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Micro Motor Market

Micro Motor Market

Micro Motor Market By Product Type (DC Micro Motor, AC Micro Motor), By Power Consumption (Less than 12V, 12V-48V), By Technology (Brushed Micro Motor, Brushless Micro Motor), By Application (Automotive, Aircraft Systems, Industry Automation)- Global Market Insights 2021 to 2031

Micro Motor Market
FACT95MR

Market Snapshot

Newly-released micro motor market analysis shows that global demand enjoyed year-on-year (YoY) growth of 4.2% in 2021, to total a valuation of around US$ 36 Bn. Sales of DC micro motors displayed positive growth at 4.3% to total a market valuation of around US$ 27 Bn, while sales of AC micro motors were up 3.9% to reach US$ 8.6 Bn.

Key Points Covered in Micro Motor Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • Mitigation in Operational or Maintenance Cost, Cost Benefits, etc.
  • Demand for Micro Motors for Medical Equipment
  • Demand for Micro Motors for Industrial Automation
  • Demand of 3D Printing Micro Motors
  • New Installations / Sales including Retrofit of Micro Motors
  • Assessment of Unit Shipments, Installation, and Assembly Price
  • COVID-19 Impact on Micro Motor Sales and How to Navigate
  • Recommendation on Key Winning Strategies

Revenue Analysis of Micro Motors from 2016 to 2020 Compared to Demand Outlook for 2021 to 2031

Fact.MR, a market research and competitive intelligence provider scrutinizes the micro motor market. Historically, 2016 to 2020, global market valuation increased at 1.4% CAGR, wherein, the U.S., Germany, China, Japan, India, and South Korea hold significant revenue share in the global market.

With end users’ increasing worries about cost reduction in electronics equipment, demand for micro motors is expected to rise at a substantial CAGR of 4.5% over the next decade.

  • Global automotive micro motor market is projected to reach US$ 56.6 Bn in terms of value by the end of 2031.
  • APEJ is projected to create the highest absolute $ opportunity in terms of value - US$ 8 Bn.
  • APEJ and North America contribute significantly to market growth and account for around 34.6% and 23% market share, respectively.
  • Sales of DC micro motors likely to accelerate at the highest pace.
  • Top 5 providers of micro motors held around 25% market share in 2020.
  • While demand was adversely impacted by COVID-19, over the decade, long-term forecasts seems bright, especially from electronics and automotive industries.

Will Versatility of Micro Motors to Be Utilized across Multitude Avenues Trigger Demand Growth?

Versatility of being utilized across multitude avenues in numerous industries, including automotive, medical equipment, industry automation, agriculture equipment, aircraft systems, construction & mining equipment, 3D printing, and a few more is expected to drive market growth.

Versatility of micro motors also diversifies the risk factor of recession in a particular industry or sector, which tends to supplement the growth curve to remain in an upward trend.

It has been observed since last two decades that the electronics industry has portrayed exponential growth and presumed to be remain the same over the next ten years. Surging electronics industry is an evident sign for micro motor sales, owing to their diverse applications.

Integration of micro motors across multiple electronic appliances, including drones, fans, electronic locks, and many more is likely to lend impetus to demand over the decade. In addition, less power consumption tends to make these more preferential among electronic gadget manufacturers.

Growing expenditure of hospitals on patient services for cardiac disease and increasing number of patients undergoing cardiac treatment are significantly increasing demand for catheterization. Spending on healthcare services is rising through governments or the private sector, which is fueling demand for balloon catheters, thereby driving sales of micro motors proportionally.

mirco motor market forecasts by FactMR

Which Prominent Technological Advances are Likely to Drive Demand for Micro Motors?

One of the prominent aspects of micro motors is their ability to integrate in compact and complex places with varied power sources from 5 volts to 48 volts, such as in advanced electrical and electronic components. Due to their light weight and small construction, they are well-suited to deploy in compact places.

