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Industrial Smart Motors Market is Expected to Grow at a CAGR of 5.28% During the Forecast Period 2018-2025

02-14-2020 03:14 PM CET | Industry, Real Estate & Construction

Press release from: allied market research

Industrial Smart Motors Market is Expected to Grow at a CAGR

Rise in demand for advanced process controls in industrial motors and emphasis on reducing the downtime during maintenance have boosted the demand for the industrial smart motors. Moreover, integration of industrial internet of things-enabled (IoT-enabled) services into motor to enhance performance has supplemented the growth of the global industrial smart motors market

The study includes the current market trends as well as growth prospects of the global industrial smart motors market. Moreover, the report offers an exclusive summery on the current market trends, scope of the industry, key findings, major market dynamics such as driver and restraints, and key players in the market. As per the report, the global industrial smart motors market was pegged at $1.20 billion in 2017 and is expected to reach $1.81 billion in 2025, registering CAGR of 5.28% from 2018 to 2025.

Pumps: A lucrative segment

The pumps segment is expected to witness the fastest CAGR of 5.11% through 2025, owing to their ability to offer efficient energy performance and reduce the downtime during maintenance & service activities. Moreover, the segment held the largest share in the market in 2017, contributing about 19% share of the total market.

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Asia-Pacific to Present Lucrative Opportunities in Market

Asia-Pacific region is expected to hold the largest share in the market, contributing more than one-third share of the total market by 2025, owing to the presence of global automotive and manufacturing hubs such as India and China. However, LAMEA region would portray the fastest growth by registering 5.97% CAGR during the forecast period, owing to the emerging manufacturing capabilities in Africa and Latin America end-user industries. Other regions analyzed in the report include North America and Europe.

Manufacturing Segment to Grow Fastest

The manufacturing segment is expected to hold the largest share in the market, contributing to more than one-fourth share of the market by 2025, owing to the large scope in various applications such as process automation, conveyor systems, and material handling.

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Major Market Players

The key market players profiled in the report are CG Global, HSD SpA, Reliance Precision Limited, Rockwell Automation, Inc., Somfy Systems, Inc, USAutomation, Dunkermotoren GmbH, Nidec Corporation, Schneider Electric, and TECHNOSOFT SA. The report offers insights on various strategies, including new product launches, collaborations, partnerships, and mergers & acquisitions adopted by these players to gain a strong foothold in the industry.

Access Full Report Summary:https://www.alliedmarketresearch.com/industrial-smart-motors-market

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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-scale 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 right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies 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 intelligence support to help clients transform into a prominent business firm.

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