Engineers working on the design of various devices in a variety of industries are faced with the ever-increasing difficulty of producing high-efficiency goods while keeping gadget sizes to a minimum. Design engineers are usually looking for ways to get more power from a smaller gadget that is more efficient and has a longer life. In the case of handheld devices, this is done to reduce power consumption and encourage simple usability.
According to Fact.MR, the global small motors market is expected to reach a value of about US$ 9,766 Mn in 2026, with a slow CAGR throughout the assessment period.
4 Highlights of the Global Small Motors Market Forecast
The DC brush motors (cored) segment is expected to reach roughly US$ 2,560 Mn in 2022, according to Fact.projection. MR’s During the evaluation period of 2017-2026, this reflects a negative CAGR growth. By the end of 2017, the DC brush motors (cored) segment is predicted to account for over a third of the revenue share of the product type segment, but it is expected to lose market share by the end of 2026.
According to Fact.MR projection, Fact.MR’s the AC small motors segment will be worth about US$ 2,920 million in 2026. During the forecast period, this implies a slow CAGR growth.
What are the Small Motors Market’s Growth Drivers?
A fundamental feature of compact motors that has been pushing their sales in recent years is the elimination of additional accessories that are utilised in conventional motors. Furthermore, the growing trend of shrinking in the electronics industry has aided in the use of small motors.
Due to the compliance of small motors with automation standards, sales of this compact and efficient power transmission equipment are expected to be in high demand in the near future.
The small motors market is expected to expand due to rising demand for small motors in medical equipment due to its high efficiency, longer life, and reduced replacement costs as compared to their conventional counterparts.
What are the obstacles to the growth of the small vehicle market?
Changing taxation regulations on raw materials have resulted in price changes, which have an impact on the finished product’s cost. The adoption of compact motors by global industry leaders has been further hampered as a result of this.
Governments in APEJ have imposed high excise duties on import and export activities, limiting expansion potential for small motors market players in the region.
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