Micro Motor Market Share

APAC Market Statistics

Micro motor market in the Asia Pacific is estimated to hold the largest with a share of about 32% by the end of 2037. The market in the region is also expected on account of growing reliance on automation and Industry 4.0. The demand for accurate and efficient micromotors is rising as automation and robots become more widely used in sectors including manufacturing, electronics, and the automobile industry.

The need for micro motors is being influenced by the region's increasing need for electric automobiles. With about six million electric vehicles delivered, China led the Asia-Pacific region in sales of electric vehicles in 2022. In contrast, about 28,000 electric vehicles were sold in New Zealand in 2022.

North America Market Analysis

The North America region will also encounter huge gain for the micro motor market during the forecast timeframe and will hold the second position on account of the increasing frequency of obesity in this region. This expansion is facilitated by the robust presence of major industrial players as well as the thriving landscape for electrical appliances, automobiles, aircraft, and healthcare.

For instance, the California-based electric vehicle (EV) maker Tesla uses micromotors in a variety of applications, including HVAC systems, electric windows, and power steering. The North American automotive sector is experiencing a surge in demand for superior micro motor solutions impelled by Tesla's inventive approach to electric vehicle technology. The strong market demand for electrical gadgets and personal hygiene products in the area also boosts the need for micro motors.