Small Motor Sales Upheld by Opportunities in Consumer Electronics and Upward Trend of Miniaturization: Fact.MR
Published : 27 Mar 2019 Industry: Automotive
According to the latest Fact.MR study, the small motors market is anticipated to register a Y-o-Y growth of just over 1% in 2019 over 2018. Fact.MR finds that the increasing inclination of consumers towards compact electronic devices is sustaining the demand for small motors.. However, slow traction in growth of the small motor market is expected to continue, which can be attributed in part to reluctance among industry players toward adoption of the technology.
Nascent Developments in Robotics to Uphold Demand for Small Motors
Advent of robotics and robots, which highly rely on small motors, have complemented the adoption of automation in various industries, ranging from aerospace and manufacturing, to consumer electronics. Pivotal role of small motors in robots, in terms of efficiency and synchronizing with variations in power requirement vis-à-vis applications, has been underpinning its sales in recent years.
There has been a marked rise in the demand for customized applications, which have been translating into the development of customized electric motors. Additionally, enhanced control and responsiveness, along with potential for producing torques in short spikes, are key properties of small motors that are expected drive its demand in the near future.
Opportunity Exists for Small Motors Manufacturers across Industries
Sales of small motors are expected to increase on account of their competency to resist drastic temperature changes, vibrations, and shock. In addition, compact size of small motors offers better volume-to-performance ratio with reduced noise levels, which is anticipated to further increase the incorporation in consumer electronic devices.
Application opportunities of small motors have increased across numerous industrial sectors, which has encouraged the players operating in the small motors industry to focus on developing motors with enhanced efficiency in terms of energy consumption and operations alike. Leading players in the market are seeking new ways for efficiency optimization, and offer products that performed beyond their warranted operational periods.
“Relatively long lifecycle of small motors offer reliability and longevity to the medical equipment, which is expected to drive their demand in the healthcare industry. Future growth prospects for small motors market remains promising in the healthcare and aerospace industries. The ongoing trend toward equipping aircraft cabins with more valuable features will create lucrative avenues of growth for the small motors market players in the near future.” says Fact.MR.
Consumer Appliances and Consumer Electronics to Hold Leading Shares in the Small Motors Market
According to the study, consumer electronics and consumer appliances segment collectively held over half share of the small motors market in 2017. Miniaturization has a significant influence on the demand & supply side trends of consumer appliances and consumer electronics, which in turn continues to impact growth of the small motors market.
Promising sales prospects of consumer electronics and appliances in the North America has meant that, demand for small motors in the region continues to remain significant. Additionally, surging focus on the development of a robust communication infrastructure in the region offers lucrative opportunities for the small motors market players in the region.
Demand for Vibration Motors Remains Relatively Higher
The study finds that the vibration motors will hold a considerable share in the small motors market. With the ubiquitous visibility of smartphones, smart watches, and similar hand-held devices, there has been a notable adoption of vibration motors, which receive signal without the generation of sound. Vibration motors sales are further expected to be underpinned by the growing trend of modernization of devices, whose designs include vibration feature as an integral requirement.
Fact.MR study on small motors market also provides a precise forecast of the small motors market for the period between 2017 and 2026. The small motors market is estimated to register a CAGR of 1.3% through 2026.