Micro Motor Market Trends

Growth Drivers

• Growing developments in medical technology - Several factors, including the growing technical improvements in medical equipment, are driving the micro motor market. There is an increasing need for more precise and accurate advanced medical devices led by the rising rates of chronic diseases and healthcare costs.because they are utilized in so many different medical equipment, including dental handpieces, surgical robots, implantable technology, and diagnostic tools, micromotors are essential to addressing this need. Moreover, micro motors' expanding demand in the medical industry has been facilitated by their capacity to be integrated into small, portable medical devices.
• Increasing industrial automation trend - The growing trend of automation in various industrial processes is driving the micro motor market. Manufacturing industries are concentrating on streamlining processes, cutting waste, and raising productivity to maintain their competitiveness in the industry.Industries with low profitability, such as oil & gas, metal, and packing, now depend heavily on industrial control and factory automation. Precise assembly is also necessary in the car industry to prevent manufacturing errors that cause huge losses.
  Many micro motors are needed for various factory automation equipment and devices, including robotic welding, pick-and-place machines, customized conveyor belts, automated testing probes, and 5-axis CNC systems. Factory automation is mostly used in the manufacturing sector to guarantee accurate assembly and fast turnaround times.
• Growing popularity of autonomous vehicles - The automobile industry's shift to electric vehicles and autonomous driving technologies will lead to a rise in the need for efficient and small micro motors for a variety of functions within these vehicles, including HVAC systems, power windows, and seat adjustment.More electronic features and systems are being used in the automobile sector. Examples of these include electric power steering, advanced driver assistance systems (ADAS), and electric vehicles (EVs), all of which rely on micromotors for different purposes. Over 10 million EVs are currently on the road. In consideration to this, the micro motor market is estimated to witness growth.

Challenges

• High price of cutting-edge services and technologies in the manufacturing of micromotors - It can be expensive to create and maintain the specialized production techniques and cutting-edge technology needed to produce micromotors. The business also demands the usage of cutting-edge materials, which impact prices even further.Additionally, compared to other industrial products, the demand for micro motors is frequently lower, which makes it difficult to maintain low costs and realize economies of scale. This is particularly true for specialist micromotors designed for specialized uses, where a great deal of development and customization is required, driving up costs even further.
• Micro motors' small size frequently causes overheating and other performance problems. For producers, minimizing these downsides is a major issue.
• The entry of micro motors into low-end and price-sensitive markets is hampered by the availability of small, inexpensive motors.