Micro Motor Market Forecast Will hit at a CAGR of 4% by 2017 - 2022
The adoption of brushless DC motors in electric vehicles has witnessed a robust expansion over the past few years. Micro motor manufacturers have been focusing on the development of portable charging tools related to electric vehicles, owing to the concerns associated with future environmental protection. In addition, numerous technological innovations in piezoelectric motors providing high precision have been introduced in the market. For instance, the M3 smart module platform – “SQUIGGLE motor”, developed by New Scale Technologies, has become the revolutionary piezoelectric small-sized micro motor, which delivers high performance. These incidences are expected to propel growth of the market during the forecast period.
Continuous advancements in electronic technology have prompted the micro motor industry to witness mutual merger & acquisition, and adjustment processes with players from drive manufacturing industry. Introduction of drive-to micro motors' modern design has boosted demand for manufacturing & production processes, and materials required for micro motors, which in turn will fuel growth of the global market for micro motors. In addition, growing number of car sales driven the application of electrical equipment. In vehicles, automatic & quantitative fuel injection system have replaced traditional carburetors, and small motors have replaced the ABS systems. These factors will further augment growth of the market.
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12 Key Prospects from Fact.MR’s Report on the Global Micro Motor Market
Brushless micro motors are expected to experience the largest adoption, based on technology, in the global market for micro motor. Brushless micro motor sales are expected to surpass revenues worth US$ 20,000 Mn by 2022-end.
Brushed motor sales will continue to register a sluggish expansion over the forecast period.
Based on application, automotive segment is expected to remain dominant in the global market for micro motor. Revenues from sales of micro motors in automotive applications are expected to hold over 1/4th market share during the forecast period.
Industry automation will continue to be the second largest application of micro motors.
Demand for micro motors will remain sluggish in aircraft applications throughout the forecast period.
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12V-48V micro motors will remain dominant in the market based on power consumption, with sales estimated to exhibit the fastest expansion through 2022.
Sales of above 48V micro motors are expected to account for lower revenues as compared to less than 12V micro motors.
DC micro motors are anticipated to remain preferred among products in the market, with sales estimated to exhibit a moderate expansion during the forecast period.
AC micro motor sales are expected to register a sluggish expansion through 2022.
In 2017, Asia Pacific excluding Japan (APEJ) will remain dominant in the global market for micro motor market in terms of revenues, and this trend will prevail throughout the forecast period.
Europe is poised to remain the second most lucrative market for micro motor.
Although, revenues from micro motor market in Middle East & Africa (MEA) will remain lower, sales are estimated to register an above-average expansion over the forecast period.
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