How big is the Smart Motors Market?

The Smart Motors Market size is expected to reach USD 2.01 billion in 2024 and grow at a CAGR of 5.90% to reach USD 2.73 billion by 2029. Read More

What is the current Smart Motors Market size?

In 2024, the Smart Motors Market size is expected to reach USD 2.01 billion. Read More

Which is the fastest growing region in Smart Motors Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Smart Motors Market?

In 2024, the Asia Pacific accounts for the largest market share in Smart Motors Market. Read More

What years does this Smart Motors Market cover, and what was the market size in 2023?

In 2023, the Smart Motors Market size was estimated at USD 1.89 billion. The report covers the Smart Motors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Smart Motors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Smart Motors Market - Size, Share & Industry Analysis

Smart Motors Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Smart Motor Market Report is Segmented by Component (Variable Speed Drive and Motor), Application (Industrial, Commercial, Automotive, Aerospace and Defense, Oil and Gas, Metal and Mining, Water and Wastewater, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value in USD for all the Above Segments.

Smart Motors Industry Overview

The smart motors market is highly fragmented, with the presence of major players like Safran Electrical & Power, Siemens AG, Nanotec Electronic GmbH & Co. KG, Turntide Technologies Inc., and Schneider Electric SE. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

• July 2023 - Nidec Corporation announced the acquisition of TAR, LLC d/b/a Houma Armature Works, a privately owned US company ("Houma"), from its founding family through the Company's subsidiary, Nidec Motor Corporation. Through this acquisition, Nidec Motor Corporation can enhance its service offering, expanding its share within its own US installed base. Houma will be able to provide services to NMC's customers.

• July 2023 - Moog Animatics has unveiled its latest offering, the Class 6 D-style SmartMotor range. This upgraded line not only boasts a smaller footprint but also promises a reduced total cost and a streamlined design. Building upon its predecessor's highly programmable nature, the new SmartMotor now integrates a motor, multiturn absolute encoder, amplifier, and controller. It also offers a diverse set of communication options, such as USB, dual-port Industrial Ethernet, and conventional RS-232/RS-485 and CAN connections.