Piezoelectric ultrasonic motors are preferred as high-performance motors owing to their high torque density with a blend of simple components. Piezoelectric ultrasonic motors offer comparatively high efficiency and torque, and their demand will rise on the back of a growing electronics industry.

How is Surging Demand for UAVs & Aircraft Systems Likely to Bolster Growth Rate of Micro Motors?

Demand for drones is gradually picking pace from multiple applications. Drones are one of the best-suited equipment for surveillance, which has been proven multiple times in the past over various instances. Defense and armed forces have extensive application of drones that can serve multiple purposes such as monitoring and surveillance.

Drones have been extensively utilized in freight deliveries owing to high efficiency and comparatively less time required over conventional modes. This enables increased penetration of drones in freight loading. Drones are amply deployed across multiple sectors to deliver goods such as food and parcels.

High RPM motors are trending due to their performance and applicability. Various industries such as drones and aeronautics require high RPM motors for their specific requirements. Elevating drone and aircraft systems market over the past decade is likely to contribute to increased sales of micro motors.

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Which are the Restraints that Micro Motor Manufacturers Encounter?

Micro motors have a small lifespan due to impact on reliability, and simultaneously increases the need to change the motor at smaller time intervals. Repetitive changing of motors in various electronics and other equipment leads to a shift towards other prominent substitute products, which may potentially pull down the annual revenue bar of the market over the forecast period.

Prices of raw materials have been revised by potential suppliers over the past half-decade, considering various external factors. Surge in the cost of raw materials, including copper, steel, and bearings, will impact on the overall cost of micro motors.

Nearly 62% of the total cost accounts for the procurement of raw material, and thus, continuously elevating raw material prices may lead to an adverse impact on the sales volume of micro motors.

Which Regions Offer Lucrative Opportunities for Micro Motor Suppliers?

APEJ is expected to incline at nearly 5% CAGR and is foreseen to corner 36% market share by 2031. China is expected to be the most promising country in APEJ and hold more than 40% market.

Latin America, Japan, and the Middle East & Africa collectively account for nearly 16% of global value share, including countries such as Brazil, Argentina, Mexico, South Africa, Israel, and Nigeria. These countries are expected to foresee a moderate growth rate during the assessment period.

Regions such as Europe and North America are expected to be most prominent destinations, including countries such as the U.S, Canada, Germany, France, Spain, Italy, and U.K., which are expected to witness a significant growth and capture more than 45% market share by the end of 2031.

mirco motor market regionby FactMR

Country-wise Analysis

Why is China a Pivot Point for Micro Motor Manufacturers?

Manpower in China is cheaper than most of prominent countries, with a blend of economical and ease in availability of raw materials. Owing to this, China is first on the priority list of key players across the globe. Consumption of micro motors also seems to be elevated due to surging demand from end-use industries.

China is presumed to be one of the manufacturing giants in the world. Owing to this, demand from end-use industries, including aircraft systems, construction equipment, etc., is comparatively high. Moreover, certain regional government policies towards manufacturing and industrialization are likely to aid the growth trajectory over the forecast period.

How Has Micro Motor Demand Been Shaping across Established & Emerging Markets?

Japan: Owing to technological advancements, Japan holds a notable value market share of around 4% on a global scale. Japan has several key players such as Nidec Corporation, Mitsuba Corporation, Mabuchi Motors, and few more, which are expected to uplift its growth line.

Germany: Germany is one the most prominent countries in Europe, and drew the market at 4.3% year on year growth in 2021. Germany captured a dominant market share in Europe of more than 40% in 2021.

U.K: The U.K is also expected to be one of the most lucrative regions in Europe, after Germany. The U.K is presumed to corner around 24% share in the European market, and is estimated to be valued around US$ 3.4 Bn by 2031.

India: Several regional government policies towards the manufacturing sector in view of strengthening industrialization, demand for micro motors is surging in India. The market is forecast to register a healthy growth rate of around 5.5% CAGR over the assessment period.

