Brushless Micro Motors to Witness High Demand Over the Decade, States Fact.MR
Published : 16 Jul 2021 Industry: Industrial Goods
As per a revised report published by Fact.MR - a market research and competitive intelligence provider, the global micro motor market is expected to reach a market value of US$ 56.6 Bn by the end of 2031, and is likely proliferate at a CAGR of 4.5% over the coming ten years.
Adoption of new technologies such as automatic welding machines, robotic arms, and automatic wheelchairs has diversified the application of micro motors in various end-use industries. Moreover, the special features of micro motors make them ideal for use in modern electrical and electronic systems with limited space and power.
The global micro motor industry is consolidated at the top and fragmented at the bottom, due to small investments, less cost, and easy availability of skilled labour.
Key Takeaways from Market Study
- The global micro motor market is anticipated to offer an absolute dollar opportunity of US$ 20.5 Bn by 2031.
- Demand for DC micro motors is projected to increase at a CAGR of close to 5% over the next ten years.
- The automotive application segment is projected to gain 141 BPS and attain a market share of 27.5% by 2031.
- APEJ leads the global market accounting for over 1/3 revenue generation.
- China holds the highest market value of US$ 5.2 Bn in APEJ, and is expected to grow 1.7X by 2031.
- In MEA, Israel holds the lowest share and is foreseen to lose 59 BPS by 2031.
According to the Fact.MR analyst, “Demand for micro motors is mounting due to increase in automation along with high spending on gadget tools”.
Major corporations have been spending on research & development in order to create better options for the deployment of micro motors with longer lifespans and greater operational flexibility. In the medium- to long-term forecast period, these advancements will boost demand for micro motors across regions.
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global micro motor market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study divulges essential insights on the market on the basis of product type (DC micro motors and AC micro motors), power consumption (less than 12V, 12V-48V, and more than 48V), Application (automotive, medical equipment systems, industry automation, agriculture equipment systems, aircraft systems, construction & mining equipment systems, and 3D printing), and technology (brushed micro motors and brushless micro motors), across six major regions of the world (North America, Latin America, Europe, APEJ, Japan, and the Middle East & Africa).
About the Industrial Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Industrial Goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed industries across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Consultant - Industrial Goods