NEW YORK, March 12, 2021 /PRNewswire/ -- Global sales of frameless brushless DC motors are set to be valued at US$ 11.73 Bn in 2021, with stable long-term projections, according to latest insights from Persistence Market Research. The report estimates the market to expand at over 4% CAGR through 2031. Demand is especially high for use in industrial drives and the automotive industry, with the inner core motor winding type accounting for around two-third of overall sales. South Asia & Pacific leads the global frameless brushless DC motor market, followed by North America and Europe.
Sales growth for frameless brushless DC motors waned in 2020, owing to COVID-19 economic impact, wherein, related verticals and supply chain mechanisms got disrupted, resulting in end-user demand slowdown. The anticipated degree of market growth remains to be optimistic with the resumption of production activities in several end-use industries in the last 2 financial quarters. As such, 2021 will witness close to normal market growth.
Key Takeaways from Study
- The electronics equipment industry has witnessed substantial growth in recent years, which is expected to persist going ahead. Positive global electronic spending will lead to increased demand for frameless brushless DC motors.
- The consumer electronics and DIY tools market is projected to register steady growth due to high rate of increasing population and urbanization in emerging countries from Asia Pacific, such as China, India, Indonesia, etc. Rapid growth in electronics production and wide use of DC motors in power tools, computers, refrigerators, etc., is boosting market growth.
- The medical devices segment is expected to lead in terms of both, market share and growth rate during the forecast period. The segment is expected to hold nearly one-third of the market value share throughout the forecast period, attributing to high usage of these motors for precision work purposes.
- Inner core winding motors will hold around two-third overall market share, with high usage in industrial drives and the automotive industry.
- The market in the U.S. is projected to expand at a CAGR of over 4% through 2031, while that in the U.K., China, and India at around 5%.
- Due to the COVID-19 pandemic, the market witnessed a disastrous growth rate of -10.9% in 2020. However, the growth rate is pegged at over 3% for 2021.
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"Upsurge in demand for compact motors is expected to provide an impetus to frameless brushless DC motors sales. Substantial increase in penetration of frameless BLDCs in autonomous and electric vehicles, industrial drives, and consumer goods and appliances, in countries across the globe, is propelling market growth," says a Persistence Market Research analyst.
Competitive Landscape
The market is identified to be moderately consolidated, with key players accounting for more than half of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares. Some of the key players in the market are Woodward Inc, Moog Inc, Allied Motion Technologies, Sensata Technologies, Parker Hannifin Corp, Arc Systems, Mclennan Servo Supplies Limited, H2W Technologies, Aerotech Inc, and others.
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Market Projections
The frameless brushless DC motor market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate on research & development activities to develop electric motors that meet the personalized requirements of consumers.
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Want to Know More?
Persistence Market Research has published a market research report on the global frameless brushless DC motor market that contains global industry analysis of 2016–2020 and opportunity assessment for 2021–2031. The report provides in-depth analysis of the market through different segments, namely, motor winding, end use, application, and region. The report also provides supply and demand trends, along with an overview of the parent market.
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