Precision Electric Motors (Brushless) Market
Precision Electric Motors (Brushless) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Press Release :
Precision Electric Motors Market - Snapshot
An electric motor refers to an electrical machine, which is capable of extracting mechanical energy from electrical energy. The expansion of the global precision electric motors market is likely to be influenced by high accuracy and effectiveness of these motors. Several end use sectors are taking up these motors, thanks to the benefits offered by them. This factor is likely to bolster the growth of the global precision electric motors market in the forthcoming years.
Rise in the Production of Vehicles to Shoot up Demand in the Near Future
With the augmented demand for precise output, the demand for precision electric motors is likely to witness an upward swing in its demand. These motors come with improved speed control application, which is likely to propel growth of the global precision electric motors market over the projection years.
Some of the advantages of the precision electric motors are mentioned as below
- Augmented reliability
- More efficiency
- High torque to weight ratio
- Reduced electromagnetic interference
Precision electric motors are primarily utilized in the applications that require speed control. In addition, they are widely used in applications that require highly precise output. A rise in the demand for high performance motors together with the increasing production of vehicles is likely to bolster growth of the global precision electric motors market.
Global Precision Electric Motors Market – An Overview:
The global precision electric motors market is growing at a stellar pace. From 2014 to 2020, the compound annual growth rate or the CAGR is set to be a healthy 12.7% which will help the market worth reach USD 52.22 bn. by the year 2020. In the year 2013, USD 22.9 bn. was the market valuation.
As need for precise output is increasing, demand for brushless precision electric motors is seeing an upward curve. One reason that the market is at the precipice of growth is that it allows for better speed control application.
- There has been a notable increase in demand for motors that are high performance. Other factors that are leading to growth in the market include increase in production of vehicles globally. Positive manufacturing outlook is another factor that is contributing in a big way.
- Asia Pacific (APAC) region will grow at a swift pace over the forecast period owing to an increase in spending capacity in the region, a result of strong economic growth in the nations marking the regional landscape. Indonesia, China, and India will lead the growth in the stated region over the assessment period.
Global precision electric motors (brushless) market was valued at USD 25.45 billion in 2014, growing at a CAGR of 12.7% from 2014 to 2020. Precision electric motors (brushless) are basically the electric motors without any brushes to wear out. Precision electric motors are mainly used in speed control applications and are customized form of electric motors to offer precise output. Increasing demand for high performance motors, growing vehicle production globally and positive outlook of manufacturing industries are the major factors responsible for growth of global precision electric motors (brushless) market globally.
The global precision electric motors (brushless) market is segmented by region into North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). Asia-Pacific led the global precision electric motors (brushless) market in 2014 and also it is the fastest growing regional market. The region is also expected to maintain its dominance till 2020. Asia-Pacific has seen significant growth in precision electric motors (brushless) market due to the rise in disposable incomes and escalating industrialization in countries such as China, Indonesia, India and Malaysia among others. These are the prime factors driving the growth of precision electric motors (brushless) market in Asia Pacific. In addition, strict electricity consumption regulations and government incentive programs for the substitution of out-dated electric motors are expected to drive the growth for precision electric motors (brushless) market in North America and Europe in the coming years.
The electric motors market is segmented on the basis of types into AC brushless motors and DC brushless motors. DC brushless motors are holding the maximum market revenue share in 2014 and are expected to remain so during the forecast period, i.e., 2014 to 2020. DC brushless motors are optimally controlled with the help of simple switching commutation logic, whereas AC brushless motors are optimally controlled with complex algorithms that require mathematical capabilities. The increasing usage of DC brushless motors in chassis and powertrain applications in cars is spurring the demand for this segment.
The electric motors market is further segmented by application into automotive, industrial machinery, household appliances, defense and aerospace, healthcare and others. The global precision electric motors (brushless) market is majorly dominated by industrial machinery segment due to increasing number of manufacturing plants especially in emerging nations such as India, China, Brazil and Russia among others. Automotive is the fastest growing application segment in precision electric motors (brushless) market followed by defense and aerospace.
- AC brushless motors
- DC brushless motors
- Industrial machinery
- Household appliances
- Defense and aerospace
- North America
- Rest of the World