Miniature Motors Market Forecast and CAGR
According to research estimates, the Miniature Motors market is anticipated to exhibit promising growth between 8% and 9% during the tenure of 2021 to 2031. Design upgrades and customized solutions are expected to drive the demand in the forecast period.
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What Factors are Augmenting the Sales of Miniature Motors?
Manufacturers are continuously focusing on R&D to develop new and effective motor configurations to meet varied end-user demand. Increasing concerns, such as environmental pollution and regulations, are forcing suppliers to develop motors that reduce vibration and increase efficiency.
The expanding development in industrial automation, automotive industry, and electrical industry, have fueled in demand for these motors and help to addressed these sectoral demands with quality and safety. New motor design is encapsulating electronic and electromechanical components. Design upgrades are extending service life and intended to reduce shocks and vibrations in motor body. Easy-to operate-features, low-profile configuration, precise dynamic motion, robustness and dexterity are making them a right solution across various industrial landscapes, thus augmenting sales in the near to medium growth outlook.
North America Market Growth Outlook
Over the last decade, manufacturers have integrated various technologies to ensure efficient operation in the motor sector. Following that, North America holds highest share in the global miniature motors market. In U.S. and Canada, Mini motors can handle the special issues of the surgical, warehouse, cobot, and service robots industries thanks to disruptive technology. With the rise of smaller and better robotic designs, breakthroughs in artificial intelligence and machine learning (AI) are driving robotics innovation, allowing them to spread into industries across North America.
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Europe Demand Potential for Miniature Motors
The market for miniature motors in Europe is dominated by OEMs with a substantial presence. Industry-specific motors are developed by OEMs, particularly for the automotive and process sectors. In Europe, robot dependency on motors for motion control, is becoming critical for robotics evolution.
Amid the continuing economic crisis in Europe, exporters from developing economies may find chances in the recovering market. Energy efficiency being the key trend in the motor business, is propelling the demand, according to the European Minimum Energy Performance Standards (MEPS) program.
Who are the Key Manufacturers and Suppliers of Miniature Motors?
Some of the leading manufacturers and suppliers include
- ABB Ltd.
- Faulhaber Group
- Johnson Electric Holdings Limited
- Mabuchi Motor Co. Ltd.
- Maxon Motor Group
- Nidec Motor Corporation
- Moog Inc.
- Precision Microdrives Limited
- Siemens AG; Hyundai Electric Co. Ltd.
- Hyosung Corporation.
Suppliers emphasize that they can meet customer needs for a multitude of scenarios and applications. For suppliers, the ability to tailor motors is critical. They make the motors in such a way that all of the parameters, such as custom designs, mountings, motor capacity and arrangement, rotor structure, and composition elements, may be easily adjusted for a specific end-use.
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