Global Small Motors Market Overview
As per MRFR analysis, the Small Motors Market Size was estimated at 14.75 (USD Billion) in 2022.The Small Motors Market Industry is expected to grow from 15.3(USD Billion) in 2023 to 21.32 (USD Billion) by 2032. The Small Motors Market CAGR (growth rate) is expected to be around 3.76% during the forecast period (2024 - 2032).
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Small Motors Market Trends Highlighted
Small Motors Market has witnessed significant technological improvements, driven by the increasing need for energy-saving and compact motors. These have become increasingly popular in a range of sectors, such as motor vehicles, industrial automation, and consumer appliances.
These include the increasing adoption of electric vehicles, growing automation in production processes and increased demand for portable and compact electronic devices, among others. Hence, small motors are expected to experience strong growth over the coming years.
Additionally, a number of new developments are taking place, including sensorization and the integration of electronics into small motors. Consequently, smart motors that can monitor their performance on a real-time basis are now being made because of this convergence of technologies. Furthermore, wireless connectivity is becoming more prevalent in today’s world, making it possible to integrate tiny engines into IoT environments that enable remote monitoring and control.
All these market drivers plus trends create opportunities for innovators who can develop advanced small engines that would be suitable for various industries. Small Motors Companies who navigate through these trends successfully will benefit significantly from this market shift.
Small Motors Market Drivers
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Rising Demand for Energy-Efficient Appliances
The growing demand for energy-efficient appliances is a major factor driving the growth of the Global Small Motors Market Industry. Consumers are becoming increasingly aware of the environmental impact of their energy consumption and are seeking out appliances that consume less energy.
Small motors are used in a wide range of appliances, including refrigerators, air conditioners, washing machines, and dryers. As the demand for energy-efficient appliances continues to grow, the demand for small motors is expected to increase as well. The rising demand for energy-efficient appliances is expected to continue to be a major driver of growth for the Global Small Motors Market Industry in the coming years.
Increasing Adoption of Industrial Automation
The increasing adoption of industrial automation is another factor driving the growth of the Global Small Motors Market Industry. Industrial automation refers to the use of automated systems to perform tasks that were previously performed by human workers. Small motors are used in a variety of industrial automation applications, including robotics, assembly lines, and conveyor systems.
As the adoption of industrial automation continues to increase, the demand for small motors is expected to increase as well. The increasing adoption of industrial automation is expected to continue to be a major driver of growth for the Global Small Motors Market Industry in the coming years.
Growth in the Automotive Industry
The growth in the automotive industry is also contributing to the growth of the Global Small Motors Market Industry. Small motors are used in a variety of automotive applications, including power windows, power seats, and anti-lock brake systems. As the automotive industry continues to grow, the demand for small motors is expected to increase as well. The growth in the automotive industry is expected to continue to be a major driver of growth for the Global Small Motors Market Industry in the coming years.
Small Motors Market Segment Insights
Small Motors Market Type Insights
The Global Small Motors Market is segmented by Type into Electric Motors, Pneumatic Motors, Hydraulic Motors, and Combustion Engines. The Electric Motors segment is expected to hold the largest market share in 2023, accounting for approximately 55.3% of the global market. The growth of this segment can be attributed to the increasing adoption of electric vehicles and the rising demand for energy-efficient motors in various industries. The Pneumatic Motors segment is expected to witness a significant growth rate during the forecast period, owing to their wide application in industrial automation and robotics.
The Hydraulic Motors segment is also expected to grow steadily, driven by the increasing demand for hydraulic systems in construction and mining equipment. The Combustion Engines segment is expected to account for a smaller share of the market, but it is still expected to grow at a moderate pace, primarily due to their use in power generation and marine applications. The Global Small Motors Market is expected to reach a valuation of USD 16.2 billion by 2024, exhibiting a CAGR of 3.9% during the forecast period.
The growth of the market can be attributed to the increasing demand for small motors in various industries, such as automotive, industrial automation, and consumer electronics. The rising adoption of electric vehicles and the growing awareness of energy efficiency are also contributing to the market growth. Key insights from the Type segment analysis of the Global Small Motors Market: Electric Motors are widely used in electric vehicles, industrial automation, and consumer electronics.
