Dublin, March 19, 2021 (GLOBE NEWSWIRE) -- The "Micro Motors - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The Future of Automation is Smart, Fast & Small. Hanging On to the Big Growth of Small Bots, Micro Motors Market to Reach US$ 35.6 Billion
The global market for Micro Motors is expected to slump by -17.9% in the year 2020 before recovering to reach US$ 35.6 billion by the year 2027, trailing a post COVID-19 CAGR of 4.1%, over the analysis period 2020 through 2027.
With manufacturing being the worst impacted by the pandemic, it's a bleak outlook for micro motors for the year 2020. A rolling disaster, the pandemic has slowed down economic activity and has pushed the global economy into a steep recession. The asphyxiated economy has set into motion a cascading effect of a marked recession which is being felt by businesses and consumers alike. With roots in China, the world's supply chains are facing unprecedented disruption & shutdown.
Interwoven with a demand crisis, the supply chain shocks are exerting a compounded blow to manufacturing companies worldwide. Division of labor, modular manufacturing strategies, outsourcing to reduce costs and increase the efficiency, consistency, and quality of each operations, have made the manufacturing sector most vulnerable amid the lockdown restrictions.
Business investment confidence is tumbling amidst poor demand, falling profits, liquidity crunch and a reeling global economy. The great lockdown of 2020 has crushed the global economy and with it the manufacturing sector. The loss in consumer confidence and erosion of household wealth and discretionary spending will impact virtually every industry and business worldwide. Global merchandize trade is expected to plummet by 15% to 30% in the year 2020 highlighting the magnitude of disruption. Against this backdrop, it requires very little speculation to measure the impact on manufacturing.
In the United States alone over 80% of manufacturers are bracing for losses. The impact will mean crunch on capital resources; workforce layoffs/reduction and loss in productivity; supply chain disruptions; difficulties with funding; and increase in cybersecurity risks and fraud.
Unlike IT services where work is being carried out remotely via internet and cloud platforms, for the manufacturing industry, plant activities and production cannot be carried remotely and therefore remains worst affected. The slower economic activity means reduced demand for industrial and consumer goods and lower manufacturing orders. In the midst of this crisis, demand for all non-essential automation and robotics is declining sending knock-on effects into the upstream value chain.
The unique properties of micro motors make it suitable for use in advanced electrical and electronics systems with space constraints and restricted power budgets. In the post COVID-19 period, industrial automation, automotive and 3D printing will witness high growth rate due to rising adoption of automation in order to improve efficiency and reduce turnaround time. The rise in lab automation also bodes well for micro motors market driven by growing need for precision motion control solutions.
Micro motors find application as miniature piezo motors in medical pipette, telemedicine robots, MRI robot, endoscopy surgical precision, robotic biopsy system, infusion pumps, ultrasound transducer, and pharmaceutical dispensing among others. Brushless motors are expected to witness heightened demand in automotive applications, such as in plug-in electric vehicles with electromechanically-driven powertrain and chassis systems.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- Weak Economic Environment Discourages Market Prospects
- Limited Market Opportunities amid Subdued Industrial Activity
- A Prelude to Micro Motors
- Global Prospects & Outlook for the Micro Motors Market
- Competition
- WORLD BRANDS
2. FOCUS ON SELECT PLAYERS (Total 70 Featured):
- ABB Ltd.
- ABShot Tecnics S.L.
- Buhler Motor GmbH
- Changzhou Fulling Motor Co., Ltd.
- Constar Micromotor Co., Ltd.
- FAULHABER Group
- Johnson Electric Holdings Limited
- Mabuchi Motor Co., Ltd.
- maxon motor AG
- Nidec Corporation
- Precision Microdrives Limited
- Printed Motor Works Limited
- Shinano Kenshi Co., Ltd.
- Siemens AG
- Telco Intercontinental Corporation
3. MARKET TRENDS & DRIVERS
- As Automation Becomes Part of Growing Industries, Processes and Factories, Demand Rises for Micro Motors
- Factory Automation Opens Up Lucrative Opportunities
- Growing Use of Robotic Devices Gives Rise to Market Demand
- Industry 4.0 and Smart Factories Trends Present Tremendous Potential for Servo Motors and Drives Market
- Automotive Industry's Shift towards Advanced and Efficient Automation Technologies Augurs Well for the Market
- Recovery in Automotive Industry Post COVID -19 to Support Demand
- Rising Prominence of Energy Efficient Electric Vehicles to Spur Demand for Micro Motors
- Increase in Lab Automation Bodes Well for Micro Motors
- Increasing Demand for Micro Motors from the Healthcare Sector
- Role of Micro Motors in Targeted Drug Delivery Systems
- Increasing Mechanization of Agricultural Operations Boosts Micro Motors Demand
- Increasing Demand for Micro Motors from 3D Printing
- Select Innovations and Advancements
- Mirmex Motors Develops a Novel Method for High Power Density Micro Motor Windings Production
- Research Team Develops Micro Motors that can exploit Biological Environment
- New Structural Color Barcode Micro Motors Developed
- Bioservo Technologies Develops Ironhand, a Micro Motors-Integrated Robotic Glove
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- GEOGRAPHIC MARKET ANALYSIS
- UNITED STATES
- CANADA
- JAPAN
- CHINA
- EUROPE
- FRANCE
- GERMANY
- ITALY
- UNITED KINGDOM
- SPAIN
- RUSSIA
- REST OF EUROPE
- ASIA-PACIFIC
- AUSTRALIA
- INDIA
- SOUTH KOREA
- REST OF ASIA-PACIFIC
- LATIN AMERICA
- ARGENTINA
- BRAZIL
- MEXICO
- REST OF LATIN AMERICA
- MIDDLE EAST
- AFRICA
IV. COMPETITION
- Total Companies Profiled: 102
For more information about this report visit https://www.researchandmarkets.com/r/mzzw5s