The Global Micro Motor Market was worth US$ 40.34 billion in 2022 and is anticipated to reach a valuation of US$ 53.86 billion by 2028 and is predicted to register a CAGR of 5.09% during 2023-2028.
In brushless micromotors, four or more permanent magnets are placed around the armature or rotor in a cross shape. Brushless micromotors do not require power and are also known as synchronous motors and are available in three-phase, two-phase, and single-phase.
Market Drivers:
Growing demand for micromotor products in automotive, medical, military, aeronautical systems, industrial automation, home appliances, communication equipment, electrical information equipment, and 3D printing could further increase the growth of the global micro motor market in the future. Micromotors are used in laboratory automation systems. The large-scale use of laboratory automation systems has elevated the market for automotive micro products.
Market Restraints:
One of the biggest challenges to the makers in the micromotor market is counterfeiting. Approximately 40% of the parts sold in the aftermarket are counterfeits. Fake products are mainly unauthorized replacement parts available on the market. These unauthorized products involve those that are fake and are sold by suppliers to dealers.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
5.09% |
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Segments Covered |
By Type, Technology, Power Consumption, Application, and Region. |
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Various Analyses Covered |
Global, Regional and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Mitsuba Corporation, Nidec Corporation, Johnson Electric Holdings Limited, Mabuchi Motors, ABB Ltd, Wellings Holdings Ltd, Asmo Co Ltd., Constar, Maxon Motors Ag, Buhler Motors Gmbh, and Others. |
Any expert in motion control should understand the difference between brushed and brushless DC motors. Brushed motors were once very common. Although they have been largely superseded by their brushless counterparts, the correct DC motor of any type can make a project much more efficient.
3D printing, also known as additive manufacturing, is a method of creating a layer-by-layer three-dimensional object using a computer-created design. Specialized equipment for underground mining such as trucks, loaders, excavators, etc., are used to excavate material and are typically transported to the surface with containers or elevators for further processing.
Market Regional Analysis:
The Global Micro Motor Market Report includes the segmentation of regions:
North America is a leading market for micromotors in the world. The United States is the biggest market in North America, trailed by Canada. Europe is another significant market for micro motors on the planet. Germany is the largest market in Europe. France, Italy, Spain, the United Kingdom, Belgium, Sweden, and the Netherlands are other important markets in Europe. The Asia Pacific locale is supposed to rule the micro motors market because of the quick expansion in development and mining action in this area. The development of security focuses, and the expansion in buying power is a portion of the components that can be ascribed to the development of the micromotor market in this locale. Latin America is an important market for micro motors, dominated by Brazil, Mexico, and Argentina. Brazil is the largest micromotor market in Latin America.
Since the outbreak in 2019, the coronavirus has spread to nearly 100 countries around the world, and the WHO declared it a public health emergency. The global impacts of the coronavirus disease are already beginning to be felt and affecting the automotive micro motor market. COVID-19 can affect the worldwide economy by directly affecting production and demand, creating disruptions in the supply chain and the market, and through its financial impact on commercial and financial markets. The Coronavirus has affected many aspects, such as flight cancellations; travel bans and quarantines; closed restaurants; all indoor events restricted; more than 40 countries declared a state of emergency; massive drop in the supply chain; volatility of the stock market; decline in business confidence, growing panic among humans and uncertainty related to the future. The world is grappling with uncertainties and several countries have imposed restrictions that would have a severe impact on economic activities not only for now but during an extended period of time. It is currently one of the least affected countries among the densely populated countries; there are approximately 0.39 cases per million inhabitants: negligible compared to 1,350 cases per million Italians or 258 cases per million Americans. India's decision to block the entire country by closing businesses, restricting the movement of people for a period of 21 days, and the subsequent decision to "stay home" to combat the spread of the disease contagion, was highly appreciated by top executives around the world. This move should be risky for the pace of economic progress, as it slows down business operations and paralyzes economic activity for a significant period.
Market Key Players:
Market Recent Developments:
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