CHICAGO, April 19, 2023 /PRNewswire/ -- Micromotor Market is projected to grow from USD 44.8 billion in 2023 to USD 68.3 billion by 2028, at a CAGR of 8.8% during the forecast period, according to a new report by MarketsandMarkets. Micromotors have wide applications in automotives, medical equipment, agriculture equipment system, aircraft systems, industrial automation processes, etc. With the increase in demand for minituarization of components in automoives, medical devices, aerospace systems and and manufacturing operations, the market for micromotors is expected to rise in the coming years.
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Browse in-depth TOC on "Micromotor Market".
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Micromotor Market Scope:
Report Coverage | Details |
Market Size | $68.3 billion by 2028 |
Growth Rate | 8.8% of CAGR |
Largest Market | Asia Pacific |
Market Dynamics | Drivers, Restraints, Opportunities & Challenges |
Forecast Period | 2023-2028 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Application (Automotive, Medical Equipment System, Industrial Automation, Construction & Mining Equipment, Agriculture Equipment System), Type, Technology, Power Consumption & Region |
Geographies Covered | Asia Pacific, Europe, North America, and RoW |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunities | Rising advancements in medical equipment |
Key Market Drivers | Growing trend of industrial automation |
Industrial Automation is predicted to be the largest segment.
Due to their compact size, micromotors can be integrated into systems more effectively, providing enhanced accuracy and efficiency in machinery control compared to larger motors. As industrial automation continues to expand, there will be an increasing demand for small, efficient motors like micromotors to power the automated machinery and systems. The precision and reliability offered by micromotors make them an ideal choice for use in various applications in industrial automation, such as robotics, medical devices, and consumer electronics. Therefore, it is expected that the Micromotor Market will continue to grow as industrial automation becomes more prevalent.
Brushless micromotor is predicted to be the fastest growing segment.
As the need for energy-efficient technologies has increased, brushless micromotors have become more popular because they are more efficient than brushed micromotors. Brushless micromotors use less energy to produce the same amount of power, resulting in cost savings and reduced environmental impact. Even in some automotive applications such as windshield wipers, power windows, and power seat adjusters, brushless micromotors are preferred due to the demand for more efficient and dependable micromotor technologies. For applications that require precise control, like robotics and medical devices, brushless micromotors are a popular choice because they provide better speed and position control than brushed micromotors. Additionally, brushless micromotors have fewer moving parts than brushed micromotors, which means they require less maintenance and have a longer lifespan. This would bring an ideal growth perspective for brushless micromotors in multiple applications in the coming years.
Asia Pacific is expected to account for the largest share in 2023.
The Asia-Pacific Micromotor Market is being driven by advancements and developments in the field of manufacturing, automotives, medical, aerospace, agriculture, and construction and mining. Countries such as China, India, and Japan, among others, are the major contributors for the growth of micromotors in the region. The manufacturing industry in Asia Pacific is rapidly growing, particularly in countries like China, Japan, South Korea, and Taiwan. Apart from this, Asia Pacific countries have been investing heavily in research and development of new technologies. As a result, they have been able to produce high-quality micromotors at lower costs than other regions.
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Key Market Players:
Major players operating in the Micromotor Market are MITSUBA Corporation (Japan), Nidec Corporation (Japan), Johnson Electric Holdings Limited (China), Mabuchi Motor Co., Ltd. (Japan), Maxon (Switzerland) and Constar Micromotor Co., Ltd. (China).
Recent Developments:
- In February 2023, Mabuchi Motor Co., Ltd. launched a new range of DC brushless motors with features like an enhanced lineup, waterproof structure, and reduced vibrations. These motors can be used in speed reducers, electromagnetic brakes, and drive units.
- In December 2022, Nidec Corporation launched a single-phase brushless DC motor for electric fans. This newly developed motor costs less than traditional three-phase brushless DC motors while offering high energy efficiency, controllability, and other benefits.
- In August 2022, Johnson Electric Holdings Limited launched a steering wheel adjuster motor, which allows a comfortable drive experience for drivers with an appropriate driving posture. This automatic steering wheel adjuster motor offers optimum linear and height adjustments. The "intelligent mode," which features "welcome mode" and "one-button switching mode," helps the driver achieve the most comfortable driving posture.
- In March 2022, Nidec Corporation developed Slider, a thin linear vibration motor used in smartphones and smartwatches. The vibrations are used to notify users about incoming messages or calls on the device.
- In August 2021, Johnson Electric Holdings Limited launched the ECI-040 brushless DC motor platform. The product accepts direct mains AC power through the controller as input to simplify integration. The electronically commutated motor also offers better controllability, greater reliability, greater efficiency, and reduced noise. The motor offers strong and consistent torque output that is suitable for a variety of applications, such as window shutters, intelligent furniture, and coffee makers.
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