Micro Motor Market Size, Share & Trends Analysis Report By Type (AC Motor, DC Motor), By Power Consumption (Below 11V, 12-24 V, 25-48 V, Above 48 V), By Application, By Region, And Segment Forecasts, 2023 - 2030

Micro Motor Market Size, Share & Trends Analysis Report By Type (AC Motor, DC Motor), By Power Consumption (Below 11V, 12-24 V, 25-48 V, Above 48 V), By Application, By Region, And Segment Forecasts, 2023 - 2030

Micro Motor Market Growth & Trends

The global micro motor market size is expected to reach USD 63.57 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 6.2% from 2023 to 2030. Micro motors are known for their compact dimensions, minimal power consumption, and lightweight build. Micro motors have low electromagnetic interference and are widely deployed in several electrical and electronic systems. These motors are well suited for designing compact, complex, and condensed systems while adhering to stringent power limitations. Quieter operation compared to traditional motors and superior performance are some of the advantages of micro motors. Micro motors have high energy efficiency and reliability, provide precise control, lower risks of cogging, and provide dynamic performance owing to their low inductance and inertia.

Micro motors find widespread applications in various fields, including portable computers, medical devices, LED lighting, electronics, mobile phones, Bluetooth devices, vibratory cooling modules, toothbrushes, wearable gadgets, razors, and vibratory feedback systems, among many others. In the healthcare domain, micro motors have played a pivotal role in driving progress in cancer detection and treatment. They have enabled the creation of smaller biopsy devices that have remarkable impacts. These next-gen biopsies have reduced incision sizes by a substantial 80% and slashed procedure times by approximately 75%, showcasing the transformative potential of micro motors in the healthcare sector.

The increasing need for miniaturization across various sectors, aiming to decrease component and product sizes, is strongly contributing to the market's expansion. Notably, domains like the medical and aerospace industries are prominent adopters of this miniaturization trend. Within the medical field, the downsizing of medical equipment is enabling the advancement of less intrusive surgical techniques. Micro motors are finding applications in minimally invasive procedures, such as microdiscectomy, which involves employing smaller incisions and instruments to minimize tissue impact and hasten recovery periods. This trend towards miniaturization is particularly notable in sectors like medical and aerospace, driven by the goal of enhancing efficiency and reducing the overall footprint of components and products.

The motor industry, including micro motors, experienced substantial disruptions due to the global COVID-19 pandemic. The supply chain for micro motors and their components was severely affected, attributed to the widespread disruptions in the global supply network and the closure of international borders. The pandemic-induced halt in production at both original equipment manufacturer (OEM) and supplier facilities had a direct impact on micro motor manufacturing, causing a noticeable reduction in production output.

Furthermore, the economic uncertainty during lockdowns led to a significant decrease in consumer demand for vehicles, directly impacting vehicle sales. As a result, the requirement for micro motors, which are essential components in vehicle manufacturing, saw a corresponding decline. The pandemic's adverse effects extended to the workforce as well. Labor shortages emerged in manufacturing plants due to illness, quarantine protocols, and limitations on employee mobility, leading to reduced production capacity and inevitable delays in output.

However, amidst the challenges, certain sectors experienced growth. Sales of personal care products, power tools, home appliances, and domestic equipment saw an upsurge during the pandemic, driving an increased demand for micro motors in these areas. This shift in demand helped offset some of the declines faced by the vehicle industry, demonstrating the adaptable nature of micro motor applications.

Micro Motor Market Report Highlights

• The AC motor segment is anticipated to grow at the fastest CAGR of 6.5% during the forecast period. The superior performance and high energy efficiency of AC motors are expected to fuel the segment's growth.
• The below 11 V segment dominated the market in 2022, accounting for a market share of about 31% owing to the high product penetration and wide range of applications for below 11V micro motors.
• The healthcare application segment is expected to grow at the fastest CAGR of 7.1% during the forecast period. The growth can be attributed to the high demand for miniaturization from the healthcare sector.
• The Asia Pacific segment dominated the market with a share of nearly 33%. The growth can be attributed to the increasing demand for micro motors to enhance industrial processes through automation across various countries such as China, India, and South Korea in the region.

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