Brushless DC Motor Market: A Strong Growth Outlook from 2023 to 2035
Research Nester assesses the growth and market size of global brushless DC motor market which is anticipated to be on account of the growing automation and growing need for consumer electronics.
Research Nester’s recent market research analysis on “Brushless DC Motor Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global brushless DC motor market in terms of market segmentation by type, product output, end user, and by region.
Growing Need for Electric Vehicles to Promote Global Market Share of Brushless DC Motor
The global brushless DC motor market is estimated to grow majorly on account of the increasing demand for electric vehicles around the world. For instance, brushless DC motors are used in the propulsion system of electric cars therefore, their popularity is raising the demand for these motors. Further, the global shift towards renewable energy sources and the desire for greener transportation is also driving the adoption of electric vehicles, resulting in the growing demand for brushless DC motors. Sales of electric vehicles (EVs) are predicted to reach over 60 million units yearly by 2050, with a global EV stock of over 650 million.
The global brushless DC motor market is estimated to grow majorly on account of growing urbanization. As cities become more crowded people have started looking for more effective and environmentally friendly solutions, thus increasing urbanization around the world is boosting the demand for brushless DC motors. By 2045, more than 5 billion more people will live in metropolitan areas worldwide.
Some of the major growth factors and challenges that are associated with the growth of the global brushless DC motor market are:
Growth Drivers:
- Rising Aerospace Sector
- Growing Technological Advancements
Challenges:
The high cost of brushless DC motors and the presence of inexpensive motors are some of the major factors anticipated to hamper the global market size of brushless DC motors. One of the key elements projected to impede the market’s growth is the high price of brushless DC motors. For instance, specialized electronic control systems with sensors, controllers, and power electronics are required for brushless DC motors to operate properly. The price of these components might raise the motor’s overall cost.
By end user, the global brushless DC motor market is segmented into industrial machinery, motor vehicles, HVAC equipment, aerospace & transportation, and household appliances. The motor vehicles segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The reason behind the growth of the segment can be attributed to the rising need for vehicles around the world. Owing to their high efficiency, low maintenance requirements, and lengthy lifespan, brushless DC motors are expected to become more popular as worldwide auto sales increase. For instance, as long as the automotive sector keeps inventing and adopting new technologies, the demand for brushless DC motors is certain to increase. Furthermore, these motors are also used in HVAC (heating, ventilation, and air conditioning) systems for automobiles. As an alternative, brushless DC motors are an attractive choice since these applications necessitate motors that are efficient, quiet, and able to operate at different speeds. Around 66 million vehicles were sold globally in 2021, and more than 67 million vehicles were sold globally in 2022.
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By region, the Asia Pacific brushless DC motor market is to generate the highest revenue by the end of 2035. This growth is anticipated by growing industrialization. The region’s surging industrialization has boosted the demand for high-performance motors in several industries, including the auto, medical, aerospace, and other sectors. For instance, in industrial applications, brushless DC motors are a preferable option since they outweigh conventional motors in terms of efficiency, unnecessary maintenance, and lifespan. Additionally, it is projected that the region’s rising demand for electric vehicles (EVs) and the favorable government policies and incentives that exist to promote the use of energy-efficient technologies is predicted to support market expansion in the area. Further, it is predicted that the market would grow at a faster rate during the forecast period owing to the region’s accelerating technical breakthroughs and rising expenditure in research and development. In 2023, India’s industrial production rose by more than 6% annually, with a record high of more than 130% in 2021.
This report also provides the existing competitive scenario of some of the key players of the global brushless DC motor market which includes company profiling of Ametek, Inc., Johnson Electric, Allied Motion Technologies, Inc., Baldor Electric Company, Inc., Johnson Electric, North American Electric, Inc., Schneider Electric, Regal Beloit Corp., and others.
Know more about the complete study@ https://www.researchnester.com/reports/brushless-dc-motor-market/4925
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