BO Motor: Introduction
- BO motors are used majorly in robotic applications. It converts electrical energy into mechanical energy. BO motor gear decreases the speed of the rotation and alongside, it increase its torque.
Key Drivers of the Global BO Motor Market
- Modern devices are technologically advanced which require different types of BO motors. Technological advancement in the HVAC industry is taking place at a fast pace. Growing requirement for HVAC products is likely to create new avenues for the BO motor market.
- According to a “Bureau of Labor and Statistics” report, more than 8.3 million combined units of HVAC equipment were shipped across the globe in 2018. Employment generation from heating, air conditioning, and refrigeration mechanics industry is also growing significantly. Employment in this segment is expected to grow 15% from 2016 to 2026, which will impact the sale of BO motors.
Untapped Markets to Create New Market Opportunities
- Manufacturing activity is witnessing growth revival in developing economies such as Brazil, China, India, South Africa, and Turkey, where motor manufacturers may not have presence. This can be viewed as a potential growth opportunity to introduce BO products in those markets and this factor is expected to have high impact during the forecast period.
- Manufacturers prefer to use equipment which would optimize the use of resources. Automated equipment helps achieve this objective. BO motors are preffered in automated equipment, which is expected to boost their sales in the coming years.
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Trade Barriers in Many Countries to Restrict Market Growth
- Different small-scale manufacturers are facing raw material purchase issues as a result of trade barriers in various geographical regions. Strict government regulations and volatile trade policies in different countries are also expected to restrict the market growth.
Asia Pacific the Dominant Market for BO Motors
- Increasing number of electrical motor manufacturing companies coupled with high foreign investment in automotive and HVAC segments in the Asia Pacific region is one of the key reasons for BO motor demand in this region. China and India are key markets. Furthermore, Japan and South Korea also account for significant share of the BO motor market in Asia Pacific.
- Key BO motor manufacturers are operating their business from Asia Pacific and North America. However, these players have a global reach through their own sales channels or distributors. North America and Europe also have significant share in the BO motor market.
- Industrial growth in Brazil is driving the demand for BO motors in South America. Increasing foreign direct investment in developing countries including Brazil, Argentina, Chile, Peru, and Colombia is driving growth of the South America BO motor market.
Key Players Operating in the Global BO Motor Market
Key companies are adopting the merger and acquisition strategy to improve their market revenue at the global level. Small scale players are trying to increase their sales by improving their domestic market share. Some of the key players operating in the global BO motor market are listed below:
- Allied Motion Technologies Inc.
- Ametek Inc.
- Asmo Co. Ltd.
- Baldor Electric Company Inc.
- Franklin Electric Co. Inc.
- Johnson Electric
- Nidec Corporation
- Regal Beloit Corporation
- Rockwell Automation Inc.
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Global BO Motor Market: Research Scope
Global BO Motor Market, by Product Type
- Brushed Motor
- Brushless Motor
Global BO Motor Market, by Capacity
- Below 750 Watts
- 750 Watts - 3 kW
- 3 kW - 75 kW
- Above 75 kW
Global BO Motor Market, by Application
- Industrial Machinery
- Motor Vehicles
- HVAC Equipment
- Aerospace & Transportation
- Household Appliances
- Others (Healthcare, Defence, etc.)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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