Brushless DC Motors Witness Temporarily Stagnated Sales amid COVID-19 Pandemic, Finds Fact.MR
Leading manufacturers ought to maintain focus on product durability and cost efficiency to regain market positioning post the crisis.
Greater uptake of brushless DC motors by end-use industries such as aerospace & transportation, and home appliances is fuelling market growth. This decade will observe noteworthy sales of electric vehicles which is a major factor driving the sales of brushless DC motors. Further, favourable attributes such as greater resistance towards extreme temperatures, and low maintenance requirements are being preferred by consumers across the globe. Hence, the market will expand at an impressive CAGR of approximately 6% over the projection period (2019-2029).
"The ability of brushless DC motors to minimize complex electrical connections, weight and overall size of automotive components will bode well for market growth," reports Fact.MR in this new study.
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Key Takeaways of the Brushless DC Motor Market Study
• Nearly half the sales of brushless DC motors highlight preference for power of up to 0-750 watts. Demand remains concentrated in compressors, pumps, and fans.
• Motor vehicles continue to generate prolific demand for brushless DC motors, particularly in developing countries.
• Invigorated by surging industrial production, the regional brushless DC motor market in East Asia will capture over 50% revenue share in the overall market stack.
• Enormous growth in power demand across South Asian countries and Oceania will offer profitable opportunities for manufacturers during the forecast period.
• Greater emphasis on fuel-efficient alternatives and supportive government policies will favour the growth of brushless DC motors market through 2029.
• Reduced wear and tear and friction associated with the use of brushless DC motors is complementing the market growth.
• Heightening demand for brushless DC motors in industrial production will contribute substantially to revenue pool on account of greater operating speed, cost savings, and quick response time.
• Proliferation of HVAC systems is a major growth lever of brushless DC motor market.
Key Impediments to Growth
• Relatively high price point of brushless DC motors is retraining the market growth.
• Complex manufacturing process will impede the growth of emerging players in the market.
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