Pneumatic Motors are primarily used in industrial automation and robotics. Hydraulic Motors are commonly used in construction and mining equipment. Combustion Engines are mainly used in power generation and marine applications. The Electric Motors segment is expected to continue to dominate the market in the coming years, driven by the increasing adoption of electric vehicles and the rising demand for energy-efficient motors.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Small Motors Market Product Power Output Insights
The product power output segment plays a crucial role in shaping the Global Small Motors Market revenue. In 2023, the '500 W' power output segment held the largest share of the market, accounting for approximately 45%. This dominance is attributed to the widespread use of small motors in consumer appliances, power tools, and other low-power applications.
As per Global Small Motors Market data, the '500-2,000 W' segment is projected to exhibit significant market growth over the forecast period, driven by rising demand from industrial and commercial sectors. The '2,000-5,000 W' and '>5,000 W' segments, though relatively smaller in terms of market share, are expected to gain traction in specialized applications such as heavy machinery, robotics, and electric vehicles. These insights are crucial for stakeholders to understand the evolving dynamics of the Global Small Motors Market segmentation and make informed decisions.
Small Motors Market Design Insights
The design segment of the Global Small Motors Market is categorized into AC Motors, DC Motors, Brushless Motors, and Stepper Motors. AC Motors currently dominate the market, accounting for over 55% of the revenue in 2023. DC Motors follow closely, with a market share of approximately 30%. Brushless Motors and Stepper Motors hold smaller market shares but are projected to experience significant growth in the coming years due to their high efficiency and reliability.
Small Motors Market Application Insights
The Global Small Motors Market is segmented into Industrial Automation, Household Appliances, Power Tools, and Medical Devices. In 2023, the Industrial Automation segment held the largest market share of 35.7%, and is projected to reach a valuation of USD 7.64 billion by 2032, exhibiting a CAGR of 3.9%.
The Household Appliances segment is expected to grow at a CAGR of 3.2% during the forecast period, reaching a valuation of USD 6.12 billion by 2032. The Power Tools segment is projected to reach USD 4.23 billion by 2032, growing at a CAGR of 3.5%. The Medical Devices segment is anticipated to grow at a CAGR of 3.8%, reaching a valuation of USD 3.33 billion by 2032.
Small Motors Market End-User Insights
The Global Small Motors Market segmentation by End-User can be divided into OEMs, Maintenance and Repair, and Industrial End-Users. The OEMs segment accounted for the largest share of the Global Small Motors Market revenue in 2023 and is projected to continue to dominate the market through 2032. This is due to the increasing demand for small motors in various industries, such as automotive, industrial automation, and consumer appliances.
The Maintenance and Repair segment is expected to witness a significant growth rate over the forecast period, owing to the rising need for maintenance and repair of small motors in various industrial and commercial applications. The Industrial End-Users segment is anticipated to account for a substantial share of the Global Small Motors Market revenue by 2032, driven by the growing adoption of small motors in industrial machinery and equipment.
Small Motors Market Regional Insights
The Global Small Motors Market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. Among these regions, North America is expected to account for a significant share of the market in 2023, owing to the increasing demand from the industrial and automotive sectors. The Asia-Pacific region is projected to witness the highest growth rate during the forecast period, due to the rising demand from emerging economies such as China and India.
Europe is expected to hold a considerable share of the market, driven by the strong presence of automotive and industrial sectors in the region. South America and the Middle East and Africa are expected to account for a smaller share of the market but are projected to exhibit steady growth in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Small Motors Market Key Players And Competitive Insights:
Major players in the Small Motors Market industry are focused on developing and providing innovative and technologically advanced products to meet the changing demands of the market. Leading Small Motors Market players are investing in research and development to enhance the performance and efficiency of their products. The Small Motors Market competitive landscape is characterized by the presence of both global and regional players. The market is fragmented, with a large number of small and medium-sized enterprises operating in the market.
A prominent player in the Global Small Motors Market, Nidec Corporation offers a wide range of small motors for various applications. The company focuses on research and development to create innovative products and enhance the efficiency of its existing offerings to maintain its leading position in the market. Nidec Corporation has a global presence and caters to customers in diverse industries, including automotive, industrial, and home appliances. The company's commitment to quality and customer satisfaction has contributed to its strong brand reputation and market share.
