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Industrial Smart Motors Market Expected to Reach $1,809.1 Million by 2025 | Numerous lucrative business opportunities for the market players in the coming years

02-19-2019 06:24 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Industrial Smart Motors Market Expected to Reach $1,809.1

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.

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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.

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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.

About Allied Market Research
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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