Micro Motor Market: Segmented: By Product Type (DC Micro Motors, AC Micro Motors), By Power Comsumption (Less than 12V Micro Motors, 12V-48V Micro Motors, More than 48V Micro Motors), By Technology (Brushed Micro Motors, Brushless Micro Motors), By Application (Automotive, Medical Equipment Systems, Industry Automation, Agriculture Equipment System, Aircraft Systems, Construction & Mining Equipment Systems, 3D Printing) And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
Micro Motor Market to surpass USD 57.5 billion by 2031 from USD 37.1 billion in 2021 at a CAGR of 4.5% in the coming years, i.e., 2021-2031.
Micro vehicle motor is a low-power DC motor that consumes less than 100 watts. Due to the unique and stringent needs for the working environment, car owners are particularly picky about micro motor quality. The quality of a motor is determined not only by its design structure and manufacturing process, but also by the mobility of magnetic material. Previously, the wiper, electric pumps, windshield scrubber, and automatic antenna components assembly were all powered by tiny motors. However, since the automotive industry is increasingly focused on automatic controls and passenger comfort, micro-motors have become an essential component in modern vehicles.
The market is likely to develop significantly in the next years as a result of the booming electronics industry, which is a positive indicator for micro motor sales given their wide range of applications. Micro motor integration in a variety of electronic goods, such as electronic locks, drones, fans, and many more, is expected to boost demand over the next decade.
Based on Technology, the global Micro Motor Market is fragmented into Brushed Micro Motors, Brushless Micro. The majority of micro motors used in automotive applications are brushed motors. Brushless motors, on the other hand, have a smaller growing potential. Brushless motors are being used in sectors that are relatively new for electric motors in automotive applications and have been rapidly growing in recent years, such as increasing sales of plug-in electric vehicles with electromechanically-driven powertrain and chassis systems, which are expected to provide greater growth potential for brushless motors than for brushed motors.
Based on Application, the global Micro Motor Market is fragmented into Automotive, Medical Equipment Systems, Industry Automation, Agriculture Equipment System, Aircraft Systems, Construction & Mining Equipment Systems, 3D Printing. The adoption of efficient devices such as pick & place, robotic arms, and automatic welding systems, among others, has been fueled by automation, and with the growing emphasis on smart manufacturing, the prospect for adoption of these field devices that are more efficient and productive is evident.
Increasing automation witnessed in different industries
One of the primary factors projected to promote the growth of the micro motor market is the increasing automation in industries. This is most evident in the medical industry, which is advocating the use of automation to improve traditional medical service standards. Laboratories can accomplish operational automation for tecting amounts of samples in a quick and efficient manner using cost-effective options such as micro motors.
Growing applications of micro motors in diverse sectors
The cost-effective and long-lasting micro motor is finding increasing use in the construction, healthcare, vehicle, and mining industries. Manufacturers are attempting to reduce the size of micromotors while improving operational quality in order to improve performance. The growth of advanced electric micro motors is now possible thanks to technological advancements and manufacturers' embrace of cutting-edge technologies.
High capital investment in Micro Motor is restraining the industry growth
The micro motor market is likely to be hampered by a slowdown in the automobile industry and costly initial capital investment. Furthermore, the increase in demand for micro motors from robotic systems and automated robot technologies is expected to give attractive chances for the micro motor market to expand.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Micro Motor Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Due to increasing demand and application from various industries and segments, increasing technological advancements and requirement from developing regions and countries, increasing applicability of micro motors with the advent of technology, and increasingly adopting automation processes in this region, Asia-Pacific dominates the micro motor market.
Due to the pandemic situation in 2020, the global demand for micro motors is expected to decline steadily as the coronavirus spreads. Even though demand for micro motors was dampened in Q3 and Q4 of FY2020 due to a shortage of supply chain capabilities, the market restarted its growth phase following Q2 FY21 as supply got more in line.
|Market size value in 2021
|USD 37.1 billion
|Revenue forecast in 2031
|USD 57.5 billion
|CAGR of 4.5% from 2021 to 2031
|Base year for estimation
|Revenue in USD million and CAGR from 2021 to 2031
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Product Type, Power Consumption, Technology, Application, and Region
|North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
|Key companies profiled
|Mabuchi Motor Co Ltd, Nidec Corporation, Buhler Motor GmbH, Johnson Electric Holdings Limited, Maxon Motor AG, Arc Systems Inc, ABB Group, Mitsuba Corporation, Constar Micromotor Co Ltd, and Siemens AG.
The Micro Motor Market size was estimated at USD 37.1 billion in 2020 and is expected to reach USD 57.5 billion by 2031.
Key players: Mabuchi Motor Co Ltd, Nidec Corporation, Buhler Motor GmbH, Johnson Electric Holdings Limited, Maxon Motor AG, Arc Systems Inc, ABB Group, Mitsuba Corporation, Constar Micromotor Co Ltd, and Siemens AG.
Brushed micro motors segment and Industry Automation segment
Increasing automation witnessed in different industries and Growing applications of micro motors in diverse sectors
Micro vehicle motor is a low-power DC motor that consumes less than 100 watts. Due to the unique and stringent needs for the working environment, car owners are particularly picky about micro motor quality. The quality of a motor is determined not only by its design structure and manufacturing process, but also by the mobility of magnetic material.
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