Dublin, Oct. 25, 2024 (GLOBE NEWSWIRE) -- The "Global Electric DC Motors Market (2024 Edition): Analysis By Motor Type (Brushless and Brushed), By Speed, By Application, By Region, By Country: Market Insights and Forecast (2020-2030)." report has been added to ResearchAndMarkets.com's offering.
The global demand for Electric Direct Current (DC) motors continues to soar with the industry seeing a significant compound annual growth rate (CAGR) of 8.16% from 2020 to 2023. This growth trajectory is anticipated to boost the market value from USD 15.88 billion in 2023 to a substantial USD 29.05 billion by the year 2030. Such expansion is attributed to the motors' paramount role in a myriad of applications and the emphasis on energy efficiency, which are shaping industries worldwide.
Rise of Brushless DC Motors
Within the sector, the advent of brushless DC motors (BLDC) marks a substantial breakthrough, propelling their usage in various high-performance applications. By eliminating the brushes, BLDC motors present an enhanced lifespan, superior efficiency, and higher power density, catering to a range of industries from automotive to aerospace. The trend suggests a gradual shift towards these brushless alternatives, as they continue to redefine market standards for performance and energy conservation.
Smart Cities and IoT: Catalysts for Demand
The proliferation of smart city developments and the deep integration of the Internet of Things (IoT) across industries are burgeoning the Electric DC Motors market's portfolio. With IoT devices and smart infrastructures relying heavily on DC motors, the advancement of urban automation and connectivity is promoting a spike in demand for these motor types.
Impacts from Renewable Energy Integration
Renewable energy systems, particularly solar and wind, are becoming increasingly reliant on DC motors for optimizing performance and energy generation. The pressing global need for sustainable energy solutions underscores the vital role of DC motors, thereby contributing to the ascent in market demand.
Consumer Electronics Fueling Growth
The surging production of consumer electronics is another key element driving the DC motors market. From everyday appliances to smart home devices, the integration of DC motors continues to support the evolution and functionality of a wide gamut of consumer products.
Industrial Automation: A Steady Force for Development
Automation remains a steadfast force in the progression of the DC motors market, with myriad applications in conveyor systems, robotics, and production machinery. The ongoing trend towards smart manufacturing equates to a heightened need for precise and reliable DC motors.
Market Scope and Competitive Landscape
The market scope covers a comprehensive analysis by motor type, speed, and application, while also dissecting geopolitical regions and countries which are paramount to the Electric DC Motors industry. The competitive landscape is consistently evolving, with key players engaging in strategic initiatives and product innovation to solidify market presence and address the anticipated surge in demand. This ongoing industrial activity and strategic market positioning underscore the significant potential of the Electric DC Motors market as it propels into the next decade.
With a focus on sustainable growth and technological advancements, the Electric DC Motors market is set to deliver robust performance and offer numerous avenues for energy-efficient applications across the globe. For further information on this report and its implications for the Global Electric DC Motors market, please contact your local industry professional.
Companies Featured
- ABB Ltd
- Johnson Electric Holdings Limited
- AMETEK Inc.
- Nidec Corporation
- Allient Inc.
- Yaskawa Electric Corporation
- MinebeaMitsumi, Inc.
- Siemens AG
- Regal Rexnord Corporation
- Maxon Motors AG
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