Newark, April 30, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 48.7 billion micro motor market will reach USD 116.3 billion by 2033. Small electrical motors that transform electrical energy into mechanical energy are known as micro motors. Direct current sources or alternative current sources are used to power these motors. Electric motors transform the energy they receive from electric generators into mechanical energy to operate the appliances on which they are installed. In contrast, electric generators operate along the same platform as electric generators but in reverse.
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For instance, mechanical energy in an electric generator is converted into electrical energy and then sourced out for the electrical appliances and motors. Rising demand and application from various industries and segments, rising technological advancements and demand from developing regions and countries, rising applicability of micro motor with the advent of technology, rising demand for micro motor is on a steady upturn, increasing adoption of automation processes, rising construction and mining activities, rising population, and demand for comfort and luxury features in automotive are among the major factors boosting the global micro motor market. Rising developing countries could emerge as potential markets, a crucial factor accelerating market growth.
Key Insight of the Micro Motor Market
Asia Pacific will account for the largest market size during the forecast period.
The strong presence of major industrial players and the growing markets for autos, healthcare, aeroplanes, and electrical appliances facilitate the expansion of the market in the region. For example, micromotors are used in power steering, HVAC systems, and electric windows by the California-based electric vehicle (EV) manufacturer Tesla. Owing to Tesla's creative application of electric vehicle technology, the North American automotive industry is seeing a sharp increase in demand for outstanding micromotor solutions. The region's high demand for electrical devices and personal hygiene goods also drives the necessity for micromotors.
The DC motor segment dominated the market with the most significant revenue of USD 28.24 billion.
The DC motor segment dominated the market with the most significant revenue of USD 28.24 billion. Because of the high-power density, DC motors are used in many personal appliances and power equipment, such as electric hair dryers, toothbrushes, and razors. In addition to having a higher starting torque and faster starting and reversing speeds, DC motors are more durable than AC motors and less expensive.
The below 11V segment dominated the market with the most significant revenue of USD 16.55 billion.
The below 11V segment dominated the market, with the most significant revenue of USD 16.55 billion. The low cost and excellent efficiency of 11V micromotors have increased the use of low-voltage devices. Some products that use low-voltage motors are food processors, coffee makers, air purifiers, mixers, and dryers.
The automotive segment dominated the market with the most significant revenue of USD 12.17 billion.
The automotive segment dominated the market with the most significant revenue of USD 12.17 billion. Numerous auto components require micromotors, such as powered window lifters, power seats, parking brakes, door lock actuators, door mirrors, and other autonomous systems. Anti-lock brake systems and other safety features also employ micromotors.
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Market Dynamics:
Drivers: Rising consumer electronics demand
Micro motors play a major role in the evolution of the robotics industry and the increasing acceptance of consumer electronics like smartphones, tablets, wearables, and smart appliances. These motors are used extensively for tasks like vibration, camera autofocus, and precise movement in robotics.
Restraint: Technological complexity
Research and development expenditures must be substantial to create sophisticated micromotors with increased accuracy and efficiency. Some businesses may need help to keep up with the quickly changing technological landscape.
Opportunity: Rising use of electric vehicles (EVs) and autonomous vehicles
The automobile industry's shift to electric vehicles and autonomous driving technologies will lead to a rise in the need for efficient and small micromotors for various functions within these vehicles, including HVAC systems, power windows, and seat adjustment.
Some of the major players operating in the micro motor market are:
● Bosch
● Abb Ltd
● Denso Corporation
● Mitsuba Corporation
● Allied Motion Technologies Inc.
● Constar Micromotor Co., Ltd.
● Faulhaber Group
● Mini Motor
● Nidec Corporation
● Mabuchi Motor Co Ltd
● Siemens Ag
● Maxon Motor Ag
● Johnson Electric Holdings Limited
● Portescap
● Arc Systems Inc.
● Bühler Motor GmbH
● Ebmpapst
Key Segments covered in the market:
By Type:
● DC Motor
● AC Motor
By Power Consumption:
● Above 48 V
● 25-48 V
● 12-24 V
● Below 11V
By Application:
● Industrial Automation
● Healthcare
● Automotive
● Electronic Appliances
● Aerospace
● Others
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About the report:
The global micro motor market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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