The Global Micromotor Market size is expected to reach $68.6 billion by 2029, rising at a market growth of 7.6% CAGR during the forecast period
Industrial Automation is the major application of Micromotor as the need for compact, effective motors, such as micromotors, to power automated systems and machines, will rise as industrial automation develops further.
New York, June 19, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Micromotor Market Size, Share & Industry Trends Analysis Report By Application, By Type, By Technology, By Consumption, By Regional Outlook and Forecast, 2023 - 2029" - https://www.reportlinker.com/p06469131/?utm_source=GNW
Thus, industrial automation is expected to capture approximately 28% share of the market by 2029. Micromotors are a great option for a variety of industrial automation applications, including robotics, medical technology, and consumer electronics, owing to their precision and dependability. When compared to larger motors, micromotors are more accurate and efficient at controlling machinery because of their small size, which allows for better system integration. Some of the factors are impacting the market are rising prevalence of industrial automation, growing medical technology advancements, and high cost of cutting-edge services and technologies in micromotor manufacture.
The growing trend of industrial process automation is driving the demand for micromotors. Manufacturing sectors are concentrating on resource optimization, waste reduction, and productivity growth in order to maintain market competitiveness. The growing technical improvements in medical equipment are just one of the factors driving the demand. There is an increasing need for modern medical equipment that is more accurate and precise due to the prevalence of chronic diseases and rising healthcare expenses. All these developments are proportionally raising micromotor sales, and thus, boosting the growth of the market.
However, Micromotor manufacture demands specialized manufacturing techniques that can be expensive to create and maintain. Furthermore, the usage of cutting-edge materials is also required by the sector, which raises expenses even more. During the anticipated period, these elements will probably restrain the expansion of the market.
Application Outlook
Based on application, the market is characterized into automotive, healthcare, industrial automation, aircraft systems, construction & mining, agriculture equipment system, and others. The automotive segment procured a considerable growth rate in the market in 2022. Automotive manufacturers launch unique and advanced features every day while decreasing the sizes of any particular unit. In addition, the expanding trend of electrically adjustable wing mirrors, steering-mounted controls, automated climate control systems, and seat adjustment features is predicted to increase demand from this market.
Type Outlook
On the basis of type, the market is classified into AC motor and DC motor. The DC motor segment garnered a remarkable growth rate in the market in 2022. Speed control with DC motors is excellent. With this degree of controllability, DC motors provide the precision needed by a variety of industrial applications. Wide speed variations can be achieved by adjusting the field voltage or armature. The advantage of smooth operation is provided by the fact that DC motors work with high quantities of controllable power at a variety of speeds.
Technology Outlook
By technology, the market is divided into brushed and brushless. The brushed segment procured the maximum revenue share in the market in 2022. An axle, a commutator, a field magnet, and brushes are the components of brushed micromotors. The brushes in the commutator create a polarity that is contradictory to that of the field magnet, which causes the rotator or armature to rotate. The rotator may rotate in either a clockwise or a counterclockwise direction, simply switching the polarity of the brushes. The segment is growing due to the widespread use of brushed micromotors.
Power Consumption Outlook
Based on power consumption, the market is segmented into <11V, 12-24V, 25-48V, and >48V. The >48V segment witnessed a considerable growth rate in the market in 2022. The need for micromotors that run at voltages above 48 volts is anticipated to increase during the next few years. Applications requiring these micromotors’ high energy efficiency, accuracy, power output, durability, and other cutting-edge qualities. In heavy-duty industrial machinery where great power and durability are essential, like conveyors, cranes, as well as large-scale manufacturing equipment, they are widely used.
Regional Outlook
Region wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment garnered the largest revenue share in the market in 2022. Asian nations hold the top market positions mostly as a result of higher demand brought on by rising industrial process automation, increased manufacturing of medical equipment, and increased automotive sales. In addition, demand has grown in recent years in other nations like South Korea, Singapore, and Thailand. The demand in this region is also being driven by the increased implementation of Industry 4.0 and automation.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include MITSUBA Corporation, Nidec Corporation, Johnson Electric Holdings Limited, Mabuchi Motor Co., Ltd., Maxon Motor Ag, Constar Micromotor Co., Ltd., Bühler Motor GmbH, Siemens AG, ABB Group, and ARC Systems, Inc.
Strategies Deployed in Micromotor Market
Feb-2023: Nidec expanded its geographical footprint by commencing a new facility in Dalian, Liaoning Province, China. The new manufacturing facility would focus on manufacturing EMBs (electro-mechanical brakes), automotive motors, and EWPs (electric water pumps).
Oct-2022: Johnson Electric acquired an 80% stake in Pendix, a Germany-based manufacturer of motors intended for bicycles. This acquisition expands the acquiring company’s e-mobility offerings.
Jul-2022: Nidec established a new plant in Novi Sad, Serbia. The new facility would act as a business base to integrate the company’s manufacturing activities to streamline the supply of products in the European region.
Jun-2021: Mabuchi Motor acquired Electromag, a Switzerland-based manufacturer of brushless DC motors. Leveraging Electromag’s expertise and technologies would advance Mabuchi’s initiatives and further enables the company to realize its aim and management principle.
Oct-2020: ABB introduced eMart, an e-commerce platform offering made-in-India motors. The platform enables customers to purchase low-voltage motors, with simple delivery options. This e-commerce platform fills the gap between physical and digital buying experiences by providing detailed product descriptions, and images.
Apr-2020: Maxon introduced ECX Speed 4. The ECX Speed 4 is a part of the ECX series. The brushless DC motor features, a diameter of 4 millimeters, and are available in two versions, medium (M), and long (L).
Mar-2019: Maxon completed the acquisition of Parvalux Electric Motor, a UK-based manufacturer of electric motors. The addition of Parvalux Electric Motor adds significant value to Maxon’s product offerings and further enables the acquiring company to become a full-fledged complete systems provider.
Scope of the Study
Market Segments covered in the Report:
By Application
• Industrial Automation
• Healthcare
• Construction & Mining
• Aircraft Systems
• Agriculture Equipment System
• Automotive
• Others
By Type
• AC Motors
• DC Motors
By Technology
• Brushed
• Brushless
By Consumption
• 12-24 V
• <11 V
• 25-48 V
• >48 V
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• MITSUBA Corporation
• Nidec Corporation
• Johnson Electric Holdings Limited
• Mabuchi Motor Co., Ltd.
• Maxon Motor Ag
• Constar Micromotor Co., Ltd.
• Bühler Motor GmbH
• Siemens AG
• ABB Group
• ARC Systems, Inc.
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Read the full report: https://www.reportlinker.com/p06469131/?utm_source=GNW
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