| Product Code: ETC4589065 | Publication Date: Jul 2023 | Product Type: Report | ||
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
The India smart motors market import shipment witnessed steady growth with a CAGR of 11.3% from 2020 to 2024. The momentum accelerated notably between 2023 and 2024, with a growth rate of 13.8%. The market has shown consistent expansion, indicating a strong and upward trend during the period.
Smart motors are gaining traction in India, especially in industries where motor-driven systems are integral. These motors offer advanced features such as remote monitoring, predictive maintenance, and energy efficiency optimization. As industries strive for greater automation and data-driven decision-making, the smart motors market is witnessing growth. Smart motors can provide valuable insights into motor performance and energy consumption, aligning with India emphasis on sustainability and efficiency.
The smart motors market in India is witnessing robust growth due to the need for automation and energy efficiency in various industries. Smart motors offer features like remote monitoring, predictive maintenance, and energy optimization, making them highly attractive for businesses aiming to reduce operational costs and enhance productivity. As industries in India continue to modernize, the adoption of smart motors is expected to rise significantly.
The smart motors market in India faces challenges linked to technology adoption and awareness. The adoption of smart motors requires an understanding of their benefits, such as energy savings and predictive maintenance capabilities. The market must also address issues related to compatibility and integration with existing industrial systems. Moreover, promoting awareness about the potential cost savings and efficiency improvements offered by smart motors is crucial, as many organizations may be hesitant to invest in new technologies without clear returns on investment.
The pandemic accelerated the adoption of smart motor technologies in industrial and commercial applications. The need for remote monitoring and control drove demand. This trend is expected to continue as companies prioritize operational efficiency.
In the smart motors market in India, notable players include ABB Ltd, Siemens AG, Schneider Electric, and Toshiba Corporation. These companies offer innovative motor solutions with embedded intelligence for improved performance and energy efficiency.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Smart Motors Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Smart Motors Market Revenues & Volume, 2021 & 2031F |
3.3 India Smart Motors Market - Industry Life Cycle |
3.4 India Smart Motors Market - Porter's Five Forces |
3.5 India Smart Motors Market Revenues & Volume Share, By Component, 2021 & 2031F |
3.6 India Smart Motors Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 India Smart Motors Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing adoption of IoT and connected devices in industrial applications |
4.2.2 Government initiatives promoting energy efficiency and smart technologies |
4.2.3 Growing demand for automation and robotics in manufacturing processes |
4.3 Market Restraints |
4.3.1 High initial investment costs for smart motor systems |
4.3.2 Lack of awareness and expertise in implementing smart motor technologies |
4.3.3 Concerns regarding data security and privacy in connected systems |
5 India Smart Motors Market Trends |
6 India Smart Motors Market, By Types |
6.1 India Smart Motors Market, By Component |
6.1.1 Overview and Analysis |
6.1.2 India Smart Motors Market Revenues & Volume, By Component, 2021-2031F |
6.1.3 India Smart Motors Market Revenues & Volume, By VSD, 2021-2031F |
6.1.4 India Smart Motors Market Revenues & Volume, By MCC, 2021-2031F |
6.1.5 India Smart Motors Market Revenues & Volume, By Motor, 2021-2031F |
6.2 India Smart Motors Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 India Smart Motors Market Revenues & Volume, By Industrial, 2021-2031F |
6.2.3 India Smart Motors Market Revenues & Volume, By Commercial, 2021-2031F |
6.2.4 India Smart Motors Market Revenues & Volume, By Automotive, 2021-2031F |
6.2.5 India Smart Motors Market Revenues & Volume, By Consumer Electronics, 2021-2031F |
6.2.6 India Smart Motors Market Revenues & Volume, By Aerospace & Defense, 2021-2031F |
7 India Smart Motors Market Import-Export Trade Statistics |
7.1 India Smart Motors Market Export to Major Countries |
7.2 India Smart Motors Market Imports from Major Countries |
8 India Smart Motors Market Key Performance Indicators |
8.1 Energy efficiency improvement rate in industries adopting smart motors |
8.2 Rate of adoption of IoT-enabled smart motor systems in manufacturing sector |
8.3 Number of government policies and incentives supporting smart motor technologies |
9 India Smart Motors Market - Opportunity Assessment |
9.1 India Smart Motors Market Opportunity Assessment, By Component, 2021 & 2031F |
9.2 India Smart Motors Market Opportunity Assessment, By Application, 2021 & 2031F |
10 India Smart Motors Market - Competitive Landscape |
10.1 India Smart Motors Market Revenue Share, By Companies, 2024 |
10.2 India Smart Motors Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |