Europe Aerospace & Defense Market, by Country
- 6.2.1.5 Europe Others Market, by Country
- 6.2.2 Europe Smart Motors Market, by Product
- 6.2.2.1 Europe 24V Market, by Country
- 6.2.2.2 Europe 48V & above Market, by Country
- 6.2.2.3 Europe 18V Market, by Country
- 6.2.2.4 Europe 36V Market, by Country
- 6.2.3 Europe Smart Motors Market, by Country
- 6.2.3.1 Germany Smart Motors Market
- 6.2.3.1.1 Germany Smart Motors Market, by End-use
- 6.2.3.1.2 Germany Smart Motors Market, by Product
- 6.2.3.2 UK Smart Motors Market
- 6.2.3.2.1 UK Smart Motors Market, by End-use
- 6.2.3.2.2 UK Smart Motors Market, by Product
- 6.2.3.3 France Smart Motors Market
- 6.2.3.3.1 France Smart Motors Market, by End-use
- 6.2.3.3.2 France Smart Motors Market, by Product
- 6.2.3.4 Russia Smart Motors Market
- 6.2.3.4.1 Russia Smart Motors Market, by End-use
- 6.2.3.4.2 Russia Smart Motors Market, by Product
- 6.2.3.5 Spain Smart Motors Market
- 6.2.3.5.1 Spain Smart Motors Market, by End-use
- 6.2.3.5.2 Spain Smart Motors Market, by Product
- 6.2.3.6 Italy Smart Motors Market
- 6.2.3.6.1 Italy Smart Motors Market, by End-use
- 6.2.3.6.2 Italy Smart Motors Market, by Product
- 6.2.3.7 Rest of Europe Smart Motors Market
- 6.2.3.7.1 Rest of Europe Smart Motors Market, by End-use
- 6.2.3.7.2 Rest of Europe Smart Motors Market, by Product
- 6.3 Asia Pacific Smart Motors Market
- 6.3.1 Asia Pacific Smart Motors Market, by End-use
- 6.3.1.1 Asia Pacific Industrial Market, by Country
- 6.3.1.2 Asia Pacific Automotive Market, by Country
- 6.3.1.3 Asia Pacific Consumer Electronics Market, by Country
- 6.3.1.4 Asia Pacific Aerospace & Defense Market, by Country
- 6.3.1.5 Asia Pacific Others Market, by Country
- 6.3.2 Asia Pacific Smart Motors Market, by Product
- 6.3.2.1 Asia Pacific 24V Market, by Country
- 6.3.2.2 Asia Pacific 48V & above Market, by Country
- 6.3.2.3 Asia Pacific 18V Market, by Country
- 6.3.2.4 Asia Pacific 36V Market, by Country
- 6.3.3 Asia Pacific Smart Motors Market, by Country
- 6.3.3.1 China Smart Motors Market
- 6.3.3.1.1 China Smart Motors Market, by End-use
- 6.3.3.1.2 China Smart Motors Market, by Product
- 6.3.3.2 Japan Smart Motors Market
- 6.3.3.2.1 Japan Smart Motors Market, by End-use
- 6.3.3.2.2 Japan Smart Motors Market, by Product
- 6.3.3.3 India Smart Motors Market
- 6.3.3.3.1 India Smart Motors Market, by End-use
- 6.3.3.3.2 India Smart Motors Market, by Product
- 6.3.3.4 South Korea Smart Motors Market
- 6.3.3.4.1 South Korea Smart Motors Market, by End-use
- 6.3.3.4.2 South Korea Smart Motors Market, by Product
- 6.3.3.5 Singapore Smart Motors Market
- 6.3.3.5.1 Singapore Smart Motors Market, by End-use
- 6.3.3.5.2 Singapore Smart Motors Market, by Product
- 6.3.3.6 Malaysia Smart Motors Market
- 6.3.3.6.1 Malaysia Smart Motors Market, by End-use
- 6.3.3.6.2 Malaysia Smart Motors Market, by Product
- 6.3.3.7 Rest of Asia Pacific Smart Motors Market
- 6.3.3.7.1 Rest of Asia Pacific Smart Motors Market, by End-use
- 6.3.3.7.2 Rest of Asia Pacific Smart Motors Market, by Product
- 6.4 LAMEA Smart Motors Market
- 6.4.1 LAMEA Smart Motors Market, by End-use
- 6.4.1.1 LAMEA Industrial Market, by Country
- 6.4.1.2 LAMEA Automotive Market, by Country
