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Electric DC Motor Market to Advance at 8.86% CAGR by 2028
Electric DC Motor Market
Triton Market Research's report highlights that the global market for electric DC motor is projected to surge at a CAGR of 8.86% over the forecast period 2022-2028.
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An electric DC motor converts direct electrical energy into mechanical energy. The motor's speed can be adjusted over a broad range by changing the supply voltage or the current's strength in its field windings.
In recent times, the adoption of brushless DC motors has increased due to the rising urban population and growing awareness regarding environmentally friendly products. These motors are adopted by various industries, including agriculture, automotive, healthcare, and medical.
The increased adoption is due to its features such as low noise, strong torque, energy savings, increased operating & energy efficiency, high torque, and high rpm. Thus, the aforementioned factors are propelling the growth of the electric DC motor market.
However, due to the presence of an unorganized market segment, there is a lack of quality control for DC motors, which is anticipated to impede the overall growth of the electric DC motor market.
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Globally, the Asia-Pacific is anticipated to be the fastest-growing region in the electric DC motor market. The region's growth is mainly due to the robust automotive industry that has increased the utilization of electric DC motors over the years. For instance, in 2020, approximately 3,394,446 and 25,225,242 vehicles were produced in India and China, respectively. This rise in automotive manufacturing increases the demand for electric DC motors, in turn driving the studied market.
Leading companies in the electric DC motor market include ABB, Maxon Motors AG, Robert Bosch GmbH, Siemens AG, Yaskawa Electric Corporation, Ametek, Johnson Electric Holdings Ltd, Oriental Motor Co Ltd, Nidec Corporation, MinebeaMitsumi Inc, Regal Beloit Corporation, Arc Systems Inc, Teco Electric & Machinery Co Ltd, Allied Motion Technologies Inc, and Rockwell Automation.
The electric DC motor market players mainly focus on product and service enhancements by integrating advanced technologies into their offerings. For instance, Maxon Motors launched a new ventilated brushless DC motor with power level improvement. Another company, Johnson Electric launched LVDC motors for smart furniture, designed for actuators used in smart recliners, hospital beds, height-adjustable desks, and other smart furniture products.
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