Market Snapshot
| Study Period: | 2018-2027 |
| Base Year: | 2021 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | North America |
| CAGR: | >4.65 % |
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Market Overview
The automotive micromotors market is anticipated to register a CAGR of 4.65% during the forecast period (2022-2027). The market surpassed a net valuation of USD 34.78 billion in 2021, and it is expected to remain promising during the forecast period, ending with a net valuation of USD 45.68 billion by 2027.
Features such as automatic air vent movement for passing air in water distribution pipes to avoid damage (corrosion, air pockets in radiators), front and rear mirror control, and seat adjustments in all segments have led to a huge demand for these micromotors and their mass production. Mabuchi Motor designed two motors (IS-94BZA and IS-92BZA) for light electric vehicles. The new products achieve lightweight, compactness, high output, and high efficiency.
In 2020, the micromotors market witnessed a steady downfall in global demand during the COVID-19 outbreak. Even though during Q3 and Q4 of FY2020, the demand for micromotors was muted amid a lack of supply chain capabilities during the outbreak, the market regained its growth phase after Q2 FY21 as soon the supply became inline.
As of 2021, the Asia-Pacific region was the largest market for automotive micromotors. It is expected to maintain its dominance by 2027. The region alone contributed to over 55% of the total micromotor production worldwide in 2021. The recent developments in designing compact and high-efficiency motors have created opportunities in the automobile industry. Europe is the second-largest market for automotive micromotors. The North American automotive market is growing relatively fast in production and sales. The features of micromotors allow the automotive industry to incorporate luxury in all segments.
Scope of the report
The automotive micromotors market is segmented by power consumption (less than 11V, 12V-24 V, 25V-48V, and more than 48V), motor type (AC motor and DC motor), Technology (brushed micromotor and brushless micromotor), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America).
The scope of the market covers a comprehensive study based on government incentives and regulatory frameworks to elevate the demand for micromotors globally. Further, ongoing developments and opportunities for new entrants in the business have been evaluated.
| Power Consumption | |
| Less than 11 V | |
| 12V - 24V | |
| 25V - 48V | |
| More than 48V |
| Motor Type | |
| DC Motor | |
| AC Motor |
| Technology Type | |
| Brushed Micromotor | |
| Brushless Micromotor |
| Geography | ||||||||
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Key Market Trends
Automotive Industry to Lead in Technology
Globally, micro motors are witnessing extreme demand from key automotive manufacturers. The demand for automotive parts and components is growing steadily for various applications. The demand for DC and brushed micromotors is driving the adoption of different micromotors in the market.
Automotive seats are now offered with micromotors to enhance massager capabilities. ORVM, power windows, etc., are some of the key use cases of micromotors witnessing higher adoption rates. Thus, demand seems much more effective with the expansion of smart technologies in the automotive sector.
All these high RPM micromotors improve automotive performance. Key manufacturers are much more inclined toward manufacturing micro-motors that consume minimal power.
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Asia-Pacific to Witness Highest Growth
Manufacturing is one of the pillars of the Chinese economy and is undergoing a rapid transformation. This large-scale transformation has put the country in a leading position in the market. The country has evolved in its capabilities, from producing low-cost goods to manufacturing more advanced products over the last two decades.
The Chinese economy is growing, and the disposable income of middle-class consumers is also increasing, which reflects positively on the growing demand for vehicles. Over the past five years, due to the low production costs in the country, vehicle production has gone up drastically. Moreover, the Chinese government has cut down the taxes on cars to increase their sales. China is also one of the largest exporters of automobiles and automotive components. Increasing car production in the region is expected to boost the market’s growth. Chinese automotive exports are heavily influenced by the global economy and environmental regulations. Recent changes in the rules worldwide have had little impact on sales growth.
According to the China Association of Automobile Manufacturers, the largest car market in the world, i.e., China, grew by 3.8% Y-o-Y after a monthly sales of 2.7 million vehicles in December Q4 FY21 and brought total sales to 26.2 million.
In addition, Japan is anticipated to hold the future lucrative opportunities after China in Asia-Pacific, capturing more than 12% overall share in the demand for micromotors. Japan is well equipped with key players, including Nidec Corporation, Mabuchi Motors, and Mitsuba Corporation, which are expected to boost growth in the region. Moreover, emerging economies, including India and ASEAN, are further evaluated to have the demand for micromotors globally.
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Competitive Landscape
The micromotors market is moderately fragmented, with major players holding more than 40% of the total market share. Some of the major market players are Buhler Motor GmbH, Constar Motor, Johnson Electric Holdings Limited, Mitsuba Corporation, and Nidec Corporation. These companies have robust R&D capabilities to cater to the global demand. In addition, an extensive supply chain globally and distribution network helped these business giants to gain traction in the market.
Recent Developments
- In August 2021, Nidec Corporation acquired the manufacturing giant Mitsubishi Heavy Industries Machine Tool Co. The news of the acquisition was announced during Q1 2021. After the end of Q2, the acquisition was successfully completed.
- In March 2021, Maxon Group announced that it is looking forward to increasing its geographical presence in France. Under this expansion, the company has invested a fund of EUR 10 million to open a new production base and innovation center near Beynost, Lyon.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain/Supply Chain Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 PESTLE Analysis
5. MARKET SEGMENTATION
5.1 Power Consumption
5.1.1 Less than 11 V
5.1.2 12V - 24V
5.1.3 25V - 48V
5.1.4 More than 48V
5.2 Motor Type
5.2.1 DC Motor
5.2.2 AC Motor
5.3 Technology Type
5.3.1 Brushed Micromotor
5.3.2 Brushless Micromotor
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Russia
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia Pacific
5.4.3.1 India
5.4.3.2 China
5.4.3.3 South Korea
5.4.3.4 Japan
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 United Arab Emirates
5.4.5.2 Saudi Arabia
5.4.5.3 Turkey
5.4.5.4 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Mergers & Acquisitions
6.3 Company Profiles
6.3.1 ASMO CO Ltd
6.3.2 Buhler Motor GmbH
6.3.3 Constar Motor
6.3.4 Johnson Electric Holdings Limited
6.3.5 Mabuchi Motors
6.3.6 Maxon Motors AG
6.3.7 Mitsuba Corporation
6.3.8 NIDEC Corporation
6.3.9 Wellings Holding Ltd
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Automotive Micro Motor Market market is studied from 2018 - 2027.
What is the growth rate of Automotive Micro Motor Market?
The Automotive Micro Motor Market is growing at a CAGR of >4.65% over the next 5 years.
What is Automotive Micro Motor Market size in 2018?
The Automotive Micro Motor Market is valued at 34 Billion USD in 2018.
What is Automotive Micro Motor Market size in 2027?
The Automotive Micro Motor Market is valued at 45 Billion USD in 2027.
Which region has highest growth rate in Automotive Micro Motor Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Automotive Micro Motor Market?
North America holds highest share in 2021.
Who are the key players in Automotive Micro Motor Market?
Nidec Corporation, Johnson Electric Holdings Limited, Mitsuba Corporation, Buehler Motor Inc., Constar Motor are the major companies operating in Automotive Micro Motor Market.
