Small Motors Market: DC Power Supply Continues to Remain Preferred
Rockville, MD -- (SBWIRE) -- 05/17/2019 -- A latest report published by Fact.MR offers valuable information and key insights into the small motors market. The study offers analyses crucial factors impacting the performance of small motors market. All the microeconomic and macroeconomic aspects influencing the small motors market growth have been analyzed in the study. Primary as well as the secondary research methodologies have been leveraged to obtain significant insights into the global small motors market. Small Motors Market is slated to touch a value of nearly US$ 9,766 Mn in the year 2026 and exhibit a sluggish CAGR during the period of assessment.
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The vibration motors segment is vital and accounts for a large portion of the small motors market. The vibration motors segment comprises a third of the revenue share in the small motors market and should gain substantial BPS over the course of the forecast period. The vibration motors segment is expected to cross a value of US$ 3.4 billion in 2026. The vibration motors segment is followed by the DC brush motors (cored) segment in the small motors market. North America contributes roughly a third of the share in the DC brush motors (cored) market and companies are advised to focus their attention on this continent.
Growth Drivers of the Small Motors Market
Elimination of additional accessories that are used in conventional motors, is a key attribute of small motors that has been driving their sales in recent years. In addition, the upward trend of miniaturization in the electronics industry has been significantly complementing adoption of small motors.
Compliance of small motors with automation standards has meant that sales of these compact and effective power transmission equipment will witness promising demand in the near future.
Rising demand for small motors as compared to their conventional counterparts, on account of their high efficiency, longer life, and low replacement costs in the medical equipment is anticipated to influence growth of the small motors market.
The paradigm shift in consumer preference for compact devices has encouraged manufacturers to adopt small motors, which is estimated to influence the sales prospects of small motors.
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Consumer Appliances and Consumer Electronics to Hold Leading Shares in the Small Motors Market
According to the study, consumer electronics and consumer appliances segment collectively held over half share of the small motors market in 2017. Miniaturization has a significant influence on the demand & supply side trends of consumer appliances and consumer electronics, which in turn continues to impact growth of the small motors market.
Small Motors Market – Key Insights
The small motors market registered a CAGR of 1.2% during the period 2012 to 2016.
Sales of small motors close in on revenues worth US$ 8.8 Bn in 2018, and are expected to grow at a sluggish CAGR of just over 1.0% through 2026.
Small motor sales have been relatively larger in North America as compare to other regional markets, which can be attributed to rising requirement for strong communication infrastructures in the region.
DC power supply continues to remain preferred for small motors worldwide. Sales of small motors working on DC power supply are expected to bring in revenues over of US$ 6 Bn in2019.
Other players operating in the global small motors market comprise Xinapse Systems Ltd., Toshiba Medical Systems Corporation, Siemens Healthineers, Sciencesoft USA Corporation, Mirada Medical Limited, Mim Software, Merge Healthcare Incorporated, Koninklijke Philips N.V., INFINITT Healthcare Co., Image Analysis, General Electric Company, Esaote S.P.A, Carestream Health, Aquilab, and AGFA Healthcare.
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