High Consumer Inclination toward Compact Devices Fueling Small Motor Sales
Rockville , Oct. 25, 2023 (GLOBE NEWSWIRE) — The global small motor market accounts for a revenue of US$ 11.3 billion in 2023 and is forecasted to reach US$ 13.78 billion by the end of 2033. This study by Fact.MR, a market research and competitive intelligence provider, suggests that demand for small motors is projected to be led by high use in consumer electronics applications over the coming years.
Growing popularity of miniaturization trend in electronics and other industries has led to increased adoption of small motors around the world. The increasing inclination of consumers toward all kinds of compact devices is also projected to bolster shipments of small motors in the future. The growing adoption of automation in all walks of life is also slated to present new opportunities for small motor providers as small motors are perfect as per automation standards.
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Small motor manufacturers are investing heavily in the R&D of novel motor technologies and launching new products to enhance their sales revenue on a global level.
- In December 2022, Nidec Corporation, a renowned provider of precision motors based in Japan, revealed that it had developed a new DC motor that is designed for use in electric fans. The motor is brushless, low-vibration, single-phase, and affordable.
| Report Attribute | Details |
| Value Projection (2033) | US$ 13.78 Billion |
| Growth Rate (2023-2033) | 2% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 136 Tables |
| No. of Figures | 102 Figures |
Key Takeaways from Market Study
- The small motor market stands at a valuation of US$ 11.3 billion in 2023.
- Demand for small motors is projected to rise at a CAGR of 2% from 2023 to 2033.
- The market is forecasted to attain a revenue of US$ 13.78 billion by 2033-end.
- Increasing use of small motors in automation, high demand for consumer electronics, growing popularity of the miniaturization trend, and increasing consumer preference for compact devices are slated to be prime market drivers in the future.
- Fluctuations in raw materials pricing are forecasted to be a major restraint for market development in the long run.
- DC small motors are projected to account for a share of more than 60% of the global market by the end of 2033.
- Europe and North America account for high small motor demand.
“Offering more capacity and features in a small motor form should be the prime focus of any company looking to succeed in the small motor marketplace through 2033,” says a Fact.MR analyst
Key Companies Profiled in This Report
- Bosch Rexroth AG
- Siemens AG
- Electrocraft Inc.
- Moons Industries America Inc.
- NIDEC Corp.
- Johnson Electric Holdings Limited
- MinebeaMitsumi Inc.
- Schneider Electric SE
- Shinano Kenshi Co. Ltd.
- ABB Ltd.
- AMETEK Inc.
- Toshiba Corporation
Winning Strategy
Small motor suppliers are focusing on launching new products to improve their sales potential and gain a competitive advantage over other market players. Companies are also projected to create specialized motors for specific applications to enhance their market presence for that particular application. Product innovation is estimated to be of the essence for upcoming as well as established small motor distributors looking to make a mark in the global landscape.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global small motor market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on product type (DC brush motors (cored), DC brush motors (coreless), vibration motors, brushless DC motors, PM stepper motors, HB stepper motors, DC axial fans, AC induction motors), supply source (AC, DC), and application (industrial drives, healthcare, aerospace, consumer appliances, consumer electronics, HVAC, others) across six major regions of the world (North America, Europe, Latin America, East Asia, South Asia & Oceania, and the Middle East & Africa).
Explore More Related Studies Published by Fact.MR Research:
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Motor Driver IC Market: The global motor driver IC market is likely to reach a valuation of US$ 732.2 million in 2022 and is expected to progress at a CAGR of 6.9% to reach US$ 1,567.3 million by the end of 2032.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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