Press release
Smart Motors Market 2021 Growth, Prominent Players: ABB Ltd, Siemens, Schaeffler, Sick AG
The Smart Motors Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Smart Motors market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Smart Motors market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Smart Motors market.The smart motors market was valued at USD 2408.4 million in 2020 and is expected to reach USD 3559.07 million by 2026, registering a CAGR of 6.2 % over the forecast period (2021 - 2026).
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Top Leading Companies of Smart Motors Market are - ABB Ltd, Siemens, Schaeffler, Sick AG, TestMotors, WEG SA, Augury Inc., Moog Inc., Dunkermotoren GmbH, Technosoft SA and others.
Industry News and Updates:
- June 2020 - Weg SA was awarded to supply a package of 24 medium voltage electric motors to the Pumping station of SWCC (Saline Water Conversion Corporation), which is a Government Company that operates desalination plants and power plants in Saudi Arabia.
- March 2020 - ABB Limited completed its acquisitions on Cylon Controls Ltd for enhancing ABB Electrification business position in the commercial buildings segment. Cylon consists of approximately 100 employees and offers building automation and HVAC control solutions.
- March 2020 - NEC partnered with Siemens to provide artificial intelligence (AI) monitoring and analysis. The collaboration is expected to provide a solution for manufacturing that connects MindSphere, the cloud-based open IoT operating system from Siemens and NEC’s System Invariant Analysis Technology (SIAT).
Key Market Trends:
Automotive Application is Expected to have a Significant Market Share
- The automotive sector has witnessed significant growth in the number of units produced per day, over the years. The machinery on the production floor requires proper technology to shorten production cycles and increase production output while improving efficiency.
- Smart motors provide a solution to the excessive electrical consumption of a motor. Smart motors are highly efficient motors that use only the required amount of energy to start the automotive, improving efficiency, reducing downtime, and lowering costs.
Asia Pacific Region to Grow Significantly
- Asia-Pacific is one of the most significant markets for the market studied. The region offers massive growth potentials to the studied market vendors, owing to the growing adoption of automation across the various end-user industries in the region.
- The energy concern in the region is also increasing the adoption of low voltage electrical equipment and motivating many companies to develop energy-efficient and compact electrical equipment and devices, hence further driving the smart motor growth.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Smart Motors Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Smart Motors Market (%),2016 - 2026
- Smart Motors Market Share, By Brand
- Smart Motors Market Share, By Company
- Smart Motors Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Smart Motors Market Value Analysis & Forecast
- Promising Smart Motors Development by Major Companies
- Detailed Smart Motors Portfolio of the Major Companies
- Major Deals in the Smart Motors Market
- Major Companies Analysis
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https://www.marketinsightsreports.com/reports/02082592839/smart-motors-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=namita
We Offer Customization on Report Based on Specific Client Requirement:
- Country Level analysis for any 5 countries of your choice.
- Competitive analysis of any 5 key market players.
- 40 analyst hours to cover any other data point.
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Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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