U.S.: The U.S. is one of the prominent countries responsible for generating demand owing to mature end-use industries and infrastructural developments. The U.S is expected to account for nearly 83% of the North American market by the end of 2031.

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Category-wise Insights

Why are Brushless Micro Motors Witnessing High Demand across the World?

Demand for brushless micro motors is estimated to be valued around US$ 38 Bn with a gain of more than 240 BPS by 2031.

Brushless micro motors offer various advantages over brushed micro motors, such as high efficiency producing more torque per watt, reduced noise, comparatively longer lifetime, high torque to weight ratio, and absence of ionizing spark from commutators. As such, demand for brushless micro motors is set to increase rapidly.

Which Application of Micro Motors is Expected to Drive Most Revenue Potential?

The automotive segment seems to be most prominent, expected to corner around 28% of global market share.

Surging trend of steering mounted controls, electronically adjusted wing mirrors, automatic climate controls, and seat adjustment features are set to drive demand from this sector, at around 5% CAGR.

Competitive Landscape

Moreover, prominent players seem to be most interested in acquisitions, collaborations, capacity expansion, and building global distribution and sales networks.  

Some of the key developments are:

  • In December 2020, ABB Ltd opened a new global R&D centre in Delft University’s technology campus, Netherlands, with an investment of US$ 10 Mn, to empower next-gen solutions for e-mobility.
  • In February 2021, Nidec announced the acquiring of shares of Mitsubishi Heavy Industries Machine Tool Co., Ltd.
  • In March 2021, The Maxon Group increased its presence in France. The company is investing EUR 10 million in a new Innovation and Production Center in Beynost, near Lyon.
  • In February 2021, Johnson Electric Holdings Limited announced a new series of low voltage DC motors for smart furniture applications.

Similarly, recent developments related to companies offering micro motors have been tracked by the team at Fact.MR, which are available in the full report.

Micro Motors Market Report Scope

Report Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

Units for Value US$ Mn

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • APEJ
  • Japan
  • Middle East & Africa

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Australia
  • New Zealand
  • Turkey
  • South Africa
  • GCC Countries

Key Market Segments Covered

  • Product Type
  • Power Consumption
  • Application
  • Technology
  • Region

Key Companies Profiled

  • ABB Ltd.
  • NIDEC Corporation
  • Mabuchi Motors 
  • Buhler Motors GmbH 
  • Maxon Motors AG 
  • CONSTAR Motor
  • Johnson Electric Holdings Limited
  • Mitsuba Corporation

Pricing

Available upon Request

Interested to Procure The Data

Market Segments Covered in Micro Motor Industry Research

  • By Product Type

    • DC Micro Motors
    • AC Micro Motors
  • By Power Consumption

    • Less than 12V Micro Motors
    • 12V-48V Micro Motors
    • More than 48V Micro Motors
  • By Application

    • Micro Motors for Automotive
    • Micro Motors for Medical Equipment Systems
    • Micro Motors for Industry Automation
    • Micro Motors for Agriculture Equipment System
    • Micro Motors for Aircraft Systems
    • Micro Motors for Construction & Mining Equipment Systems
    • Micro Motors for 3D Printing
  • By Technology

    • Brushed Micro Motors
    • Brushless Micro Motors

- FAQs -

The global micro motor market is worth more than US$ 36 Bn at present.

Sales of micro motors are projected to increase at a CAGR of 4.5% during 2021 – 2031.

Value sales of micro motors increased at a CAGR of 1.4% during 2016 – 2020.

Demand for piezoelectric micro motors is seen to be soaring owing to their efficiency.

Growing demand for electronics equipment across multitude avenues stands as the core driver for the market.

Top 5 manufacturers of micro motors account for around 25% share in the market.

Top 5 countries driving demand for micro motors are the U.S., Germany, China, Japan, and India.

North America accounted for over 23% global demand in 2020.

The United States, Germany, and China are key producers of micro motors.

The market in Japan is set to expand at over 4% CAGR, accounting for 4% share in the global market.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

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