Another key player in the Small Motors Market is Ametek, Inc., which provides a comprehensive portfolio of small motors for industrial and commercial applications. The company focuses on providing customized solutions to meet specific customer requirements. Ametek, Inc. emphasizes the development of energy-efficient and reliable motors to cater to the growing demand for sustainable products. The company's expertise in motor design and manufacturing has enabled it to gain a significant market share and establish a strong competitive position.
Key Companies in the Small Motors Market Include:
- Maxon Motor
- Mitsuba Corporation
- WEG Electric
- Oriental Motor
- Johnson Electric Holdings
- Franklin Electric
- Siemens
- TECO Electric Machinery
- Ametek
- Baldor Electric Company
- Brook Crompton
- Mabuchi Motor
- Regal Beloit
- Nidec Corporation
- Emerson Electric
Small Motors Market Industry Developments
The global small motors market is projected to grow from an estimated USD 15.3 billion in 2023 to USD 21.32 billion by 2032, exhibiting a CAGR of 3.76% during the forecast period. The increasing demand for energy-efficient appliances and the growing adoption of automation in various industries are the key factors driving the growth of this market.
Recent developments in the small motors market include the launch of new products with improved efficiency and durability, as well as the development of innovative technologies such as brushless DC motors and electronically commutated motors. These advancements are expected to further drive the growth of the market in the coming years.
Small Motors Market Segmentation Insights
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Small Motors Market Type Outlook
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Small Motors Market Product Power Output Outlook
- 500 W
- 500-2,000 W
- 2,000-5,000 W
- >5,000 W
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Small Motors Market Design Outlook
- AC Motors
- DC Motors
- Brushless Motors
- Stepper Motors
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Small Motors Market Application Outlook
- Industrial Automation
- Household Appliances
- Power Tools
- Medical Devices
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Small Motors Market End-User Outlook
- OEMs
- Maintenance and Repair
- Industrial End-Users
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Small Motors Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
14.75(USD Billion) |
| Market Size 2023 |
15.3(USD Billion) |
| Market Size 2032 |
21.32(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.76% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Maxon Motor, Mitsuba Corporation, WEG Electric, Oriental Motor, Johnson Electric Holdings, Franklin Electric, Siemens, TECO Electric Machinery, Ametek, Baldor Electric Company, Brook Crompton, Mabuchi Motor, Regal Beloit, Nidec Corporation, Emerson Electric |
| Segments Covered |
Type, Product Power Output, Design, Application, End-User, Regional |
| Key Market Opportunities |
Industrial Automation growing demand in manufacturing sector HVAC Systems increasing adoption of energyefficient appliances Electric Vehicles rising production and market penetration Medical Devices growing demand for minimally invasive surgeries Consumer Electronics expanding range of smart home devices |
| Key Market Dynamics |
Increasing automation in industrial processes Growing demand for energyefficient appliances Rapid urbanization and infrastructure development Rising adoption of electric vehicles Advancements in motor technology |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The global small motors market was valued at 15.3 billion USD in 2023 and is projected to reach 21.32 billion USD by 2032, exhibiting a CAGR of 3.76% during the forecast period.
Asia-Pacific is expected to dominate the global small motors market, holding a significant market share due to the presence of a large manufacturing base, particularly in China and India.
Small motors find extensive applications in various industries, including industrial machinery, household appliances, power tools, automotive, and HVAC systems.
Some of the key players in the global small motors market include Nidec Corporation, Regal Beloit Corporation, Johnson Electric, Siemens AG, and Ametek Inc.
The global small motors market is projected to grow at a CAGR of 3.76% from 2024 to 2032.
Factors driving the growth of the small motors market include rising demand for energy-efficient motors, increasing automation in industries, and growing urbanization.
Challenges faced by the small motors market include intense competition, fluctuating raw material prices, and stringent government regulations.
Key trends in the small motors market include the adoption of smart motors, integration of sensors and connectivity, and increasing demand for customized motors.
The COVID-19 pandemic had a negative impact on the small motors market due to disruptions in supply chains and reduced demand from various industries.
The future prospects of the small motors market are positive due to increasing demand from emerging economies, technological advancements, and growing awareness of energy efficiency.
