According to a recent research report released by Transparency Market Research, the global precision electric motors market is expected to be worth US$52.22 billion by 2024. The report, titled “Precision Electric Motors (Brushless) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2024” estimates the overall market to witness a positive growth at a CAGR of 12.7% during the period between 2014 and 2024. In 2013, the precision electric motors market was valued at US$22.69 billion.
Major Key Players of the Precision Electric Motors Market are:
Yaskawa Electric Corporation, Baldor Electric Company, Regal Beloit Corp., Nidec Corporation, and Omron Corporation.
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The report points out that the increasing demand for high performance motors has led to the growth of the global precision electric motors market. Precision electric motors are energy efficient with reduced noise and increased shelf life. The growing demand for precision electric motors owing to the increased production of motor vehicles, defense and aerospace equipment, home appliances, and other electric motor driven systems will propel the global precision electric motors market. However, the report cites that the higher cost of the precision electric motors will restrain the market growth in the near future. Increasing demand for industrial robots and the use of precision electric motors in medical diagnostic applications will open new opportunities for the overall market in the coming years.
On the basis of motor type, the report segments the global precision electric motors into DC brushless motors and AC brushless motors. In 2014, DC brushless motors accounted for US$21.29 billion and dominated the market. The demand for DC brushless motors is expected to be the highest during the forecast period due to their extensive usage in chassis and powertrain applications in cars manufactured across the globe. The increased demand for DC brushless motors can also be attributed to the fact that they are controlled through simple switching commutation logic. The AC brushless motors, on the other hand need complex algorithms.
The research study has been segmented as below:
Precision Electric Motors (Brushless) Market: by Type
- AC brushless motors
- DC brushless motors
Precision Electric Motors (Brushless) Market: by Application
- Automotive
- Industrial machinery
- Household appliances
- Defense and aerospace
- Household applicance
- Others
Research objectives:-
– To study and analyze the global Precision Electric Motors consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Precision Electric Motors market by identifying its various sub-segments.
– Focuses on the key global Precision Electric Motors manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Precision Electric Motors with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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