Dublin, Aug. 23, 2023 (GLOBE NEWSWIRE) -- The "North America Micromotor Market Size, Share & Industry Trends Analysis Report By Application, By Type (AC Motors and DC Motors), By Technology (Brushed and Brushless), By Consumption, By Country and Growth Forecast, 2023 - 2029" report has been added to ResearchAndMarkets.com's offering.
North America Micromotor Market stands poised for remarkable growth with an anticipated Compound Annual Growth Rate (CAGR) of 7.4% throughout the forecast period (2023-2029)
The driving force behind this ascent lies in the exceptional advantages micro motors offer - from their quiet operation and potent torque to their energy-saving capabilities and enhanced efficiency. As the march towards industrial automation gains momentum and the demand for compact electronic devices surges, the micro motor market experiences an expansive trajectory.
These miniature powerhouses find application across diverse sectors, fueling innovations in hand dryers, pumps, compressors, surgical equipment, and household appliances. Fueled by a burgeoning urban population and an increased consumer awareness of eco-friendly products, the demand for micro motors continues to soar, underpinning the market's promising growth prospects.
Due to their high efficiency, high torque, durability, exceptional controllability, and dependability characteristics, micro motors are being used in industrial applications more and more frequently. Furthermore, demand for these motors is rising due to their application in robotics, HVAC, and electric cars, which is one of the key factors driving market expansion.
Similar to how they are transforming many other industries, drones are reinventing aviation, affecting both old and new industries while drastically increasing the number of commercial and recreational drone pilots accessing Canadian airspace. As a result, UAVs can potentially boost Canada's commercial sector's efficiency and competitiveness.
In Canada, the drone ecosystem includes several significant drone industry players, including federal agencies, academic institutions, non-profit groups, and a variety of drone firms. Therefore, demand for micro motors will continue to drive the regional micro motor market expansion during the projection period.
The US market dominated the North America Micromotor Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $14,000.1 million by 2029. The Canada market is poised to grow at a CAGR of 9.8% during (2023-2029). Additionally, The Mexico market should witness a CAGR of 8.8% during (2023-2029).
Key Market Players
- MITSUBA Corporation
- Nidec Corporation
- Johnson Electric Holdings Limited
- Mabuchi Motor Co., Ltd.
- Maxon Motor Ag
- Constar Micromotor Co., Ltd.
- Buhler Motor GmbH
- Siemens AG
- ABB Group
- ARC Systems, Inc.
Scope of the Study
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 Country
- US
- Canada
- Mexico
- Rest of North America
For more information about this report visit https://www.researchandmarkets.com/r/lk7cj4
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