MICRO MOTOR MARKET ANALYSIS

The global Micro Motor market size was valued at US$ 42.54 Billion in 2024 and is expected to reach US$ 67.01 Billion by 2031, grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.

Micro motors are miniaturized motors with a diameter less than 25.4 mm. They are used across various applications such as medical equipment, industrial automation, automotive, construction equipment owing to their compact size, high torque, and customized speed control. The key drivers include increasing adoption of automated systems and robotics. The Micro Motor Market is segmented by type, technology, application, end-user industry and region. By type, the market is segmented into AC, DC and stepper micro-motors. The DC micro-motors segment accounts for the largest share owing to their increasing use in automotive and medical devices.

Micro Motor Market Regional Insights

• North America is expected to be the largest market for Micro Motor Market during the forecast period, accounting for over 28.7% of the market share in 2023. The growth of the market in North America is attributed to the high adoption of automation and presence of major manufacturers.
• The Europe market is expected to be the second-largest market for Micro Motor Market, accounting for over 23% of the market share in 2023. The growth of the market in is attributed to increasing investments in industrial automation.
• The Asia Pacific market is expected to be the fastest-growing market for Micro Motor Market, with a CAGR of over 37% during the forecast period. The growth of the market in Asia Pacific is attributed to rapid industrialization and growing automation across various sectors.

Figure 1. Global Micro Motor Market Share (%), by Region, 2023

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Analyst Viewpoint:

The mini motor market appears poised for steady growth over the next five years. Asia Pacific, particularly countries like China and India, are expected to drive much of the demand due to rising personal incomes and discretionary spending in developing nations. Lowered transportation costs and convenient form factors of mini motors are attractive for both personal and commercial use cases across densely populated metropolitan areas.

However, market growth could be restrained by rising raw material costs and supply chain disruptions that push up product prices. Strict emission regulations being introduced in several countries may also slightly hamper sales if manufacturers struggle to cost-effectively meet the new compliance standards. Nevertheless, most mini motor producers have already invested heavily in R&D to develop cleaner and more efficient engine technologies.

New last-mile delivery applications for both packages and food are an opportunity to expand usage of mini trucks and vans beyond commuters. Collaboration with leading logistics companies could significantly broaden the commercial user base. Fleet sales may emerge as a larger segment compared to individual buyers. Younger consumers interested in micro-mobility solutions also present a promising demographic for mini motorcycles and scooters.

North America and Europe currently generate the largest mini motor revenues given the existing high vehicle ownership in developed markets. But new shared mobility adoption rates in Asia coupled with the region's growing middle class will likely propel it.

Micro Motor Market Drivers:

Increasing Adoption of Automated Systems: The growing adoption of automated systems and robotics across industries such as healthcare, automotive and aerospace is driving the demand for micro motors. Key companies are launching new automated products to capitalize on this trend. According to International Federation of Robotics, worldwide sales of industrial robots increased by 31% to $16.5 billion in 2021 compared to 2020 figures. A major use of these robots is for automating processes in SMEs across sectors like electronics, automotive, food processing etc. This rising adoption of compact robotic arms and autonomous vehicles in small industries has created robust demand for application-specific mini motors.

Rapid Industrialization in Emerging Economies:

The rapid pace of industrialization and infrastructure development in emerging economies is leading to increasing demand for micro motors for use across industrial machinery and systems. For instance, China's industrial robot installations increased 20% in 2021.

In India, as per the World Bank data, the urban population grew from 30% in 2011 to 35% in 2021. This massive influx of people in cities has stressed city transportation like never before. Additionally, rising income levels have also increased individual mobility requirements within cities. Mini motor vehicles such as electric rickshaws and scooters are helping bridge the gaps and providing first and last mile connectivity in an environment friendly manner. As per data from Ministry of Housing and Urban Affairs, Government of India, the electric rickshaw sector grew by 20% annually between 2018 to 2021 in tier-2 and tier-3 cities creating thousands of jobs for rickshaw drivers.

Micro Motor Market Opportunities:

Emergence of Collaborative Robots: The emergence of collaborative robots that work safely alongside humans in shared workspaces presents an opportunity for micro motor manufacturers. Compact motors are required to facilitate robot movements. According to the International Federation of Robotics, collaborative robot installations grew by over 30% annually between 2020 to 2022 with expanding application in SMEs across Europe and Asia. As mini motors are a key component in various electronics and appliances, their localized production capacity enabled by robots could foster growth of supporting industries in these regions.

Beyond assembly, collaborative robotics also offers opportunities across the mini motor product development cycle from prototyping to testing. Their dexterous handling abilities allow running multiple small-batch trials with minor design tweaks in parallel, significantly reducing time-to-market for new product launches. The European Commission estimated that increased usage of robotic process automation could potentially boost European manufacturing output by 6-8% and create over 2 million new jobs by 2030.

