|Fastest Growing Market:||Europe|
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The Global Direct Current (DC) Motor Market is expected to register a CAGR of 7.6% during the forecast period (2022-2027). Factors such as increasing demand for HVAC motors and rising adoption of brushless DC motors are driving the growth of the studied market.
- DC Motors are used in various equipment, such as household appliances, including vacuum cleaners, industrial equipment, forklifts, plastic extruders, and so on. Moreover, the rising efforts of the governments to encourage manufacturing and the rising adoption of electric vehicles are expected to create a huge demand for DC motors.
- Mine hoist is another application of DC motors, which are used prominently to transfer products and people from deep mines to the surface. They can be used in different orientations, overhung from the hoist drum, or fitted with supporting bearings.
- Industrial duty motors are used in fan drives, Banbury mixers, extruders, and other applications that require high torque or speed variability, as well as in the ship propulsion motors, including tugboats, minesweepers, ice breakers, submarines, seagoing dredges, and oceanographic vessels.
- The growing EV landscape across the globe is also propelling the market. In February 2021, Hella eMobionics announced a strategic partnership with Pune-based Kinetic Electric Motor company, a manufacturer of DC motors and automotive electricals, to leverage synergies to tap into the unfolding potential in the growing EV space in India.
- COVID-19 has significantly impacted the market growth, mainly due to stoppage in discrete manufacturing industry operations. For instance, according to the Monthly Survey of Manufacturing, 2021, by the Government of Canada, manufacturing sales fell 2.1% to USD 57.1 billion in April 2021 due to lower sales in 11 of 21 industries.
Scope of the Report
A DC Motor is a class of rotary electrical motor that converts direct current electrical energy to mechanical energy. The Global Direct Current (DC) Motor Market is segmented by Type (Permanent Magnet, Separately Excited, Self Excited (Shunt, Series, Compound)), By End-User Industry (Oil and Gas, Chemical and Petrochemical, Power Generation, Water and Wastewater, Metal and Mining, Food and Beverages, and Discrete Industries), and Geography.
Key Market Trends
Increasing Adoption of Electric Vehicles is Expected to Drive the Market
- Direct Current (DC) motors are widely used in electric vehicles for retracing, positioning, and extending electrically-powered side windows. DC Motors are suitable for many uses because of their low cost.
- Significant investments in the industry are also driving the market growth. For instance, in May 2022, EV component startup Revoh, a manufacturer of motor controllers and brushless DC motors, raised a USD 150,000 fund to build a production facility in Tamil Nadu. The company exports its Brushless DC motors to its clients in the European region. Moreover, it aims to manufacture 4,000 - 6,000 EV motors every month.
- According to the Western Balkans Corporation, in Europe, the environmental and major countries’ automobile CO2 emission regulations are becoming increasingly stricter, thereby expanding the demand for automotive motors and related products and high-efficiency brushless direct current (DC) motors.
- In June 2021, Honda Electric Power launched its first battery-powered motor. The Honda eGX 72V brushless motor is designed to be incorporated into OEM power equipment products for indoor and outdoor applications. The company now offers a complete line of general-purpose engines for industrial, commercial, rental industry, and consumer applications.
- Hyundai has stopped the production of new internal combustion engines, and the company is shifting its focus to electric vehicles. The engine development division at the Research & Development center in South Korea has shut down. The powertrain division has now been modified to the Electrification Development Team, which will now be dedicated to electric vehicles. Such instances are expected to drive the growth of DC motors over a studied period.
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Asia-Pacific is expected to show a significant growth
- Manufacturing is one of the pillars of the Asia-Pacific economy and is undergoing a rapid transformation. This large-scale transformation has put the region in a leading position in the market. The region has evolved in its capabilities, from producing low-cost goods to make more advanced products over the last two decades.
- China is currently the world's largest manufacturing hub, and it is considered to be one of the most competitive nations around the globe. The industry was initially driven by its ability to deliver low-cost labor and materials; however, it quickly advanced through several other competitive drivers, which include infrastructure, favorable governmental policies, a large consumer base, and an established supplier network over the past 10-15 years.
- The Indian Oil Corporation previously announced its plans to invest INR 70,000 crore to further increase its oil refining capacity by 25% by 2030, as it takes the lead in meeting the rising energy needs of the country. Thus, such potential investments by other players are poised to drive the demand for Direct Current (DC) motors in the country.
