The study begins with a detailed overview of the market for Global Micro Motor, including the definition, classification, and industry chain structure of Global Micro Motor market and move forward to cover every aspect of this market, counting several criteria based on which the market is classified. Focusing specifically on the key trends, it further evaluates the overall performance of this market during the assessment period. With Micro Motor industry undergoing a phase of technological disruption, innovations in products are likely to shape the future of the Global Micro Motor Market.
Micro motors are small-sized motors which offer high performance characteristics. These are further divided into AC and DC motors. Features of micro motors have enabled the automotive industry in incorporating luxury into all segments. Basically, two types of AC and DC motors exist in the market viz. brushed and brushless motors.
Moderate expansion at less than 5% CAGR is estimated for the global micro motor market over the forecast period 2017 to 2022, according to a new study by Fact.MR. Revenues from global sales of micro motor are expected to reach nearly US$ 40,000 Mn by 2022-end.
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Introduction of Drive to Modern Design Micro Motors will Drive Growth of the Market
With continuous advancements in electronic technology, the micro motor industry is experiencing mutual M&A adjustment process with the drive manufacturing industry. The introduction of drive-to-modern design of micro motors has bolstered demand for materials as well as manufacturing & production processes, which in turn is expected to drive growth of the micro motor market. In addition, surging car sales have resulted into robust application of electrical equipment. The traditional carburetors in vehicles have been replaced by the quantitative & automatic fuel injection system, and antilock braking systems (ABS) in several cars have been replaced by motors.
There has been a robust expansion in demand for brushless DC motors for adoption in electric vehicles. Manufacturers have been developing portable charging power tools for electronic vehicles, on the back of concerns pertaining to future environmental protection. Moreover, a number of technological innovations have been made in piezoelectric micro motors with high precision. For example, New Scale Technologies has developed an M3 smart module platform, known as “SQUIGGLE motor”, which is a revolutionary, small-sized piezoelectric micro motor with high performance characteristics. These factors are expected to augment growth of the global micro motor market.
APEJ will Remain Dominant in the Global Micro Motor Market
In terms of revenues, Asia Pacific excluding Japan (APEJ) is anticipated to be dominant in the global micro motor market in 2017, and this trend will continue to prevail during the forecast period. Europe will continue to be the second largest market for micro motor. Although, the micro motor market in the Middle East & Africa (MEA) will account for lower revenues, sales are expected to witness an above average expansion through 2022.
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DC micro motors will continue to remain sought-after among products in the global micro motor market, with sales poised to register a moderate expansion through 2022. However, sales of AC micro motors are estimated to exhibit a sluggish expansion throughout the forecast period.
Sales of 12V-48V Micro Motors to Register the Highest CAGR through 2022
On the basis of power consumption, 12V-48V micro motors are expected to remain dominant in the global market, with sales expanding at the highest CAGR through 2022. Sales of less than 12V micro motors are estimated to account for larger revenues as compared to above 48V micro motors. However, sales of above 48V micro motors will register a relatively higher CAGR than that of less than 12V micro motors.
Micro motors will continue to witness largest application in automotive sector, with revenues expected to account for over 1/4th share of the market. Industry automation is expected to be the second most lucrative sector for application of micro motors by 2022-end. However, demand for micro motors in aircraft applications will remain sluggish throughout the forecast period.
By technology, brushless micro motors will continue to witness the largest adoption in the global micro motor market. Sales of brushless micro motors are expected to exceed US$ 20,000 Mn in revenues by 2022-end. Sales of brushed motors will continue to witness a sluggish expansion through 2022.
12 Key Prospects from Fact.MR’s Report on the Global Micro Motor Market
1- 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.
2- Brushed motor sales will continue to register a sluggish expansion over the forecast period.
3- 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.
4- Industry automation will continue to be the second largest application of micro motors.
5- Demand for micro motors will remain sluggish in aircraft applications throughout the forecast period.
6- 12V-48V micro motors will remain dominant in the market based on power consumption, with sales estimated to exhibit the fastest expansion through 2022.
7- Sales of above 48V micro motors are expected to account for lower revenues as compared to less than 12V micro motors.
8- 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.
9- AC micro motor sales are expected to register a sluggish expansion through 2022.
10- 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.
11- Europe is poised to remain the second most lucrative market for micro motor.
12- 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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