The global brushless DC motor market is projected to have a compound annual growth rate of 9.17%, from US$22.859 billion in 2019 to US$42.249 billion in 2026. The main features of the brushless DC motors that make them so demanding in the market are that it reduces the energy consumption and hence, improves the efficiency in operations. This further boosts the demand for brushless DC motors in the market. The market of brushless DC motors is expected to drive by government policies for environment-friendly vehicles, increasing demand from the automotive industry, and improving energy efficiency. In the automobile industry, the increasing demand for the facilities such as wipers, mirrors, doors, and so on, is boosting the demand and growth of the brushless DC motor market. The growth of the market can be restrained by the relatively higher cost of the brushless DC motor as compared to the conventional DC motors with a brush. Though, the companies are working on the improvements, and have overcome this issue of cost along with the better performance abilities. In the electronic vehicles and hybrid vehicles market, the brushless DC motors have the significant potential to grow in the upcoming period, because of the features of brushless DC and the increasing demand for electronic vehicles. The various applications of the brushless DC motor are another factor that is boosting the growth and demand of this market such as higher efficiency, low maintenance cost, lower rotor heat, and so on.
By type, the brushless DC motor market is segmented into the inner rotor and outer rotor. Inner rotors is having a significant market share and having a significant growth rate in the market. The growth of this segment is driven by the growth of the increasing developments of the industrial robots which are increasing the demand for the automation advances by the people, and ultimately boosting the demand for the inner rotor market segment. Among them, above 10000 RPM is expected to have a significant growth rate in the market, along with a substantial market share. By end-users, the market is segmented into household, automotive, manufacturing, medical devices, aerospace & transportation, and others. The medical devices are projected to have the highest potential to grow in the forecast period. The growth of this segment is driven by the pandemic effects, which lead to an increase in demand for medical services as people have become more health-conscious. Although, the automotive segment is holding up the highest share of the market, and also shows a potential to grow because of the increasing demand for electronic vehicles.
By region, the brushless DC motor market is segmented into North America, South America, Europe, Asia Pacific, and the Middle East, and Africa, where the Asia Pacific is projected to have positive potential growth in the upcoming period while holding the largest market share in the market, mainly due to industrialization and urbanization in this region. Followed by North America and Europe are having the potential growth in their regions in the future due to the increasing demand for motorized vehicles in this region. In other regions, the demand for the brushless DC motor will be driven by the increasing demand for environmentally friendly vehicles, and government initiatives to boost the sale of these vehicles.
The pandemic covid-19 has adversely impacted the brushless DC motor market, as it hampered both the production and the consumer markets, wherein production market, the manufacturing has been hampered due to the lockdowns, and In consumption market, the manufacturing industries’ demand has reduced. Although, this pandemic has increased the demand for medical devices creating a potential market for the medical devices. The pandemic has affected the investments in brushless DC motor negatively as the growth of this market got impacted.
In 2019, Nidec has acquired Omron Automotive Electronics to strengthen itself in the automotive sector. Toshiba has introduced various brushless DC motor products for different industries, that are automotive, air-conditioners, fans, industrial applications, and so on. Several new engineering projects based on the brushless DC motor are coming up mainly focusing on drones and industrial robots. This creates an opportunity for the firms to come up with new innovations as this segment has the potential to grow in the upcoming time.
APAC to witness lucrative growth.
Asia Pacific is expected to have the highest growth in the brushless DC motor market in the forecast period. The growth of the market in this region is driven by industrialization, urbanization, and increasing government support for energy efficiency by the use of renewable sources, and environment-friendly vehicles. In the region, the significant potential to grow is expected in India, China, and Indonesia.
Frequently Asked Questions (FAQs)
Q1. What will be the brushless DC motor market size by 2026?
A1. The global brushless DC motor market is projected to reach a total market size of US$42.249 billion in 2026.
Q2. What are the growth prospects for the brushless DC motor market?
A2. The brushless DC motor market is projected to grow at a CAGR of 9.17% during the forecast period.
Q3. What is the size of the global brushless DC motor market?
A3. Brushless DC Motor market was valued at US$22.859 billion in 2019.
Q4. Which region holds the largest market share in the brushless DC motor market?
A4. Asia Pacific is expected to have the highest growth in the brushless DC motor market in the forecast period.
Q5. What factors are anticipated to drive the brushless DC motor market growth?
A5. The market of brushless DC motors is expected to drive by government policies for environment-friendly vehicles, increasing demand from the automotive industry, and improving energy efficiency.