Press release
Global Micromotor Market Projected to Surpass $58.16 Billion by 2029 with 7.6% Annual Growth
Micromotor Market Size
The growing demand for electric vehicles (EVs) is anticipated to drive the micromotor market. As EVs become more popular due to environmental awareness and advancements in technology, micromotors are used for various EV applications, such as steering, window actuators, and cooling systems. According to the Electric Vehicle Council, EV sales in Australia surged 269% in the first half of 2023, marking a significant rise and expanding the micromotor market.
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How will the growth rate of the micromotor market shape industry trends by 2034?
The micromotor market has expanded strongly, growing from $40.17 billion in 2024 to $43.33 billion in 2025 at a CAGR of 7.9%. The sector's growth is fueled by increasing demand for energy efficiency, rising applications in the healthcare sector, technological advancements in aerospace, the growing popularity of 3D printing, and higher adoption in the aerospace and defense industries.
The micromotor market is set to grow strongly, reaching $58.16 billion in 2029 at a CAGR of 7.6%. Growth will be driven by advancements in power tools, increasing use in collaborative robots, demand from the construction sector, and improvements in energy storage systems. Major trends include the integration of sensors and controls, advancements in materials science, innovations in power generation, and rising demand for automotive micromotors.
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What trends are poised to drive the future success of the micromotor market?
Companies in the micromotor market are developing advanced solutions like the Micro-Motor Watch to meet industry demands. In August 2024, Titan, an Indian consumer lifestyle company, introduced the Fastrack GAMBIT, a range of micro-motor watches. These watches combine style and technology, featuring precise timekeeping in a sleek design. The launch aligns with Titan's strategy to appeal to trend-conscious consumers who value both aesthetics and functionality.
Which primary segments of the micromotor market are driving growth and industry transformations?
The micromotor market covered in this report is segmented -
1) By Type: Alternating Current (AC) Motor, Direct Current (DC) Motor
2) By Technology: Brushed, Brushless
3) By Price Range: Low-Cost Micro Motors, Premium Micro Motors
4) By Application: Automotive, Medical Equipment System, Industrial Automation, Aircraft Systems, Construction And Mining, Agriculture Equipment System, 3-Dimensional Printer System
Subsegments:
1) By Alternating Current (AC) Motor: Single-Phase AC Micromotor, Three-Phase AC Micromotor, Synchronous AC Micromotor, Induction AC Micromotor, Universal AC Micromotor, Brushless AC Micromotor, Linear AC Micromotor, Variable Frequency Drive (VFD) AC Micromotor, Compact AC Micromotor
2) By Direct Current (DC) Motor: Brushed DC Micromotor, Brushless DC Micromotor, Coreless DC Micromotor, Permanent Magnet DC Micromotor, Stepper DC Micromotor, Precision DC Micromotor, High-Speed DC Micromotor, Low-Voltage DC Micromotor, High Torque DC Micromotor, Micro DC Motors With Encoders, Gear DC Micromotors
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Which regions are key players in the growth of the micromotor market?
North America was the largest region in the micromotor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the micromotor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the micromotor market landscape?
Major companies operating in the micromotor market are Hitachi Ltd, Siemens AG, ABB Ltd, Nidec Corporation, Johnson Electric Holdings Limited, Mitsuba Corporation, Mabuchi Motor Co Ltd, C.I. TAKIRON Corporation, Maxon Motor Ag, Vybronics Inc., Faulhaber Drive System Technology Co Ltd, Allied Motion Technologies Inc, Portescap, TECO Westinghouse, Orbray Co. Ltd., Shenzhen Zhaowei Machinery & Electronic Co. Ltd., Constar Micromotor Co. Ltd, Ineed Technologies, Pelonis Technologies Inc., Micro Motors SRL, Risun Expanse Corp.
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What Is Covered In The Micromotor Global Market Report?
•Market Size Forecast: Examine the micromotor market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the micromotor market for a structured understanding.
•Key Players Overview: Analyze major players in the micromotor market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the micromotor market.
•Segment Contributions: Evaluate how different segments drive overall growth in the micromotor market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the micromotor market.
•Industry Challenges: Identify potential risks and obstacles affecting the micromotor market.
•Competitive Landscape: Review strategic developments in the micromotor market, including expansions, agreements, and new product launches.
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