Canada Smart Motors Market Size & Outlook, 2023-2030

The smart motors market in Canada is expected to reach a projected revenue of US$ 381.0 million by 2030. A compound annual growth rate of 5.5% is expected of Canada smart motors market from 2024 to 2030.
Revenue, 2023 (US$M)
$261.8
Forecast, 2030 (US$M)
$381.0
CAGR, 2024 - 2030
5.5%
Report Coverage
Canada

Canada smart motors market highlights

  • The Canada smart motors market generated a revenue of USD 261.8 million in 2023 and is expected to reach USD 381.0 million by 2030.
  • The Canada market is expected to grow at a CAGR of 5.5% from 2024 to 2030.
  • In terms of segment, industrial was the largest revenue generating end use in 2023.
  • Industrial is the most lucrative end use segment registering the fastest growth during the forecast period.


Smart motors market data book summary

Market revenue in 2023USD 261.8 million
Market revenue in 2030USD 381.0 million
Growth rate5.5% (CAGR from 2023 to 2030)
Largest segmentIndustrial
Fastest growing segmentIndustrial
Historical data2018 - 2022
Base year2023
Forecast period2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationIndustrial, Automotive, Consumer Electrionics, Airospace & Defense, Other
Key market players worldwideRockwell Automation Inc, Moog Inc A, Fuji Electric Co Ltd, ABB Ltd, Siemens AG, Schneider Electric SE, GE Aerospace, Roboteq, AMETEK Inc


Other key industry trends

  • In terms of revenue, Canada accounted for 11.3% of the global smart motors market in 2023.
  • Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
  • In North America, U.S. smart motors market is projected to lead the regional market in terms of revenue in 2030.
  • U.S. is the fastest growing regional market in North America and is projected to reach USD 896.2 million by 2030.

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Smart Motors Market Companies

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Canada smart motors market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to smart motors market will help companies and investors design strategic landscapes.


Industrial was the largest segment with a revenue share of 36.33% in 2023. Horizon Databook has segmented the Canada smart motors market based on industrial, automotive, consumer electrionics, airospace & defense, other covering the revenue growth of each sub-segment from 2018 to 2030.


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  • Our clientele includes a mix of smart motors market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada smart motors market , including forecasts for subscribers. This country databook contains high-level insights into Canada smart motors market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Canada smart motors market size, by end use, 2018-2030 (US$M)

Canada Smart Motors Market Outlook Share, 2023 & 2030 (US$M)

Canada smart motors market size, by end use, 2018-2030 (US$M)

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