Micro Motors Market Research Report – Global Forecast to 2022. Micro Motors Market Information Report by Application (Automotive, Medical Equipment, Industrial Automation and others), by Technology (Brushed and Brushless), by Power Consumption (>11v, 12v-24v, 25v-48v, <48v) and by Region – Global Forecast to 2022.
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The Micro Motors market has registered high growth in recent times on account of growing demand from the Automotive, home appliance, and medical equipment industries among others. Specifically the micro motors market is witnessing increasing demand from the automotive industry. With recent technological developments, high quality micro motors are finding rapid integration in various industries, thus resulting in increasing demand in the micro motors market. With new markets such as electronic information and 3D printing also increasing adopting micro motors the market is expected to register high growth in the forecast period.
The key factor driving the global micro motors market growth is increasing demand from the automotive industry. The second factor contributing to the market growth is rapid integration of high-quality micro motor various industries due to recent technological developments which have resulted in increasing demand in the micromotors market. The rise of the new market is also leading to the global micro motors market growth.
The global micro motors market has been segmented on the basis of application, power consumption, technology, and lastly, region. The application-based segmentation segments this market into automotive, industrial automation, medical equipment, and others. As per power consumption, the market has been segmented into micro motors consuming power less than 11 volts, 12 volt – 24 volt, 25 volt – 48 volt, and above 48 volts. Based on technology, the market has been segmented into the brushed and brushless.
The regional segmentation of the global micro motors market segments the market into the regional markets known North America, Europe, Asia Pacific, and rest of the world (RoW). During the forecast period, the Asia Pacific region is expected to dominate the global market due to the rapid increase in the construction and mining activities in this region. Other factors leading to market growth in this region are growing healthcare centers and increasing disposable income of users. Priority country-specific markets in this region are China, India, and Japan, followed by the remaining Asia Pacific countries.
Europe and North America are expected to form a big chunk of the global market together due to the technological development and presence of many key market players in these regions. In Europe, the vital country-specific markets are France, Germany, Italy, and the United Kingdom (UK), followed by the remaining countries in Europe. German Multinational Design Company Puma has introduced Puma Fi trainers, with micromotor based laces that get tightened on their own. The maximum revenue-generating country-specific markets in North America are the USA, Canada, and Mexico.
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