Rising Demand for Electric Vehicles: The global electric vehicles market is projected to grow at a CAGR of 22% from 2022 to 2030. This presents lucrative opportunities for micro motor suppliers, as EVs utilize high precision motors for steering and other systems. Governments across countries are also supporting electric vehicles adoption through lucrative purchase incentives and subsidies. According to the International Energy Agency (IEA), in 2020 around 3 million electric vehicles were sold worldwide which was 43% higher than 2019. The IEA also estimates that electric car and urban bus stock reached 10 million in 2021 with overall electric vehicle stock exceeding 16 million. With falling battery prices and continuous technology advancement, the total cost of ownership of electric vehicles is also getting closer to that of gasoline vehicles which will further fuel their demand. More charging options and nationwide fast charging infrastructure being built will also alleviate range anxiety issue.

Micro Motor Market Trends:

Development of Smart Micro Motors:

Key manufacturers are engaged in developing smart micro motors with in-built sensors, servo drives and controllers to provide real-time diagnostics and monitoring. This facilitates predictive maintenance and reduces downtime. For instance, smartwatch makers are incorporating these motors in their devices to control haptic feedback mechanisms with high fidelity. As per eMarketer data in 2022, smartwatch shipment grew by over 15% globally from the previous year. This increase in smartwatch sales is providing opportunities for micro motor manufacturers to develop customized motors for different haptic feedback requirements.

Drones and robotics industry is another major area that is benefiting from advancement in micro motor technology. According to International Federation of Robotics report in 2021, worldwide professional service robot revenue grew by 20% from 2020. Continuous improvement in miniaturization, power, and sensor integration of micro motors allows design of compact and precise propulsion and actuation systems. This enables development of more versatile consumer and industrial drone models. It also aids in expanding applications of industrial robots for new tasks. The growing demand for drones and robots worldwide is driving significant innovation in micro motors targeted at these applications.

Focus on Improving Energy Efficiency:

Ongoing efforts towards enhancing efficiency of micro motors by using alternative materials such as amorphous metals and development of 3-phase technology are key trends stimulating product demand across industries. Governments and organizations around the world have implemented new policies and regulations mandating higher energy performance standards for appliances and devices that use mini motors. This includes everything from personal care products to office equipment. Manufacturers are under increasing pressure to design mini motors that consume less power yet still deliver the necessary functionality. Mini motor producers have invested heavily in research and development of new motor technologies that improve efficiency measures like power factor, operating voltage range and no-load power draw. For example, in 2022 the International Electro technical Commission published data showing mini motors developed by a leading manufacturer were achieving 15-20% reductions in no-load power consumption compared to previous designs. Another major player unveiled a new ''brushless'' mini motor for vacuum cleaners last year claiming 25-30% lower energy use than conventional brushed motors currently dominating the market. Even simple redesigns of motor components like windings, laminations and bearings have yielded gains of 5-10% according to research published by the European Copper Institute.

Micro Motor Market Restraints:

• High Development Costs: The complex designing process and precision machining techniques involved in micro motor manufacturing lead to high costs, hampering adoption among price-sensitive industries and regions.
• Counterbalance: By increasing production volume, companies can reduce the cost per unit of heat meters. This can be achieved by expanding into new markets or increasing market share within existing markets, thus spreading the development costs over a larger number of units.
• Overheating Problems: The miniaturized size of micro motors often leads to overheating and performance issues. Mitigating these drawbacks poses a key challenge for manufacturers.
• Counterbalance: Developing heat meters with more robust designs that can withstand higher temperatures without malfunctioning can help alleviate overheating issues. This might involve using materials with higher heat resistance or incorporating thermal management systems within the device design.

Recent Developments

New product launches

• In January 2022, Portescap launched the 22ECP planar brushless slotless DC micromotor providing high power density and efficiency for medical devices. It offers 50% more torque than previous models.
• In June 2021, Maxon Motor introduced the EC-i 30 BL brushless DC motor with an integrated speed and position controller. It eliminates the need for external electronics.
• In May 2022, Faulhaber launched the most powerful micro drive system for surgical power tools delivering 2.1 Nm of torque. It ensures high performance drilling in bones.

Acquisition and partnerships

• In June 2022, Allied Motion Technologies acquired ThinGap Motor Technologies, a manufacturer of ultra-thin motors. This strengthened Allied's precision micro motor capabilities.
• In April 2022, Portescap partnered with Spinicity to utilize advanced micro motor technologies in Spinicity’s rehabilitation products for stroke patients.

Figure 2. Global Micro Motor Market Share (%), By Type, 2023

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Top companies in Micro Motor Market

• Nidec Corporation
• Bosch
• Mabuchi Motor Co Ltd
• Abb Ltd
• Siemens Ag
• Denso Corporation
• Maxon Motor Ag
• Mitsuba Corporation
• Johnson Electric Holdings Limited
• Brose Fahrzeugteile Gmbh & Co. Kg
• Portescap
• Allied Motion Technologies Inc.
• Arc Systems Inc.
• Constar Micromotor Co., Ltd.
• Bühler Motor GmbH
• Fritz Faulhaber GmbH & Co. KG
• Ebmpapst
• Faulhaber Group
• Chinabase Machinery (Hangzhou) Co., Ltd
• Mini Motor

Definition: The Micro Motor Market refers to the market for motors and motion devices that are extremely compact in size, typically ranging from 0.3 mm to 25 mm in diameter. Micro motors utilize electromagnetic energy and convert electrical energy into mechanical motion.

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