DUBLIN, Aug. 2, 2022 /PRNewswire/ — The “Micro Motors – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Micro Motors Market to Reach $34 Billion by 2026
The global market for Micro Motors estimated at US$28.5 Billion in the year 2022, is projected to reach a revised size of US$34 Billion by 2026, growing at a CAGR of 4.1% over the analysis period.
The market for micro motors is mainly driven by rise in industrial automation, increasing demand from medical equipment and automotive industry, growing use in aircraft systems, and emerging applications in communications equipment, home appliance and 3D printers.
The growing trend of factory automation in countries across the world and increasing vehicle numbers are the two main factors propelling growth. 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. Demand for ultra-micro motors increased significantly over the past few years driven by rapid communications growth and increased proliferation of micro video games, healthcare equipment and consumer electronics.
Brushless, one of the segments analyzed in the report, is projected to grow at a 4.5% CAGR to reach US$24.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Brushed segment is readjusted to a revised 3.2% CAGR for the next 7-year period.
This segment currently accounts for a 32.1% share of the global Micro Motors market. 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. Thus, the rising sales of electric vehicles in the automotive industry bode well for brushless motors.
The U.S. Market is Estimated at $5.4 Billion in 2022, While China is Forecast to Reach of $8.6 Billion by 2026
The Micro Motors market in the U.S. is estimated at US$5.4 Billion in the year 2022. The country currently accounts for a 19.29% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$8.6 Billion in the year 2026 trailing a CAGR of 5.1% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3% CAGR while Rest of European market (as defined in the study) will reach US$9.2 Billion by the end of the analysis period.
Asia-Pacific region is expected to witness robust demand for micro motors on account of growing automotive industry, increase in healthcare centers, and rise in mining and construction activities. The growing industrial automation in China offers lucrative growth opportunities in the region.
What`s New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to the digital archives
- Complimentary updates for one year
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Weak Economic Environment Discourages Market Prospects
- Limited Market Opportunities amid Subdued Industrial Activity
- Despite Moves to Reopen the Economy, Battered Business Confidence Plummets to New Depths: Business Confidence Index (BCI) Points
- A Prelude to Micro Motors
- Global Prospects & Outlook for the Micro Motors Market
- Competition
- Micro Motors – Global Key Competitors Percentage Market Share in 2022 (E)
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
- Increased Spending on Industrial Automation Spurs Need 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
- Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020E
- 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
- Percentage of Mechanization in Agriculture in Select Countries
- 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. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/m1r99j
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SOURCE Research and Markets
