New York, United States, Dec. 01, 2023 (GLOBE NEWSWIRE) -- The Global Micro Motor Market Size is to Grow from USD 42.6 Billion in 2022 to USD 86.3 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.3% during the projected period.
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Micro motors, also referred to as miniature motors, are small electrical components that convert electrical energy into mechanical motion. Because of their small size, they can enter limited spaces and perform exact movements that larger motors cannot. Despite their diminutive size, they play a significant part in modern engineering and technology. Because of their inherent adaptability, micro motors have found a home in a wide range of applications. The consumer electronics industry is one of the most prevalent applications for micro motors. These motors power various components of smartphones, tablets, and wearable devices, allowing for functions such as vibration alerts and camera autofocus. Rising technological discoveries, rapid industrialization and urbanization, the drive for miniaturization across industries to produce small equipment, the advent of electric and self-driving vehicles, and precision manufacturing are just a few examples. The fast-growing trend of industrialization and infrastructure development in emerging economies is increasing demand for micro motors utilized in industrial machinery and systems. Furthermore, as technology progresses and more cost-effective manufacturing techniques become available, micro motors have become more widely available and affordable, making them suitable for a wide range of applications across a wide range of sectors.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on the "Global Micro Motor Market Size, Share, and COVID-19 Impact Analysis, By Type (AC Motor, DC Motor), By Power Consumption (Less Than 11V, 12-24 V, 25-48 V, More Than 48 V), By Application (Industrial Automation, Automotive, Electronic Appliances, Construction & Mining, 3D Printer Systems, Healthcare, Aerospace, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The DC motor segment is dominating the market with the largest revenue share over the forecast period.
On the basis of type, the global micro motor market is segmented into the AC motor, DC motor. Among these, the DC motor segment is dominating the market with the largest revenue share of 57.5% over the forecast period. DC motors have a high power density and are used in high-energy machinery as well as personal items such as hair dryers, electric toothbrushes, and electric razors. Because of their high starting torque, fast starting and reversing speeds, and reduced cost, DC motors are more durable than AC motors.
The less than 11V segment is expected to hold the largest share of the Global Micro Motor Market during the forecast period.
Based on the power consumption, the global micro motor market is classified into less than 11V, 12-24 V, 25-48 V, and more than 48 V. Among these, the less than 11V segment is expected to hold the largest share of the micro motor market during the forecast period. Various items that can function on low voltage have gained popularity, owing to the inexpensive cost and excellent performance of these micromotors. Low-voltage motors can be found in a wide range of items, including coffee makers, vacuum cleaners, air purifiers, mixers, food processors, and dryers.
The healthcare & automotive segment accounted for the largest revenue share of more than 37.6% over the forecast period.
On the basis of application, the global micro motor market is segmented into industrial automation, automotive, electronic appliances, construction & mining, 3D printer systems, healthcare, aerospace, and others. Among these, the healthcare & automotive segment is dominating the market with the largest revenue share of 37.6% over the forecast period. A significant driver of micro motor usage is the rising need and flexibility for features that include miniaturization, power efficiency, and greater durability in applications such as medical devices and automotive systems. Micro motors are used in flexible medical equipment, automated insulin pumps, cardiovascular monitors, hypoglycemic monitoring systems, tiny ECGs, and portable ultrasounds in the healthcare business.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 38.7% market share over the forecast period. This is due to the increased need for improved productivity and effectiveness from rising automation across numerous industries, which may be ascribed to growing automated technology penetration and strong manufacturing industries in countries such as China, Japan, South Korea, and India. Furthermore, the region's need for micro motors is being fueled by the region's increased adoption of Industry 4.0 and automation. On the other hand, North America is predicted to expand the fastest during the forecast period. The strong presence of key industry players, as well as the expanding automotive, aerospace, healthcare, and electronic appliances markets, are driving this expansion. Due to increased investments in industrial automation, the Europe market is likely to rise at a significant CAGR over the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Micro Motor Market include Maxon, ABB Ltd., Siemens AG, Nidec Corporation, Mabuchi Motor Co., Ltd., Constar Micromotor Co., Ltd., MITSUBA Corporation, Johnson Electric Holdings Limited, Robert Bosch GmbH, Denso Corporation, Arc Systems Inc., and among others.
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Recent Developments
- In August 2022, Johnson Electric Holdings Limited launched a steering wheel adjuster motor, which allows drivers to have a more comfortable driving experience by maintaining optimal driving posture. The most exact linear and height changes are possible with this automatic steering wheel adjuster motor. The "intelligent mode," which includes "welcome mode" and "one-button switching mode," helps the driver find the most comfortable driving position.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Micro Motor Market based on the below-mentioned segments:
Micro Motor Market, Type Analysis
- AC Motor
- DC Motor
Micro Motor Market, Power Consumption Analysis
- Less Than 11V
- 12-24 V
- 25-48 V
- More Than 48 V
Micro Motor Market, Application Analysis
- Industrial Automation
- Automotive
- Electronic Appliances
- Construction & Mining
- 3D Printer Systems
- Healthcare
- Aerospace
- Others
Micro Motor Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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