Global Micro Motor Market Growth, Share, Size, Trend, Region, Resin Type, Technology, Application, Forecast, 2022-2030
rise in demand for DC motors in HVAC, agriculture, and other applications, owing to features such as energy efficiency, variable speed, environment friendly
PORTLAND, UNITED STATES, October 7, 2022 /EINPresswire.com/ — The global Micro Motor market report offers the complete market share, size, and the growth rate of different segments at both the country and regional levels. It provides an in-depth study of the market subtleties such as the current trends, drivers, opportunities, and even the restraining factors. The report also highlights the qualitative aspects in the study. Additionally, the unit takes in the key findings, in terms of market overview and investment prospects. The market report also involves the competitive landscape containing the profiles of top ten major players in the industry. The frontrunners have been thoroughly assessed based on their revenue size, service/product portfolio, regional presence, key plans & policies, and overall contribution to the growth of the market.
The global micro motor market size was $ 36,477.9 million in 2020, and is expected to reach $56,066.2 million by 2030, with a CAGR of 4.1% from 2021 to 2030
Micro motor is lighter and compact in size. Micro motor is basically designed for low power consumption and minimize electromagnetic interference. Micro motor has features such as quick operation, superior performance, and broader power option. Micro motor finds applications in drilling, polishing, grinding, and various other industrial applications. Micro motor is available in both modes brushed as well as brushless. Micro motor is widely used in industrial and aerospace industry
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Covid-19 Scenario:
• Owing to temporary closure of manufacturing facilities and disruptions in the supply chain, the global Micro Motor market has been negatively impacted, especially in the initial period of the pandemic.
• Unavailability of raw materials and shortage of skilled labor force was a major challenge, which is why, carrying out manufacturing in full capacity was impossible.
• The demand from applications sectors reduced significantly due to stoppage of new construction, deployment, and maintenance activities during the lockdown. However, the demand is expected to regain during the post-lockdown.
Report coverage & details:
Segments covered
• Product Type
• Application
• End User
Regions covered
• North America (the U.S., Canada, and Mexico),
• Europe (Germany, the UK, France, Spain, Italy, and rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific)
• LAMEA (Latin America, the Middle East, and Africa)
Companies covered
• 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
• Siemens AG.
Key Segments Covered
By Application
• Industrial
• Automotive & Aerospace
• Healthcare
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In addition, micro motor is used in various industry verticals such as agriculture, medical, healthcare, and automotive, owing to rise in demand for motors. The healthcare industry in various countries such as the UK, the U.S., and India is growing at a significant pace, due to increase in investments in this sector by government. For instance, in 2018, the UK Government spent $252.9 billion on the healthcare industry. This is expected to drive the demand for brushless DC motors, owing to features such as energy efficient, high torque, and high rpm. Growth in demand for HVACs in the Middle East, especially in Gulf Cooperation Council (GCC) countries and increase in demand for HVAC in the UAE due to rise in focus to decrease the dependence on oil drive the growth of the micro motor market in this region. Additionally, events such as World Expo 2020 in UAE and FIFA World Cup 2022 in Qatar boost the demand for infrastructure and HVAC. This is expected to increase the demand for micro motor in the Middle East. All such instances drive the growth of the micro motor market.
David Correa
Allied Analytics LLP
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