Smart Motors Market Size, Trends and Insights By Product (18V, 24V, 36V, 48.24V), By Application (Commercial, Industrial, Automotive, Oil & Gas, Water and Wastewater, Aerospace & Defense, Metal and Mining, Applications), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030


Report Code: CMI20107

Published Date: October 2022

Pages: 220+

Category: Semiconductors & Electronics

Report Snapshot

CAGR: 6.5%
2.6 B
2021
2.75 B
2022
4 B
2030

Source: CMI

Study Period: 2022-2030
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • ABB Ltd
  • Fuji Electric Co. Ltd. (Furukawa Co. Ltd.)
  • Dunkermotoren GmbH (AMETEK Inc.)
  • Nidec Corporation
  • Others

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Reports Description

The increased demand for energy-efficient motors is driving the market’s growth.

According to Custom Market Insights (CMI), The Global Smart Motors Market size was estimated at USD 2.6 Billion in 2021 and is expected to reach USD 2.75 billion in 2022 and is expected to hit around USD 4 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2030. 

The report examines the Smart Motors market’s drivers and restraints and their impact analysis. Also, the report mentions global opportunities prevailing in the Smart Motors market.

 Smart Motors Market (By Product )

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Smart Motors Market: Overview

An intelligent motor transforms the battery’s electrical energy into rotational energy. The market is expanding due to the application of this rotational energy to turn wheels, close claws, operate pumps, and other devices. The market is thoroughly evaluated in studying the global smart motors industry. The research comprehensively analyzes the market’s key segments, trends, drivers, restraints, competitive environment, and other essential elements.

Smart Motors Market: COVID – 19 Impact Analysis

The end-use industries for smart motors, including mining, automotive, oil & gas, industrial, wastewater treatment, etc., saw a steep decline in growth during the COVID-19 pandemic. As a result, the market for intelligent motors was also impacted. Furthermore, the industries were forced to temporarily close their doors due to labour shortages and difficulties in manufacturing. As a result, the demand for end users also decreased, which hindered the market expansion for intelligent motors. The COVID-19 pandemic has, however, created new opportunities for the market for intelligent motors as organizations are heavily converting to automation. As a result, it will help the market for smart engines even in the future.

Smart Motors Market: Growth Drivers

The increasing demand for robotics, industrial automation, and effective material handling solutions is anticipated to fuel market expansion.

The rising demand for industrial automation, robots, and effective material handling solutions are one of the main factors fueling market demand. Pumps, conveyor systems, compressors, and controllers frequently use smart motors to carry out complex operations, preventive maintenance, and enhanced process control. Additionally, the market is expanding due to the rising use of intelligent engines in hybrid and electric vehicles (H/EV).

Smart Motors Market

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Technological advancements like incorporating connected devices with the Industrial Internet of Things and artificial intelligence solutions are further growth-promoting factors. These innovations support motor monitoring through mobile devices, increasing general effectiveness, predicting operating issues, and avoiding untimely failures. Other factors are anticipated to propel the market, including growing industrialization, especially in developing countries, and the growing use of intelligent motors for pipeline inspection and non-destructive testing at oil & gas extraction sites.

Technology advances are expected to fuel the development of more effective and environmentally friendly motors.

Energy-efficient motors were created due to the implementation of government programs like minimum energy performance standards (MEPS) in numerous nations, which hastened the market’s expansion. As fuel-based motors pollute the environment, which has led to demand for the market, there is a decrease in pollution with the introduction of new goods and technology in intelligent motors. Therefore, the need for eco-friendly motors will expand in response to the rising demand for energy consumption reduction.

A highly programmable digital motor that can be controlled and programmed to fit the needs of the application is known as an intelligent motor. It is simple to save information about its speed, and it can change it immediately with the click of a button or after a predetermined period. Encoders, amplifiers, motor drivers, communication buses, dual-port Ethernet ports, USB programming interfaces, remote terminal units (RTU), half-duplex communication ports, and IOs are all components of these intelligent motors. The innovative motor’s microcontroller senses the presence of a load on the shaft and modifies the power extraction to the pack as necessary.

Smart Motors Market: Segmentation Analysis

Our research scope segments the Smart Motors market into products and applications. Based on the product, the market is divided into 24V, 18V, 36V, and 48V. The 24V segment held the most significant market share in 2021 and is anticipated to expand at a sizable CAGR over the anticipated period. The 24V smart motors are highly dependable and powerful. It has a longer shelf life than conventional motors since it has fewer moving parts. As a result, it can function longer without requiring significant repairs. As a result, it requires less upkeep. Along the forecast timeline, it is anticipated to fuel demand for the 24V Smart Motor Product segment.

