Brushless DC Motor Market is Predicted to 5.7% CAGR till 2028
The global Brushless DC Motor Market size is expected to reach USD 26.3 billion by 2028, registering a CAGR of 5.7% from 2021 to 2028, 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-cost maintenance, high efficiency at lower costs, and the rising adoption of Electric Vehicles (EVs) are some of the key factors driving the product demand over the forecast period.
The emergence of sensor-less controls for brushless DC (BLDC) 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. Furthermore, the growing production of vehicles, globally, to cope up with the rising demand is anticipated to have a positive impact on the market growth.
The product is extensively used in motorized vehicle applications, such as in sunroof systems, motorized seats, and adjustable mirrors. In addition, these powertrains are extensively being preferred for performance applications in vehicles, such as chassis fittings, power-train systems, and safety fittings, owing to simple structure, fewer maintenance requirements, and extended operational life. Thus, increasing product adoption by the automobile industry for multiple applications is anticipated to drive the market over the forecast period.
Rising product usage in EVs in mechatronic systems, primarily in batteries for accumulators and power electronic converters, owing to advantages, such as high operating speed, compact size, and quick response time, will also augment the market growth. The production of EVs is on the rise, globally, supported by government initiatives to encourage the usage of non-conventional fuels and effectively reduce the adverse impacts of carbon emissions. Thus, the increasing EV production is anticipated to directly influence the product demand over the forecast period.
Related Press Release@ Brushless DC Motor Market Report
Brushless DC Motor Market Report Highlights
- The 0-750 Watts segment is expected to witness the fastest CAGR from 2021 to 2028 due to extensive applications of these products in motor vehicles and household devices applications
- Extensive product usage in vehicles for a variety of applications, increased production of automobiles and EVs across the globe are anticipated to drive the growth of the motor vehicle end-use segment over the forecast period
- The industrial machinery end-use segment accounted for the second-highest revenue share of over 24% of the global market in 2020
- This growth was credited to the wide product usage in various industrial machines owing to its advantages, such as high efficiency, low power consumption, and low-cost maintenance
- Asia Pacific is expected to emerge as the fastest-growing regional market registering a CAGR of over 6% from 2021 to 2028
- Rapid industrialization in developing nations, such as China, India, and South Korea, has fueled product adoption in the regional market
- The market is fragmented and most of the major companies are focusing on developing low-maintenance and eco-friendly products to gain a competitive edge