Published Date: 31-May-2023
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According to a new report, published by KBV research, The Global Micromotor Market size is expected to reach $68.6 billion by 2029, rising at a market growth of 7.6% CAGR during the forecast period.
The Healthcare segment is showcasing a CAGR of 8.1% during (2023 - 2029). Through the creation of portable medical devices, which enable medical professionals to deliver high-quality care outside of traditional medical settings, the healthcare sector has undergone an important change. By aiding early disease identification and lowering healthcare expenses, modern devices can lower hospitalization rates and enhance patient outcomes. In addition, micro motors have transformed surgery, enabling surgeons to manipulate surgical instruments, resulting in more successful and less invasive surgeries.
The AC Motors segment acquired maximum revenue share in the Global Micromotor Market by Type in 2022 thereby, achieving a market value of $42 billion by 2029. Because of its higher performance and energy economy, AC-type motor demand is anticipated to increase significantly in the micro motor market. AC motors are more long-lasting and dependable because of their simpler design and lower number of moving parts. In addition, AC motors may run faster and use less power, which is crucial for applications that need precise control and low energy use.
The Brushless segment has shown the growth rate of 8.7% during (2023 - 2029). Brushless micro motors have gained popularity as the demand for energy-efficient innovations has grown. In order to provide the equivalent quantity of power, brushless micro motors require less energy, which lowers costs and has a less negative impact on the environment. Brushless micro motors are chosen even in some vehicle applications like power windows, windshield wipers, and power seat adjustments due to the requirement for more reliable and efficient micromotor technology.
The 12-24 V segment is leading the Global Micromotor Market by Power Consumption in 2022 thereby, achieving a market value of $30.1 billion by 2029. Due to attributes like energy economy, variable speed, environmental friendliness, compact size, and low maintenance costs, 12-24V motors are becoming increasingly popular in agriculture, HVAC, and other applications. In addition, the demand for automobiles is fueled by the increased urbanization and industry occurring in developing nations like Germany, France, the United States, and others.
The Asia Pacific market dominated the Global Micromotor Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $25 billion by 2029. The Europe market is exhibiting a CAGR of 6.9% during (2023 - 2029). Additionally, The North America market would showcase a CAGR of 7.4% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/micromotor-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of MITSUBA Corporation, Nidec Corporation, Johnson Electric Holdings Limited, Mabuchi Motor Co., Ltd., Maxon Motor Ag, Constar Micromotor Co., Ltd., Bühler Motor GmbH, Siemens AG, ABB Group, and ARC Systems, Inc.
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