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Smart Motor Market Share

Report ID: GMI8924
Published Date: Apr 2024
Report Format: PDF

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Smart Motor Market Share

Schneider Electric SE and Siemens AG held a significant share of over 22% in the smart motor industry in 2023. Schneider Electric SE is a multinational corporation specializing in energy management and automation solutions. It offers a wide range of products & services including electrical distribution, automation, and control, building management systems, and renewable energy solutions. In the realm of smart motors, the company provides innovative motor control products equipped with advanced technologies, such as variable–speed drives, energy monitoring, and predictive maintenance capabilities, enabling efficient & intelligent motor operation in various industrial applications.

Siemens AG is a global conglomerate headquartered in Germany, operating in various sectors including industry, energy, healthcare, and infrastructure. In the realm of smart motors, Siemens offers advanced solutions integrating intelligent control systems with electric motors. These motors leverage digital technologies, such as IoT connectivity, data analytics, and automation, to optimize performance, enhance efficiency, and enable predictive maintenance, thereby driving productivity and sustainability for industrial applications.

Smart Motor Market Companies

Major players operating in the smart motor industry are:

ABB Ltd.
Dunkermotoren GmbH (Ametek Inc.)
Fuji Electric Co. Ltd
General Electric
Rockwell Automation
Schneider Electric SE
Siemens AG

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Industry size for smart motor recorded over USD 2.3 billion in 2023 and is expected to register over 6.5% CAGR from 2024 to 2032, due to the increasing focus on reducing operational costs owing to their efficiency and predictive maintenance capabilities.

The automatic segment in the smart motor industry is estimated to grow at over 8% CAGR from 2024 to 2032, on account of the adoption of Industry 4.0 principles including automation, data exchange, and digital technologies.

North America industry accounted for over 35% of revenue share in 2023 and is expected to expand at significant CAGR from 2024 to 2032, due to the strict energy efficiency requirements, robust industrial automation, and the strong emphasis on technological innovation.

ABB Ltd., Dunkermotoren GmbH (Ametek Inc.), Fuji Electric Co. Ltd, General Electric, Rockwell Automation, Schneider Electric SE, Siemens AG are some of the major smart motor companies worldwide.