Global sales of frameless brushless DC motors are set to be valued at US$ 11.73 Bn in 2021, with stable long-term projections, according to latest insights from Persistence Market Research. The report estimates the market to expand at over 4% CAGR through 2031. Demand is especially high for use in industrial drives and the automotive industry, with the inner core motor winding type accounting for around two-third of overall sales. South Asia & Pacific leads the global frameless brushless DC motor market, followed by North America and Europe.
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Artificial Intelligence would be the torchbearer of industrial automation in the next decade. The AI-related techniques are bound to lead not just the wave of technological advancements, but also prove to be economically relevant. This could be credited to powerful and flexible machine software. Also, in future, functional tests concerned with manufacturing equipment are likely to be performed by making use of comprehensive modes regarding virtual and simulation commissioning.
Production machines would thus be digitally fed, that too, with the “live” data all through the equipment’s lifecycle. Wireless protocols such as 5G would be the buzzword going forward. Persistence Market Research is there with the automation-oriented mindsets of its analysts and consultants followed by insights regarding the same.
Key Takeaways from Study
- The electronics equipment industry has witnessed substantial growth in recent years, which is expected to persist going ahead. Positive global electronic spending will lead to increased demand for frameless brushless DC motors.
- The consumer electronics and DIY tools market is projected to register steady growth due to high rate of increasing population and urbanization in emerging countries from Asia Pacific, such as China, India, Indonesia, etc. Rapid growth in electronics production and wide use of DC motors in power tools, computers, refrigerators, etc., is boosting market growth.
- The medical devices segment is expected to lead in terms of both, market share and growth rate during the forecast period. The segment is expected to hold nearly one-third of the market value share throughout the forecast period, attributing to high usage of these motors for precision work purposes.
- Inner core winding motors will hold around two-third overall market share, with high usage in industrial drives and the automotive industry.
- The market in the U.S. is projected to expand at a CAGR of over 4% through 2031, while that in the U.K., China, and India at around 5%.
- Due to the COVID-19 pandemic, the market witnessed a disastrous growth rate of -10.9% in 2020. However, the growth rate is pegged at over 3% for 2021.
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Competitive Landscape
The market is identified to be moderately consolidated, with key players accounting for more than half of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares. Some of the key players in the market are Woodward Inc, Moog Inc, Allied Motion Technologies, Sensata Technologies, Parker Hannifin Corp, Arc Systems, Mclennan Servo Supplies Limited, H2W Technologies, Aerotech Inc, and others
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