Global sales of frameless brushless DC motors are set to be valued at US$ 11.73 Bn in 2021, with stable long-term projections, according to latest insights from Persistence Market Research. The report estimates the market to expand at over 4% CAGR through 2031. Demand is especially high for use in industrial drives and the automotive industry, with the inner core motor winding type accounting for around two-third of overall sales. South Asia & Pacific leads the global frameless brushless DC motor market, followed by North America and Europe.
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Sales growth for frameless brushless DC motors waned in 2020, owing to COVID-19 economic impact, wherein, related verticals and supply chain mechanisms got disrupted, resulting in end-user demand slowdown. The anticipated degree of market growth remains to be optimistic with the resumption of production activities in several end-use industries in the last 2 financial quarters. As such, 2021 will witness close to normal market growth.
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Key Takeaways from Study
- The electronics equipment industry has witnessed substantial growth in recent years, which is expected to persist going ahead. Positive global electronic spending will lead to increased demand for frameless brushless DC motors.
- The consumer electronics and DIY tools market is projected to register steady growth due to high rate of increasing population and urbanization in emerging countries from Asia Pacific, such as China, India, Indonesia, etc. Rapid growth in electronics production and wide use of DC motors in power tools, computers, refrigerators, etc., is boosting market growth.
- The medical devices segment is expected to lead in terms of both, market share and growth rate during the forecast period. The segment is expected to hold nearly one-third of the market value share throughout the forecast period, attributing to high usage of these motors for precision work purposes.
- Inner core winding motors will hold around two-third overall market share, with high usage in industrial drives and the automotive industry.
- The market in the U.S. is projected to expand at a CAGR of over 4% through 2031, while that in the U.K., China, and India at around 5%.
- Due to the COVID-19 pandemic, the market witnessed a disastrous growth rate of -10.9% in 2020. However, the growth rate is pegged at over 3% for 2021.
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