Newark, March 07, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global brushless DC motor market is expected to grow from USD 14.36 billion in 2021 to USD 27.77 billion by 2030, at a CAGR of 7.60% during the forecast period 2022-2030.
The rise in urban population and increasing automobile manufacturing are anticipated to expand the brushless DC motor enterprise demand during the projection period. Moreover, the increasing industrial spending on motor technologies, the ever-increasing developmental projects in emerging economies, and the rising focus on fuel efficiency are also helping to propel market growth. However, the easy availability of low-quality alternatives, the high prices associated with brushless DC motors, the expansion in the initial cost, and the need to install a control method are restraining market growth. Furthermore, the growing usage of brushless DC motors in broad applications across different end-use enterprises like chemicals, automotive, marine, paper & pulp, electronics manufacturing, food processing, semiconductors, and aerospace are opportunities for market growth.
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Competitive Strategy
To enhance their market position in the global brushless DC motor market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• For example, in November 2021, Maxon Motor Company launched a new frameless brushless DC motor with a matching encoder for a broad range of robotics applications.
Market Growth & Trends
The growth of the brushless DC motor market is driven by the growing scope of electronic conformal coating applications in the medical industry and increasing sales of consumer electronics. Moreover, the rising popularity of autonomous vehicles is the market growth trend. In addition, the growing use of electronics in the aerospace, automotive, and defense industries is expected to propel market growth. Apart from this, the increasing focus on minimizing the environmental footprint is augmenting the adoption of (HEVs) hybrid electric vehicles, helping drive market growth. Moreover, the ever-increasing trend of high-tech electronics like drones & mobility scooters and the introduction of sensor-less brushless DC motors also propel the market growth.
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Key Findings:
• In 2021, the inner rotor segment dominated the market with the largest market share of 56.21% and market revenue of 8.07 billion.
The type segment is divided into the outer rotor and inner rotor. In 2021, the inner rotor segment dominated the market with the largest market share of 56.21% and market revenue of 8.07 billion. This growth is attributed to the raised demand for electric vehicles.
• In 2021, the 0 -750 watts segment dominated the market with the largest market share of 29.13% and market revenue of 4.18 billion.
The rated output power segment is divided into above 75 kW, 3 kW - 75 kW, 750 Watts to 3 kW, and 0 -750 watts. In 2021, the 0 -750 watts segment dominated the market with the largest market share of 29.13% and market revenue of 4.18 billion. This growth is attributed to the extensive applications of the products in motor vehicles & household device applications.
• In 2021, the consumer electronics segment dominated the market with the largest market share of 26.17% and market revenue of 3.75 billion.
The end-user segment is divided into automotive, medical devices, consumer electronics, manufacturing, and others. In 2021, the consumer electronics segment dominated the market with the largest market share of 26.17% and market revenue of 3.75 billion. This growth is attributed to the robust distribution network across the globe.
Regional Segment Analysis of the Brushless DC Motor Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region occurred as the largest market for the global brushless DC motor industry, with a market share of 47.33% and a market value of around 6.79 billion in 2021. The Asia Pacific dominates the brushless DC motor market due to the increasing popularity of modern consumer electronics. Moreover, the surging number of manufacturing and infrastructure facilities is also helping to drive the region's market growth. Further, the North American region is expected to show the fastest CAGR of 9.12% over the projection period. This growth is attributed to the ongoing investments in developing new & advanced manufacturing technologies. In addition, government funding initiatives for electric vehicles to protect the environment from carbon emissions also propel market growth in this region.
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Key players operating in the global brushless DC motor market are:
• Allied Motion Technologies, Inc.
• ABB Ltd.
• Johnson Electric
• Ametek Inc.
• North American Electric, Inc.
• Baldor Electric Company Inc.
• Regal Beloit Corporation
• Siemens
• Nidec Motor Corporation
• TECO Electric & Machinery Co., Ltd.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global brushless DC motor market based on below mentioned segments:
Global Brushless DC Motor Market by Type:
• Outer Rotor
• Inner Rotor
Global Brushless DC Motor Market by Rated Output Power:
• Above 75 kW
• 3 kW - 75 kW
• 750 Watts to 3 kW
• 0 -750 Watts
Global Brushless DC Motor Market by End-User:
• Automotive
• Medical Devices
• Consumer Electronics
• Manufacturing
• Others
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About the report:
The global brushless DC motor market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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