Market Report Summary
Market – Frameless Brushless DC Motor Market
Market Value – US$ 11.73 Bn in 2021
Market CAGR Value – 4% in 2021 to 2031
Market Forecast Year – 2021 to 2031
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According to the latest findings from Persistence Market Research, global frameless brushless DC motor sales are estimated at $ 11.73 billion in 2021 with stable long-term projections. The report estimates the market will grow above 4% CAGR by 2031. Demand is particularly high for use in industrial drives and the automotive industry, with the motor winding type with an inner core making up around two thirds of total sales. South Asia and the Pacific lead the global frameless brushless DC motor market, followed by North America and Europe.
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Artificial intelligence would be the torchbearer for industrial automation in the next decade. The AI-related techniques will not only lead the wave of technological advancement, they will also prove to be economically relevant. This is due to a powerful and flexible machine software. Function tests on production systems are also expected to be carried out in the future using comprehensive modes for virtual and simulation commissioning.
Production machines would thus be digitally supplied with the “live” data over the entire life cycle of the system. Wireless protocols like 5G would be the buzzword of the future. Persistence Market Research is there with the automation-oriented mindset of its analysts and consultants, followed by insights into it.
Important findings from the course
· The electronics industry has seen significant growth in recent years and is expected to continue in the future. Positive global spending on electronics will lead to increased demand for frameless brushless DC motors.
· The consumer electronics and home improvement tool market is expected to see steady growth due to high population growth and urbanization in emerging Asia Pacific countries like China, India, Indonesia, etc. Rapid growth in electronics production and widespread use of DC motors in power tools, computers, refrigerators, etc., is driving the 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 a third of the market value share throughout the forecast period, due to the high usage of these engines for precision work purposes.
· Motors with inner core windings will hold around two thirds of the total market, with a high level of use in industrial drives and the automotive industry.
· The US market is expected to grow at a CAGR of over 4% through 2031, while that of the UK, China and India is expected to grow by around 5%.
· Due to the COVID-19 pandemic, the market saw a catastrophic growth rate of -10.9% in 2020. For 2021, however, the growth rate will be over 3%.
Competitive landscape
The market is identified as moderately consolidated, with the major players making up more than half of the market share. These players are likely to invest in new technology developments and network expansion in order to maintain their market share. Some of the major 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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