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. 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.
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Vibration Motors Key in Small Motors Market
The vibration motors segment is vital and accounts for a large portion of the small motors market. The vibration motors segment comprises a third of the revenue share in the small motors market and should gain substantial BPS over the course of the forecast period. The vibration motors segment is expected to cross a value of US$ 3.4 billion in 2026. The vibration motors segment is followed by the DC brush motors (cored) segment in the small motors market. North America contributes roughly a third of the share in the DC brush motors (cored) market and companies are advised to focus their attention on this continent.
Minimal Opportunity in HB Stepper Motors and DC brush motors (coreless) Markets
The DC Brush Motors (coreless) segment of the small motors market is considerably smaller than all others and may not even exceed a value of US$ 50 million by the end of the eight-year study. Companies will have to devise customized strategies to attain a modicum of success in this niche segment of the small motors market. The HB Stepper motors segment is comparatively larger in comparison but is nonetheless predicted to record a sluggish CAGR of 2.7% for the forecast period. Along with North America, companies would do well to target either the Europe or APEJ HB stepper motor market as both have a similar market opportunity in the long run.
Consumer Appliances and Consumer Electronics Hold the Key in Small Motors Market
The consumer appliances and consumer electronics segment consist of more than half the share in the global small motors market in 2017. However, both segments are on track to lose BPS over the long term. The absolute dollar opportunity is greater in the consumer appliances segment as it is likely to be in the range of US$ 225 million. Miniaturization is a notable trend that has had an outsized impact on all industries, particularly consumer appliances and consumer electronics. North America on account of its affluent population, high disposable income, and robust communications infrastructure should hold maximum share in both segments of the small motors market.
Aerospace and Healthcare Segment Exhibit Strong Growth in Small Motors Market
The aerospace and healthcare segments have great potential in the small motors market with a massive gain in BPS projected in the former. The aerospace segment is estimated to cross a value of one billion dollars by the end of the forecast period.
Competition Dashboard in the Small Motors Market
A few of the companies actively involved in the small motors market have been profiled in the report. The companies include AGFA Healthcare, Aquilab, Carestream Health, Esaote S.P.A, General Electric Company, Image Analysis, INFINITT Healthcare Co, Koninklijke Philips N.V., Merge Healthcare Incorporated, Mim Software, Mirada Medical Limited, Sciencesoft USA Corporation, Siemens Healthineers, Toshiba Medical Systems Corporation, and Xinapse Systems Ltd.
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