The Global Smart Motors Market size is expected to reach $3.3 billion by 2030, rising at a market growth of 6.7% CAGR during the forecast period.
The increasing shift towards electric vehicles is driving the adoption of smart motor technologies in automotive applications. Therefore, the Automotive segment acquired $459.5 million revenue in 2022. Electric vehicles rely on electric motors for propulsion, and smart motor technologies such as variable frequency drives (VFDs), and motor control algorithms are essential for optimizing energy efficiency, performance, and range in electric vehicle platforms.
Advancements in motor control technologies serve as a pivotal driver propelling the market forward. These innovations range from variable frequency drives to sophisticated field-oriented control (FOC) algorithms. Therefore, the ongoing advancements in motor control technologies propel the market's growth.
Additionally, predictive maintenance allows organizations to schedule maintenance activities only when needed, reducing unnecessary downtime and maintenance costs. Smart motors with sensors can provide real-time data about their operational health, enabling predictive maintenance strategies. Hence, the growing emphasis on predictive maintenance drives the market's growth.
However, Smart motor technology involves advanced sensors, and communication infrastructure, which require substantial initial investment to develop, manufacture, and implement. Developing smart motor technologies involves extensive research and development efforts to create innovative solutions for efficient motor control and predictive maintenance. In conclusion, high initial investment costs are hampering the market's growth.
By End-use Analysis
On the basis of end-use, the market is segmented into industrial, consumer electronics, automotive, aerospace & defense, and others. In 2022, the automotive segment attained a noteworthy 23.3% revenue share in the market. It plays a critical role in electric vehicles (EVs) and hybrid vehicles, powering propulsion systems, electric drivetrains, and ancillary components such as power steering, braking, and HVAC systems.
By Product Analysis
Based on product, the market is divided into 18V, 24V, 36V, and 48V & above. In 2022, the 24V segment acquired 39.2% revenue share in the market. The 24V segment is well-suited for low-power applications across various industries, including automotive, robotics, home automation, and IoT devices. Therefore, the compatibility with low-power applications is driving the segment's growth.
By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region generated 34.6% revenue share in the market. Smart motors are integral to infrastructure projects, enabling efficient operation, automation, and remote monitoring of critical assets such as power plants, transportation systems, and smart buildings.
List of Key Companies Profiled
- Rockwell Automation, Inc.
- Moog, Inc.
- Fuji Electric Co. Ltd.
- ABB Ltd.
- Siemens AG
- Schneider Electric SE
- General Electric Company
- Dunkermotoren GmbH (Ametek, Inc.)
- RobotShop Inc.
- Roboteq, Inc. (Nidec Motor Corporation)
Global Smart Motors Market Report Segmentation
By End-use
- Industrial
- Automotive
- Consumer Electronics
- Aerospace & Defense
- Others
By Product
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1Global Smart Motors Market, by End-use
- 1.4.2Global Smart Motors Market, by Product
- 1.4.3Global Smart Motors Market, by Geography
- 1.5Methodology for the research
Chapter 2.Market at a Glance
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
- 3.3Porter Five Forces Analysis
Chapter 4.Global Smart Motors Market, by End-use
- 4.1Global Industrial Market, by Region
- 4.2Global Automotive Market, by Region
- 4.3Global Consumer Electronics Market, by Region
- 4.4Global Aerospace & Defense Market, by Region
- 4.5Global Others Market, by Region
Chapter 5.Global Smart Motors Market, by Product
- 5.1Global 24V Market, by Region
- 5.2Global 48V & above Market, by Region
- 5.3Global 18V Market, by Region
- 5.4Global 36V Market, by Region
Chapter 6.Global Smart Motors Market, by Region
- 6.1North America Smart Motors Market
- 6.1.1North America Smart Motors Market, by End-use
- 6.1.1.1North America Industrial Market, by Country
- 6.1.1.2North America Automotive Market, by Country
- 6.1.1.3North America Consumer Electronics Market, by Country
- 6.1.1.4North America Aerospace & Defense Market, by Country
- 6.1.1.5North America Others Market, by Country
- 6.1.2North America Smart Motors Market, by Product
- 6.1.2.1North America 24V Market, by Country
- 6.1.2.2North America 48V & above Market, by Country
- 6.1.2.3North America 18V Market, by Country
- 6.1.2.4North America 36V Market, by Country
- 6.1.3North America Smart Motors Market, by Country
- 6.1.3.1US Smart Motors Market
- 6.1.3.1.1US Smart Motors Market, by End-use
- 6.1.3.1.2US Smart Motors Market, by Product
- 6.1.3.2Canada Smart Motors Market
- 6.1.3.2.1Canada Smart Motors Market, by End-use
- 6.1.3.2.2Canada Smart Motors Market, by Product
- 6.1.3.3Mexico Smart Motors Market
- 6.1.3.3.1Mexico Smart Motors Market, by End-use
- 6.1.3.3.2Mexico Smart Motors Market, by Product
- 6.1.3.4Rest of North America Smart Motors Market
- 6.1.3.4.1Rest of North America Smart Motors Market, by End-use
- 6.1.3.4.2Rest of North America Smart Motors Market, by Product
- 6.2Europe Smart Motors Market
- 6.2.1Europe Smart Motors Market, by End-use
- 6.2.1.1Europe Industrial Market, by Country
- 6.2.1.2Europe Automotive Market, by Country
- 6.2.1.3Europe Consumer Electronics Market, by Country
- 6.2.1.4Europe Aerospace & Defense Market, by Country
- 6.2.1.5Europe Others Market, by Country
- 6.2.2Europe Smart Motors Market, by Product
- 6.2.2.1Europe 24V Market, by Country
- 6.2.2.2Europe 48V & above Market, by Country
- 6.2.2.3Europe 18V Market, by Country
- 6.2.2.4Europe 36V Market, by Country
- 6.2.3Europe Smart Motors Market, by Country
- 6.2.3.1Germany Smart Motors Market
- 6.2.3.1.1Germany Smart Motors Market, by End-use
- 6.2.3.1.2Germany Smart Motors Market, by Product
- 6.2.3.2UK Smart Motors Market
- 6.2.3.2.1UK Smart Motors Market, by End-use
- 6.2.3.2.2UK Smart Motors Market, by Product
- 6.2.3.3France Smart Motors Market
- 6.2.3.3.1France Smart Motors Market, by End-use
- 6.2.3.3.2France Smart Motors Market, by Product
- 6.2.3.4Russia Smart Motors Market
- 6.2.3.4.1Russia Smart Motors Market, by End-use
- 6.2.3.4.2Russia Smart Motors Market, by Product
- 6.2.3.5Spain Smart Motors Market
- 6.2.3.5.1Spain Smart Motors Market, by End-use
- 6.2.3.5.2Spain Smart Motors Market, by Product
- 6.2.3.6Italy Smart Motors Market
- 6.2.3.6.1Italy Smart Motors Market, by End-use
- 6.2.3.6.2Italy Smart Motors Market, by Product
- 6.2.3.7Rest of Europe Smart Motors Market
- 6.2.3.7.1Rest of Europe Smart Motors Market, by End-use
- 6.2.3.7.2Rest of Europe Smart Motors Market, by Product
- 6.3Asia Pacific Smart Motors Market
- 6.3.1Asia Pacific Smart Motors Market, by End-use
- 6.3.1.1Asia Pacific Industrial Market, by Country
- 6.3.1.2Asia Pacific Automotive Market, by Country
- 6.3.1.3Asia Pacific Consumer Electronics Market, by Country
- 6.3.1.4Asia Pacific Aerospace & Defense Market, by Country
- 6.3.1.5Asia Pacific Others Market, by Country
- 6.3.2Asia Pacific Smart Motors Market, by Product
- 6.3.2.1Asia Pacific 24V Market, by Country
- 6.3.2.2Asia Pacific 48V & above Market, by Country
- 6.3.2.3Asia Pacific 18V Market, by Country
- 6.3.2.4Asia Pacific 36V Market, by Country
- 6.3.3Asia Pacific Smart Motors Market, by Country
- 6.3.3.1China Smart Motors Market
- 6.3.3.1.1China Smart Motors Market, by End-use
- 6.3.3.1.2China Smart Motors Market, by Product
- 6.3.3.2Japan Smart Motors Market
- 6.3.3.2.1Japan Smart Motors Market, by End-use
- 6.3.3.2.2Japan Smart Motors Market, by Product
- 6.3.3.3India Smart Motors Market
- 6.3.3.3.1India Smart Motors Market, by End-use
