The micromotor industry size is projected to grow from USD 44.8 billion in 2023 to USD 68.3 billion by 2028, at a CAGR of 8.8% during the forecast period. Automotive, medical, agricultural, aerospace, and industrial automation operations are just a few of the many industries that use micromotors. The market for micromotors is anticipated to grow in the upcoming years due to the growing need for component miniaturization in manufacturing, automotive, medical, and aerospace applications.
The largest segment is anticipated to be industrial automation.
Compared to bigger motors, micromotors offer improved accuracy and efficiency in machinery control because of their small size, which makes them easier to integrate into systems. The need for compact, effective motors, such as micromotors, to drive automated equipment and systems will grow as industrial automation develops. The precision and reliability afforded by micromotors make them a great choice for usage in different applications in industrial automation, such as robots, medical devices, and consumer electronics. Thus, it is anticipated that as industrial automation spreads, the micromotor market would keep expanding.
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The fastest-growing market is anticipated to be brushless micromotors.
Because brushless micromotors are more efficient than brushed micromotors, they have gained popularity as the demand for energy-saving technology has grown. Brushless micromotors save money and have a smaller environmental effect since they require less energy to generate the same amount of power. Due to the need for more reliable and efficient micromotor technologies, brushless micromotors are even preferred in some vehicle applications, such as power windows, windshield wipers, and power seat adjustments. Because brushless micromotors offer superior speed and position control over brushed micromotors, they are a popular option for applications requiring precision control, such as robotics and medical equipment.
In 2023, Asia Pacific is anticipated to hold the greatest share.
Innovations and developments in manufacturing, automotives, healthcare, aerospace, agriculture, construction, and mining are propelling the Asia-Pacific micromotor market. Among other nations, China, India, and Japan are the main drivers of the expansion of micromotors in the area. Asia Pacific’s industrial sector is expanding quickly, especially in nations like China, Japan, South Korea, and Taiwan. In addition, Asia Pacific nations have been making significant investments in the study and creation of new technologies. Consequently, they have been able to manufacture micromotors of superior quality at a lesser cost than other places.
Key Market Players
Major players operating in the micromotor market are MITSUBA Corporation (Japan), Nidec Corporation (Japan), Johnson Electric Holdings Limited (China), Mabuchi Motor Co., Ltd. (Japan), Maxon (Switzerland) and Constar Micromotor Co., Ltd. (China).
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