Global Micro Motor Market is valued approximately at USD 37,973.5 million in 2021 and is anticipated to grow with a healthy growth rate of more than 4.1 % over the forecast period 2022-2028. Micro motor is lighter and compact in size and Micro motor is basically designed for low power consumption and minimizes electromagnetic interference. It has features such as quick operation, superior performance, and broader power option. The benefit associated with micro motor and rise in awareness about electric and green vehicles among customers has led the adoption of Micro Motor across the forecast period. For Instance: as per the IBEF in 2021, 3,29,190 electric vehicles were sold in India, representing a 168 per cent increase over last year's sales of 1,22,607 units, with a combined market share of 90%, 2-Wheelers and low-speed L3 Category 3-Wheelers are the most popular electric vehicles. As per the European environment agency there has been a steady increase in the number of new electric car registrations annually, from 700 units in 2010 to about 550,000 units in 2019 (3.5% of new registrations). In 2020, electric car registrations surged, accounting for 11% of newly registered passenger cars. Al so, with the standardization and regulatory norms in emerging markets, the adoption & demand for Micro Motor is likely to push the market growth during the forecast period. However, fluctuation in raw material prices impedes the growth of the market over the forecast period of 2022-2028.

The key regions considered for the Global Micro Motor Market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading region across the world in terms of market share owing to the rise in demand for DC motors in HVAC, agriculture, and other applications. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2022-2028 due to rise in trend of industrial automation and growing popularity of miniature electronic devices fuel would create lucrative growth prospects for the Micro Motor Market across Asia-Pacific region.

Major market player included in this report are:

Siemens AG

Mabuchi Motor Co Ltd

Nidec Corporation

Buhler Motor GmbH

Johnson Electric Holdings Limited

Maxon Motor AG

Arc Systems Inc

ABB Group

Mitsuba Corporation

Constar Micromotor Co Ltd

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology:

Brushed Motor

Brushless Motor

By Application:

Industrial

Automotive & Aerospace

Healthcare

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global Micro Motor Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors