An increase in urbanization and industrialization in emerging countries such as Germany, France, the U.S., and others fuels the demand for automotive vehicle.
PORTLAND, OR, UNITED STATES, August 12, 2021 /EINPresswire.com/ — Micro motor is compact in size, possesses high torque, requires less maintenance, is low noise level, and provides better torque to weight ratio. This motor is used in various applications such as automotive, beauty & healthcare products, and robotics. Such instances drive the growth of the micro motor market.
The global micro motor market size was valued at $36.48 billion in 2020, and is expected to reach $56.0 billion by 2030, with a CAGR of 4.1% from 2021 to 2030.
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Growing popularity of micro motors, owing to electronic computation in automation and construction applications drives the demand for micro motors in luxury features in the automobiles and electrical vehicles, which fuels the micro motor market growth. For instance, according to Indian Brand Equity Foundation, the pharmaceutical industry in India grew by 10.5% from 2018 to 2019.
Top 10 Leading Players
Mabuchi Motor Co Ltd
Buhler Motor GmbH
Johnson Electric Holdings Limited
Maxon Motor AG
Arc Systems Inc
Constar Micromotor Co Ltd
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Key Market Segments
By Power Consumption
More than 50V
Automotive & Aerospace
The report provides an extensive analysis of the current micro motor market trends and future estimations.
Extensive analysis of global micro motor market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global micro motor market forecast analysis from 2021 to 2030 is included in the report.
The key market players within the global micro motor market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global micro motor market.
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