The Global Brushless DC Motor Market size is expected to reach USD 23.52 billion by 2028, exhibiting a CAGR of 8.4 % during the forecast period. The increase in adoption of energy-efficient brushless DC motors across the world and transition of global automotive industry toward electric vehicles is anticipated to augment the global brushless DC motor market.
In the report titled “Brushless DC Motor Market By Type, By Speed, By End-User, and by Region - Global Market Assessment (2016 - 2021) & Forecast (2022 - 2028)”, Vantage Market Research states that the global Brushless DC Motor Market was USD 12.31 billion in 2020.
Increased Demand for HVAC Systems to Augment Brushless DC Motor Market
HVAC systems demand is primarily driven by the increasing use in buildings, homes, and even vehicles along with introduction of technologically advanced products. These products are energy-efficient and can also be remotely accessed. The use of technologies like smartphone applications lets the owners or the building managers to control the ventilation process from one control point. With the use of big data and analytic better measurements of building environments can be taken which will allow for more effective and efficient HVAC systems installations in the future. The increasing residential and non-residential constructions have significantly raised the HVAC equipment installation.
According to the US Census Bureau and the US Department of Housing and Urban Development the privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,650,000, which is 4 % above the revised September rate of 1,586,000. Owing to the rise in demand for HVAC systems by rising construction industry, the demand for brushless DC motor is also expected to increase in the estimated timeframe.
Transition of Global Automotive Industry toward Electric Vehicles to Support the Global Brushless DC Motor Market
The global electric vehicle industry has expanded significantly over the last few years owing to the underpinned supportive policies and increase in technology advances. According to IEA, the global sales of electric cars were estimated to reach 2.1 million in 2019 and it almost accounted for 2.6 % of global car sales. Furthermore, about 1 % of global car stock in 2019 registered a 40 % year-on-year increase. This is attributable to the increasing technological advancements and increase in environmental and sustainability policies by the government.
Electric vehicles are considered to be one of the important technological developments to reduce and control increasing air pollution in heavily populated areas. It is also measured as a promising choice to contribute towards greenhouse gas emissions reduction purposes. The other benefits of electric vehicle include better efficiency over the internal combustion engine vehicles, and zero tailpipe emissions.
Owing to these objectives most of the countries’ have implemented policies to support the development and deployment of electric powertrains for transportation sector. Till the date, 17 countries announced 100 % zero-emission vehicle targets or discontinue the production of internal combustion engine vehicles through 2050.
COVID-19 Impact Analysis
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the motor industry.
Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online.
The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
Advantages of this Research
- Evaluate market share for commercial Brushless DC Motor market opportunities, track market size, competitive drug sales, synthesis insights for commercial development and licensing.
- Develop tactics and strategies to take advantage of opportunities in the Brushless DC Motor market.
- Latest Trends and Market Events and analyze essential events in Brushless DC Motor market.
- Develop an in-depth knowledge of competition and analyze sales data to update your brand planning trackers.
- Answer vital business questions; supports decision making in R&D to long term marketing strategies.
- Develop economic models, forecast models, and healthcare frameworks.
Asia Pacific is predicted to be prominent region in the global Brushless DC Motor Market during the forecast period. This is owing to the increasing industrialization and urbanization along with surging need to save energy in economies like China and India. Furthermore, increasing focus on technologically-advanced industrial equipment and manufacturing processes has also led to the regional growth of the market.
North America and Europe are also likely to witness substantial growth in the Brushless DC Motor Market during the forecast period. This is attributable to the on-going investments for developing new and advanced manufacturing technologies and surging sales of vehicles and flourishing aerospace & defense industry in UK.
Additionally, the rising demand for medical equipment manufacturing and consumer electronic testing in the region is also expected to support the growth of the Brushless DC Motor Market in near future.
List of Prominent Players in the Brushless DC Motor Market
|1||Ametek||Pennsylvania, United States|
|2||Allied Motion||New York, United States|
|3||Nidec Corporation||Kyoto, Japan|
|4||Johnson Electric||New Territories, Hong Kong|
|6||Maxon Motor||Sachseln, Switzerland|
|7||Regal Beloit Corporation||Wisconsin, United States|
|8||Oriental Motor||Tokyo, Japan|
|9||Portescap||Pennsylvania, United States|
|10||ElectroCraft||New Hampshire, United States|
Recent Developments in the Industry
- June, 2019: Johnson Electric announced the launch of new BLDC motor solutions for ventilation applications. Comprised of two brushless motor platforms, E12 and E17, Johnson Electric’s BLDC motors deliver best-in-class ErP ratings while maintaining compliance with current and pending regulatory requirements. The highly efficient and robust designs drive continuous ventilation through powerful air extraction at a wide range of speeds at low to imperceptible sound levels.
- November, 2021: Maxon launched new frameless BLDC motor with matching encoder that really comes into its own in dynamic applications. At the same time, the drive specialist is presenting a new series of ECX flat motors for a wide range of robotics applications.
Click here to view the report.