Coreless DC Motors Market Size, Share, Growth, and Industry Analysis, By Type (Coreless DC Motors, Brushed Coreless Motor, Brushless Coreless Motor), By Application (Medical Device, Consumer Electronics, Power Tools, Industrial Automation, Others), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

REPORT OVERVIEW

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The global coreless DC motors market size was USD 748.2 million in 2022. As per our research, the market is projected to touch USD 1186 million by the end of 2028, exhibiting a CAGR of 8.0% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels.

This market refers to the industry involved in the manufacturing and distribution of a type of direct current (DC) electric motors that operate without a traditional iron core in their armature. These motors are designed with a coil that is wound around a coreless rotor, resulting in a lightweight and compact design. These motors are known for their high efficiency, low inertia, and smooth operation, making them suitable for applications requiring precise control and rapid acceleration. Industries such as robotics, medical devices, aerospace, and consumer electronics utilize these motors for various purposes, benefiting from their advanced design and performance capabilities.

COVID-19 Impact: Profound Adverse Effects of the COVID-19 Pandemic on the Market

The COVID-19 pandemic had a negative impact on the coreless DC motors market. Supply chain disruptions, manufacturing slowdowns, and reduced consumer spending affected the industry. Many end-user sectors, such as automotive, electronics, and industrial automation, experienced setbacks, leading to decreased demand for these motors. Travel restrictions and lockdowns also hindered installation and maintenance services, further affecting the market. Additionally, economic uncertainties prompted cautious investment decisions, impacting new projects and technological advancements. While this market remains resilient due to its specialized applications, the pandemic's disruptions underscored the market's vulnerability to global crises and the need for adaptability in the face of unforeseen challenges.

LATEST TRENDS

"Miniaturization and Enhanced Efficiency a Prominent Trend Shaping the Market"

A prominent trend shaping the coreless DC motors market share is the emphasis on miniaturization and heightened efficiency. Industries such as medical devices, portable electronics, and robotics are increasingly demanding compact yet powerful solutions, driving the adoption of these motors. This trend is facilitated by advancements in materials, manufacturing methods, and magnetic technologies, allowing for the creation of smaller yet more efficient motors. This pursuit of miniaturization aligns with the evolving needs of modern applications, leading to improved performance, energy savings, and enhanced capabilities in a variety of sectors that rely on compact and high-performance motor solutions.

SEGMENTATION

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• By Type

Based on the type, the market is classified as brushed coreless motor, and brushless coreless motor.

• By Application

Based on application, the market is classified as medical device, consumer electronics, power tools, industrial automation, and others.

DRIVING FACTORS

"Advancements in Robotics to Bring Rapid Increase in Growth of Market"

The coreless DC motors market growth is driven by rapid advancements in robotics. These motors find extensive use in robotic applications due to their lightweight design, high efficiency, and precise control capabilities. As industries embrace automation and robotics for tasks ranging from manufacturing to healthcare, the demand for these motors as integral components continues to surge.

"Medical Device Technologies to Fuel the Demand for Efficient and Adaptable Market"

The increasing complexity and miniaturization of medical devices are also pivotal factors propelling the market. These motors are utilized in various medical applications, such as surgical instruments, infusion pumps, and diagnostic equipment, where compact size, low vibration, and reliability are crucial. The continuous evolution of medical technologies fuels the demand for efficient and adaptable motors in the healthcare sector.

RESTRAINING FACTOR

"Chain Disruptions and Raw Material Shortages are Notable Restraining Factors Challenging the Market Supply"

The coreless DC motors market faces a significant restraint in the form of supply chain disruptions and raw material shortages. The global disruptions caused by events like the COVID-19 pandemic have highlighted vulnerabilities in supply chains, affecting the timely availability of components required for manufacturing motors. Raw material shortages, coupled with transportation delays, can lead to production bottlenecks and increased costs. This constraint underscores the importance of robust supply chain management and the need for alternative sourcing strategies to ensure consistent production and delivery of these motors in a rapidly evolving industrial landscape.

REGIONAL INSIGHTS

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"Asia Pacific to Dominate the Market Owing to a Huge Number of Electronic Manufacturers"

Asia Pacific to predominantly influence this market. With nations such as China, Japan, South Korea, and Taiwan leading in electronics manufacturing and robotics, this region plays a central role in coreless DC motor production and consumption. The escalating demand for consumer electronics, automotive components, industrial automation, and medical devices in Asia-Pacific significantly drives the adoption of these motors. Additionally, the presence of established manufacturers, technological innovation, and a conducive industrial ecosystem firmly establish Asia-Pacific's prominence in shaping the coreless DC motors market share.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of the Market"

Financial players are poised to play a pivotal role in driving the expansion of the coreless DC motors market. Investment firms, venture capitalists, and banking institutions are instrumental in providing essential capital and funding avenues to manufacturers, distributors, and businesses operating within the motors sector. Their financial support facilitates research and development efforts, modernization of manufacturing processes, and the expansion of distribution networks. Moreover, financial backing propels market penetration, enabling companies to access new markets and wider customer bases. The involvement of financial players not only accelerates the growth of individual enterprises but also propels the overall progress and competitiveness of the market.

List of Market Players Profiled

• Faulhaber (Germany)
• Portescap (Switzerland)
• Allied Motion Technologies (U.S.)
• Maxon Motor (Switzerland)
• Nidec Copal Corporation (Japan)
• Adamant Namiki Precision Jewel (Japan)
• C.I. TAKIRON (Japan)
• Constar Micromotor (China)
• Once Top Motor (China)
• Topband (China)
• MOONS' (China)
• Citizen Micro (Japan)
• WKX MOTOR (China)
• Citizen Chiba Precision (Japan)
• Assun Motor (China)
• Sinbad Motor (China)
• Dongguan Zhonghanxin Motor (China)
• Hennkwell (Taiwan)

REPORT COVERAGE

In conclusion, the market stands influenced by a multitude of factors, with financial stakeholders emerging as vital contributors to its expansion. Investment firms, venture capitalists, and banks play a crucial role in providing the necessary funding and resources that drive innovation, enhance manufacturing capabilities, and enable market penetration. Their support empowers businesses to navigate challenges, capitalize on opportunities, and ultimately fuels the coreless DC motors market growth. As these financial players continue to play an integral role in shaping the market's trajectory, their involvement reinforces the industry's adaptability, innovation, and resilience in the face of evolving technological landscapes and changing market demands.