Global Vibration Motors Market to Grow at Over 13% CAGR through 2026
Published : 15 Nov 2017 Industry: Automotive
The global vibration motors market is likely to grow at a double-digit CAGR and reach nearly US$ 10 Bn in revenues by the end of forecast period 2017-2026. According to the report, demand for vibration motors is increasing on account of its wide-ranging applications in various end-use industries. The report offers market forecast and analysis on the global vibration motors market, giving users comprehensive insights and analysis on the key factors that are likely to fuel the growth of the market during the assessment period.
In a bid to give users, detailed insights and analysis on the global vibration motors market, the report has segmented the market on the basis of region, product type, application, motor type, and voltage rating.
On the basis of region, the report offers market forecast and analysis in North America, Latin America, Europe, Japan, Asia Pacific excluding Japan (APEJ), and Middle East & Africa (MEA). According to the report, APEJ remains one of the leading markets for vibration motors globally, and is likely to offer numerous growth opportunities to players during the forecast period. The market in Middle East & Africa (MEA) is likely to witness a robust CAGR, albeit it will grow from a small base. The market in North America is likely to offer a host of opportunities to global players, with US remaining at the forefront of demand.
On the basis of product type, the market has been segmented into eccentric rotating mass, encapsulated, brushed coin, PCB mounted, brushless coin, linear resonant actuators, and encapsulated. Brushed coin motors are likely to be one of the most lucrative product type segments. Demand is also likely to remain lucrative in brushless coin motors, although the revenues are not likely to be as formidable as brushed coin motors.
Demand for vibration motors is likely to remain strong in the consumer electronics industry, which accounts for a high percentage of demand for vibration motors globally. Vibration motors are used in a wide range of gadgets and products in the consumer electronics industry, on account of which, demand is likely to remain significant during the forecast period. In addition to consumer electronics, demand for vibration motors is also likely to grow on account of rising applications in industrial handheld tools.
The report also offers detailed segmentation on the basis of motor type, with DC motors likely to account for a high percentage of sales during the forecast period. On the other hand, sales of AC motors are likely to grow at a high CAGR during the forecast period.
On the basis of voltage rating, the market has been segmented into ‘less than 1.5 V, 1.5 V to 2 V, and above 2 V. Among these, demand for 2 V is likely to remain significant during the forecast period, and account for a high revenue share. According to the report, the 2 V segment is likely to surpass US$ 4.5 Bn in revenues by the end of 2026.
Key players profiled in the report include Denso, Mitsuba, Asmo, Nidec Corporation, Yaskawa, Mabuchi, LG Innotek, Shanbo Motor, Fimec Motor, and Sinano.