DC motors: Key market research findings
- Increasing mandate for power saving drives growth in the market
- Emergence of compact and modular DC motors to boost sales
- Key vendors—ABB, Emerson Electric, Faulhaber, and Siemens
Technavio’s market research analysts estimate the global DC motors market to grow at a CAGR of almost 13% between 2016 and 2020. The mandate for compliance with regulatory standards is the primary driver for the market. Around 20%-30% of the energy consumed in a production process can be saved if energy saving motors such as direct current (DC) motors are used. As a result, strict regulations are being imposed in an attempt to promote the use of DC motors and thereby, curb electricity wastage. At present, Asia dominated the global DC motors market by accounting for over 43% of the overall market share, with China, Japan, South Korea, Singapore, Indonesia, and Vietnam being the major revenue contributors. The increasing power consumption in the region necessitates the use of DC motor thereby contributing to growth in the DC motors market in Asia.
The new market research report from Technavio presents a breakdown and analysis of the DC motors segment based on products.
“The latest trend in the market is the emergence of compact and modular DC motors. Features such as high efficiency, perfect coordination, low-wear materials and well-proven insulation system, high power density with low envelope dimensions, and low noise emission are pushing the demand for modular DC motors in the market. Moreover, they also display optimum operating behavior and maximum dynamic performance with highly smooth running characteristics and balance quality. For instance, Siemens offers modular DC motors in series 5, 6, and 7, which give maximum power in minimum space,” Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research.
In 2015, the less than 750 W segment accounted for the majority of the market share with a stake of more than 83%. This type of DC motors is widely used in applications such as forklifts, battery-operated tools, and for subsystems used in the automotive industry. They also find application in motion control, mobile HVAC systems, electric bicycles, tricycles, toy cars, go-carts, beach vehicles, motorized caddies, and cleaning equipment. The growth of the HVAC industry during the forecast period is likely to stimulate an increased demand for 750 W DC motors by 2020.
The key vendors in the global DC motors market include ABB, Emerson Electric, Faulhaber, and Siemens. Since the global market for DC motors is highly competitive, the major vendors are adopting strategies like M&A to increase their sales and service network globally. In this market, the vendors compete on the basis of product price, quality, innovation, service, reputation, distribution, and promotion to gain maximum market shares during the forecast period.
A more detailed analysis is available in the Technavio report, Global DC Motors Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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