Micro Motor Market

Global Micro Motor Market Size (2024 to 2032)

The global micro motor market was valued at USD 42.39 billion in 2023 and is anticipated to reach USD 44.55 billion in 2024 from USD 66.27 billion by 2032, growing at a CAGR of 5.09% from 2024 to 2032.

Current Scenario Of The Global Micro Motor Market

Automotive micromotors are electric motors used in vehicles. Motors generally run on weak Faraday electromagnetic induction and convert electrical energy into mechanical energy., AC micromotors are electric motors that run on alternating current. DC micromotors are electric motors that run on direct current and convert electrical energy into mechanical energy. Brushed micromotors consist of an armature or rotor, a field magnet, a shaft, a commutator, and brushes. The brushes develop a polarity on the collector that is opposite to the polarity of the field magnet, causing the armature or rotor to rotate. The pivot course of the rotator can be clockwise or by turning around the extremity of the brushes, the rotator can pivot counterclockwise.

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 microproducts.

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.

Impact of COVID-19 on Micro Motor Market

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.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Micro Motor Market By Technology

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.

Global Micro Motor Market By Application

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.

REGIONAL ANALYSIS

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 are 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.

KEY MARKET PLAYERS

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. Some of the market players dominate micro motor market.

RECENT HAPPENINGS IN THE GLOBAL MICRO MOTOR MARKET

• Maxon dispatches the up-and-coming age of movement regulators with its MiniMACS6-AMP-4/50/10. The regulator is ideal for use in applications where PLC arrangements might be too costly or not meet explicit client necessities.
• Johnson Electric announced the compact DC motor product line that offers the highest power density in the industry. This innovation is based on Johnson Electric's exclusive Curve technology.
• Nidec Copal Corporation has procured the Micro Motor Business from Nidec Seimitsu Corporation. Through the mix and collaboration of innovation, it can improve R&D and design limits and expand market intensity.

DETAILED SEGMENTATION OF THE GLOBAL MICRO MOTOR MARKET INCLUDED IN THIS REPORT

This research report on the global micro motor market is segmented and sub-segmented into the following categories.

By Type

• AC
• DC

By Technology

• Brushed
• Brushless

By Power Consumption

• Below 11V
• 12 – 24V
• 25 – 48V
• Above 48V

By Application

• Automotive
• Medical Equipment
• Industrial Automation
• Aircraft
• Agricultural Equipment
• Construction & Mining Equipment
• 3D Printing

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa