Product Code: GVR-4-68040-190-0
Smart Motors Market Growth & Trends:
The global smart motors market size is expected to reach USD 3.63 billion by 2030 and expand at a CAGR of 6.8% over the forecast period, according to a new report by Grand View Research, Inc. The growing demand for smart motors is primarily fueled by the automotive sector, with a notable surge in sales of electric vehicles worldwide. Manufacturers in the automotive industry are increasingly incorporating advanced features such as electric seats, power windows, and mirrors, driving the need for smart motors. These motors, equipped with sensors, controllers, and communication systems, enable precise control and responsiveness, making them integral components for enhanced automotive functionalities.
Integrating smart motors contributes to improved efficiency and performance in electric vehicles. As the automotive landscape continues to shift towards electric mobility, the demand for smart motors is expected to witness sustained growth, positioning them as pivotal elements in the evolution of automotive technology. The surging demand for smart motors in robotic applications is a significant driver of the market growth. These motors offer precise motion control and versatile adaptability, making them crucial components in the advancement of sophisticated robotic systems. The increasing adoption of robots for material handling operations and automation is fueling the demand for smart motors.
Manufacturers of smart motors and robots are actively engaged in partnerships to create innovative drive systems that can swiftly respond to a heavy pool of information, enabling precise movements, rapid stops, efficient braking, and quick accelerations in robotic applications. This collaborative effort is anticipated to be pivotal in expanding the global smart motors market, especially within industrial automation and robotics.
The market is anticipated to face challenges in the adoption from end-users due to high product costs. The availability of alternative motors, including conventional and servo motors, provides cost-effective options for end-users. While conventional motors are more budget-friendly, they often lack the precision control capabilities of smart motors. The latter, equipped with integrated sensors and controllers, offers superior control over various applications. Despite the competitive pricing of alternative motors, smart motors' advanced features and precise control may continue to position them as preferred solutions for applications requiring heightened performance and automation capabilities.
The market players are adopting strategies such as partnerships, collaborations, and new product launches to attract customers and gain a competitive edge. For instance, in April 2022, Moog Animatics, a global smart motors manufacturer, announced the launch of the new Class 6 D-style SmartMotor range. The newly launched product allows significant reductions in machine development costs and build times. This new product launch is expected to help the company attract new customers.
Smart Motors Market Report Highlights:
- The 24V segment held the largest market share of 39.2% in 2023. It will retain its dominance over the forecast period due to increasing demand for 24V smart motors from the industrial sector
- The automotive segment is expected to have the highest CAGR over the forecast period, owing to increasing demand for electric vehicles globally. The automotive sector is experiencing a surge in demand for smart motors, driven by their versatile application in electric systems, including seats, window systems, and mirror systems. The improved efficiency and precise control offered by smart motors make them integral components in enhancing the functionality of various electric features within vehicles
- The North America region accounted for the largest revenue share in the market in 2023 due to increasing demand from consumer electronic and industrial manufacturers. Smart motors are widely used in conveyor and winding systems as they provide precise control over the equipment
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.4. Research Assumptions
- 1.5. List of Data Sources
- 1.5.1. Secondary Sources
- 1.5.2. Primary Sources
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segmental Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope Outlook
- 3.1. Market Lineage Outlook
- 3.2. Smart Motors Market Value Chain Analysis
- 3.3. Smart Motors Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint/Challenge Analysis
- 3.3.3. Market Opportunity Analysis
- 3.4. Industry Analysis - Porter's Five Forces Analysis
- 3.4.1. Supplier Power
- 3.4.2. Buyer Power
- 3.4.3. Substitution Threat
- 3.4.4. Threat of New Entrants
- 3.4.5. Competitive Rivalry
- 3.5. Smart Motors Market PESTEL Analysis
- 3.5.1. Political Landscape
- 3.5.2. Economic Landscape
- 3.5.3. Social Landscape
- 3.5.4. Technology Landscape
- 3.5.5. Environmental Landscape
- 3.5.6. Legal Landscape
- 3.6. Impact of COVID-19 on the Smart Motors Market
Chapter 4. Smart Motors Market Product Outlook
- 4.1. Smart Motors Market, By Product Analysis & Market Share, 2023 & 2030
- 4.2. 18V
- 4.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.3. 24V
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4. 36V
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.5. 48V and above
- 4.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5. Smart Motors Market End-use Outlook
- 5.1. Smart Motors Market, By End-use Analysis & Market Share, 2023 & 2030
- 5.2. Industrial
- 5.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.3. Automotive
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.4. Consumer Electronics
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.5. Aerospace & Defense
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.6. Other
- 5.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 6. Smart Motors Market: Regional Estimates & Trend Analysis
- 6.1. Smart Motors Market Share, By Region, 2023 & 2030, (USD Million)
- 6.2. North America
- 6.2.1. North America Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.2. North America Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.2.3. North America Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.2.4. U.S.
