What Has Been the Growth of the Micromotor Market So Far?
The micromotor market has seen considerable growth due to a variety of factors.
• The micromotor market has experienced strong growth in recent years. It will grow from $40.17 billion in 2024 to $43.33 billion in 2025, at a CAGR of 7.9%.
This growth is driven by the growing demand for energy efficiency, the increasing need for micromotors in healthcare, advancements in aerospace technology, greater adoption of 3D printing, and expanding use in aerospace and defense.
What Is the Forecasted Market Size and Growth Rate for The Micromotor Market Size In The Coming Years?
The micromotor market is expected to maintain its strong growth trajectory in upcoming years.
• The micromotor market is set to see significant growth, reaching $58.16 billion by 2029 at a CAGR of 7.6%.
This growth is driven by advancements in power tools, the rise of collaborative robots, growing use in construction equipment, developments in energy storage systems, and demand from the home appliance sector. Key trends include micromotor technology advancements, material science progress, sensor and control integration, power generation innovations, and growing automotive parts demand.
What Factors Are Driving Growth In The Micromotor Market?
The rising demand for electric vehicles is expected to fuel the growth of the micromotor market. Electric vehicles (EVs) are gaining popularity due to environmental concerns and improvements in EV technology, which make them more efficient and affordable. Micromotors are used in EVs for applications such as power steering and cooling systems due to their compact size and energy efficiency. According to the Electric Vehicle Council in July 2023, EV sales in Australia surged by 269% in the first half of 2023 compared to the same period in 2022, driving the growth of the micromotor market.
What Are The Main Segments Of The Global Micromotor Market?
The micromotor market covered in this report is segmented –
1) By Type: Alternating Current (AC) Motor, Direct Current (DC) Motor
2) By Technology: Brushed, Brushless
3) By Price Range: Low-Cost Micro Motors, Premium Micro Motors
4) By Application: Automotive, Medical Equipment System, Industrial Automation, Aircraft Systems, Construction And Mining, Agriculture Equipment System, 3-Dimensional Printer System
Subsegments:
1) By Alternating Current (AC) Motor: Single-Phase AC Micromotor, Three-Phase AC Micromotor, Synchronous AC Micromotor, Induction AC Micromotor, Universal AC Micromotor, Brushless AC Micromotor, Linear AC Micromotor, Variable Frequency Drive (VFD) AC Micromotor, Compact AC Micromotor
2) By Direct Current (DC) Motor: Brushed DC Micromotor, Brushless DC Micromotor, Coreless DC Micromotor, Permanent Magnet DC Micromotor, Stepper DC Micromotor, Precision DC Micromotor, High-Speed DC Micromotor, Low-Voltage DC Micromotor, High Torque DC Micromotor, Micro DC Motors With Encoders, Gear DC Micromotors
Pre-Book The Micromotor Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are Emerging Trends Reshaping The Dynamics Of The Micromotor Market?
Leading firms in the micromotor sector are concentrating their efforts on crafting cutting-edge solutions like Micro-Motor Watch to cater to vital market demands. A Micro-Motor Watch is a special kind of hand watch that employs a diminutive engine to drive several features including exact movement of the time hands and more functions like chronographs or alarms. For example, Fastrack GAMBIT, equipped with micro-motor technology, was unveiled in August 2024 by Titan, a company based in India with a focus on consumer lifestyle. This first-of-its-kind collection of micro-motor wristwatches targets the young market, merging fashion with tech. The GAMBIT series showcases several designs incorporating sophisticated micro-motor technology, guaranteeing accurate time keeping in a chic, contemporary style. This unveiling is in line with Titan's approach to bolster its Fastrack brand, aiming to entice fashion-forward consumers who prioritize both looks and practicality in their accessories.
Who Are the Key Players In The Micromotor Market?
Major companies operating in the micromotor market are:
• Hitachi Ltd
• Siemens AG
• ABB Ltd
• Nidec Corporation
• Johnson Electric Holdings Limited
• Mitsuba Corporation
• Mabuchi Motor Co Ltd
• C.I. TAKIRON Corporation
• Maxon Motor Ag
• Vybronics Inc.
• Faulhaber Drive System Technology Co Ltd
• Allied Motion Technologies Inc
• Portescap
• TECO Westinghouse
• Orbray Co. Ltd.
• Shenzhen Zhaowei Machinery & Electronic Co. Ltd.
• Constar Micromotor Co. Ltd
• Ineed Technologies
• Pelonis Technologies Inc.
• Micro Motors SRL
• Risun Expanse Corp.
What Is The Most Dominant Region In The Micromotor Market?
North America was the largest region in the micromotor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the micromotor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
