Allied Market Research adds “Micro Motors Market Forecast to 2030 – Impact of COVID-19 and Global Analysis” to its store, providing analysis of current and future competition in the market. In-depth review of key industry drivers, opportunities, barriers and challenges. Each trend is independently researched to provide a qualitative analysis of its implications.
the global Micromotors Market size was valued at USD 36.48 Billion in 2020 and is projected to reach USD 56.0 Billion by 2030, growing at a CAGR of 4.1% from 2021 to 2030. In 2020, the Asia-Pacific dominated the global micromotor market, in terms of revenue, accounting for approximately 41.40% global market share.
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The global micromotors market is segmented on the basis of type, technology, power consumption, application and region. On the basis of type, the market is split into AC and DC. AC segment generated the highest revenue in 2020. Based on technology, the market is divided into brushed and brushless. The brushed segment dominated the market in 2020. Based on power consumption, the market is categorized into under 10V, 10V-20V and over 20V. The over 20V segment generated the highest revenue in 2020. Based on application, the market is divided into industrial, automotive & aerospace, healthcare, and others. The industrial segment dominated the market in 2020.
The micromotor is compact in size, has high torque, requires less maintenance, is low noise and has a better torque-to-weight ratio. This motor is used in various applications such as automotive, beauty and health products, and robotics. Such cases are driving the growth of the micromotors market.
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The growing popularity of micromotors, driven by electronic computing in automation and construction applications, is driving the demand for micromotors in luxury features of automobiles and electric vehicles, which is fueling the growth of the micromotors market. For example, according to Indian Brand Equity Foundation, the pharmaceutical industry in India grew by 10.5% between 2018 and 2019.
Various manufacturers in the global micromotor market have had to halt their business operations due to lockdown initiated in countries such as UAE, India, Brazil, and others. This disruption had a direct impact on the sales of micromotor manufacturing companies around the world. For example, Siemens AG’s net sales fell by 0.4% from September 2019 to September 2020. In addition, lack of raw materials, supply chain disruption and lack of labor have interrupted the supply chain of micromotor products. However, the revival of the micromotor industry and the availability of coronavirus disease vaccines are expected to open the global micromotor market to full capacity.
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Main results of the study
- The report provides an in-depth analysis of current and emerging global Micromotors market trends and dynamics.
- By type, the AC segment was the largest revenue generator in 2020.
- By technology, the brushed segment generated the highest revenue in 2020.
- Based on power consumption, the over 20V segment accounted for the highest revenue in 2020.
- Based on application, the industrial segment dominated the market in 2020.
- Regionally, Asia-Pacific is expected to dominate the global micromotors market throughout the study period.
- The report provides an in-depth analysis of global Micromotors market trends and emerging market opportunities.
- The forecast analysis of the global micromotors market from 2021 to 2030 is included in the report.
Mabuchi Motor Co Ltd, Nidec Corporation, Buhler Motor GmbH, Johnson Electric Holdings Limited, Maxon Motor AG, Arc Systems Inc, ABB Group, Mitsuba Corporation, Constar Micromotor Co Ltd and Siemens AG.