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Industrial Smart Motors Market - Drivers and Forecasts by Technavio

 

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Technavio Drivers/Forecasts Industrial Smart Motors Market
Technavio
September 2017
Motors

Technavio analysts forecast the global industrial smart motors market to grow at a CAGR of over 6% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global industrial smart motors market for 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The global industrial smart motors market is projected to have a growing market size during the forecast period. The market is expected to flourish in growing business areas in South East Asia, the Middle East, and Latin America. These regions are expected to offer significant potential for the growth of industrial automation with the incorporation of the latest machinery in industries, which will eventually facilitate a positive growth for industrial smart motors vendors.

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Technavio analysts highlight the following three factors that are contributing to the growth of the global industrial smart motors market:

  • Rise in demand for energy-efficient motors
  • Use of smart motors reduce incorporation of PLCs or other controllers in systems
  • Growing adoption of industrial smart systems in APAC

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Rise in demand for energy-efficient motors

Industrial smart motors, when incorporated in industries, provide higher efficiency to industrial applications, which are controlled by variable-speed drives. In an average, industrial smart motors in industrial automation and robotics applications consume less energy than the traditional industrial motors. The efficiency of industrial smart motors is 50% higher than that of traditional industrial motors.

Raghav Bharadwaj Sivaswamy, a lead automation research analyst at Technavio, says, “Heavy-load and high-speed operations are using smart motors to eliminate the leakage of power transmission. The development in simplifying the motor design along with the reduction in size helps the product fit into the desired system. The small size is largely helping industrial smart motors function efficiently.”

Use of smart motors reduce incorporation of PLCs or other controllers in systems

Industrial smart motors are implemented in machines and other industrial systems to reduce machine complexity. This is because smart motors can function as distributed I/O points. Industrial smart motors are used because of their advantages such as minimal space use, and less installation and system cost. Smart motors have fewer parts that provide longer service life and facilitate less downtime.

“Appropriate industrial smart motors will facilitate smooth processes and extend the lifespan of machinery. Most of the end-user industries do not follow proper maintenance procedures with traditional industrial motors, to reduce maintenance costs, which may lead to machine breakdown. However, smart motors themselves require minimal maintenance cost,” adds Raghav.

Growing adoption of industrial smart systems in APAC

At present, the Americas is the global leader next to EMEA in the global industrial smart motors market production. The Americas accounted for over 34% of the market share in 2016. However, at present, the adoption rate of industrial smart systems in APAC is low compared with other geographical regions, and the market is predicted to grow rapidly at a CAGR of 6.89% during the forecast period.

The development of motor-integrated drive system and increasing growth in smart manufacturing activities are supporting the expansion of the industrial smart motors market in APAC. The development of the industries such as automotive, oil and gas, petrochemical, and aerospace is contributing to the rise in the adoption of industrial smart motors in APAC.

Top vendors:

  • HSD
  • Lenze
  • Moog
  • Servotronix Motion Control
  • TECHNOSOFT

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

 

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