Brushless DC Motor Market Size Worth $27.2 Billion By 2027 | CAGR

6.6%: Grand View Research, Inc.

SAN FRANCISCO, Feb. 24, 2020 /PRNewswire/ -- The global brushless DC motor market size is expected to reach USD 27.2 billion by 2027, registering a CAGR of 6.6% over the forecast period, according to a study conducted by Grand View Research, Inc. These motors are thermally resistant, require low maintenance, and operate at low temperatures, eliminating any threat of sparks.

Low maintenance costs, retrofitting of existing air, high-efficiency at lower costs, and the rising adoption of electric vehicles are some of the key factors driving their growth over the forecast period. The emergence of sensor-less controls for brushless DC type is likely to boost the durability and reliability of the product, thereby reducing the number of mechanical misalignments, electrical connections, as well as the weight and size of the end product. These factors are further estimated to drive market growth over the forecast period.

Key suggestions from the report:

• On account of benefits including durability and less maintenance, the brushless DC motor captured a substantial market share in 2019, a trend that is anticipated to continue over the forecast period.
• The 0 - 750 Watt segment is expected to witness rapid growth from 2020 to 2027, which can be primarily ascribed to their extensive applications in numerous motorized vehicles and household devices applications
• Motorized vehicles extensively use the powertrain for variety of applications. Increased production of automobiles and e-vehicles across the globe is anticipated to positively impact the growth of the segment over the forecast period
• The industrial machinery segment held more than 20% of the global brushless DC motor market share in 2019. Numerous industrial machines deploy the motor owing to advantages offered such as high efficiency, low power consumption, and low maintenance costs
• Asia Pacific is expected to emerge as the fastest-growing regional market, whilst registering a CAGR 8.0% over the forecast period. Increasing industrialization in developing nations such as China, India, and South Korea has fueled the regional market
• The key players capturing major market share include ABB Ltd; Ametek Inc.; Johnson Electric; and Nidec Motor Corporation. Numerous companies are focusing on developing low-maintenance and eco-friendly products in order to gain a competitive edge.

Read 95 page research report with ToC on "Brushless DC Motors Market Size, Share & Trends Analysis Report By Power Output (0 - 750 Watt, 750 Watt - 3kW, 3kW - 75 kW, 75kW & Above), By End Use (Industrial Machinery, Household Appliances), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/brushless-dc-motors-market