- As of June 2021, South Korea's finance minister announced that the country is planning to create a KRW 500 billion (USD 448 million) fund to support research and development and facility investments in the next-generation vehicle sector. The automakers have been accelerating the development and production of next-generation automobiles that include autonomous and hydrogen-fuelled vehicles. The government plans to allocate KRW 282.6 billion this year to help auto parts firms to transform their business portfolios for next-generation automobiles. These initiatives from the government can boost the market studied over the forecast period.
- Recently, new refinery projects have been approved by the Chinese government with foreign companies' participation. In January 2022, an Aramco-led joint venture took the final investment decision for the development of a major integrated refinery and petrochemical complex in Northeast China. The new complex will be located in Panjin city. It is expected to be operational by 2024, with a capacity of 300,000 BPD.
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The global Direct Current (DC) motor market is witnessing a rise in competitiveness among companies. The market consists of various major players, such as ABB Ltd., Ametek Inc., and Siemens AG. In terms of market share, these significant players currently dominate the market. However, with increasing technology innovations, many companies are increasing their market presence by securing new contracts and tapping new markets.
- November 2021 - Maxon Motor AG has launched a new frameless BLDC motor. The company has also launched a new series of flat motors for a wide range of robotic applications. When installed, the EC frameless DT50 effortlessly reaches a nominal torque of over 500 mNm at a nominal speed of 4,000 rpm.
- February 2021 - Johnson Electric Holdings Ltd. launched a new series of Low Voltage DC (LVDC) motors for Smart Furniture. The LVDC motor solutions are designed for actuators used in smart recliners, height-adjustable desks, hospital beds, and other smart furniture products. The new LVDC motor platforms are designed from JE advanced motor technology to deliver high torque, 17% longer life, and low operation noise in a compact footprint.
January 2021 - Nidec Motion Control announced a newly-formed distribution partnership with Designatronics. Through this partnership, Nidec’s low-voltage standard DC motors and controllers are made available for industrial automation, robotics, medical technology, safety and security, agriculture, marine, food and beverage, biomass/pellet technology, vending, etc.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porters Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Assessment of Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising Adoption of Brushless DC Motor
5.1.2 Growing Prevalence of Electric Vehicles
5.2 Market Challenges
5.2.1 High Cost and Maintenance
6.1 By Type
6.1.1 Permanent Magnet
6.1.2 Separately Excited
6.2 By End-user Industry
6.2.1 Oil & Gas
6.2.2 Chemical & Petrochemical
6.2.3 Power Generation
6.2.4 Water & Wastewater
6.2.5 Metal & Mining
6.2.6 Food & Beverage
6.2.7 Discrete Industries
6.2.8 Other End-user Industries
6.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Australia & New Zealand
22.214.171.124 Rest of Asia-Pacific
6.3.4 Latin America
126.96.36.199 Rest of Latin America
6.3.5 Middle-East and Africa
7. VENDOR MARKET SHARE
8. COMPETITIVE LANDSCAPE
*List Not Exhaustive
8.1 Company Profiles
8.1.1 ABB Ltd
8.1.2 AMETEK Inc. (Dunkermotoren GmbH)
8.1.3 Johnson Electric Holdings Limited
8.1.4 Nidec Corporation
8.1.5 Siemens AG
8.1.6 Franklin Electric
8.1.7 Allied Motion Technologies Inc.
8.1.8 Baldor Electric Company, Inc.
8.1.9 North American Electric, Inc.
8.1.11 Buhler Motor GmbH
8.1.12 MinebeaMitsumi Inc
9. INVESTMENT ANALYSIS
10. FUTURE OF THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Global Direct Current (DC) Motor Market market is studied from 2020 - 2027.
What is the growth rate of Global Direct Current (DC) Motor Market?
The Global Direct Current (DC) Motor Market is growing at a CAGR of 7.6% over the next 5 years.
Which region has highest growth rate in Global Direct Current (DC) Motor Market?
Europe is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Direct Current (DC) Motor Market?
Asia-Pacific holds highest share in 2021.
Who are the key players in Global Direct Current (DC) Motor Market?
ABB Ltd, AMETEK Inc., Siemens AG, Nidec Corporation, Johnson Electric Holdings Limited are the major companies operating in Global Direct Current (DC) Motor Market.