Press release
Micromotor Market Size Forecasted To Achieve $58.16 Billion By 2029 With Steady Growth
Micromotor
What Is the Micromotor Market Size and Projected Growth Rate?
The micromotor market size has grown steadily in recent years. It will increase from $40.17 billion in 2024 to $43.33 billion in 2025 at a CAGR of 7.9%. The historic growth is attributed to rising demand for energy-efficient solutions, increased application in the healthcare sector, advancements in aerospace technologies, rising interest in 3D printing, and expanded usage in defense and aerospace industries.
The micromotor market is anticipated to experience strong growth, projected to reach $58.16 billion by 2029, at a compound annual growth rate (CAGR) of 7.6%. This growth is driven by advancements in power tools and handheld devices, the rise of collaborative robots, increased adoption in construction equipment, advancements in energy storage systems, and growing demand in the home appliances industry. Key trends include advancements in micromotor technologies, innovations in materials science, integration of sensors and controls, power generation advancements, and rising demand for automotive parts.
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What Are the Major Segments in the Micromotor Market?
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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What Are The Driving Micromotor Market Evolution?
The micromotor market is set to grow due to the rising demand for electric vehicles (EVs). As environmental concerns grow and EV technology becomes more efficient, the adoption of electric vehicles is increasing. Micromotors are essential in EVs for systems like power steering, window actuators, and cooling systems, thanks to their small size and high efficiency. The Electric Vehicle Council reports a dramatic increase in EV sales in Australia, with a 269% rise in the first half of 2023 compared to 2022, further stimulating the demand for micromotors.
Which Firms Dominate The Micromotor Market Segments?
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.
What Trends Are Expected to Dominate the Micromotor Market in the Next 5 Years?
Leading businesses in the micromotor market are prioritizing the creation of state-of-the-art solutions, like the Micro-Motor Watch, in response to several pivotal industry requirements. The Micro-Motor Watch is a kind of timepiece that employs a mini motor to drive a range of functions, such as exact movement of the watch hands and extra features like chronographs or alarms. For example, Titan, an Indian consumer lifestyle company, debuted its first collection of micro-motor watches, the Fastrack GAMBIT, in August 2024. This novel product line is specifically designed for the youth market, offering a fusion of fashion and tech. The GAMBIT series employs advanced micro-motor tech in its array of styles, enabling accurate timekeeping in a chic, contemporary design. This product launch fits into Titan's strategy of boosting its Fastrack brand, targeting style-aware customers who appreciate a combination of looks and functionality in their accessories.
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Which Is The Largest Region In 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Micromotor Market?
2. What is the CAGR expected in the Micromotor Market?
3. What Are the Key Innovations Transforming the Micromotor Industry?
4. Which Region Is Leading the Micromotor Market?
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