- 6.2.4.1. U.S. Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.4.2. U.S. Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.2.4.3. U.S. Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.2.5. Canada
- 6.2.5.1. Canada Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.5.2. Canada Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.2.5.3. Canada Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.2.6. Europe
- 6.2.7. Europe Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.8. Europe Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.2.9. Europe Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.2.10. UK
- 6.2.10.1. UK Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.10.2. UK Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.2.10.3. UK Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.2.11. Germany
- 6.2.11.1. Germany Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.11.2. Germany Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.2.11.3. Germany Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.2.12. France
- 6.2.12.1. France Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.12.2. France Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.2.12.3. France Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.2.13. Spain
- 6.2.13.1. Spain Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.13.2. Spain Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.2.13.3. Spain Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.2.14. Italy
- 6.2.14.1. Italy Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.14.2. Italy Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.2.14.3. Italy Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.3. Asia Pacific
- 6.3.1. Asia Pacific Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.2. Asia Pacific Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.3.3. Asia Pacific Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.3.4. China
- 6.3.4.1. China Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.4.2. China Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.3.4.3. China Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.3.5. Japan
- 6.3.5.1. Japan Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.5.2. Japan Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.3.5.3. Japan Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.3.6. India
- 6.3.6.1. India Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.6.2. India Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.3.6.3. India Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.3.7. South Korea
- 6.3.7.1. South Korea Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.7.2. South Korea Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.3.7.3. South Korea Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.3.8. Australia
- 6.3.8.1. Australia Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.8.2. Australia Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.3.8.3. Australia Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.4. Latin America
- 6.4.1. Latin America Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.2. Latin America Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.4.3. Latin America Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.4.4. Brazil
- 6.4.4.1. Brazil Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.4.2. Brazil Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.4.4.3. Brazil Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.4.5. Mexico
- 6.4.5.1. Mexico Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.5.2. Mexico Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.4.5.3. Mexico Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.5. Middle East and Africa
- 6.5.1. Middle East and Africa Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Middle East and Africa Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.5.3. Middle East and Africa Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.5.4. Kingdom of Saudi Arabia (KSA)
- 6.5.4.1. Kingdom of Saudi Arabia (KSA)Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.4.2. Kingdom of Saudi Arabia (KSA)Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.5.4.3. Kingdom of Saudi Arabia (KSA)Smart Motors Market Estimates and Forecasts, By End-use, 2018 - 2030 (USD Million)
- 6.5.5. UAE
- 6.5.5.1. UAE Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.5.2. UAE Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.5.5.3. UAE Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
- 6.5.6. South Africa
- 6.5.6.1. South Africa Smart Motors Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.6.2. South Africa Smart Motors Market Estimates and Forecasts, by Product, 2018 - 2030 (USD Million)
- 6.5.6.3. South Africa Smart Motors Market Estimates and Forecasts, by End-use, 2018 - 2030 (USD Million)
Chapter 7. Smart Motors Market Competitive Landscape
- 7.1. Recent Developments & Impact Analysis by Key Market Participants
- 7.2. Company Categorization
- 7.3. Company Market Share Analysis
- 7.4. Company Heat Map Analysis
- 7.5. Strategy Mapping
- 7.5.1. Expansion
- 7.5.2. Mergers & Acquisition
- 7.5.3. Partnerships & Collaborations
- 7.5.4. New Application Launches
- 7.5.5. Research And Development
- 7.6. Company Profiles
- 7.6.1. Rockwell Automation
- 7.6.1.1. Participant's Overview
- 7.6.1.2. Financial Performance
- 7.6.1.3. Application Benchmarking
- 7.6.1.4. Recent Developments
- 7.6.2. Moog, Inc.
- 7.6.2.1. Participant's Overview
- 7.6.2.2. Financial Performance
- 7.6.2.3. Application Benchmarking
- 7.6.2.4. Recent Developments
- 7.6.3. Fuji Electric Co., Ltd.
- 7.6.3.1. Participant's Overview
- 7.6.3.2. Financial Performance
- 7.6.3.3. Application Benchmarking
- 7.6.3.4. Recent Developments
- 7.6.4. ABB Ltd.
- 7.6.4.1. Participant's Overview
- 7.6.4.2. Financial Performance
- 7.6.4.3. Application Benchmarking
- 7.6.4.4. Recent Developments
- 7.6.5. Siemens AG
- 7.6.5.1. Participant's Overview
- 7.6.5.2. Financial Performance
- 7.6.5.3. Application Benchmarking
- 7.6.5.4. Recent Developments
- 7.6.6. Schneider Electric SE
- 7.6.6.1. Participant's Overview
- 7.6.6.2. Financial Performance
- 7.6.6.3. Application Benchmarking
- 7.6.6.4. Recent Developments
- 7.6.7. General Electric
- 7.6.7.1. Participant's Overview
- 7.6.7.2. Financial Performance
- 7.6.7.3. Application Benchmarking
- 7.6.7.4. Recent Developments
- 7.6.8. Dunkermotoren GmbH
- 7.6.8.1. Participant's Overview
- 7.6.8.2. Financial Performance
- 7.6.8.3. Application Benchmarking
- 7.6.8.4. Recent Developments
- 7.6.9. Technosoft SA
- 7.6.9.1. Participant's Overview
- 7.6.9.2. Financial Performance
- 7.6.9.3. Application Benchmarking
- 7.6.9.4. Recent Developments
- 7.6.10. RobotShop, Inc.
- 7.6.10.1. Participant's Overview
- 7.6.10.2. Financial Performance
- 7.6.10.3. Application Benchmarking
- 7.6.10.4. Recent Developments
- 7.6.11. Roboteq, Inc.
- 7.6.11.1. Participant's Overview
- 7.6.11.2. Financial Performance
- 7.6.11.3. Application Benchmarking
- 7.6.11.4. Recent Developments