Global Micro Motor Market

Micro Motor Market Size, Share, Growth Analysis, By Type(AC and DC), By Technology(Brushed motor, and brushless motor), By Power consumption(Below 9V, 10V-20V), By Application(Medical equipment, automotive) - Industry Forecast 2024-2031

Report ID: SQMIG20I2056 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 117 | Figures: 77

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Micro Motor Market size was valued at USD 39052.11 million in 2019 and is poised to grow from USD 40653.25 million in 2023 to USD 56066.2 million by 2031, growing at a CAGR of 4.1% in the forecast period (2024-2031).

micro motor market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Maxon Motors Ag', ' Nidec Corporation ', ' Johnson Electric Holdings Limited ', ' Mabuchi Motor Co. Ltd. ', ' Minebea Mitsumi Inc. ', ' Bühler Motor GmbH ', ' Portescap ', ' Allied Motion Technologies Inc. ', ' Faulhaber Group ', ' Shinano Kenshi Co. Ltd. ', ' Mitsuba Corporation ', ' AMETEK Inc. ', ' Asmo Co. Ltd. ', ' Mclennan Servo Supplies Ltd. ', ' COMSOL Inc. ', ' Oriental Motor Co. Ltd. ', ' Globe Motors Inc. ', ' Anaheim Automation Inc. ', ' Crouzet Automatismes SAS ', ' TMEIC '

Increased automation in industries is one of the principal reasons expected to propel the expansion of the market. This is most visible in the medical industry, which promotes the use of automation to strengthen traditional medical service standards. Using cost-effective options such as micro motors, laboratories can achieve operational automation for testing large amounts of samples quickly and efficiently.

Micro motors are in high demand from major automotive manufacturers worldwide. Automotive parts and components are in high demand for a variety of applications. The market adoption of various micromotors is being driven by the demand for DC and brushed micromotors. Micromotors are now available in automotive seats to improve massager capabilities. ORVM, power windows, and other key applications of micromotors are seeing increased adoption. As a result of the rise of smart technologies in the automotive sector, demand appears to be much more effective.

The Asia Pacific (APAC) region held the dominant position in the micro motor market share during the forecast period due to increasing demand and application from various end use industries, increasing technological advancements and demand from emerging countries, growing potential application of micro motor with the advent of technology, and increasing adoption of automation processes in this region. The rapid growth of manufacturing these motors in China is propelling regional growth. China is also a major exporter of automobiles and auto parts. As a result, increased car production in the region is expected to drive market growth during the forecasting years.

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