Precision Motor Sector: Growth Drivers and Challenges
Growth Drivers
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Increasing Adoption of Electric Vehicles in the Automobile Industry
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Growing Use of Precision Motors in Healthcare, Aerospace and Defense Industries
Challenges
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Fluctuating Price of Raw Materials
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High Maintenance Cost
Precision Motor Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
7.1% |
|
Base Year Market Size (2024) |
USD 65.85 billion |
|
Forecast Year Market Size (2037) |
USD 160.63 billion |
|
Regional Scope |
|
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of precision motor is evaluated at USD 69.82 billion.
Precision Motor Market size was over USD 65.85 billion in 2024 and is poised to exceed USD 160.63 billion by 2037, growing at over 7.1% CAGR during the forecast period i.e., between 2025-2037.
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.
The major players in the market are AMETEK, Inc., ARC Systems Inc., Allied Motion Technologies, Inc., Siemens Limited, ABB, Yaskawa Electric Corporation, and others.
