Micro Motors - Global Market Trajectory & Analytics

Global Micro Motors Market to Reach $34 Billion by 2026

Micro motors are miniaturized motors used in products in a range of industries, for mobility applications specifically. High energy efficiency, portability and the ability of notifying vibrations are the major attributes of these motors. These attributes make the motors better substitutes to traditional small sized motors in a number of applications. The market for micro motors is mainly driven by rise in industrial automation, increasing demand from medical equipment and automotive industry, growing use in aircraft systems, and emerging applications in communications equipment, home appliance and 3D printers. The growing trend of factory automation in countries across the world and increasing vehicle numbers are the two main factors propelling growth. The rise in lab automation also bodes well for micro motors market driven by growing need for precision motion control solutions. Micro motors find application as miniature piezo motors in medical pipette, telemedicine robots, MRI robot, endoscopy surgical precision, robotic biopsy system, infusion pumps, ultrasound transducer, and pharmaceutical dispensing among others. Demand for ultra-micro motors increased significantly over the past few years driven by rapid communications growth and increased proliferation of micro video games, healthcare equipment and consumer electronics.

Amid the COVID-19 crisis, the global market for Micro Motors estimated at US$26.9 Billion in the year 2020, is projected to reach a revised size of US$34 Billion by 2026, growing at a CAGR of 4.1% over the analysis period. Brushless, one of the segments analyzed in the report, is projected to grow at a 4.5% CAGR to reach US$24.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Brushed segment is readjusted to a revised 3.2% CAGR for the next 7-year period. This segment currently accounts for a 32.1% share of the global Micro Motors market. Brushless motors are expected to witness heightened demand in automotive applications, such as in plug-in electric vehicles with electromechanically-driven powertrain and chassis systems. Thus, the rising sales of electric vehicles in the automotive industry bode well for brushless motors.

The U.S. Market is Estimated at $5.3 Billion in 2021, While China is Forecast to Reach of $8.6 Billion by 2026

The Micro Motors market in the U.S. is estimated at US$5.3 Billion in the year 2021. The country currently accounts for a 19.29% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$8.6 Billion in the year 2026 trailing a CAGR of 5.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3% CAGR while Rest of European market (as defined in the study) will reach US$9.2 Billion by the end of the analysis period. Asia-Pacific region is expected to witness robust demand for micro motors on account of growing automotive industry, increase in healthcare centers, and rise in mining and construction activities. The growing industrial automation in China offers lucrative growth opportunities in the region.

Select Competitors (Total 70 Featured) -

• ABB Ltd.
• ABShot Tecnics S.L.
• Bühler Motor GmbH
• Changzhou Fulling Motor Co., Ltd.
• Constar Micromotor Co., Ltd.
• FAULHABER Group
• Johnson Electric Holdings Limited
• Mabuchi Motor Co., Ltd.
• maxon motor AG
• Nidec Corporation
• Precision Microdrives Limited
• Printed Motor Works Limited
• Shinano Kenshi Co., Ltd.
• Siemens AG
• Telco Intercontinental Corporation