NOIDA, India, April 12, 2022 /PRNewswire/ -- A comprehensive overview of the Global Brushless DC Motor Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Brushless DC Motor Market in the Global context. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Global Brushless DC Motor Market at the regional & country levels. The Global Brushless DC Motor Market is expected to grow at a CAGR of 8% from 2021-2027 to reach USD 28 billion by 2027.
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Market Overview
Brushless DC motors are thermally resistant, require low maintenance, and operate at low temperatures, eliminating any threat of sparks. Furthermore, the market is driven by the rising activity in the Electric Vehicle (EV) industry, globally. The growing popularity of vehicle features, such as motorized seats, adjustable mirrors, and sunroof systems, is driving the demand for BLDC motors. For instance, as per IEA, more than 10 million electric cars were on the world's roads in 2020 and the same is set to grow at an expanded rate over the next 10 years.
COVID-19 Impact
The impact of the COVID-19 pandemic is being felt & has negatively impacted the global manufacturing industry and has led to the shutdown of industrial production units in several industries in the last few months. The demand curve for industrial equipment has taken a new shape, mainly in countries where the impact of COVID-19 is high.
The coronavirus pandemic has buffeted manufacturers in every sector. Companies serving industries that are thriving-technology, health care, and home repair and remodeling, among others-have, experienced a sharp increase in demand, while those that manufacture components for underperformers such as aviation, energy, and the automotive industry have languished. Meanwhile, almost all manufacturers have grappled with supply chain disruptions.
Similarly, the automotive industry felt very hard impacts in the early months of the global COVID-19 pandemic. The effects began in China, where sales plunged 71% in February 2020; by April, sales had dropped 47% in the United States and dived 80% in Europe.
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Global Brushless DC Motor Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily bifurcated into:
- Inner Rotor
- Outer Rotor
The Inner Rotor segment dominated the Brushless DC Motor Market and accounted for 81.5% market share. This segment will witness a considerable CAGR of 8.2% during the forecast period (2021-2027F) owing to its adoption of industrial robots due to a rise in the trend toward automation and technical improvements in industrial robots.
By Power Output, the market is primarily segmented into:
- 0-750 W
- 750 W - 3 KW
- 3 KW - 75 KW
- Above 75 KW
Based on Power output type, the market is segmented into 0-750 W, 750 W to 3 kW, 3 kW - 75 kW, & Above 75 kW. In 2020, the 0-750 W segment dominated the Brushless DC Motor Market and accounted for 35.5% market share. This segment will witness a considerable CAGR of 7.9% during the forecast period (2021-2027F) owing to the wide usage of these products in numerous applications, such as fans, pumps, compressors, machine tools, domestic appliances, electric cars, HVAC applications, power tools, and automated robots.
By End User, the market is primarily studied into:
- Consumer Electronics
- Automotive
- Manufacturing
- Medical Devices
- Others (including HVAC, agricultural, solar pumps, and aerospace & defense applications)
The Automotive segment generated revenue of USD 5.5 billion in 2020. The segment is expected to grow at a CAGR of 8.8% during the forecast period to reach a market valuation of USD 10.4 billion by 2027 as the automobile industry uses motors of different types and specifications for numerous applications.
Global Brushless DC Motor Market Region Segmentation Includes:
- North America
- Europe
- Asia Pacific
- Rest of World
Based on the estimation, Asia Pacific dominated the market in 2020 and is expected to maintain its dominance during the forecast period (2021-2027).
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The major players targeting the market include:
- AMETEK, Inc.
- Nidec Corporation
- Allied Motion Technologies Inc.
- Johnson Electric
- ABB Ltd.
- Buhler Motor GmbH
- Maxon Motor
- Regal Beloit Corporation
- MinebeaMitsumi Inc.
- Schneider Electric
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the global context. The specialist team of research analysts sheds light on various traits such as Global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Global Brushless DC Motor Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the Global Brushless DC Motor Market?
- Which factors are influencing the Global Brushless DC Motor Market over the forecast period?
- What are the global challenges, threats, and risks in the Global Brushless DC Motor Market?
- Which factors are propelling and restraining the Global Brushless DC Motor Market?
- What are the demanding global regions of the Brushless DC Motor Market?
- What will be the market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by the companies?
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