Farmington, Jan. 16, 2023 (GLOBE NEWSWIRE) -- The global Micro Motors Market size was US$ 36,477.9 Million in 2022 and is expected to reach US$ 56,066.2 Million by 2030, with a CAGR of 4.1% from 2022 to 2030. The micro motors are smaller and lighter. Micromotors are mostly made to use less power and cause less electromagnetic interference. Micro motors work quickly, do a good job, and come with a lot of different power options. Micromotors can be used to drill, polish, grind, and do a lot of other things in the industrial world. There are two ways to run a micromotor: with brushes or without. Micromotors are used a lot in manufacturing and the aerospace industry. The micromotor has a power range of 1V to 60V.
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Micro motors are better than other motors because they can be controlled electronically, have a high ratio of power to weight, and move quickly. They are used in things like cars, printers, computer peripherals, disc drives, and portable power tools.
Micro Motors Market Recent Developments:
- In February 2021, Johnson Electric Holdings Ltd. announced the launching of a new series of low-voltage DC motors to implement in smart furniture applications.
- In December 2020, ABB Ltd. established a new global R&D center in Delft University's technology campus, Netherlands, to enhance advancement in next-gen solutions for e-mobility.
Micro Motors Market Segmentation Analysis:
Based on type, the AC segment made up more than three-quarters of the global micro motor market in 2021, and it is expected to stay at the top of the list during the forecast period. Between 2021 and 2030, the category is also expected to have the highest CAGR, at 4.5%. The segment is growing because they are used in applications that run at a constant speed and because they are more efficient than induction motors. The growth of the segment is also helped by the growing use of synchronous motors because they come in small sizes and by the low cost of permanent magnets.
In 2021, brushed motors made up more than half of the market for micromotors around the world, and it is expected that this market segment will continue to lead over the forecast period. Due to the benefits of brushed DC motors, like their simple design, low cost, ease of maintenance, low noise level, and high torque speed, the micromotor business is growing. On the other hand, there is less room for growth in brushless motors. Brushless micro motors are expected to be worth about US$ 38 billion by 2031, which is an increase of more than 240 BPS.
Automakers are the main customers of the automotive micromotor industry. A lot of the sector's work is also done by traders, distributors, and companies that sell car parts to manufacturers. Because more cars are being made around the world, the global market for automotive micromotors is expected to grow at a promising rate of around 7.44%. People want more high-tech features in their cars, which has led to the development of high-performance micromotors that can do things like move the air vents automatically, control the front and back mirrors, adjust the seat, clean the headlamps on the headrest and backrest, etc. These changes are making the market for micro motors bigger and making it easier to make a lot of them.
Regional Outlook:
Asia-Pacific has the largest share of the micro motor market because construction and mining are growing there. By 2022, the market for micro motors in the U.S. is expected to reach USD 5.7 billion. At the moment, the country has a 21% share of the global market. During the study period, China's economy is expected to grow at a compound annual growth rate (CAGR) of 5.2%. Growth: By 2030, the market is expected to be worth USD 8.91 billion. Japan and Canada are also important markets, with projected growth rates of 3.1% and 3.6%, respectively, over the course of the survey. In Europe, Germany is expected to grow at a CAGR of about 3%, while the study says that the Rest of Continental Europe will reach USD 9.7 billion by the end of the analysis period.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 4.1% from 2023 to 2030 |
| Market Size in 2022 | USD 36,477.9 Million |
| Revenue Forecast by 2030 | USD 56,066.2 Million |
| By Type | AC, DC |
| By Technology | Brushed Motor, Brushless Motor |
| By Power Consumption | Above 11v, 12v-24v, 25v-48v, Below 48v |
| By Applications | Automotive, Medical Equipment, Industrial Automation, Aircraft, Agricultural Equipment, Construction & Mining Equipment, 3D Printing |
| By Companies | Micro Motors market are Mitsuba Corporation, Nidec Corporation, Johnson Electric Holdings Limited, Mabuchi Motors, Abb Ltd, Wellings Holdings Ltd, Asmo Co Ltd., Constar, Maxon Motors Ag, Buhler Motors Gmbh, and others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Micro Motors Market Growth factor:
There is a huge need for small, highly effective equipment to make operations run as smoothly as possible. This can be traced back to the growing number of innovations in the auto industry and the rise of technologies like automation and 3D printing. With new products like the EVALSP820-Xs from STMicroelectronics, which make 3D printing more accessible by providing small, affordable solutions for rapid prototyping, the future of the micro motor industry looks bright. The self-locking torque of the Zhengke DC word geared micro motor stops the shaft from turning when the power is turned off. This makes it perfect for use in automatic doors, medical equipment, windows, and other electrical appliances.
One of the main things that is expected to help the micro motor market growth is the rise of industrial automation. This is mostly seen in the medical field, which is encouraging the use of automation to raise the bar for traditional medical service standards. Micro motors and other low-cost options can help labs automate their operations so they can test a large number of samples quickly and effectively. Micromotors are used in many fields, including medicine, chemical testing labs, molecular biology, and more. Because of this, manufacturers work hard to make micromotors that are dynamic and precise.
Because of the way the auto industry works, which allows automakers to combine style and convenience, micro motor companies might do well. The durable and inexpensive micro motor is also being used in growing industries like mining, construction, and healthcare. Manufacturers are working to make the micromotor smaller while improving its performance so that it will work better. Electric micromotors with high performance are now possible because of new technologies and the fact that manufacturers are using these cutting-edge methods.
Micro Motors Market Key Segments Covered:
Top Market Players:
Micro Motors market are Mitsuba Corporation, Nidec Corporation, Johnson Electric Holdings Limited, Mabuchi Motors, Abb Ltd, Wellings Holdings Ltd, Asmo Co Ltd., Constar, Maxon Motors Ag, Buhler Motors Gmbh, and others.
By Type
- AC
- DC
By Technology
- Brushed Motor
- Brushless Motor
By Power Consumption
- Above 11v
- 12v-24v
- 25v-48v
- Below 48v
On the Basis of Application:
- Automotive
- Medical Equipment
- Industrial Automation
- Aircraft
- Agricultural Equipment
- Construction & Mining Equipment
- 3D Printing
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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- Precision Electric Motors Market - The global precision electric motor market is to grow at a CAGR of 7.0% and reach USD 181.89 Billion during the forecast period of 2022-2030. The market was valued at USD 106.45 Billion in 2022. The region is projected to hold the highest position in the market during the forecast period, at USD 37.77 billion in 2020. This is due to the rapid urbanization of the country which has increased the demand for precision power in India and China.
- E-Bike Motors Market - The Global E-Bike Motor Market Was Valued At Around USD 2.5 Billion In 2022, And It Is Expected To Grow At A CAGR Of About 4.2% During The Forecast Period (2022 – 2030). In terms of geography, the APAC region has been considered the market leader for the global E-Bike motors market and is expected to continue to dominate during the forecast period. China is expected to witness a higher growth rate in the global E-Bike motor market due to high sales of E-Bikes.
- Electric Motors For Electric Vehicle Market - The Global Electric Motors for Electric Vehicle Market size was valued at USD 205.68 Billion in 2022 and is projected to reach USD 1365.88 Billion by 2030, growing at a CAGR of 26.7% from 2022 to 2030. Policies in Europe and China will boost the adoption of electric vehicles and, in turn, boost the massive growth of global electric motors in the electric vehicle market. Electrification of transportation systems in Europe and North America is also set to accelerate after 2020, driven by electric buses.
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