In 2020, The Global Smart Motor Market Will Exceed 8.9 Billion Yuan.

- Nov 01, 2018-

In 2020, the global smart motor market will exceed 8.9 billion yuan.

According to the news released by MarketsandMarkets, the world's second largest market research institution, the global smart motor market revenue in 2014 was about 989 million US dollars (about 6.4 billion yuan), and it is expected that this data will increase to 1.38 billion by 2020. The US dollar (about RMB 8.94 billion) has a compound annual growth rate of 6.19%.

According to the report, the increasingly stringent requirements for on-site environment and wiring space, cost reduction and overall energy efficiency of equipment are the main factors contributing to the stable growth of this market.

From the application market, intelligent motors are widely used in industrial, commercial, automotive, consumer electronics aerospace and other fields. Among them, industry is the largest application market, followed by consumer electronics and commerce. It is expected that by 2020, the demand for smart motors for industrial applications will be the fastest, followed by the commercial market.

In terms of regional markets, in 2014, the Americas was the largest regional market for smart motors, followed by Asia Pacific and Europe. By 2020, the Americas region is expected to continue to maintain this status, while North America will become the dominant market in the Americas.

However, the non-standardization of energy consumption measures, the inconsistent installation of energy efficiency solutions, the asymmetry of information inside and outside the industry, and technology are also factors limiting the growth of the smart motor market.

From the company's perspective, Rockwell Automation, Moog, Fuji Electric, ABB Group, General Electric, Siemens, Schneider Electric, Technosoft, etc. will become the world's leading suppliers of intelligent motors.

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