As per the report published by Fior Markets, The global DC Motor Control Devices market is expected to grow from USD 623.7 Million in 2017 to USD 1,132.3 Million by 2025 at a CAGR of 7.7% during the forecast period from 2018-2025.North America is dominating the market due to shift in customer preference toward smart solutions that have resulted in improved motor designs. Automation and an uptick in disposable medical devices are also driving the demand for affordable and miniature motors in U.S. and Canada
DC Motor Control Devices Market by Applications (Consumer Electronics, Automotive and Transportation, Industrial, Medical Devices, Others),Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
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Leadersin the industry ABB, Eaton Corporation PLC, General Electric, AMETEK, ARC Systems, Nidec Corporation, FAULHABER and OMRON Corporationamong otherswhichare offering greater opportunities and major players are continuously focused on new product developments and venture capital investments to obtain market share.For instance, the US space agency NASA is planning to send a new rover to the Red Planet which will include a small helicopterto take the first aerial photos of Mars. The rotors will be controlled by robust DC motors from Switzerland. Another best example isfrom FAULHABER: the 1935 BRC series, the newest small brushless DC motor,launched by MICROMO
The applications segment is segmented intoconsumer electronics, automotive and transportation, industrial, medical devices, others. The consumer electronics is dominating the market and valued around USD241.37 Million in 2017 owing to increasing demand for handled devices and home appliances in developing countries such as India and China. The increase in technological improvements and growing awareness regarding energy conservation among the population has led to the growth of the market. Additionally, rising demand for compact and portable devices for vacuum cleaners and fans, HVAC, digital storage devices, and home appliances is expected to create additional revenue for market players over the forecast period.For instance, The British appliance manufacturer Dyson claims to have developed the world’s fastest, most efficient motor for domestic appliances. The Dyson Digital Motor (DDM) v2 is a single-phase brushless DC motor, which operates at speeds up to 104,000 rpm with a claimed efficiency of 84%.
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Mounting demand for efficient use of energy is estimated to drive the DC motor control devices market during the forecast period. Also, rising sales of electric DC motor and high penetration of consumer electronics are another two important derivatives of growth. But factors such as lack of components and reduction in overall production of raw materials are contributing to increased product costs, thereby negatively impacting market growth. However, increase in growth opportunities found in the use of medical devices may boost up the market in coming years.
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