Engineers who are concerned with the design of various devices in all the industries are facing the ever increasing challenge of making the products with maximum efficiency while reducing the size of such devices to the minimum. Typically, design engineers are looking for deriving more power from a smaller device, which has a greater efficiency and also possesses a longer life. This is done in order to reduce the consumption of power and encourage simple usability in the case of handheld devices. This is where the use of small motors comes into the picture. In the present times, small motors find a variety of applications such as in surgical power tools, in medical devices, infusion systems, industrial power tools, clinical diagnostics, aerospace, and in the field of automation and robotics.
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As per the forecast of Fact.MR, the global 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.
4 Forecast Highlights on Global Small Motors Market
- As per the forecast of Fact.MR, the DC brush motors (cored) segment is slated to touch a value of nearly US$ 2,560 Mn in the year 2022. This represents a negative CAGR growth during the assessment period of 2017-2026. The DC brush motors (cored) segment is estimated to account for nearly one-third of the revenue share of the product type segment by the year 2017 end and is expected to lose in market share by the year 2026 end.
- As per the forecast of Fact.MR, AC small motors segment will reach a value of nearly US$ 2,920 Mn in the year 2026. This represents a sluggish CAGR growth during the forecast period. The AC small motors segment is estimated to account for more than one-fourth of the revenue share of the supply source segment in the year 2017 end and is expected to gain market share by the end of the year 2026.
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- As per the forecast of Fact.MR, the consumer electronics segment is slated to reach a value of nearly US$ 2,520 Mn in 2026. The consumer electronics segment is expected to lose some market value by the end of the year 2026. The largest share is contributed by the North America region in the consumer electronics segment.
- Fact.MR forecasts that the consumer appliances segment will exhibit a CAGR of 1.1% from 2017 to 2026. Consumer appliances segment is estimated to account for nearly one-fourth of the revenue share of the application segment by 2017 end and is expected to lose some market share by the end of the year 2026.
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The report has also profiled leading players in the global market for small motors, which will remain active through 2026. These include companies such as Mim Software, Inc., Xinapse Systems Ltd, AGFA Healthcare, INFINITT Healthcare Co, Ltd., Aquilab, Toshiba Medical Systems Corporation, Carestream Health, Inc., Siemens Healthineers, Merge Healthcare Incorporated, Esaote S.P.A, Sciencesoft USA Corporation, General Electric Company (GE), Mirada Medical Limited, Image Analysis and Koninklijke Philips N.V.