PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401828
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401828
Micro Motor Market size was valued at USD 40,100 Million in 2022, expanding at a CAGR of 6.5% from 2023 to 2030.
A micro motor denotes a small-scale electromechanical apparatus converting electrical energy into mechanical motion, tailored for precision, efficiency, and high-performance scenarios prioritizing size, weight, and power. Operating on electromagnetic induction principles by generating rotational or linear motion through a magnetic field generated by current passing through coils, these compact motors serve diverse industries such as automotive, robotics, healthcare (e.g., medical devices like insulin pumps and surgical instruments), aerospace, electronics, and more. Their minute size and ability to deliver exact motion render them essential in devices requiring intricate movements or precise functionality. Ongoing technological advancements continually enhance micro motors, improving their efficiency, dependability, and adaptability across various applications.
Micro Motor Market- Market Dynamics
Technological advancements, rapid industrialization, urbanization, the pursuit of miniaturization for compact devices, the emergence of electric and autonomous vehicles, and precision manufacturing to propel market demand
Market growth is fueled by technological advancements, rapid industrialization, urbanization, the pursuit of miniaturization for compact devices, the emergence of electric and autonomous vehicles, and precision manufacturing. In healthcare, the shift toward advanced treatments like drug delivery systems, minimally invasive surgeries, dental implants, as well as diagnostic equipment drives micro motor demand. They are increasingly used in robotic surgical systems, facilitating precise and less invasive procedures. Moreover, high-resolution medical imaging systems like endoscopy and microscopy rely on micro motors for accurate positioning and focusing, further boosting market growth. The escalating need for automation in industrial processes presents a significant opportunity for micro motor market expansion. They play a pivotal role in powering motion and control for miniaturized robotic systems and automated equipment in factories. Additionally, micro motors are extensively integrated into various automobile components (fans, water pumps, wipers, ABS pumps, roofs, clutch actuators, alternators, condensers, steering wheels) to provide precise and efficient motion control, ensuring enhanced vehicle performance, safety, comfort, reliable actuation, and energy efficiency. Notably, micro motors also find application in agricultural equipment, 3D printers, and electronic appliances.
Micro Motor Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2023-2030)
Based on Product Type segmentation, DC micro was predicted to show maximum market share in the year 2022
Based on Power segmentation, below 11 V was the leading type in 2022
On the basis of region, North America was the leading revenue generator in 2022
The Global Micro Motor Market is segmented on the basis of Product Type, Application, Power, and Region.
The market is divided into two categories based on Product Type: AC micro motors and DC micro motors, the market shows a significant share held by DC micro motors in 2022, expected to exhibit significant growth at a notable CAGR across the forecast period. DC motors, renowned for their high power density, find application in various power tools along with personal appliances such as hair dryers, electric toothbrushes, and electric razors. Their robust nature, marked by high starting torque, reversible speeds, and cost-effectiveness compared to AC motors, underscores their prevalence. The DC micro motors segment further splits into two categories: brushless and brushed types.
The market is divided into four categories based on Power: below 11 V, 12-24 V, 25-48 V, and above 48 V, with the below 11 V segment dominating the market in 2022, poised for rapid growth in the forecast period. These micro motors, operating at lower voltages, witness increased adoption due to their cost-efficiency, leading to their integration into various products like vacuum cleaners, coffee machines, mixers, air purifiers, food processors, and dryers.
Micro Motor Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
The market presents significant fragmentation with a myriad of local and global players. Manufacturers are increasingly prioritizing research and development endeavors to refine their product lines, reduce costs, and gain a competitive edge in this price-sensitive landscape. Competitive pricing strategies are central to their approach, aiming to establish competitive prices against rivals while maximizing profitability. Key market players continuously introduce upgraded products. Companies in the micro motor sector can fortify their competitive advantage by employing strategies like competitive pricing, targeting specific market segments, product differentiation, and leveraging automation Product Type.
Mabuchi Motor Co. Ltd. unveiled three novel brushless motors in the IS series, specifically designed for electric vehicle applications like automated guided vehicles and autonomous mobile robots.
Nidec Corporation launched a cost-effective single-phase brushless DC motor tailored for electric fans, outperforming AC motors in performance.
The scope of this report covers the market by its major segments, which include as follows: