The micromotor market is projected to grow from USD 44.8 billion in 2023 to USD 68.3 billion by 2028, at a CAGR of 8.8% during the forecast period. The demand for micromotors is driven by factors such as miniaturization, efficiency, precision and accuracy, cost-effectiveness, and innovation, as they are ideal for small, lightweight, battery-powered devices that require high levels of control and can provide high torque and power density in a small package.
Major players in micromotor market are based in Asia Pacific and Europe. MITSUBA Corporation (Japan), Nidec Corporation (Japan), Johnson Electric Holdings Limited (China), Mabuchi Motor Co., Ltd. (Japan), Maxon (Switzerland) and Constar Micromotor Co., Ltd. (China) are among a few leading players operating in the micromotor market. Major focus was given to the development of new products due to the changing requirements of customers across the world. These players have adopted various growth strategies to strengthen their position in the market. These include supply contracts, partnerships, mergers and acquisitions, and expansion activities further to expand their presence in the micromotor market.
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MITSUBA Corporation, based in Japan, specializes in the design, development, and manufacture of various automotive components and systems for use in a range of vehicles, medical equipment, and agricultural equipment. The company provides starter motors and alternators to the global automotive industry, while also producing micromotors for automotive applications like power windows, power seats, and sunroofs. Additionally, MITSUBA manufactures precision machinery, including equipment for semiconductor manufacturing and medical devices. The company is also involved in the production of DC motors, stepper motors, and brushless motors. MITSUBA Corporation places a strong emphasis on research and development, which has led to the development of advanced electric motor-related products and technologies.
Nidec Corporation is a Japanese company that specializes in the manufacture of electric motors and associated components. The company is involved in the development, production, and sales of various types of motors, including small precision motors, automotive motors, home appliance motors, commercial and industrial motors, machinery motors, electronic and optical components, and other related products. Nidec Corporation's business mix comprises Small Precision Motors, Electronic and Optical Components, Machinery, Automotive Products, and Appliance and Commercial and Industrial Products. The company has diversified beyond its core business of producing electric motors and has expanded into the creation of lithium-ion batteries and the advancement of intelligent robots. With a presence in over 40 countries globally, Nidec Corporation offers customers easy access to its range of products.
Johnson Electric Holdings Limited
Johnson Electric Holdings Limited specializes in producing motion products, control systems, and flexible interconnects, which are used in various industries including automotive, medical technology, home appliances, and industrial machinery. Its product range comprises electric motors, such as brushless DC motors, stepper motors, and solenoids, as well as motion subsystems including gear motors and actuators, switches, and flexible printed circuits. With a strong dealer and importer network, Johnson Electric Holdings Limited offers efficient after-sales services to both private and commercial customers in Europe, Asia, and the Americas. The company invests heavily in research and development to create new products and technologies and improve the quality and performance of its existing products. It also focuses on strategic acquisitions to expand its product portfolio and enter new markets.
Mabuchi Motor Co, Ltd.
Mabuchi Motor Co, Ltd. is a Japanese manufacturer of small electric motors that offers a wide variety of DC motors, brushless DC motors, and AC motors for use in different applications such as automotive, home appliances, power tools, and toys. The company has gathered technical knowledge and skills in various aspects of small electrical motor manufacturing. This includes conducting fundamental research, developing and modifying products, designing them, testing them for development, and utilizing production engineering and motor-applied technology. Mabuchi Motor Co., Ltd. serves customers worldwide with operations in Japan, China, Thailand, and Vietnam, among other countries. The company has a strong global presence with 21 subsidiaries across Japan, Latin America, North America, Europe, and Asia Pacific, including China.
Maxon manufactures electric drives and micromotors for use in a diverse range of applications, including automobiles, medical equipment, industrial automation, security technology, consumer appliances, aerospace, and measuring and testing technology. The company's comprehensive product portfolio comprises brushless and brushed DC motors, planetary gearheads, spur gearheads, special gearheads, sensors, encoders, servo amplifiers, positioning controllers, customized drives, and system solutions. Notably, Maxon supplied 35 motors to NASA for the "Spirit and Opportunity" Mars rovers in 2004. Maxon's research and development centers in Germany and Switzerland are responsible for ongoing product development, production and testing systems, and manufacturing procedures. The company operates nine production sites across the US, Europe, and Asia Pacific and has established a dealer network in 40 countries globally.
Micromotor Market by Application (Automotive, Medical Equipment System, Industrial Automation, Construction & Mining Equipment, Agriculture Equipment System), Type, Technology, Power Consumption & Region - Global Forecast to 2028
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