Report Scope

Feature of the Report Details
Market Size in 2021 USD 2.6 Billion
Projected Market Size in 2030 USD 4 Billion
Market Size in 2022 USD 2.75 Billion
CAGR Growth Rate 6.5% CAGR
Base Year 2021
Forecast Period 2022-2030
Prominent Players ABB Ltd, Fuji Electric Co. Ltd. (Furukawa Co. Ltd.), Dunkermotoren GmbH (AMETEK Inc.), Nidec Corporation, General Electric Company, Moog Inc., RobotShop Inc., Siemens AG , Rockwell Automation Inc., Schneider Electric SE, Technosoft SA, and Others
Key Segment By Product, Application, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Key Insights: 

  • As per the analysis shared by our research analyst, the Smart Motors market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2022-2030).
  • In terms of revenue, the Smart Motors market size was valued at around USD 2.6 billion in 2021 and is projected to reach USD 4 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
  • The Smart Motors market research offers a comprehensive analysis of the present market and projections through 2020–2030 to help find possibilities to profit from the existing market.
  • The study includes data on the significant market drivers, challenges, and opportunities and their effects.
  • The study elaborates on the SWOT analysis and Porter’s Five Forces model.
  • The market study’s value chain analysis gives a comprehensive picture of the stakeholder’s responsibilities.

Recent Development

  • 2021: WEG expanded its line of variable-speed drives with the CFW900. A cutting-edge VSD for driving and managing three-phase induction and permanent magnet motors is the CFW900. Due to its high overload capacity can handle many applications by providing good static and dynamic performance and high precision in torque, speed, and position control.
  • 2019: To improve overall IAQ and reduce the danger of virus exposure, ABB launched the FusionAir Smart Sensor, a touch-free room sensor with optional room control sensors that can monitor temperature, humidity, carbon dioxide (CO2), and volatile organic compounds (VOCs). Lights are not left on in empty meeting rooms thanks to the FusionAir Smart Sensor’s data transmission to the connected controller, which prompts it to react and make intelligent adjustments to lighting, shade, and HVAC. When not in use, that pricey HVAC system is turned off.

Regional Landscape

The Asia Pacific region is estimated to dominate the market for intelligent motors in 2021. The expanding adoption of automation throughout the region’s numerous end-user sectors presents the examined market providers with enormous development potential. In addition, the region’s energy concerns are raising the adoption of low-voltage electrical equipment and spurring countless businesses to create energy-efficient and portable electrical devices, further boosting the market for smart motors.

Smart Motors Market (trends by region)

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Competitive Landscape

Because several significant companies are present in the market selling the products, the intelligent motors market is very competitive. These businesses continually invest heavily in product development and strategic alliances to increase their market share.

Prominent Players:

  • ABB Ltd
  • Fuji Electric Co. Ltd. (Furukawa Co. Ltd.)
  • Dunkermotoren GmbH (AMETEK Inc.)
  • Nidec Corporation
  • General Electric Company
  • Moog Inc.
  • RobotShop Inc.
  • Siemens AG
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Technosoft SA

The global Smart Motors market is segmented as follows:

By Product

  • 18V
  • 24V
  • 36V
  • 48.24V

By Application

  • Commercial
  • Industrial
  • Automotive
  • Oil & Gas
  • Water and Wastewater
  • Aerospace & Defense
  • Metal and Mining

