Industrial Smart Motor Market - Overview
Smart motor as the name suggests, is an intelligent device that can be programmed to adjust the speed and torque of a motor by altering the frequency and voltage supply. In traditional motors, mechanical elements are used to regulate the torque and speed of a motor. However, smart motors uses sophisticated power electronics to control position and speed of the motor as per application requirement. It includes a control unit, an encoder and an amplifier. All that is required for it to operate is power, and either an internal program, or serial commands from outside or both. Smart motor functions combining the operation of variable speed drives, control unit, and motor thereby, providing integrating hardware and software and carrying out a process efficiently and effectively. Furthermore, smart motor offers smooth acceleration and deceleration to protect the system mechanics. In pumping system, smart motors are widely used to improve energy savings, reduce heat loss, and to control cooling water pumps.
Industrial Smart Motor Market – Trends and Opportunities
Industrial smart motors are becoming an integral part of industrial automation and robotic applications as they consume less energy than traditional motors and therefore are more efficient. Also, they offer multiple set point speeds and can be easily programmed to run at any one speed setting. And depending on the type of motor, their starting torque may be adjusted from around 30% to 300% or more. Furthermore, since smart motors incorporate their own protection and control functions, the need for ancillary components in them is highly reduced. High speed and heavy load operations are specifically increasingly using smart motors to reduce power transmission leakage. Thus increase in adoption of smart motors in industrial applications such as material handling, pumps, conveyor belts, etc. is driving the industrial smart motor market across the world.
Higher cost as compared to traditional motors is expected to affect the industrial smart motor market especially in developing economies. However, with decreasing initial cost, the adoption of smart motor is anticipated to increase during the forecast period.
Industrial Smart Motor Market – Segmentation
The industrial smart motor market can be classified on the basis of component, industry vertical, and geography. Based on component, the industrial smart motor market can be segmented into variable speed drive, intelligent motor control center, and motor. On the basis of industry vertical, the industrial smart motor market can be classified into power & energy, manufacturing, automotive, healthcare, and others. Based on geography, the industrial smart motor market can be segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. Asia Pacific is expected to be the most attractive region for the industrial smart motor market owing to increasing industrial automation in manufacturing industries in the region. Also, rising awareness to improve productivity of manufacturing plants through efficient and economic smart motors and incorporation of smart manufacturing practices are the major factors driving the growth of industrial smart motors market in this region.
Industrial Smart Motor Market – Key Players
Prominent players operating in the industrial smart motor market include HSD SpA, Lenze GmbH & Co KG, Moog Inc., CG Power and Industrial Solutions Limited, Dunkermotoren GmbH, Nidec Corporation, Reliance Precision Limited, Rockwell Automation, Inc., Schneider Electric SE, Somfy Systems, Inc, TECHNOSOFT SA, and US Automation Inc., among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.