The North America Smart Motors Market would witness market growth of 6.1% CAGR during the forecast period (2023-2030).
Smart motors play a crucial role in industrial automation systems, powering machinery, conveyors, robotic arms, and other equipment essential for manufacturing processes. They provide precise control over motion, speed, and torque, enabling efficient production, improved accuracy, and increased productivity on assembly lines and manufacturing floors. Heating, ventilation, and air conditioning (HVAC) systems in commercial and residential buildings utilize smart motors for efficient operation and energy management. It enables variable speed control, allowing HVAC systems to adjust airflow and temperature levels based on real-time demand, environmental conditions, and occupancy patterns, resulting in energy savings and enhanced comfort.
Additionally, wind turbines and solar panels leverage smart motors for precise tracking, positioning, and orientation control to maximize energy harvesting from renewable sources. It enables solar trackers to follow the sun’s movement throughout the day, optimizing solar panel efficiency. At the same time, wind turbines use smart motors to adjust blade pitch and rotor speed for optimal energy production in varying wind conditions. Furthermore, they are being incorporated into vacuum cleaners, refrigerators, dishwashers, and washing machines, among other home appliances, to provide increased performance, quieter operation, and energy economy. It enables variable speed control and adaptive load balancing in appliances like washing machines, reducing energy consumption and water usage while ensuring thorough cleaning.
The growing mining sector in Mexico expands the market potential for smart motors. As mining operations expand and new projects are undertaken, there’s a corresponding increase in the demand for smart motors across various applications within the mining industry. According to the International Trade Administration data, the value of Mexico’s mining industry in 2022 was USD 3.3 billion. About half of Mexico’s mining production consists of extracting precious metals, with the remaining output composed of 40 percent non-ferrous, six percent metallurgy, and seven percent non-metallic ores. In 2022, mining production reached USD 16.16 billion. In conclusion, the expansion of the mining sector and rising investments in the healthcare sector is propelling the market growth in the region.
The US market dominated the North America Smart Motors Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $695.5 Million by 2030. The Canada market is experiencing a CAGR of 8.5% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 7.5% during (2023 - 2030).
Free Valuable Insights: The Smart Motors Market is Predict to reach USD 3.3 billion by 2030, at a CAGR of 6.7%
Based on End-use, the market is segmented into Industrial, Automotive, Consumer Electronics, Aerospace & Defense, and Others. Based on Product, the market is segmented into 24V, 48V & above, 18V, and 36V. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Rockwell Automation, Inc.
- Moog, Inc.
- Fuji Electric Co. Ltd.
- ABB Ltd.
- Siemens AG
- Schneider Electric SE
- General Electric Company
- Dunkermotoren GmbH (Ametek, Inc.)
- RobotShop Inc.
- Roboteq, Inc. (Nidec Motor Corporation)
North America Smart Motors Market Report Segmentation
By End-use
- Industrial
- Automotive
- Consumer Electronics
- Aerospace & Defense
- Others
By Product
By Country
- US
- Canada
- Mexico
- Rest of North America
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Smart Motors Market, by End-use