- 6.3.3.3.2India Smart Motors Market, by Product
- 6.3.3.4South Korea Smart Motors Market
- 6.3.3.4.1South Korea Smart Motors Market, by End-use
- 6.3.3.4.2South Korea Smart Motors Market, by Product
- 6.3.3.5Singapore Smart Motors Market
- 6.3.3.5.1Singapore Smart Motors Market, by End-use
- 6.3.3.5.2Singapore Smart Motors Market, by Product
- 6.3.3.6Malaysia Smart Motors Market
- 6.3.3.6.1Malaysia Smart Motors Market, by End-use
- 6.3.3.6.2Malaysia Smart Motors Market, by Product
- 6.3.3.7Rest of Asia Pacific Smart Motors Market
- 6.3.3.7.1Rest of Asia Pacific Smart Motors Market, by End-use
- 6.3.3.7.2Rest of Asia Pacific Smart Motors Market, by Product
- 6.4LAMEA Smart Motors Market
- 6.4.1LAMEA Smart Motors Market, by End-use
- 6.4.1.1LAMEA Industrial Market, by Country
- 6.4.1.2LAMEA Automotive Market, by Country
- 6.4.1.3LAMEA Consumer Electronics Market, by Country
- 6.4.1.4LAMEA Aerospace & Defense Market, by Country
- 6.4.1.5LAMEA Others Market, by Country
- 6.4.2LAMEA Smart Motors Market, by Product
- 6.4.2.1LAMEA 24V Market, by Country
- 6.4.2.2LAMEA 48V & above Market, by Country
- 6.4.2.3LAMEA 18V Market, by Country
- 6.4.2.4LAMEA 36V Market, by Country
- 6.4.3LAMEA Smart Motors Market, by Country
- 6.4.3.1Brazil Smart Motors Market
- 6.4.3.1.1Brazil Smart Motors Market, by End-use
- 6.4.3.1.2Brazil Smart Motors Market, by Product
- 6.4.3.2Argentina Smart Motors Market
- 6.4.3.2.1Argentina Smart Motors Market, by End-use
- 6.4.3.2.2Argentina Smart Motors Market, by Product
- 6.4.3.3UAE Smart Motors Market
- 6.4.3.3.1UAE Smart Motors Market, by End-use
- 6.4.3.3.2UAE Smart Motors Market, by Product
- 6.4.3.4Saudi Arabia Smart Motors Market
- 6.4.3.4.1Saudi Arabia Smart Motors Market, by End-use
- 6.4.3.4.2Saudi Arabia Smart Motors Market, by Product
- 6.4.3.5South Africa Smart Motors Market
- 6.4.3.5.1South Africa Smart Motors Market, by End-use
- 6.4.3.5.2South Africa Smart Motors Market, by Product
- 6.4.3.6Nigeria Smart Motors Market
- 6.4.3.6.1Nigeria Smart Motors Market, by End-use
- 6.4.3.6.2Nigeria Smart Motors Market, by Product
- 6.4.3.7Rest of LAMEA Smart Motors Market
- 6.4.3.7.1Rest of LAMEA Smart Motors Market, by End-use
- 6.4.3.7.2Rest of LAMEA Smart Motors Market, by Product
Chapter 7.Company Profiles
- 7.1Rockwell Automation, Inc.
- 7.1.1Company Overview
- 7.1.2Financial Analysis
- 7.1.3Segmental and Regional Analysis
- 7.1.4Research & Development Expenses
- 7.1.5Recent strategies and developments:
- 7.1.5.1Acquisition and Mergers:
- 7.1.6SWOT Analysis
- 7.2Moog, Inc.
- 7.2.1Company Overview
- 7.2.2Financial Analysis
- 7.2.3Segmental and Regional Analysis
- 7.2.4Research & Development Expense
- 7.2.5SWOT Analysis
- 7.3Fuji Electric Co. Ltd.
- 7.3.1Company Overview
- 7.3.2Financial Analysis
- 7.3.3Segmental and Regional Analysis
- 7.3.4Research & Development Expense
- 7.3.5SWOT Analysis
- 7.4ABB Ltd.
- 7.4.1Company Overview
- 7.4.2Financial Analysis
- 7.4.3Segmental and Regional Analysis
- 7.4.4Research & Development Expense
- 7.4.5SWOT Analysis
- 7.5Siemens AG
- 7.5.1Company Overview
- 7.5.2Financial Analysis
- 7.5.3Segmental and Regional Analysis
- 7.5.4Research & Development Expense
- 7.5.5SWOT Analysis
- 7.6Schneider Electric SE
- 7.6.1Company Overview
- 7.6.2Financial Analysis
- 7.6.3Segmental and Regional Analysis
- 7.6.4Research & Development Expense
- 7.6.5SWOT Analysis
- 7.7General Electric Company
- 7.7.1Company Overview
- 7.7.2Financial Analysis
- 7.7.3Segmental and Regional Analysis
- 7.7.4Research & Development Expense
- 7.7.5SWOT Analysis
- 7.8Dunkermotoren GmbH (Ametek, Inc.)
- 7.8.1Company Overview
- 7.8.2Financial Analysis
- 7.8.3Segmental and Regional Analysis
- 7.8.4Research & Development Expenses
- 7.8.5SWOT Analysis
- 7.9RobotShop Inc.
- 7.9.1Company Overview
- 7.9.2SWOT Analysis
- 7.10.Roboteq, Inc. (Nidec Motor Corporation)
- 7.10.1Company Overview
- 7.10.2SWOT Analysis
Chapter 8.Winning imperatives of Smart Motors Market