Portland,OR, June 29, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global brushless DC motors market generated $35.15 billion in 2020, and is expected to garner $68.83 billion in 2028, registering a CAGR of 8.5% from 2021 to 2028. The report offers a detailed analysis of changing market dynamics, value chain, key segments, regional scenario, top investment pockets, and competitive landscape.
Increase in usage among HVAC end users and surge in utilization as servomotors drive the growth of the global brushless DC motors market. However, high initial cost of investment and complexities hinder the market growth. On the other hand, usage of brushless DC motors for robots and advancement of the automotive industry toward electric vehicles present new opportunities in the coming years.
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Covid-19 Scenario:
- The halt in international trade, extended lockdowns, and disruption in processes in the manufacturing and automotive industries led to reduced production of brushless DC motors. Manufacturers also faced challenges in raw material procurement due to lockdown.
- The demand from the end users including industrial machinery, automotive, HVAC industry, and others lowered considerably due to stoppage of daily operations. The demand is estimated to rise slowly during the post-lockdown.
- New installation and maintenance activities have been postponed due to lockdown during the Covid-19 pandemic.
The report provides detailed segmentation of the global brushless DC motors market based on rotor type, power range, end user, and region.
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Based on rotor type, the inner rotor brushless DC motors segment contributed to the highest market share, accounting for more than two-thirds of the total share in 2020, and is projected to continue its lead position throughout the forecast period. However, the outer rotor brushless DC motors segment is expected to portray the highest CAGR of 9.2% from 2021 to 2028.
Based on end user, the industrial machinery segment held the highest share in 2020, accounting for more than two-fifths of the global brushless DC motors market, and is estimated to continue its dominance in terms of revenue during the forecast period. However, the HVAC industry segment is expected to manifest the highest CAGR of 10.1% from 2021 to 2028.
Based on region, Asia-Pacific accounted for the largest market share in 2020, contributing to more than two-fifths of the total share, and is projected to maintain its leadership status by 2028. Moreover, this region is expected to witness the fastest CAGR of 9.3% during the forecast period.
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Leading Players:
Leading players of the global brushless DC motors market analyzed in the research include Allied Motion Technologies Inc., Arc Systems Inc., AMETEK Inc., Faulhaber Group, Buhler Motor GmbH, Maxon motors AG, Johnson Electric Holdings Limited, Nidec Corporation, MinebeaMitsumi Inc., and Oriental Motor Co. Ltd.
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