1.4.2 North America Smart Motors Market, by Product
1.4.3 North America Smart Motors Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter Five Forces Analysis
Chapter 4. North America Smart Motors Market, by End-use
4.1 North America Industrial Market, by Country
4.2 North America Automotive Market, by Country
4.3 North America Consumer Electronics Market, by Country
4.4 North America Aerospace & Defense Market, by Country
4.5 North America Others Market, by Country
Chapter 5. North America Smart Motors Market, by Product
5.1 North America 24V Market, by Country
5.2 North America 48V & above Market, by Country
5.3 North America 18V Market, by Country
5.4 North America 36V Market, by Country
Chapter 6. North America Smart Motors Market, by Country
6.1 US Smart Motors Market
6.1.1 US Smart Motors Market, by End-use
6.1.2 US Smart Motors Market, by Product
6.2 Canada Smart Motors Market
6.2.1 Canada Smart Motors Market, by End-use
6.2.2 Canada Smart Motors Market, by Product
6.3 Mexico Smart Motors Market
6.3.1 Mexico Smart Motors Market, by End-use
6.3.2 Mexico Smart Motors Market, by Product
6.4 Rest of North America Smart Motors Market
6.4.1 Rest of North America Smart Motors Market, by End-use
6.4.2 Rest of North America Smart Motors Market, by Product
Chapter 7. Company Profiles
7.1 Rockwell Automation, Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 Recent strategies and developments:
7.1.5.1 Acquisition and Mergers:
7.1.6 SWOT Analysis
7.2 Moog, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.2.5 SWOT Analysis
7.3 Fuji Electric Co. Ltd.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 SWOT Analysis
7.4 ABB Ltd.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expense
7.4.5 SWOT Analysis
7.5 Siemens AG
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expense
7.5.5 SWOT Analysis
7.6 Schneider Electric SE
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expense
7.6.5 SWOT Analysis
7.7 General Electric Company
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expense
7.7.5 SWOT Analysis
7.8 Dunkermotoren GmbH (Ametek, Inc.)
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Research & Development Expenses
7.8.5 SWOT Analysis
7.9 RobotShop Inc.
7.9.1 Company Overview
7.9.2 SWOT Analysis
7.10. Roboteq, Inc. (Nidec Motor Corporation)
7.10.1 Company Overview
7.10.2 SWOT Analysis
TABLE 1 North America Smart Motors Market, 2019 - 2022, USD Million
TABLE 2 North America Smart Motors Market, 2023 - 2030, USD Million
TABLE 3 North America Smart Motors Market, by End-use, 2019 - 2022, USD Million
TABLE 4 North America Smart Motors Market, by End-use, 2023 - 2030, USD Million
TABLE 5 North America Industrial Market, by Country, 2019 - 2022, USD Million
TABLE 6 North America Industrial Market, by Country, 2023 - 2030, USD Million
TABLE 7 North America Automotive Market, by Country, 2019 - 2022, USD Million
TABLE 8 North America Automotive Market, by Country, 2023 - 2030, USD Million
TABLE 9 North America Consumer Electronics Market, by Country, 2019 - 2022, USD Million
TABLE 10 North America Consumer Electronics Market, by Country, 2023 - 2030, USD Million
TABLE 11 North America Aerospace & Defense Market, by Country, 2019 - 2022, USD Million
TABLE 12 North America Aerospace & Defense Market, by Country, 2023 - 2030, USD Million
TABLE 13 North America Others Market, by Country, 2019 - 2022, USD Million
TABLE 14 North America Others Market, by Country, 2023 - 2030, USD Million
TABLE 15 North America Smart Motors Market, by Product, 2019 - 2022, USD Million
TABLE 16 North America Smart Motors Market, by Product, 2023 - 2030, USD Million
TABLE 17 North America 24V Market, by Country, 2019 - 2022, USD Million
TABLE 18 North America 24V Market, by Country, 2023 - 2030, USD Million
TABLE 19 North America 48V & above Market, by Country, 2019 - 2022, USD Million
TABLE 20 North America 48V & above Market, by Country, 2023 - 2030, USD Million
