CHICAGO, Jan. 8, 2024 /PRNewswire/ -- Brushless DC Motor Market is expected to reach USD 17.6 billion by 2028 from USD 12.1 billion in 2023 at a CAGR of 7.9% during the 2023-2028 period according to a new report by MarketsandMarkets. The increasing adoption of Brushless DC motors is driven by their precise speed control, low maintenance requirements, and high efficiency. Brushless DC motors offer enhanced reliability, reduced electromagnetic interference, and compact designs, making them essential in applications where these attributes are critical, such as in medical devices, aerospace, and automation equipment.
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Brushless DC Motor Market Scope:
Report Coverage | Details |
Market Revenue in 2023 | $12.1 billion |
Estimated Value by 2028 | $17.6 billion |
Growth Rate | Poised to Grow at a CAGR of 7.9% |
Largest Market | Asia Pacific |
Market Size Available for | 2018-2028 |
Forecast Period | 2023-2028 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By type, speed, end-user, and region |
Geographies Covered | Asia Pacific, North America, Europe, Middle East & Africa, and South America |
Key Market Opportunities | Capitalizing on emerging markets |
Key Market Drivers | Increasing popularity of HVAC systems among consumers |
Inner Rotor, by type, are expected to grow by the largest segment during the forecast period.
Based on type, the Brushless DC Motor Market has been segmented into inner rotor and outer rotor. Inner rotor brushless DC motor are in high demand across a wide range of sectors due to its compact design, higher power density, and superior efficiency. Inner rotor motors offer faster response times and better heat dissipation, making them ideal for applications where space and weight are critical factors. Additionally, the inner rotor design allows for a direct connection to the load, enhancing overall system efficiency and performance, which contributes to its dominant market share.
The end user segment consumer electronics segment is expected to grow at the second fastest CAGR during the forecast period.
This report segments the Brushless DC Motor Market based on end user into consumer electronics, automotive, manufacturing, medical devices, and others. Others include HVAC, agricultural, solar pumps, and aerospace & defence applications. The consumer electronics segment is expected to be the second fastest-growing segment during the forecast period due to the increasing demand for energy-efficient and compact solutions in devices like smartphones, laptops, and household appliances. Brushless DC motors offer precise control, longer lifespan, and reduced noise, making them well-suited for applications in consumer electronics. As technology evolves and consumers prioritize high-performance and energy-efficient gadgets, the demand for brushless DC motors in this segment continues to surge, contributing to its rapid growth.
North America is expected to be the second largest region in the Brushless DC Motor Industry.
North America is expected to be the second-largest Brushless DC Motor Market during the forecast period. The North America region has been subdivided into three key countries: US, Canada and Mexico. The region's emphasis on automation in industries, such as manufacturing and healthcare, is driving the demand for efficient and reliable brushless DC motors. Additionally, the rising awareness of environmental sustainability has fueled the growth of electric vehicles, further boosting the demand for these motors. Favorable government initiatives and investments in renewable energy projects are also contributing to the region's prominence in the Brushless DC Motor Market.
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Key Players
Some of the major players in the Brushless DC Motor Companies are Ametek Inc. (US), Allied Motion, Inc. (US), NIDEC Corporation (Japan), MinebeaMitsumi Inc. (Japan), and Johnson Electric Holdings Limited (China). The major strategies adopted by these players include sales contracts, product launches, investments, collaborations, partnerships, and expansions.
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