Utilization of micro motor in various industry verticals and minimal maintenance cost of motors drive the growth of the micro motor market.
PORTLAND, Ore., Aug. 10, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Micro Motor Market by Type (AC and DC), Technology (Brushed Motor and Brushless Motor), Power Consumption (Less Than 10V, 10V-20V, and More Than 20V), and Application (Industrial, Automotive & Aerospace, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global micro motor industry generated $36.47 billion in 2020, and is estimated to generate $56.06 billion by 2030, witnessing a CAGR of 4.1% from 2021 to 2030.
Prime determinants of growth
Utilization of micro motor in various industry verticals and minimal maintenance cost of motors drive the growth of the micro motor market. However, slow-down in the automotive industry and high initial capital investment hamper the growth to certain extent. Nevertheless, increase in demand for micro motor from robotics and automated robot technologies is expected to provide lucrative opportunities for the growth of the micro motor market.
Download Sample PDF (267 Pages with More Insight):
https://www.alliedmarketresearch.com/request-sample/12548
Covid-19 Scenario
- The outbreak of covid-19 negatively impacted the market. The manufacturing facilities were suspended during lockdown. Also, the restrictions disrupted the supply chain.
- The declined demand from the end-using industries including automotive and agriculture further affected the market.
- Nevertheless, the government bodies have issued relaxations across the globe, and the market is, therefore, expected to recoup soon.
The AC segment to maintain its leadership status throughout the forecast period
Based on type, the AC segment held the highest market share in 2020, accounting for more than three-fourths of the global micro motor market, and is estimated to maintain its leadership status throughout the forecast period. In addition, the segment is also projected to manifest the highest CAGR of 4.3% from 2021 to 2030. The fact that they offer better efficiency over induction motors, and are used in applications operating at constant speed drive the growth of the segment. In addition, increase in adoption of synchronous motors owing to its availability in small sizes, and low prices of permanent magnets further contribute toward the growth of the segment.
The brushed motor segment to maintain its lead position during the forecast period
Based on technology, the brushed motor segment accounted for the largest share in 2020, contributing to more than half of the global micro motor market, and is projected to maintain its lead position during the forecast period. Furthermore, the segment is also expected to cite the largest CAGR of 4.3% from 2021 to 2030. Benefits associated with brushed DC motor such as simple design, cost effective, low maintenance, low noise level, and high torque speed, fuels the growth of the micro motor market.
Get detailed COVID-19 impact analysis on the Micro Motor Market:https://www.alliedmarketresearch.com/request-for-customization/12548
Asia-Pacific, followed by North America to maintain its dominance by 2030
Based on region, Asia-Pacific, followed by North America, held the highest market share in terms of revenue in 2020, accounting for more than two-fifths of the global micro motor market, and is expected to maintain its dominance by 2030. The region, furthermore, is also projected to manifest the fastest CAGR of 4.5% during the forecast period. Micro motors are widely used in fans, pumps, compressors, wheel rotors, hand tools, battery power tools, and agricultural applications in Asian Countries. Also, the presence of numerous tool manufacturers for automotive industries in Japan and China further boost the growth of the market.
Leading Market Players
- Arc Systems Inc
- ABB Group
- Mitsuba Corporation
- Constar Micromotor Co Ltd
- Siemens AG.
- Mabuchi Motor Co Ltd
- Nidec Corporation
- Buhler Motor GmbH
- Johnson Electric Holdings Limited
- Maxon Motor AG
Interested in Procure Data? Visit Here: https://www.alliedmarketresearch.com/purchase-enquiry/12548
Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request for 14 days free trial of before buying:
https://www.alliedmarketresearch.com/avenue/trial/starter
Similar Reports We Have:
Robotic Drilling Equipment Market - The robotic drilling equipment is expected to reach $1,017.4 million by 2027, registering a CAGR of 8.4% from 2020 to 2027.
Permanent Magnet Synchronous Motor Market - Permanent Magnet Synchronous Motor (PMSM) Market is expected to garner $31.1 billion by 2022, registering a CAGR of 10.9% during the forecast period 2016-2022.
Industrial Smart Motors Market - The global industrial smart motors market is expected to reach $1,809.1 million by 2025, growing at a CAGR of 5.28% during the forecast period 2018-2025.
Brushless DC Motors Market - The global brushless DC motors market is expected to reach $68,836.2 million in 2028, from $35,158.6 million in 2020, growing at a CAGR of 8.5% from 2021 to 2028.
Axial Piston Hydraulic Motors and Pumps Market - Global axial piston hydraulic motors and pumps market is projected to reach $1,882 million by 2022 at the CAGR of 4.2% during the forecast period.
Pre-Book Now with 10% Discount:
Air Motor Market - Global Opportunity Analysis and Industry Forecast, 2020-2027
Electronically Commutated Motors Market - Global Opportunity Analysis and Industry Forecast, 2020 -2027
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow us on: LinkedIn
Twitter
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
