Precision Motor Market Share

Regionally, the global precision motor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific industry is predicted to dominate majority revenue share of 55% by 2037, impelled by growing ICT sector in countries such as China, Japan, and India. Moreover, increasing demand for precision motors from the end-user industries in the region, is also expected to create numerous opportunities for market growth. In addition, increasing trade of electric motors from China, which is also known to be the world’s largest exporter of electric motors, is also projected to boost the market growth in the region. According to the statistics by the International Trade Center (ITC), the value of exports of electric motors and generators (excluding generating sets), in China, increased from USD 10480806 Thousand in the year 2016 to USD 11845163 Thousand in the year 2018. The market in the region is further segmented by country into China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific. Out of these, the market in China is expected to garner the largest precision motor market revenue of USD 28236.52 Million by the end of 2030, and also grow with the highest CAGR of 8.97% during the forecast period.