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Industrial Smart Motors Market Overview, Top Manufacturers and Future Growth by 2025
Industrial Smart Motors Market
Top Companies
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.
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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.
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