- Increasing demand for HVAC applications drives the global brushless DC motors market.
- Manufacturing to be the largest segment in the brushless DC motors market.
- Asia-Pacific to be the leading market for brushless DC motors.
The brushless DC motors market is expected to grow from an estimated $5.19 billion in 2016 to $8.15 billion by 2021, at a CAGR of 9.4% from 2016 to 2021. The global market is set to witness growth, due to increased usage of brushless DC motors across major industries such as chemicals, paper & pulp, marine, automotive, food processing, semiconductors, electronics manufacturing and aerospace.
Brushless DC motors are synchronous electric motors powered by a DC electric source, widely used in appliance, automotive, aerospace, medical, and automated industrial equipment industries, due to their compact size and light weight.
Brushless DC motors offer several advantages, such as increased reliability, reduced noise, longer lifetime, and elimination of ionizing sparks from the commutator, and reduced electromagnetic interference, which, in turn, help in the growth of the market. The brushless DC motor market is expanding due to their increasing usage in electric vehicles, consumer durables, HVAC equipment, robotics, industrial automation, and medical equipment.
Increasing demand for HVAC applications drives the global brushless DC motors market
Heating, ventilation, and air conditioning (HVAC) systems provide thermal comfort and air quality in an indoor space, and are one of the core building blocks for modern infrastructure, especially for large office buildings or shopping malls. Electric motors are widely used in HVAC systems to achieve greater efficiency in air-flow systems and to maximize their life and power.
The demand for HVAC systems is increasing in APAC, especially in China and India, owing to the continuous growth in industrial and commercial sectors. According to market Intelligence Company, Timetric’s Construction Intelligence Centre (CIC) report, around $1.08 trillion will be invested in the next four to five years in the construction sector, especially for the development of industrial buildings. India alone has projects worth $411 billion, followed by China with $200 billion of planned investments, and Indonesia with $124 billion investments, by 2020.
Expansion of commercial space, upcoming offices, corporate hubs, residential buildings, organized retail outlets, and increase in income levels in China, India, and other developing countries make HVAC equipment more accessible to a larger number of consumers.
Manufacturing to be the largest segment in the brushless DC motors market
With regard to the end user segment, manufacturing & industrial end user segment in the brushless DC motors market is expected to be the largest market in 2016. Increasing rate of industrial automation in industries like chemical, automobile, paper & pulp, food processing, electronic manufacturing and aerospace is anticipated to fuel the growth of global brushless DC motors market.
The inner rotor brushless DC motors segment is expected to hold the largest share of the brushless DC motors market
The inner rotor brushless DC motors segment led the brushless DC motors market in 2015 and is expected to grow at the fastest rate during the forecast period, owing to the increasing requirement of inner rotor brushless DC motor for medical & healthcare application. This segment is primarily driven by rising demand for high speed, highly reliable, and quiet brushless DC motors for medical devices and healthcare application, and is expected to create new revenue pockets for the brushless DC motors market during the forecast period.
Asia-Pacific: The leading market for brushless DC motors
Asia Pacific is expected to dominate the global brushless DC motor market during the forecast period, owing to increasing demand for consumer electronics and automotive product in China, India, Taiwan, South Korea, and Japan. The North American market is projected to grow at the second-highest CAGR from 2016 to 2021 due to increasing demand for highly sophisticated medical devices. Growing economies, such as China, India, and Taiwan are the most promising markets for brushless DC motors.
Key players in the brushless DC motors market include Nidec Corporation (Japan), Johnson Electric Holdings (China), Allied Motion Technologies (U.S.), AMETEK (U.S.), and Maxon Motor AG (Switzerland).