On the basis of Geography

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Smart Motors Market, (2022 – 2030) (USD Billion)
    • 2.2 Global Smart Motors Market : snapshot
  • Chapter 3. Global Smart Motors Market – Industry Analysis
    • 3.1 Smart Motors Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 The increasing demand for robotics
      • 3.2.2 Industrial automation
      • 3.2.3 Effective and environmentally friendly motors.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Product
      • 3.7.2 Market attractiveness analysis By Application
  • Chapter 4. Global Smart Motors Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Smart Motors Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Smart Motors Market – Product Analysis
    • 5.1 Global Smart Motors Market overview: By Product
      • 5.1.1 Global Smart Motors Market share, By Product, 2021 and 2030
    • 5.2 18V
      • 5.2.1 Global Smart Motors Market by 18V, 2022 – 2030 (USD Billion)
    • 5.3 24V
      • 5.3.1 Global Smart Motors Market by 24V, 2022 – 2030 (USD Billion)
    • 5.4 36V
      • 5.4.1 Global Smart Motors Market by 36V, 2022 – 2030 (USD Billion)
    • 5.5 48.24V
      • 5.5.1 Global Smart Motors Market by 48.24V, 2022 – 2030 (USD Billion)
  • Chapter 6. Global Smart Motors Market – Application Analysis
    • 6.1 Global Smart Motors Market overview: By Application
      • 6.1.1 Global Smart Motors Market share, By Application, 2021 and 2030
    • 6.2 Commercial
      • 6.2.1 Global Smart Motors Market by Commercial, 2022 – 2030 (USD Billion)
    • 6.3 Industrial
      • 6.3.1 Global Smart Motors Market by Industrial, 2022 – 2030 (USD Billion)
    • 6.4 Automotive
      • 6.4.1 Global Smart Motors Market by Automotive, 2022 – 2030 (USD Billion)
    • 6.5 Oil & Gas
      • 6.5.1 Global Smart Motors Market by Oil & Gas, 2022 – 2030 (USD Billion)
    • 6.6 Water and Wastewater
      • 6.6.1 Global Smart Motors Market by Water and Wastewater, 2022 – 2030 (USD Billion)
    • 6.7 Aerospace & Defense
      • 6.7.1 Global Smart Motors Market by Aerospace & Defense, 2022 – 2030 (USD Billion)
    • 6.8 Metal and Mining
      • 6.8.1 Global Smart Motors Market by Metal and Mining, 2022 – 2030 (USD Billion)
  • Chapter 7. Smart Motors Market – Regional Analysis
    • 7.1 Global Smart Motors Market Regional Overview
    • 7.2 Global Smart Motors Market Share, by Region, 2021 & 2030 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Smart Motors Market, 2022 – 2030 (USD Billion)
        • 7.3.1.1 North America Smart Motors Market, by Country, 2022 – 2030 (USD Billion)
    • 7.4 North America Smart Motors Market, by Product, 2022 – 2030
      • 7.4.1 North America Smart Motors Market, by Product, 2022 – 2030 (USD Billion)
    • 7.5 North America Smart Motors Market, by Application, 2022 – 2030
      • 7.5.1 North America Smart Motors Market, by Application, 2022 – 2030 (USD Billion)
    • 7.6. Europe
      • 7.6.1 Europe Smart Motors Market, 2022 – 2030 (USD Billion)
        • 7.6.1.1 Europe Smart Motors Market, by Country, 2022 – 2030 (USD Billion)
    • 7.7 Europe Smart Motors Market, by Product, 2022 – 2030
      • 7.7.1 Europe Smart Motors Market, by Product, 2022 – 2030 (USD Billion)
    • 7.8 Europe Smart Motors Market, by Application, 2022 – 2030
      • 7.8.1 Europe Smart Motors Market, by Application, 2022 – 2030 (USD Billion)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific Smart Motors Market, 2022 – 2030 (USD Billion)
        • 7.9.1.1 Asia Pacific Smart Motors Market, by Country, 2022 – 2030 (USD Billion)
    • 7.10 Asia Pacific Smart Motors Market, by Product, 2022 – 2030
      • 7.10.1 Asia Pacific Smart Motors Market, by Product, 2022 – 2030 (USD Billion)
    • 7.11 Asia Pacific Smart Motors Market, by Application, 2022 – 2030
      • 7.11.1 Asia Pacific Smart Motors Market, by Application, 2022 – 2030 (USD Billion)
    • 7.12. Latin America
      • 7.12.1 Latin America Smart Motors Market, 2022 – 2030 (USD Billion)
        • 7.12.1.1 Latin America Smart Motors Market, by Country, 2022 – 2030 (USD Billion)
    • 7.13 Latin America Smart Motors Market, by Product, 2022 – 2030
      • 7.13.1 Latin America Smart Motors Market, by Product, 2022 – 2030 (USD Billion)
    • 7.14 Latin America Smart Motors Market, by Application, 2022 – 2030
      • 7.14.1 Latin America Smart Motors Market, by Application, 2022 – 2030 (USD Billion)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa Smart Motors Market, 2022 – 2030 (USD Billion)
        • 7.15.1.1 The Middle-East and Africa Smart Motors Market, by Country, 2022 – 2030 (USD Billion)
    • 7.16 The Middle-East and Africa Smart Motors Market, by Product, 2022 – 2030
      • 7.16.1 The Middle-East and Africa Smart Motors Market, by Product, 2022 – 2030 (USD Billion)
    • 7.17 The Middle-East and Africa Smart Motors Market, by Application, 2022 – 2030
      • 7.17.1 The Middle-East and Africa Smart Motors Market, by Application, 2022 – 2030 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 ABB Ltd
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Fuji Electric Co. Ltd. (Furukawa Co. Ltd.)
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Dunkermotoren GmbH (AMETEK Inc.)
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Nidec Corporation
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 General Electric Company
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Moog Inc.
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 RobotShop Inc.
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Siemens AG
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Rockwell Automation Inc.
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Schneider Electric SE
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 Technosoft SA
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments

List Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Smart Motors Market, 2022 – 2030 (USD Billion)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Smart Motors Market attractiveness, By Product
  • 6. Global Smart Motors Market attractiveness, By Application
  • 7. Global Smart Motors Market share by Product, 2022 and 2030 (USD Billion)
  • 8. Global Smart Motors Market by 18V, 2022 – 2030 (USD Billion)
  • 9. Global Smart Motors Market by 24V, 2022 – 2030 (USD Billion)
  • 10. Global Smart Motors Market by 36V, 2022 – 2030 (USD Billion)
  • 11. Global Smart Motors Market by 48.24V, 2022 – 2030 (USD Billion)
  • 12. Global Smart Motors Market share by Application, 2022 and 2030 (USD Billion)
  • 13. Global Smart Motors Market by Commercial, 2022 – 2030 (USD Billion)
  • 14. Global Smart Motors Market by Industrial, 2022 – 2030 (USD Billion)
  • 15. Global Smart Motors Market by Automotive, 2022 – 2030 (USD Billion)
  • 16. Global Smart Motors Market by Oil & Gas, 2022 – 2030 (USD Billion)
  • 17. Global Smart Motors Market by Water and Wastewater, 2022 – 2030 (USD Billion)
  • 18. Global Smart Motors Market by Aerospace & Defense, 2022 – 2030 (USD Billion)
  • 19. Global Smart Motors Market by Metal and Mining, 2022 – 2030 (USD Billion)
  • 20. Global Smart Motors Market share, by Region, 2022 and 2030
  • 21. North America Smart Motors Market, 2022 – 2030 (USD Billion)
  • 22. Europe Smart Motors Market, 2022 – 2030 (USD Billion)
  • 23. Asia Pacific Smart Motors Market, 2022 – 2030 (USD Billion)
  • 24. Latin America Smart Motors Market, 2022 – 2030 (USD Billion)
  • 25. The Middle-East and Africa Smart Motors Market, 2022 – 2030 (USD Billion)

List Of Tables

  • 1. Global Smart Motors Market: Snapshot
  • 2. Drivers of the Smart Motors Market: impact analysis
  • 3. North America Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 4. North America Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 5. U.S. Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 6. U.S. Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 7. Canada Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 8. Canada Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 9. Europe Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 10. Europe Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 11. Germany Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 12. Germany Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 13. France Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 14. France Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 15. U.K. Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 16. U.K. Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 17. Italy Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 18. Italy Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 19. Spain Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 20. Spain Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 21. Rest of Europe Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 22. Rest of Europe Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 23. Asia Pacific Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 24. Asia Pacific Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 25. China Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 26. China Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 27. Japan Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 28. Japan Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 29. India Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 30. India Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 31. South Korea Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 32. South Korea Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 33. South-East Asia Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 34. South-East Asia Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 35. Rest of Asia Pacific Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 36. Rest of Asia Pacific Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 37. Latin America Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 38. Latin America Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 39. Brazil Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 40. Brazil Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 41. Mexico Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 42. Mexico Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 43. Rest of Latin America Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 44. Rest of Latin America Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 45. The Middle-East and Africa Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 46. The Middle-East and Africa Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 47. GCC Countries Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 48. GCC Countries Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 49. South Africa Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 50. South Africa Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)
  • 51. Rest of Middle-East Africa Smart Motors Market revenue, By Product, 2022 – 2030 (USD Billion)
  • 52. Rest of Middle-East Africa Smart Motors Market revenue, By Application, 2022 – 2030 (USD Billion)

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Players:

  • ABB Ltd
  • Fuji Electric Co. Ltd. (Furukawa Co. Ltd.)
  • Dunkermotoren GmbH (AMETEK Inc.)
  • Nidec Corporation
  • General Electric Company
  • Moog Inc.
  • RobotShop Inc.
  • Siemens AG
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Technosoft SA

FAQs

“Asia Pacific” region will lead the global Smart Motors market during the forecast period 2022 to 2030.

The key factors driving the market are robotics, industrial automation, and effective material handling solutions and more effective and environmentally friendly motors.

The key players operating in the Smart Motors market are ABB Ltd, Fuji Electric Co. Ltd. (Furukawa Co. Ltd.), Dunkermotoren GmbH (AMETEK Inc.), Nidec Corporation, General Electric Company, Moog Inc., RobotShop Inc., Siemens AG , Rockwell Automation Inc., Schneider Electric SE, Technosoft SA.

The global Smart Motors market is expanding growth with a CAGR of approximately 6.5% during the forecast period (2022 to 2030).

The global Smart Motors market size was valued at USD 2.6 Billion in 2021 and it is projected to reach around USD 4 Billion by 2030.

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