Micro Motor Market Outlook- 2030
The global micro motor market size was $ 36,477.9 million in 2020, and is expected to reach $56,066.2 million by 2030, with a CAGR of 4.1% from 2021 to 2030. Micro motor is lighter and compact in size. Micro motor is basically designed for low power consumption and minimize electromagnetic interference. Micro motor has features such as quick operation, superior performance, and broader power option. Micro motor finds applications in drilling, polishing, grinding, and various other industrial applications. Micro motor is available in both modes brushed as well as brushless. Micro motor is widely used in industrial and aerospace industry. Micro motor is available in power range of 1V to 60V. The factors that make a micro motor advantageous over other motors are electronic control, high power to weight ratio, and high speed. They find their applications in hand-held power tools, computer peripherals, printers, disk drives, and vehicles.
The benefits associated with micro motor such as high torque, low noise level, save energy, and increase operational efficiency fuel the micro motor market growth . The rise in trend of industrial automation and growing popularity of miniature electronic devices fuel the growth of the micro motor market. Micro motor finds use in various applications such as hand dryer, surgical devices, fans, pumps, compressors, and domestic appliances. Increase in urban population and rise in consumer awareness about eco-friendly products drive the micro motor market growth.
A rise in demand for DC motors in HVAC, agriculture, and other applications, owing to features such as energy efficiency, variable speed, environment friendly, compact size, and minimal maintenance cost drive the growth of the market. An increase in urbanization and industrialization in emerging countries such as Germany, France, the U.S., and others fuels the demand for automotive vehicle. This is expected to fuel the demand for micro motor; thereby, driving the growth of the 10V-20V micro motor globally. For instance, degree of urbanization in the U.S. increased by 0.4% from 2017 to 2019.
In addition, micro motor is used in various industry verticals such as agriculture, medical, healthcare, and automotive, owing to rise in demand for motors. The healthcare industry in various countries such as the UK, the U.S., and India is growing at a significant pace, due to increase in investments in this sector by government. For instance, in 2018, the UK Government spent $252.9 billion on the healthcare industry. This is expected to drive the demand for brushless DC motors, owing to features such as energy efficient, high torque, and high rpm. Growth in demand for HVACs in the Middle East, especially in Gulf Cooperation Council (GCC) countries and increase in demand for HVAC in the UAE due to rise in focus to decrease the dependence on oil drive the growth of the micro motor market in this region. Additionally, events such as World Expo 2020 in UAE and FIFA World Cup 2022 in Qatar boost the demand for infrastructure and HVAC. This is expected to increase the demand for micro motor in the Middle East. All such instances drive the growth of the micro motor market.
However, slow-down in the automotive industry and high initial capital investment are expected to restraint the growth of the micro motor market. Furthermore, rise in demand for micro motor from robotics and automated robot technologies is anticipated to provide lucrative opportunities for the growth of the micro motor market.
By Type
AC segment holds dominant position in 2020
The global micro motor market is segmented on the basis of type, technology, power consumption, application, and region. On the basis of type, the market is divided into AC and DC. The AC segment generated the highest revenue in 2020. Based on technology, the market is divided into brushed and brushless. The brushed segment dominated the market in 2020. On the basis of power consumption, the market is categorized into less than 10V, 10V-20V, and more than 20V. More than 20V segment generated the highest revenue in 2020. Based on application, the market is divided into industrial, automotive & aerospace, healthcare, and others. The industrial segment dominated the market in 2020.
Region wise, the global micro motor market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global micro motor market share, and is anticipated to secure a leading position during the forecast period.
By Technology
Brushed Motor segment is expected to grow at a significant CAGR
Competition Analysis
Key players profiled in this report include Mabuchi Motor Co Ltd, Nidec Corporation, Buhler Motor GmbH, Johnson Electric Holdings Limited, Maxon Motor AG, Arc Systems Inc, ABB Group, Mitsuba Corporation, Constar Micromotor Co Ltd, and Siemens AG.
The key players in this market adopted product launch, partnership, and expansion as their key strategies to meet the changing consumer demands. For instance, in February 2021, Nidec Corporation acquired Mitsubishi Heavy Industries Machine Tools Co. Ltd, based in Japan, deals in motors, machine tools, cutting tools, and related products. The acquisition aimed to improve the product portfolio of motors and actuators.
By Region
Asia-Pacific Region is expected to dominate the market during the forecast period.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current micro motor market trends and future estimations.
- Extensive analysis of global micro motor market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global micro motor market forecast analysis from 2021 to 2030 is included in the report.
- The key market players within the global micro motor market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global micro motor market.
Global Micro Motor Market Segments
By Type
- AC
- DC
By Technology
- Brushed Motor
- Brushless Motor
By Power Consumption
- Below 9V
- 10V-20V
- 21V-50V
- More than 50V
By Application
- Industrial
- Automotive & Aerospace
- Healthcare
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Players
- Mabuchi Motor Co Ltd
- Nidec Corporation
- Buhler Motor GmbH
- Johnson Electric Holdings Limited
- Maxon Motor AG
- Arc Systems Inc
- ABB Group
- Mitsuba Corporation
- Constar Micromotor Co Ltd
- Siemens AG.
Micro Motor Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Technology |
|
 By Power Consumption |
|
 By Application |
|
 By Region |
|
 Key Market Players | NIDEC CORPORATION, ABB GROUP, ARC SYSTEMS INC., BÜHLER MOTOR GmbH, Mitsuba Corporation, JOHNSON ELECTRIC HOLDINGS LIMITED, Constar Micromotor Co Ltd, Mabuchi Motor Co Ltd, SIEMENS AG, MAXON MOTORS AG |
Analyst Review
The global micro motor has witnessed huge demand in Asia-Pacific followed by Europe & North America. The highest share of the Asia-Pacific market is attributed to increase in demand in micro motors in automotive and pharmaceutical sectors.
Micro motor is compact in sizes; hence, it is widely adopted in hand held devices, electric shavers, electric toothbrushes, vehicle cleaner accessories, and other equipment. The benefits associated with micro motors include high efficiency, high torque speed, small in size, and available in brushed as well as brushless technology. A rise in demand for micro motor in industrial and manufacturing sector globally fuels the growth of the micro motor market. In addition, huge demand for HVAC (heating, ventilation, and air conditioning) and automotive industries is expected to provide lucrative opportunities for the growth of the micro motors market.
Moreover, major players such as Mabuchi Motor Co Ltd, Simens AG, and others are adopting acquisition as a key developmental strategy to improve the product portfolio of micro motor product. For instance, in June 2021, Mabuchi Motor Co Ltd acquired Electromag SA that deals in providing motors for medical equipment. The acquisition aimed to improve the product portfolio of micro motors. All such instances drive the growth of the micro motor market.
The Global micro motor market size was $36,477.9 million in 2020 and is projected to reach $56,066.2 million in 2030, growing at a CAGR of 4.1% from 2021 to 2030.
The forecast period considered for the Global micro motor market is 2021 to 2030, wherein, 2020 is the base year, 2021 is the estimated year, and 2030 is the forecast year.
The base year considered in the Global micro motor market is 2020.
The report for Global micro motor market doesn’t provides Value Chain Analysis, but if there is a requirement for the same, it could be added as an additional customization.
On the basis of rotor type, the Inner rotor brushless DC motors segment is expected to be the most influencing segment growing in the Global micro motor market report.
Based on type, AC segment generated the highest revenue, accounting for 77.51% of the market share, and is projected to grow at a CAGR of 4.3% from 2021 to 2030.
The report contains an exclusive company profile section, where the leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, and market dominance (in terms of revenue and volume sales).
Asia-Pacific is expected to provide more business opportunities for micro motor market in the future.
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