Brushless DC Motor Market Size is forecast to reach $18.4 billion by 2026, growing at a CAGR of 8.5% during 2021-2026. The increase in global electricity consumption and the use of electrical equipment and machines in different industries and the renewables sector are major factors driving growth in the Brushless DC Motor market during the forecast period. An increase in awareness regarding green vehicles among customers has been a key factor driving the market. Besides this, a rising number of government incentives to encourage sales of green vehicles for safeguarding the environment from carbon emissions is expected drive the market growth. Additionally, Brushless DC Motors have been observing several advancements in technology over the past few years, owing to which its demand is gaining traction in the forecast period 2021-2026.
Brushless DC Motor Market Segment Analysis – By Rotor Type
The inner rotor segment is growing at a significant CAGR of 9.1% in the forecast period. In inner rotor type motors, rotors are positioned at the centre and surrounded by stator winding. These motors are used in the manufacturing, automotive, and consumer electronics industries for robotics, CNC machines, automatic door openers, and metal cutting and forming machine applications. These applications require motors that can carry out fast acceleration and deceleration of speed, offer high starting torque, have reversible action capability, and are compact. According to the IEA, EV Outlook 2020, the global sales of electric cars reached 2 million in 2019, 40% higher than in 2018. This indicates the increased demand for electric vehicles and their accelerated manufacturing in coming years, which in turn, is expected to fuel the demand for inner rotor Brushless DC Motors.
Brushless DC Motor Market Segment Analysis – By Vertical
Automotive sector is expected to witness a highest CAGR of 10.9% the forecast period, owing to various factors such as increase in sales of electric vehicles due to rising concerns over greenhouse gases emissions, and favorable government policies in countries such as India, China and so on. Increasing focus on R&D activities and rapid technological changes owing to the changing government norms for vehicle safety are projected to drive the market. In addition automotive safety norms are evolving in developing countries due to upcoming legislations for active and passive safety systems, which mandate the installation of safety systems in passenger cars. This considerably increases the installation of safety systems such as ABS and ESC per vehicle and thus, increases the demand for Brushless DC Motors. Safety features are enhanced by ABS, ESC, and brake assist motors platforms, which provide high power density and reliability for all vehicles, including hybrid and electric car braking systems. Advanced compact pedal adjuster motors are designed to provide the highest uniformity in the smallest package to enhance driver control and comfort. All these features are increasing the comfort and performance of a vehicle, subsequently driving the demand for Brushless DC Motors in the forecast period 2021-2026.
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Brushless DC Motor Market Segment Analysis – By Geography
Brushless DC Motor market in Asia-Pacific region held significant market share of 40.5% in 2020. Increasing compliance for energy efficient motors and rising adoption of motor-driven electric vehicles are the key factors driving market growth. The rising demand for efficient energy usage over concerns of environmental impact of energy generation from conventional sources such as coal and natural gas, is expected to help grow the Brushless DC Motor market. In addition advancements in the agriculture sector and enormous investments in industrialization in countries such as China, India, South Korea, and Australia is driving the market growth. Further, the increasing production and sales of electric vehicles in countries including China and Japan is also analyzed to drive the market growth.
Brushless DC Motor Market Drivers
Rise in demand for Electric Vehicles
The electric car market has witnessed rapid evolution with the ongoing developments in automotive sector and favorable government policies and support in terms of subsidies and grants, tax rebates. Major manufacturers such as General Motors, Toyota, and BMW plan to release a potential of 400 models and estimated global sales of 25 million by 2025. In 2021, Ford Motor has committed to increase its investments in electric vehicles to $30 billion by 2025, up from a previous spend of $22 billion by 2023. Similarly, in 2020, Volkswagen, Chinese ventures has committed to invest $17.5 billion in electric vehicles by 2025. As electric vehicles use various types of Brushless DC Motors, hence the rising demand for electric vehicles globally drives the automotive valves market.
Growing R&D activities
Manufacturers are continuously focusing on R&D to develop new and effective Brushless DC Motors to meet consumer demand. Increasing concerns, such as environmental pollution and regulations, are forcing manufacturers to develop Brushless DC Motors that reduce vibration and increase efficiency. For instance, a synchronous Brushless DC Motor is around 80% more efficient than an Brushless DC Brushless DC Motor. Similarly, the development of a new type of steel for Brushless DC Motors, which reduces the weight of the Brushless DC Motor and makes it more efficient and powerful. This new type of Brushless DC Motor will be small in size and cost effective, which will raise demand from residential and commercial applications. Moreover growing developments from various companies is also analysed to drive the market growth. In 2020, ABB has launched low voltage IEC Brushless DC motor to reduce the overall size of the equipment. Similarly, Arc Systems Inc. developed the squirrel cage Brushless DC Brushless DC Motor with class-H insulation materials, which can sustain high temperature. Hence these factors are analysed to drive the market growth in the forecast period 2021-2026.
Brushless DC Motor Market Challenges
Easy availability of low-quality Brushless DC Motors
The market for Brushless DC Motors is highly fragmented, with a significant number of domestic and international manufacturers. Product quality is a primary parameter for differentiation in this market. The organized sector in the market mainly targets industrial buyers and maintains excellent product quality, while the unorganized sector offers low-cost alternatives to tap local markets. Local manufacturers of Brushless DC Motors in most countries target the unorganized sector and compete strongly with the global suppliers in the respective markets. Leading market players are currently exposed to intense competition from such unorganized players supplying inexpensive and low-quality Brushless DC Motors. This acts as a key challenge for the growth of the market.
Brushless DC Motor Market Landscape
Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Brushless DC Motor market. Brushless DC Motor top 10 companies include ABB Ltd. AMETEK, Inc., Johnson Electric Holdings Limited, Siemens AG, Rockwell Automation, Toshiba Corp., Hitachi Ltd., Nidec Corporation, ARC Systems Inc., among others.
In 2021 BorgWarner launched HVH 320 Brushless DC Motors in four variants. They are offered to light-duty passenger cars and heavy-duty commercial vehicles.
In 2020, ABB has launched new range of low voltage IEC Brushless DC motors, which are compactly designed and reduces the overall size of the equipment by minimizing space and total cost of ownership.
The rising demand for efficient energy usage over concerns of environmental impact of energy generation from conventional sources such as coal and natural gas, is expected to help grow the Brushless DC Motor market in APAC.
The inner rotor segment is growing at a significant CAGR of 9.1% in the forecast period. In inner rotor type motors, rotors are positioned at the centre and surrounded by stator winding.
Automotive sector is expected to witness a highest CAGR of 10.9% during the forecast period, owing to various factors such as increase in sales of electric vehicles due to rising concerns over greenhouse gases emissions, and favourable government policies in countries such as India, China and so on.
Brushless DC Motor companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers.
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