Precision Electric Motors (Brushless) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Albany, NY -- (SBWIRE) -- 05/03/2017 -- Transparency Market Research reveals that the global precision electric motors (brushless) market will expand at a 12.70% CAGR from 2014 to 2020. This market was valued at US$22.6 bn in 2013 and is expected to rise to US$52.2 bn by 2020.
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Precision electric motors exhibit favorable characteristics such as reduced energy costs, minimum noise, and greater shelf life. These high-performance motors also offer the benefits of requiring virtually no maintenance cost and easy installation. The replacement of outdated, low-efficiency electric motors is a key factor driving the global precision electric motors (brushless) market. On the flip side, higher initial cost and the deterioration of position control precision are likely to impede the development of the overall market.
On the basis of type, the precision electric motors (brushless) market is bifurcated into DC brushless motors and AC brushless motors. Valued at US$21.2 bn in 2014, the DC brushless motors segment dominated the overall market. The growing use of DC brushless motors in powertrain and chassis applications in cars is the main factor driving this segment. The growing demand for DC brushless motors can also be attributed to the fact that they can be controlled by way of simple switching commutation logic. AC brushless motors, on the other hand, require complex algorithms.
The precision electric motors (brushless) market is segmented on the basis of application into industrial machinery, defense and aerospace, automotive, household appliances, healthcare, and others. Accounting for a share of over 25% in 2013, industrial machinery dominated the precision electric motors (brushless) market in terms of revenue. Valued at US$6.7 bn in 2013, this segment is propelled by the rising number of manufacturing plants in developing countries such as Brazil, China, and Russia. The automotive sector is poised to be the fastest growing application segment by 2020, driven by the surging sales of electric and hybrid vehicles.
The global precision electric motors (brushless) market is geographically divided into Asia Pacific, Europe, North America, and Rest of the World. In 2014, Asia Pacific dominated the global market with a value of US$11.2 bn. Retaining its lead throughout the forecast period, this region is also projected to expand at the highest CAGR from 2014 to 2020. The precision electric motors (brushless) market in this region is driven by the rapid industrialization in countries such as Indonesia, Malaysia, China, and India, and the rise in disposable income. The precision electric motors (brushless) markets in Europe and North America are fueled by the introduction of government incentive programs to substitute outdated electric motors and the strict implementation of electricity consumption regulations.
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The research report profiles some of the leading companies actively participating in the global precision electric motors (brushless) market. These players are reviewed based on aspects such as company overview, financial standing, business strategies, and recent developments. Yaskawa Electric Corporation, Regal Beloit Corp., Omron Corporation, Baldor Electric Company, and Nidec Corporation are some of the prominent names in the precision electric motors (brushless) market.