Micromotor Market Forecasts to 2028 – Global Analysis By Type (AC Motor and DC Motor), Power Consumption (<11V, 12–24V, 25-48V and >48 KW), Technology (Brushed Micromotor and Brushless Micromotor), Application and By Geography

Micromotor Market Forecasts to 2028 – Global Analysis By Type (AC Motor and DC Motor), Power Consumption (<11V, 12–24V, 25-48V and >48 KW), Technology (Brushed Micromotor and Brushless Micromotor), Application and By Geography

According to Stratistics MRC, the Global Micromotor Market is accounted for $40.43 billion in 2022 and is expected to reach $74.81 billion by 2028 growing at a CAGR of 10.8% during the forecast period. Small electrical motors known as micro motors transform electrical energy into mechanical energy. Either direct current or alternative current sources are used to power these motors. They operate on the same principle as an electric generator, but in the opposite direction. For instance, in an electric generator, mechanical energy is transformed into electrical energy and then supplied to electrical appliances and motors, whereas in electric motors, this electrical energy received from the electric generators is transformed into mechanical energy to operate the appliance they are installed upon. A variety of industries and market segments, rising technological advancements and demand from developing nations and regions, rising applicability of micro motor with the advent of technology, and rising demand for micro motor is on a steady upturn.

According to the China Association of Automobile Manufacturers, the largest car market in the world, i.e., China, grew by 3.8% Y-o-Y after a monthly sales of 2.7 million vehicles in December Q4 FY21 and brought total sales to 26.2 million.

Market Dynamics

Driver

Increasing industrial automation

The rising trend of automation in many industrial processes is what is driving the need for micro motors. Industries with poor profitability, such oil and gas, metal, and packing, now require industrial management and factory automation. For the automobile sector to minimise production flaws that cause significant losses, accurate assembly is also necessary. This is accomplished by the use of multiple micromotors in industrial automation devices and equipment including robotic welding, automated testing probes, specialised conveyor belts, and 5-axis CNC systems. Considering that micromotors offer the speed, accuracy, and control necessary for contemporary production processes, the trend towards automation in various industrial processes is anticipated to fuel the need for them throughout the projected period.

Restraint

High expenses of cutting-edge services and technology used in micromotor manufacture

Micromotor manufacture requires the use of cutting-edge technology and specialised manufacturing techniques, which can be expensive to create and maintain. The industry also mandates the use of cutting-edge materials, which raises expenses even further. In addition, the demand for them is frequently lower than that of other industrial goods, making it difficult to achieve economies of scale and maintain low prices. This is particularly true for specialised micromotors designed for specialised applications, where extensive customisation and development are required, driving up costs even more.

Opportunity

Accelerating modifications in medical technology

A number of reasons, including the rapid improvement of technology in medical equipment, are driving the micromotor industry. There is a rising need for modern medical technologies that are more precise and accurate as chronic illness rates and healthcare expenses rise. Since they are utilised in many medical equipment, including surgical robots, implantable technologies, dental hand pieces, and diagnostic instruments, they are essential to addressing this need. Their rising demand in the medical industry is also partly due to their potential to be incorporated into small, portable medical equipment creating wide range of opportunities in the growth of the market.

Threat

Availability of subpar goods

Organised suppliers are growing more worried about the market's availability of cheap, locally built micromotors. Although these micromotors are less expensive, they could not fulfil the necessary OEM criteria, which might result in a number of problems like decreased durability, subpar performance, and even possible health hazards. Raising issues with dishonest manufacturing techniques such copying or modifying the original product or giving it false information regarding its qualities is significantly challenged by this circumstance, which has an effect on market share and profitability.

Covid-19 Impact

The COVID-19 pandemic has had a detrimental impact on the worldwide micro motor market principally as a result of the suspension of international commerce, extended lockdowns, and stopped production processes in the electronics and manufacturing industries. The COVID-19 pandemic has also had a detrimental impact on the worldwide micro motor industry as a result of the suspension of international commerce, protracted lockdowns, and stopped manufacturing processes in the electronics and manufacturing sectors. However, developments in this industry started to pick up speed in the post-COVID environment.

The AC motor segment is expected to be the largest during the forecast period

The AC motor segment is estimated to have a lucrative growth, due to their higher performance and energy economy, and they are more trustworthy and long-lasting than DC motors, they have simpler designs and fewer moving components. Additionally, AC motors have the ability to run at faster speeds and with less power consumption, which is crucial for applications that need precise control and low energy use and work more effectively and consistently in industrial and commercial environments where they may be used in HVAC systems, pumps, and compressors which are propelling the growth of the market.

The medical equipment system segment is expected to have the highest CAGR during the forecast period

The medical equipment system segment is anticipated to witness the highest CAGR growth during the forecast period. Micromotors have transformed surgical techniques by enabling surgeons to more precisely manipulate surgical tools, resulting in less invasive and more efficient treatments. Medical instruments and equipment that may be moved and utilised in a variety of locations, including ambulances, clinics, residences, and isolated areas are known as portable medical devices. For drug administration, surgery, and diagnostics, portable medical devices are increasingly using micromotors thereby driving the market.

Region with highest share

Asia Pacific is projected to hold the highest market share during the forecast period owing to the rising demand brought on by growing industrial process automation, an increase in the manufacturing of medical equipment, and an increase in automotive sales. Additionally, the region's need for micromotors is being fuelled by the growing use of Industry 4.0 and automation. The need for effective and accurate micromotors is rising as automation and robots become more widely used in sectors including manufacturing, automotive, and electronics.

Region with highest CAGR

Europe is projected to have the highest CAGR over the forecast period, owing to expanding technological breakthroughs and rising end-user demand with the development of technology, the use of micro motors has increased, and automation processes are being adopted more frequently in this area. This region in terms of growth and because of the area's desire for high-efficiency motors and developing incredible design advancements has increased use of micro motors in industries.

Key players in the market

Some of the key players profiled in the Micromotor Market include ASMO CO Ltd, Johnson Electric Holdings Limited, Buhler Motor GmbH, Mabuchi Motors, NIDEC Corporation, Wellings Holding Ltd, Mitsuba Corporation, Constar Motor, Maxon Motors AG, Arc Systems Inc, ABB Group, Siemens AG, ABShot Tecnics S.L., New Guanlian Motor, Shinano Kenshi Co.Ltd, Precision Microdrives Limited and Printed Motor Work.

Key Developments

In March 2023, Mabuchi Motors announced the completion of the acquisition of all the share of Oken Seiko. Co. Ltd, the company will acquire and utilize Oken Seikos technology and product line up of rolling pumps and promote sale of unit operations.

In October 2022, Johnson Electric acquires a majority stake in Pendix GmbH, a German-based provider of electric drives and e-bikes, with Johnson Electric’s industrial scale and global reach together with Pendix’s expertise in the e-bike sector, are positioning themselves into a fast-growing and innovative industry.

In September 2022, Johnson Electric launches LuMEMS (leveling using MEMS), With LuMEMS, vehicle pitch sensing is achieved through an electronic chip, removing the need for traditional mechanical sensors.

Types Covered
• AC Motor
• DC Motor

Power Consumptions Covered
• <11V
• 12–24V
• 25-48V
• >48 KW

Technologies Covered
• Brushed Micromotor
• Brushless Micromotor

Applications Covered
• Medical Equipment System
• Aircraft Systems
• Automotive
• Industrial Automation
• Agriculture Equipment System
• 3D Printer System
• Construction & Mining

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities,Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements