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The infographic below contains key findings from our analysis of the industrial smart motors market
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Research analysis on the global industrial smart motors market identifies the increasing preference for energy-efficient motors as one of the major factors that will have a positive impact on the growth of the market. Smart motors are mainly utilized for heavy loads and high-speed operations to remove power transmission leakages. The industrial smart motors, are applied in variable speed drive systems and help in retaining the efficiency and increasing productivity and also help in cost savings. Such advantages will increase the demand for these motors, which will subsequently fuel the market’s growth prospects. Technavio’s market research analysts predict that this market will grow at a CAGR of more than 6% by 2021.
In terms of geography, EMEA will contribute to the major shares of the market due to the growth of the automotive, food and beverages, aerospace and defense, and textile industries. Factors such as the manufacture of new machines with smart motor drives and the adoption of latest industrial smart motors for end-user applications, will drive the growth of the industrial smart motors market in this segment. Additionally, the increasing manufacturing industries in regions such as Western Europe and the Middle East will also propel the market’s growth in this segment.
The market has the presence of a considerable number of vendors and is competitive. The vendors in this market mainly compete based on factor such as product features, applications, and customized solutions. The growing demand for integrated and intelligent motors and the focus of the end-user industries towards replacing motors will provide growth opportunities for vendors in this market space.
The leading vendors in the market are -
The other prominent vendors in the market are Bosch Rexroth, Delta Electronics, Festo Group, Fuji Electric, General Electric, MISUMI, MOONS', Motion Control Products, NIDEC MOTORS & ACTUATORS, Olympus Controls, Rockwell Automation, Sastra Robotics, Schneider Electric, SMART ELECTRIC, SmartMotorDevices OÜ, Sonceboz, and Striatech.
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During 2016, the AC brushless smart motor segment accounted for the major shares of this market. The adoption of AC brushless smart motors helps in increasing the productivity and reduce downtime. Additionally, the adoption of smart motors also enables the remote monitoring and control of functions which significantly aids the growth of the oil and gas, petrochemical, aerospace and defense, and automotive industries.
The automotive industry will be major end-user to the industrial smart motors market. This is mainly due to the increasing adoption of these motors by the Asian automotive manufacturers. The rise in the adoption of industrial automation and robotics applications in the automotive industry and the adoption of smart motors in the production and implementation of heavy duty equipment, will also fuel the market’s growth in this end-user segment.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by type
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
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