- 6.4.1.3 LAMEA Consumer Electronics Market, by Country
- 6.4.1.4 LAMEA Aerospace & Defense Market, by Country
- 6.4.1.5 LAMEA Others Market, by Country
- 6.4.2 LAMEA Smart Motors Market, by Product
- 6.4.2.1 LAMEA 24V Market, by Country
- 6.4.2.2 LAMEA 48V & above Market, by Country
- 6.4.2.3 LAMEA 18V Market, by Country
- 6.4.2.4 LAMEA 36V Market, by Country
- 6.4.3 LAMEA Smart Motors Market, by Country
- 6.4.3.1 Brazil Smart Motors Market
- 6.4.3.1.1 Brazil Smart Motors Market, by End-use
- 6.4.3.1.2 Brazil Smart Motors Market, by Product
- 6.4.3.2 Argentina Smart Motors Market
- 6.4.3.2.1 Argentina Smart Motors Market, by End-use
- 6.4.3.2.2 Argentina Smart Motors Market, by Product
- 6.4.3.3 UAE Smart Motors Market
- 6.4.3.3.1 UAE Smart Motors Market, by End-use
- 6.4.3.3.2 UAE Smart Motors Market, by Product
- 6.4.3.4 Saudi Arabia Smart Motors Market
- 6.4.3.4.1 Saudi Arabia Smart Motors Market, by End-use
- 6.4.3.4.2 Saudi Arabia Smart Motors Market, by Product
- 6.4.3.5 South Africa Smart Motors Market
- 6.4.3.5.1 South Africa Smart Motors Market, by End-use
- 6.4.3.5.2 South Africa Smart Motors Market, by Product
- 6.4.3.6 Nigeria Smart Motors Market
- 6.4.3.6.1 Nigeria Smart Motors Market, by End-use
- 6.4.3.6.2 Nigeria Smart Motors Market, by Product
- 6.4.3.7 Rest of LAMEA Smart Motors Market
- 6.4.3.7.1 Rest of LAMEA Smart Motors Market, by End-use
- 6.4.3.7.2 Rest of LAMEA Smart Motors Market, by Product
- Chapter 7. Company Profiles
- 7.1 Rockwell Automation, Inc.
- 7.1.1 Company Overview
- 7.1.2 Financial Analysis
- 7.1.3 Segmental and Regional Analysis
- 7.1.4 Research & Development Expenses
- 7.1.5 Recent strategies and developments:
- 7.1.5.1 Acquisition and Mergers:
- 7.1.6 SWOT Analysis
- 7.2 Moog, Inc.
- 7.2.1 Company Overview
- 7.2.2 Financial Analysis
- 7.2.3 Segmental and Regional Analysis
- 7.2.4 Research & Development Expense
- 7.2.5 SWOT Analysis
- 7.3 Fuji Electric Co. Ltd.
- 7.3.1 Company Overview
- 7.3.2 Financial Analysis
- 7.3.3 Segmental and Regional Analysis
- 7.3.4 Research & Development Expense
- 7.3.5 SWOT Analysis
- 7.4 ABB Ltd.
- 7.4.1 Company Overview
- 7.4.2 Financial Analysis
- 7.4.3 Segmental and Regional Analysis
- 7.4.4 Research & Development Expense
- 7.4.5 SWOT Analysis
- 7.5 Siemens AG
- 7.5.1 Company Overview
- 7.5.2 Financial Analysis
- 7.5.3 Segmental and Regional Analysis
- 7.5.4 Research & Development Expense
- 7.5.5 SWOT Analysis
- 7.6 Schneider Electric SE
- 7.6.1 Company Overview
- 7.6.2 Financial Analysis
- 7.6.3 Segmental and Regional Analysis
- 7.6.4 Research & Development Expense
- 7.6.5 SWOT Analysis
- 7.7 General Electric Company
- 7.7.1 Company Overview
- 7.7.2 Financial Analysis
- 7.7.3 Segmental and Regional Analysis
- 7.7.4 Research & Development Expense
- 7.7.5 SWOT Analysis
- 7.8 Dunkermotoren GmbH (Ametek, Inc.)
- 7.8.1 Company Overview
- 7.8.2 Financial Analysis
- 7.8.3 Segmental and Regional Analysis
- 7.8.4 Research & Development Expenses
- 7.8.5 SWOT Analysis
- 7.9 RobotShop Inc.
- 7.9.1 Company Overview
- 7.9.2 SWOT Analysis
- 7.10. Roboteq, Inc. (Nidec Motor Corporation)
- 7.10.1 Company Overview
- 7.10.2 SWOT Analysis
- Chapter 8. Winning imperatives of Smart Motors Market
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