In 2023, the worldwide smart motors market achieved a valuation of US$ 1.9 billion, and it is anticipated to expand at a steady pace of 5.2% between 2023 and 2033, ultimately reaching an impressive value of US$ 3.2 billion by 2033.
Revolutionary variable speed drives (VSDs) in smart motors efficiently adjust rotation speed, conserving 25-30% energy. This transformative technology supports industry growth, paving the way for a promising future.
The market demand for smart motors is anticipated to spike significantly throughout the forecast period as a result of strict restrictions relating to carbon emissions by regulatory organizations such as the US Environmental Protection Agency (EPA) and the European Union.
| Attributes | Details |
|---|---|
| Smart Motors Market Value (2023) | US$ 1.9 billion |
| Smart Motors Market Value (2033) | US$ 3.2 billion |
| Smart Motors Market Growth Rate (2023 to 2033) | 5.2% |
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Based on FMI research findings, the global smart motors market exhibited a valuation of around US$ 1.8 billion in 2022 as compared to the projected value of US$ 1.9 billion in 2023 and eventually reaching around US$ 3.2 billion by 2033.
The market has witnessed significant growth from 2018 to 2022, with increasing demand and technological advancements driving the market expansion. With the continuous integration of smart technologies and the rising need for energy efficiency across various industries, the smart motors industry is predicted to experience significant growth and surpass the achievements of the previous years.
The market is projected to exhibit substantial expansion, presenting key opportunities and demonstrating a notable advancement in terms of market size, revenue, and adoption.
As per FMI, the market for smart motors is predicted to advance at a CAGR of 5.2% from 2023 to 2033.
What are the Growth Prospects for the Smart Motors Industry?
How is the Market Projected to Expand due to the Rising Demand for Industrial Automation, Robotics, and Efficient Material Handling Solutions?
What are the Limitations and Challenges Faced by the Smart Motors Industry?
| Country | The United States of America |
|---|---|
| CAGR (2023 to 2033) | 4.1% |
| Market Size (2033) | US$ 1 billion |
| Country | The United Kingdom |
|---|---|
| CAGR (2023 to 2033) | 4.4% |
| Market Size (2033) | US$ 153.7 million |
| Country | China |
|---|---|
| CAGR (2023 to 2033) | 6.2% |
| Market Size (2033) | US$ 257.3 million |
| Country | Japan |
|---|---|
| CAGR (2023 to 2033) | 4.7% |
| Market Size (2033) | US$ 217.4 million |
| Country | South Korea |
|---|---|
| CAGR (2023 to 2033) | 5.6% |
| Market Size (2033) | US$ 121.3 million |
The supremacy of the smart motors market in the United States of America can be attributed to multiple factors that are contributing to the country’s anticipated growth rate of 4.1% during the forecast period, touching US$ 1 billion in 2033.
The country's strong industrial sector, encompassing manufacturing, automotive, and aerospace industries, drives the demand for smart motors.
The United States has a culture of technological innovation and adoption, with significant investments in research and development. Supportive government initiatives, favorable regulatory frameworks, and incentives for energy efficiency contribute to market dominance.
The presence of established market players, technological expertise, and a large customer base further solidify the United States' position as a leader in the smart motors market.
The market demand for smart motors in the region is expected to be driven further by the increased need to adopt energy-efficient solutions, fueled by stringent environmental regulations set by the US Environmental Protection Agency. These regulations, aimed at reducing carbon emissions, have created a growing necessity for businesses to embrace energy-efficient technologies such as smart motors. As a result, the market for smart motors is anticipated to expand as organizations strive to comply with environmental regulations while optimizing their energy consumption.
The market potential and opportunities for the smart motors industry in the United Kingdom are driven by supportive government initiatives as they play a significant role in creating a conducive environment for the adoption of smart motors.
The United Kingdom government has implemented policies, regulations, and incentives that prioritize energy efficiency and sustainability, thereby promoting the use of smart motors across various sectors. The increasing focus on energy efficiency and carbon emissions reduction drives the demand for smart motors.
There is a growing preference for energy-efficient solutions as organizations and individuals become aware of the importance of energy conservation. Smart motors offer enhanced efficiency, control, and optimization of energy consumption, making them a compelling choice.
As per the FMI study, the market for smart motors in the United Kingdom is anticipated to garner revenue of US$ 153.7 million by 2033, securing a 4.4% CAGR from 2023 to 2033.
The notable industrial manufacturing sector in China is mostly attributed to the country’s projected market share of US$ 257.3 million in 2033. As per FMI, the market for smart motors in China is likely to move forward at 6.2% CAGR in the forthcoming years.
Due to supportive government initiatives like "Make in China 2025," which is likely to encourage the use of smart motors in a variety of industries and thereby increase market demand, the industrial sector in the country is also predicted to experience massive growth.
China's growing emphasis on renewable energy and sustainability has provided a significant boost to the smart motors market. Smart motors are increasingly being utilized in renewable energy generation and distribution systems to optimize efficiency, control, and integration with smart grids.
Principal Consultant
The 24V sub-segment is anticipated progress at a CAGR of 5.1% from 2023 to 2033 on the global level.
Excellent power and reliability are factors that boost the segment's growth. Even while operating under a heavy load, it does so quietly and smoothly, making it suited for heavy loads in a small space. However, it can also be utilized as an industrial-grade continuous usage motor because it offers strong and dependable performance. Additionally, it provides industrial power tools with high torque and economy as well as robotic applications.
The sub-segment supremacy can be attributed mostly to low cost, extended life, high reliability, precise operation, and efficient operation without losses. Moreover, it provides incredibly silent operation and is appropriate for applications that require minimum audible noise.
By the end of the forecast period, it is anticipated that the industrial application segment is likely to capture a huge market share with a CAGR of 5.0% from 2023 to 2033.
Smart motors are extensively utilized in industries due to their remarkable energy efficiency and effectiveness. They find wide-ranging applications in various industrial processes, including compressors, conveyor systems, automation, and material handling.
The growing global focus on regulations concerning carbon emissions has generated a heightened emphasis on the adoption of energy-efficient solutions in industries. As a result, the demand for smart motors in the industrial sector has witnessed an upsurge, driven by the need to reduce energy consumption, propelling the market growth.
The smart motors industry is characterized by intense competition, due to the presence of numerous prominent companies offering smart motor products. The companies present in the market actively engage in strategic partnerships and product advancements as part of their ongoing efforts to expand their market share.
Key Players invest significant resources in fostering strategic collaborations with other industry players, aiming to leverage complementary strengths and enhance their market position. Additionally, these companies prioritize continuous product development, introducing innovative features and technologies to meet evolving customer demands and stay ahead in the competitive landscape.
Key Players in the Market
Developments in the Market:
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The growth potential of the gastrointestinal stent market is 5.2% through 2033.
The rising cost is likely to limit market growth.
The United States is likely to capture a CAGR of 4.1% by 2033.
The market in China will capture a CAGR of 6.2% by 2033.
The United States, the United Kingdom and China may witness significant growth in the market.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product, 2023 to 2033
5.3.1. 24V
5.3.2. 18V
5.3.3. 36V
5.3.4. 48.24V
5.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2023 to 2033
6.3.1. Industrial
6.3.2. Automotive
6.3.3. Consumer Electronics
6.3.4. Aerospace and Defense
6.3.5. Others
6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. MEA
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. U.S.
8.2.1.2. Canada
8.2.2. By Product
8.2.3. By Application
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Product
8.3.3. By Application
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Product
9.2.3. By Application
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Product
9.3.3. By Application
9.4. Key Takeaways
10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. U.K.
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Europe
10.2.2. By Product
10.2.3. By Application
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Product
10.3.3. By Application
10.4. Key Takeaways
11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.1.4. Singapore
11.2.1.5. Thailand
11.2.1.6. Indonesia
11.2.1.7. Australia
11.2.1.8. New Zealand
11.2.1.9. Rest of Asia Pacific
11.2.2. By Product
11.2.3. By Application
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Product
11.3.3. By Application
11.4. Key Takeaways
12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. GCC Countries
12.2.1.2. South Africa
12.2.1.3. Israel
12.2.1.4. Rest of MEA
12.2.2. By Product
12.2.3. By Application
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Product
12.3.3. By Application
12.4. Key Takeaways
13. Key Countries Market Analysis
13.1. U.S.
13.1.1. Pricing Analysis
13.1.2. Market Share Analysis, 2022
13.1.2.1. By Product
13.1.2.2. By Application
13.2. Canada
13.2.1. Pricing Analysis
13.2.2. Market Share Analysis, 2022
13.2.2.1. By Product
13.2.2.2. By Application
13.3. Brazil
13.3.1. Pricing Analysis
13.3.2. Market Share Analysis, 2022
13.3.2.1. By Product
13.3.2.2. By Application
13.4. Mexico
13.4.1. Pricing Analysis
13.4.2. Market Share Analysis, 2022
13.4.2.1. By Product
13.4.2.2. By Application
13.5. Germany
13.5.1. Pricing Analysis
13.5.2. Market Share Analysis, 2022
13.5.2.1. By Product
13.5.2.2. By Application
13.6. U.K.
13.6.1. Pricing Analysis
13.6.2. Market Share Analysis, 2022
13.6.2.1. By Product
13.6.2.2. By Application
13.7. France
13.7.1. Pricing Analysis
13.7.2. Market Share Analysis, 2022
13.7.2.1. By Product
13.7.2.2. By Application
13.8. Spain
13.8.1. Pricing Analysis
13.8.2. Market Share Analysis, 2022
13.8.2.1. By Product
13.8.2.2. By Application
13.9. Italy
13.9.1. Pricing Analysis
13.9.2. Market Share Analysis, 2022
13.9.2.1. By Product
13.9.2.2. By Application
13.10. China
13.10.1. Pricing Analysis
13.10.2. Market Share Analysis, 2022
13.10.2.1. By Product
13.10.2.2. By Application
13.11. Japan
13.11.1. Pricing Analysis
13.11.2. Market Share Analysis, 2022
13.11.2.1. By Product
13.11.2.2. By Application
13.12. South Korea
13.12.1. Pricing Analysis
13.12.2. Market Share Analysis, 2022
13.12.2.1. By Product
13.12.2.2. By Application
13.13. Singapore
13.13.1. Pricing Analysis
13.13.2. Market Share Analysis, 2022
13.13.2.1. By Product
13.13.2.2. By Application
13.14. Thailand
13.14.1. Pricing Analysis
13.14.2. Market Share Analysis, 2022
13.14.2.1. By Product
13.14.2.2. By Application
13.15. Indonesia
13.15.1. Pricing Analysis
13.15.2. Market Share Analysis, 2022
13.15.2.1. By Product
13.15.2.2. By Application
13.16. Australia
13.16.1. Pricing Analysis
13.16.2. Market Share Analysis, 2022
13.16.2.1. By Product
13.16.2.2. By Application
13.17. New Zealand
13.17.1. Pricing Analysis
13.17.2. Market Share Analysis, 2022
13.17.2.1. By Product
13.17.2.2. By Application
13.18. GCC Countries
13.18.1. Pricing Analysis
13.18.2. Market Share Analysis, 2022
13.18.2.1. By Product
13.18.2.2. By Application
13.19. South Africa
13.19.1. Pricing Analysis
13.19.2. Market Share Analysis, 2022
13.19.2.1. By Product
13.19.2.2. By Application
13.20. Israel
13.20.1. Pricing Analysis
13.20.2. Market Share Analysis, 2022
13.20.2.1. By Product
13.20.2.2. By Application
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Product
14.3.3. By Application
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. Rockwell Automation
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.1.5.2. Product Strategy
15.1.1.5.3. Channel Strategy
15.1.2. Moog, Inc
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.2.5.2. Product Strategy
15.1.2.5.3. Channel Strategy
15.1.3. Fuji Electric Co., Ltd.
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.3.5.2. Product Strategy
15.1.3.5.3. Channel Strategy
15.1.4. ABB Ltd
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.4.5.2. Product Strategy
15.1.4.5.3. Channel Strategy
15.1.5. Siemens AG
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.5.5.2. Product Strategy
15.1.5.5.3. Channel Strategy
15.1.6. Schneider Electric SE
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.6.5.2. Product Strategy
15.1.6.5.3. Channel Strategy
15.1.7. General Electric
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.7.5.2. Product Strategy
15.1.7.5.3. Channel Strategy
15.1.8. Dunkermotoren GmbH
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.8.5.2. Product Strategy
15.1.8.5.3. Channel Strategy
15.1.9. Technosoft SA
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.9.5.2. Product Strategy
15.1.9.5.3. Channel Strategy
15.1.10. RobotShop, Inc.
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
15.1.10.5.2. Product Strategy
15.1.10.5.3. Channel Strategy
15.1.11. Roboteq, Inc.
15.1.11.1. Overview
15.1.11.2. Product Portfolio
15.1.11.3. Profitability by Market Segments
15.1.11.4. Sales Footprint
15.1.11.5. Strategy Overview
15.1.11.5.1. Marketing Strategy
15.1.11.5.2. Product Strategy
15.1.11.5.3. Channel Strategy
16. Assumptions & Acronyms Used
17. Research Methodology
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