Loading...
Cart
0

Global Industrial Smart Motors Market Expected to Reach $1,809.1 Million by 2025

 
 

quote The versatile benefits of industrial smart motors such as predictive maintenance, reduced downtime during service & maintenance activities, improved efficiency, and superior machine control increase their popularity. Moreover, emphasis on improving energy efficiency and reducing downtime for maintenance & services of equipment and machineries by using smart motors are expected to fuel the demand for industrial smart motors during the forecast period. Thus, industrial smart motors are projected to provide numerous lucrative business opportunities for the market players in the coming years. quote

Ankush Yadav

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research titled, Industrial Smart Motors Market by Offering, End User, and Market Vertical: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,the "industrial smart motors market was valued at $1,207.86 million in 2017 and is expected to reach $1,809.11 million by 2025, registering a CAGR of 5.28% from 2018 to 2025." Asia-Pacific dominated the industrial smart motors market accounting for around two-fifths share of the total revenue by region.

Industrial smart motors are specialized motors that offer superior performance through integration of internet of things (IoT) enabled services that include superior machine control, predictive maintenance, and reduced downtime during maintenance. Smart motors have witnessed a rise in their scope of application across different industry verticals due to integration of sensors, microprocessor chips, and software programs. For instance, they find application in discrete automation, materials handling, industrial machineries & equipment, smart manufacturing, and mechanical power transmission-based equipment among others. As a result, the industrial smart motors have gained traction in the recent years and are expected to provide numerous profitable opportunities for the manufacturers during the forecast period.

The pumps segment accounted for almost one-fifth share of the global smart industrial motors market based on end user due to high demand for efficient and superior machine control of motors. Moreover, increase in demand for reducing downtime during maintenance and service activities is expected to drive the growth of smart motors across different market verticals. Thus, the pumps segment is expected to maintain its dominant position during the forecast period and subsequently provide numerous profitable opportunities for the market players. However, growth in popularity of application-specific equipment and machinery has gained traction and is projected to propel the demand for smart motors in conveyor systems, process automation, smart manufacturing, and OEMs (original equipment manufacturers) related equipment among others.

The manufacturing industry segment accounted for almost one-fourth of the total market share in the industrial smart motors market due to rise in adoption of smart manufacturing practices to low downtime and improved efficiency of the plant machineries by leading manufacturers over the past few years. Further, the growing popularity of IoT (Internet of Things) enabled services in industrial machineries as well as equipment is gaining traction among manufacturers for improving their plant efficiencies and preventing unanticipated equipment failures.

Key findings of theIndustrial Smart Motors Market:

  • In terms of market share, the pumps segment generated around one-fifth of the total revenue in 2017 and is expected to grow at a CAGR of 5.11% during the forecast period.
  • The automotive industry segment is anticipated to grow at a CAGR of 5.13% from 2018 to 2025 and reach $457.34 million by 2025.
  • Asia-Pacific is expected to witness high CAGR growth of 5.49% from 2018 to 2025.The key players in the global industrial smart motors market are focusing on new product development to gain a strong foothold in the market.

The key players profiled in the report include CG, Dunkermotoren GmbH, HSD SpA, Nidec Corporation, Reliance Precision Limited, Rockwell Automation, Schneider Electric, Somfy Systems Inc., TECHNOSOFT SA, and USAutomation.

 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Abhinav Rautela
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
mediacommunications@alliedanalytics.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote Industrial Smart Motors Market by Offering (Products and Services), End User (Pumps, Fans, Compressors, and Others), and Market Vertical (Power & Energy, Manufacturing, Automotive, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025 quote

View Report
 
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Global Industrial Smart Motors Market"
Purchase Enquiry