TABLE 21 North America 18V Market, by Country, 2019 - 2022, USD Million
TABLE 22 North America 18V Market, by Country, 2023 - 2030, USD Million
TABLE 23 North America 36V Market, by Country, 2019 - 2022, USD Million
TABLE 24 North America 36V Market, by Country, 2023 - 2030, USD Million
TABLE 25 North America Smart Motors Market, by Country, 2019 - 2022, USD Million
TABLE 26 North America Smart Motors Market, by Country, 2023 - 2030, USD Million
TABLE 27 US Smart Motors Market, 2019 - 2022, USD Million
TABLE 28 US Smart Motors Market, 2023 - 2030, USD Million
TABLE 29 US Smart Motors Market, by End-use, 2019 - 2022, USD Million
TABLE 30 US Smart Motors Market, by End-use, 2023 - 2030, USD Million
TABLE 31 US Smart Motors Market, by Product, 2019 - 2022, USD Million
TABLE 32 US Smart Motors Market, by Product, 2023 - 2030, USD Million
TABLE 33 Canada Smart Motors Market, 2019 - 2022, USD Million
TABLE 34 Canada Smart Motors Market, 2023 - 2030, USD Million
TABLE 35 Canada Smart Motors Market, by End-use, 2019 - 2022, USD Million
TABLE 36 Canada Smart Motors Market, by End-use, 2023 - 2030, USD Million
TABLE 37 Canada Smart Motors Market, by Product, 2019 - 2022, USD Million
TABLE 38 Canada Smart Motors Market, by Product, 2023 - 2030, USD Million
TABLE 39 Mexico Smart Motors Market, 2019 - 2022, USD Million
TABLE 40 Mexico Smart Motors Market, 2023 - 2030, USD Million
TABLE 41 Mexico Smart Motors Market, by End-use, 2019 - 2022, USD Million
TABLE 42 Mexico Smart Motors Market, by End-use, 2023 - 2030, USD Million
TABLE 43 Mexico Smart Motors Market, by Product, 2019 - 2022, USD Million
TABLE 44 Mexico Smart Motors Market, by Product, 2023 - 2030, USD Million
TABLE 45 Rest of North America Smart Motors Market, 2019 - 2022, USD Million
TABLE 46 Rest of North America Smart Motors Market, 2023 - 2030, USD Million
TABLE 47 Rest of North America Smart Motors Market, by End-use, 2019 - 2022, USD Million
TABLE 48 Rest of North America Smart Motors Market, by End-use, 2023 - 2030, USD Million
TABLE 49 Rest of North America Smart Motors Market, by Product, 2019 - 2022, USD Million
TABLE 50 Rest of North America Smart Motors Market, by Product, 2023 - 2030, USD Million
TABLE 51 Key Information – Rockwell Automation, Inc.
TABLE 52 key information – Moog, Inc.
TABLE 53 Key Information – Fuji Electric Co., Ltd.
TABLE 54 Key Information – ABB Ltd.
TABLE 55 Key Information – Siemens AG
TABLE 56 Key Information – Schneider Electric SE
TABLE 57 Key Information – General Electric Company
TABLE 58 Key Information – Dunkermotoren GmbH
TABLE 59 Key Information – RobotShop Inc.
TABLE 60 Key Information – Roboteq, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 North America Smart Motors Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting Smart Motors Market
FIG 4 Porter’s Five Forces Analysis – Smart Motors Market
FIG 5 North America Smart Motors Market share, by End-use, 2022
FIG 6 North America Smart Motors Market share, by End-use, 2030
FIG 7 North America Smart Motors Market, by End-use, 2019 - 2030, USD Million
FIG 8 North America Smart Motors Market share, by Product, 2022
FIG 9 North America Smart Motors Market share, by Product, 2030
FIG 10 North America Smart Motors Market, by Product, 2019 - 2030, USD Million
FIG 11 North America Smart Motors Market share, by Country, 2022
FIG 12 North America Smart Motors Market share, by Country, 2030
FIG 13 North America Smart Motors Market, by Country, 2019 - 2030, USD Million
FIG 14 SWOT Analysis: Rockwell Automation, Inc.
FIG 15 SWOT Analysis: Moog, Inc.
FIG 16 SWOT Analysis: Fuji Electric Co., Ltd.
FIG 17 SWOT Analysis: ABB ltd.
FIG 18 SWOT Analysis: Siemens AG
FIG 19 SWOT Analysis: Schneider Electric SE
FIG 20 SWOT Analysis: General Electric Company
FIG 21 SWOT Analysis: Dunkermotoren GmbH
FIG 22 SWOT Analysis: RobotShop Inc.
FIG 23 SWOT Analysis: Roboteq, Inc.