Micro Motor Market Size to Worth USD 81.37 Billion at 7.30% CAGR by 2032 | Research by S&S Insider

The micro motor market involves small-scale motors, typically used in applications requiring compact, efficient, and high-performance solutions.

AUSTIN, TX, UNITED STATES, November 12, 2024 /EINPresswire.com/ -- Market Size & Industry Insights

As Per the S&S Insider,“The Micro Motor Market was valued at USD 43.30 billion in 2023 and is expected to reach USD 81.37 billion by 2032, growing at a CAGR of 7.30% over the forecast period 2024-2032.”

Micro motors are essential in medical uses because of their accuracy and dependability. These small motors are essential for surgery tools, dental equipment, and different medical devices, allowing for precise actions and treatments. In the United States, there has been a significant increase in the use of robotic-assisted surgeries and telemedicine recently. It is expected that around 15% of surgical procedures in the U.S. will utilize robotic assistance by 2024, which represents a notable rise compared to earlier years when these tools were primarily used for specialized surgeries. At the same time, telemedicine has seen significant expansion, particularly throughout and following the COVID-19 outbreak, with virtual care options now provided by more than 75% of U.S. hospitals. Studies show that 85% of patients are willing to use telemedicine for their healthcare requirements, indicating a change in perceptions towards remote services. Telemedicine could potentially cut healthcare costs by over USD 100 billion every year by decreasing the need for face-to-face appointments. The increasing use of robotic-assisted surgeries and telemedicine is predicted to boost the need for innovative micro motors that can provide top performance in small sizes. Advancements such as brushless DC mini motors are growing in importance, offering improved efficiency and durability crucial for life-saving medical equipment.

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SWOT Analysis of Key Players as follows:

-Nidec Corporation
-Mabuchi Motor Co. Ltd.
-Johnson Electric Holdings Limited
-Maxon Group
-Faulhaber Group
-ABB Ltd.
-Allied Motion Technologies Inc.
-Denso Corporation
-Portescap
-Moog Inc.
-Siemens AG
-MinebeaMitsumi Inc.
-Yaskawa Electric Corporation
-Shinano Kenshi Co. Ltd.
-Oriental Motor Co. Ltd.
-Asmo Co. Ltd.
-Mitsuba Corporation
-AMETEK Inc.
-Parvalux Electric Motors Ltd.
-Koford Engineering LLC

Segment Analysis

By Type:

In 2023, DC motors dominated the market, capturing a significant 65% market share. Due to their broad usage and efficient power management, they are the top choice in multiple sectors. DC motors are known for their excellent speed control and high starting torque, which makes them perfect for tasks that require precision. They are extensively used in industries like automotive, robotics, and medical devices, where effective and dependable functioning is crucial. An example is how Johnson Electric utilizes DC motors in automotive parts such as window lifters and seat adjusters.

By Power Consumption:

In 2023, the below 11V segment held a substantial market share of 36% in the micro motor market, primarily because of its compatibility with low-power uses like consumer electronics and small medical devices. These small motors are popular for their energy efficiency, minimal space requirement, and cost-effectiveness. Healthcare sectors heavily depend on these motors for tools like insulin pumps and dental equipment, where space and efficiency are crucial. A case in point is Johnson Electric, which offers micro motors tailored for household appliances and electronic devices, showcasing the real-world use of motors below 11V in common items.

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KEY MARKET SEGMENTS:

By Type
-AC Motor
-DC Motor
~Brushed
~Brushless

By Power Consumption
-Below 11V
-12-24 V
-25-48 V
-Above 48 V

By Application
-Automotive
-Industrial Automation
-Electronic Appliances
-Healthcare
-Aerospace
-Others

Regional Analysis

In 2023, the Asia Pacific region dominated the micro motor market with a 35% market share. The increased R&D investments from top companies and high adoption rates of micro motor technology are what drive this dominance. China, specifically, is a major player, with many manufacturers serving both local and global markets. Anticipated growth in the region is expected as micro motors become more common in consumer electronics and automotive use.

North America is anticipated to become the fastest-growing region in the micro motor market, driven by big tech companies and their need for innovative micro motor solutions. Market growth is being driven by the increasing presence of industries like robotics and telemedicine. Companies such as Medtronic and Intuitive Surgical are leading the way by using micro motors in creative surgical technology.

Recent Developments

August 2024 - Advanced Brushless DC Micro Motors - Launch of high-performance brushless DC micro motors designed for medical applications.
February 2024 - Smart Micro Motor Technology - Introduction of smart micro motors featuring IoT connectivity for enhanced precision in automation.
August 2024 - Fastrack, the top youth fashion brand in India, introduces GAMBIT - This collection showcases a distinctive dial design incorporating three separate micro motors, giving it a speedometer-inspired appearance.

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Future Trends in the Micro Motor Market

Anticipated in the next few years are multiple transformative trends in the micro motor market. Important improvements involve incorporating artificial intelligence (AI) and machine learning (ML) into micro motor designs, which improve operational efficiency and allow for real-time performance monitoring. Moreover, with the rising importance of sustainability in industries, there will be an increasing emphasis on creating environmentally-friendly micro motors that use less energy and can be recycled. The increasing utilization of automation in different industries will continue to stimulate creativity, resulting in the development of advanced and smaller micro motors tailored for the needs of future applications.

Table of Content - Major Points Analysis

Chapter 1. Introduction

Chapter 2. Executive Summary

Chapter 3. Research Methodology

Chapter 4. Market Dynamics Impact Analysis

Chapter 5. Statistical Insights and Trends Reporting

Chapter 6. Competitive Landscape

Chapter 7. Micro Motor Market Segmentation, by Type

Chapter 8. Micro Motor Market Segmentation, by Power Consumption

Chapter 9. Micro Motor Market Segmentation, by Application

Chapter 10. Regional Analysis

Chapter 11. Company Profiles

Chapter 12. Use Cases and Best Practices

Chapter 13. Conclusion

Continued…

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Akash Anand
SNS Insider Pvt. Ltd
+1 415-230-0044
info@snsinsider.com
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