Smart Motors Market Size to Hit USD 3.51 Billion by 2032 Driven by Industry 4.0 and Smart Manufacturing Trends | SNS Insider
The Smart Motors Market is expanding with demand for energy-efficient, IoT-enabled motor solutions in industrial automation, HVAC, and automotive applications.
Austin, March 03, 2025 (GLOBE NEWSWIRE) — Smart Motors Market Size & Growth Insights:
According to the SNS Insider,“the Smart Motors Market was valued at USD 1.98 billion in 2023 and is projected to reach USD 3.51 billion by 2032, expanding at a CAGR of 6.58% from 2024 to 2032.”
This growth is driven by the increasing demand for energy-efficient motors, advancements in Industry 4.0, and the integration of smart technologies such as AI and IoT in motor control systems.
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Leading Market Players with their Product Listed in this Report are:
- SAIC Motor (Smart Electric Vehicles, Intelligent Vehicle Platforms)
- BYD (Sealion 7 Electric SUV, Yangwang U8 Hybrid SUV)
- Xpeng (P7+ Electric Vehicle, Flying Car Prototype)
- Segway (Xyber E-Bike, GT3 Pro Scooter)
- Foxconn (Model B EV Hatchback, Automotive Batteries)
- Ebm-papst (Electric Motors, Fans)
- ABB (Azipod Electric Propulsion Systems, FlexPicker Robots)
- Yaskawa Electric Corporation (Motoman Industrial Robots, Servo Drives)
- Mabuchi Motor (Small Electric Motors for Automotive Applications, Motors for Consumer Electronics)
- Tesla, Inc. (Induction Motors, Internal Permanent Magnet Motors)
- Nidec (Small Precision Motors, Automotive Motors)
- Huawei (Automotive Intelligent Systems, Electric Vehicle Components)
- Bosch (Electric Drive Motors, Smart Actuators)
- Siemens (Smart Motor Control Centers, Electric Propulsion Systems)
- General Motors (Ultium Drive Motors, Electric Vehicle Platforms).
Smart Motors Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 1.98 Billion |
| Market Size by 2032 | USD 3.51 Billion |
| CAGR | CAGR of 6.58% From 2024 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (18V, 24V, 36V, 48V and above) • By End Use (Industrial, Automotive, Consumer Electronics, Aerospace & Defense, Other) |
| Key Drivers | • Smart Motors Powering Energy Efficiency Industrial Automation and Productivity in the Era of Industry 4.0.
• Smart Motors Market Opportunities Driven by Urbanization Smart Cities and AI-Powered Predictive Maintenance Solutions. |
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Key Industry Segmentation
By Product: 24V Segment Leads, 48V and Above Registers Fastest Growth
24V segment dominated the market and accounted for a significant revenue share of 38.2 % in 2023, as they are used in great quantities in industrial automation, robotics, and HVAC systems. These motors are also preferred due to their containing a good balance of efficiency, and low cost. The industries that depend on 24V motors the most are automotive, electronics, and manufacturing, due to their high degree of precision and energy optimization.
The 48V and above smart motors are projected to have the fastest CAGR, due to their rising use in electric vehicles, heavy machinery, and renewable energy applications. With this, these motors provide a greater power density, improved thermal management, and better efficiency that is also suitable for high-performance applications, such as electric drivetrain systems, industry robotics, and smart grid.
By End Use: Industrial Segment Dominates, Automotive Registers Fastest Growth
The industrial applications segment dominated the market and accounted for the largest market share of 35.8% in 2023, where smart motors serve a vital role in factory automation, conveyor systems, and precision manufacturing. These motors provide real-time monitoring, predictive maintenance, and energy savings, which reduces operational costs, thereby improving productivity.
The automotive segment is expected to register the fastest CAGR during the forecast period, hybrid powertrains and autonomous driving technologies. EV propulsion systems, power steering, adaptive cruise control, and braking systems all require smart motors. As the world is leaning towards ‘sustainability’ homogeneously and several governments are passing new policies to promote EV adoption, automakers are required to design next-generation smart motors that are light, efficient, and highly advanced as to maintain the battery life of such vehicles and their performance as well.
By Region: North America Dominates, Asia-Pacific Registers Fastest Growth
North America dominated the market and accounted for significant revenue share in 2023, due to high industrial automation adoption, development in smart production, and rising electric vehicle market. U.S. and Canada are leading the way for Industry 4.0 with the integration of smart motor powered by AI for automotive, aerospace & industrial applications.
The Smart Motors Market is estimated to register the fastest CAGR in the Asia-Pacific region during 2024 to 2032 owing to rapid industrialization, increase in production of EV and large-scale adoption of smart manufacturing technologies. The demand for intelligent motor systems is also supported by the electric mobility, industrial automation, and renewable energy projects countries such as China, Japan, South Korea, and India are investing big on.
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Recent Developments in the Smart Motors Market (2024)
- January 2024 – Siemens AG introduced a new line of AI-driven smart motors for industrial automation, enhancing operational efficiency and predictive maintenance capabilities.
- February 2024 – ABB Ltd. announced a strategic partnership to develop next-gen smart motors for electric vehicles, focusing on high efficiency and lightweight design.
- March 2024 – Schneider Electric launched a cloud-integrated smart motor control system, enabling real-time remote monitoring and optimization for industrial users.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Channel Distribution Analysis
5.2 Utilization Rate
5.3 Replacement and Upgrade Cycles
5.4 Energy Savings and Efficiency Metrics
6. Competitive Landscape
7. Smart Motors Market, by Product
8. Smart Motors Market, by End Use
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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