Brushless DC Motor Market: Increasing Investments in Research Drives Market 2019 to 2029
Soaring demand for enhanced automotive components such as motorized seats continues to drive brushless DC motors market. Moreover, stringent carbon emission regulations are fueling the demand for brushless DC motors in view of their superior energy efficiency features, delivering enhanced productivity, in addition to allowing for electrical savings. A recently published Fact.MR report concludes that the global market revenues will grow double between 2019 and 2029.
Greater uptake of brushless DC motors by end-use industries such as aerospace & transportation, and home appliances is fuelling market growth. This decade will observe noteworthy sales of electric vehicles which is a major factor driving the sales of brushless DC motors. Further, favourable attributes such as greater resistance towards extreme temperatures, and low maintenance requirements are being preferred by consumers across the globe. Hence, the market will expand at an impressive CAGR of approximately 6% over the projection period (2019-2029).
“The ability of brushless DC motors to minimize complex electrical connections, weight and overall size of automotive components will bode well for market growth,” reports Fact.MR in this new study.
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Key Takeaways of the Brushless DC Motor Market Study
- Nearly half the sales of brushless DC motors highlight preference for power of up to 0-750 watts. Demand remains concentrated in compressors, pumps, and fans.
- Motor vehicles continue to generate prolific demand for brushless DC motors, particularly in developing countries.
- Invigorated by surging industrial production, the regional brushless DC motor market in East Asia will capture over 50% revenue share in the overall market stack.
- Enormous growth in power demand across South Asian countries and Oceania will offer profitable opportunities for manufacturers during the forecast period.
Key Drivers: Brushless DC Motor Market
- Greater emphasis on fuel-efficient alternatives and supportive government policies will favour the growth of brushless DC motors market through 2029.
- Reduced wear and tear and friction associated with the use of brushless DC motors is complementing the market growth.
- Heightening demand for brushless DC motors in industrial production will contribute substantially to revenue pool on account of greater operating speed, cost savings, and quick response time.
- Proliferation of HVAC systems is a major growth lever of brushless DC motor market.
- Technological advancements such as reduced torque ripple, direct torque control, and artificial neural networks will push the demand further, specifically in low speed applications.
Key Impediments to Growth: Brushless DC Motor Market
- Relatively high price point of brushless DC motors is retraining the market growth.
- Complex manufacturing process will impede the growth of emerging players in the market.
Anticipated Impact of COVID-19 on Brushless DC Motor Market
Automotive industry, which remains the prominent end-use area of brushless DC motors, is one of the most severely affected industries by the COVID-19 pandemic. International and domestic travel restrictions have caused the dip in oil prices to below zero first time in history. The reverberations of automotive industry can be felt across various sectors including the brushless DC motor market. Companies continue to devise strategies to tackle the massive challenges imposed by COVID-19 outbreak. This trend is projected to continue as lockdown restrictions remain in place across the globe.
Explore 96 tables and 191 figures of the study. Request ToC of the report at- https://www.factmr.com/connectus/sample?flag=RM&rep_id=4679
Competition Landscape of Brushless DC Motor Market
Some of the leading companies profiled in this Fact.MR report include, but are not limited to, Schneider Electric, Baldor Electric Company Inc., Ametek Inc., Johnson Electric, TECO Electric & Machinery Co., Ltd., Allied Motion Technologies, Regal Beloit Corporation, Nidec Motor Corporation, ABB Ltd., North American Electric, Inc., and Siemens. Emerging economies remain the crucial targets of major players in the brushless DC motor market. Growing power generation needs in South Asia & Oceania will offer lucrative growth prospects for market leaders over the forecast period. Reducing the size and weight of brushless DC motors is the key research area of globally leading producers.
About the Report
This 170-page study offers in-depth commentary on the brushless DC motor market. The study provides compelling insights on the brushless DC motor market on the basis of power (0-750 watts, 750 watts to 3 kW, 3 kW to 75 kW, above 75 kW), end use (industrial machinery, motor vehicles, HVAC equipment, aerospace & transportation, household appliances) across six regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, Middle East & Africa).