Rockville, MD, July 03, 2024 (GLOBE NEWSWIRE) -- The global brushless DC motor market size will be valued at US$ 20.89 billion in 2024. Revenue from worldwide sales of brushless DC (BLDC) motors is projected to reach US$ 38.49 billion, with a growing CAGR of 6.3% by the end of 2034.
More healthcare professionals are now relying on service robots for enhanced patient care, which is contributing to the increased sales of brushless direct current motors that offer significant speed, low electric noise, longer lifespan, and half of the weight compared to PMSM (permanent magnet synchronous motors).
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Increased demand for inner BLDC motors with high power density is due to their lightweight and compact designs while improving or maintaining performance. They are widely used in applications such as drones, portable electronics, and EVs where weight and space constraints are critical.
Noteworthy shift to electric vehicles is due to stringent government regulations on emissions, advancements in battery technology, and environmental concerns, which is contributing to the rising sales of brushless DC motors. Leading automakers are investing significantly in the development of electric variants and are increasing their reach to a wider consumer base. These motors are favorable for electric vehicles due to their high efficiency and power density, which help increase the driving range of electric automobiles.
For instance,
- BorgWarner, in February 2021, launched a new 800-volt electric motor for use in commercial vehicles. This HVH (high voltage hairpin) 320 motor ensures increased efficiency while reducing charging time and achieving higher power density.
Key Takeaway from Market Study
- The global BLDC motor market is forecasted to expand at 6.3% CAGR from 2024 to 2034.
- East Asia is approximated to capture a 37.2% share of global market revenue by the end of 2034.
- Demand for brushless DC motors in South Korea is projected to accelerate at a CAGR of 6.3% through 2034.
- Sales of BLDC motors in Japan are analyzed to climb at 6.5% CAGR from 2024 to 2034.
- The automotive industry is calculated to account for 29.3% of the global market share by 2034.
- Worldwide demand for brushless DC motors of 0 to 750 watts is evaluated to accelerate at a CAGR of 6.4% and reach a market value of US$ 13.78 billion by the end of 2034.
“With the continuous expansion of the consumer electronics industry, BLDC motor manufacturers should look at customized solutions that can result in higher end-product efficiency and reduced power consumption,” says a Fact.MR analyst.
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Automotive Industry Accounts for High Brushless DC Motor Sales
Worldwide demand for BLDC motors for use in the automotive industry is calculated to accelerate at a CAGR of 6.4% and reach a market valuation of US$ 11.28 billion by 2034. Electric, hybrid, and fuel-cell vehicles are contributing to the increased deployment of brushless DC motors in the automotive industry. Moreover, these motors are used in air conditioning systems, power steering systems, and window lift mechanisms, thereby contributing to the segment doing well in this market.
Key Market Players
Some of the leading manufacturers of brushless DC motors are North American Electric Inc., ABB Ltd., TECO Electric & Machinery Co. Ltd., Allied Motion Technologies Inc., Siemens, Ametek Inc., ORIENTAL MOTOR USA CORP., Schneider Electric, Baldor Electric Company Inc., Maxon, TOSHIBA CORPORATION, Regal Beloit Corporation, Johnson Electric Holdings Limited, Nidec Motor Corporation, and Rockwell Automation, Inc.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the brushless DC motor market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights into the market based on type (inner rotors, outer rotors), power (0 to 750 watts, 751 watts to 3 kW, 3.1 kW to 75 kW, above 75 kW), and end-use industry (consumer electronics, automotive, manufacturing, medical devices, others), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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