The most recent study conducted by Report Ocean, titled “Global Brush Motor Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Brush Motor. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
The global Brush Motor market held a market value of USD 7,431.0 Million in 2021 and is projected to reach USD 11,442.8 Million by the year 2027 at a growth rate of 7.5% from 2022 to 2027. Furthermore, in 2021, around 122.01 million units of brush motor were sold.
Request To Download Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=ARS246
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Brush motors are an electrical contact that conducts current between moving parts and stationary wires, especially in a rotating shaft. The market is expected to be driven by the rising adoption of electric vehicles and low power requirements of brush motors. Furthermore, pollution control rules and shifting preference towards use of clean fuel is also estimated to fuel the market growth. Despite the driving factors, growing automation of manufacturing process and high maintenance requirements are anticipated to hinder the market growth.
Growth Influencers:
Rising adoption of electric vehicles
Various pollution control rules are increasing the demand for electric vehicles, among other pollution minimizing automotive. Governments of countries such as the U.S. and China have taken various initiatives to build charging stations across their countries, which further boosts the demand for electric vehicles. They have promoted the growth in this segment by imposing tax rebates, offering incentives and preferential policies, among others. According to the International Energy Agency, the sale of electric cars reached 2.1 million globally in 2019, a 40% year-on-year increase since 2018. Such rapid adoption of electric vehicles is also likely to boost the market growth during the forecast period.
Segments Overview:
The global Brush Motor market is segmented into component, type, output power, industry, and sales channel.
By Component,
? Stator
? Rotor / Armature
? Brushes
? Commutator
Download Free Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=ARS246
The rotor/armature segment is estimated to hold the largest market share of around 50% in 2021. The brushes segment is anticipated to witness the fastest growth rate of around 9.1% during the forecast period owing to the various technological advancements.
By Type,
? Permanent Magnet
? Shunt – Wound
? Series ? Wound
? Compound Wound (Shunt + Series)
The series-wound segment is expected to grow at the highest CAGR of 8.9% over the projected period, as they are the most common type of brush motors. The shunt-wound segments holds holds an opportunity of more than USD 1490 Million owing to various advancements in the segment.
By Output Power,
? Less than 750W o/p
? Between 750W and 75kW o/p (Highest CAGR of 8.2%)
? Between 75kW and 375kW o/p
? Greater than 375kW o/p
Between 750W and 75kW o/p segment is expected to witness the highest CAGR of around 8.2% during the forecast period owing to its increasing demand in various industries. The greater than 375kW o/p segment is estimated to surpass a market value of USD 500 million by 2023.
By Industry,
? Aerospace
? Automation
? Broadcast
? HVAC
? Material handling
? Medical
? Oil and Gas
? Power and Energy
? Robotics
? Security
? Transportation
? Others
The aerospace segment is expected to be the highest revenue generating segment in 2021 with more than USD 6,700 million owing to the increasing demand for brush motors in the industry. The medical segment witnessed the highest growth rate of about 10.2% over the projected period owing to the growing medical industry globally. The automation segment holds an opportunity of more than USD 450 Million during 2021-2027 owing to the rising adoption of technologically advanced components in the industry.
Download Free Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=ARS246
By Sales Channel,
? OEM
? Aftermarket
The aftermarket segment is anticipated to witness the fastest CAGR of about 8% during the projected period owing to its rising usage by manufacturers for distribution of brush motors.
Regional Overview
By region, the global Brush Motor market is divided into Asia Pacific, Europe, North America, Middle East & Africa, and South America.
The Asia Pacific region is expected to grow at the fastest growth rate of around 8.2% owing to the growing automotive and medical sector in the region. North America region is estimated to generate a revenue of around USD 1,500 million by 2023 owing to the rising adoption of technologically advanced brush motors.
Competitive Landscape
Major players in the global Brush Motor market include ABB, Allied Motion Technologies, AMETEK, ARC Systems, ASMO, Brook Crompton, Danaher Motion, Franklin Electric, Johnson Electric, Maxon motor, OMRON, OMRON Nidec Corporation, Schneider Electric, Siemens, and Other Players. The cumulative market share of the four major players is more than 35%.
AMETEK is developing and producing a wide range of brushed DC electric motors with voltage ratings of 18 – 32 VDC. Common applications include fans / blowers, actuators, pumps, compressor drives, hoists, gun feeders, turret drives, engine starters, power drive units, cargo loading, radars, canopy ejection and environmental cooling. Similarly, Frnaklin Electric?s motors, pumps, electronica controls, and fuel pumping systems are designed, manufactured, and sold by the Water Systems segment, which accounts for the majority of the company’s sales.
These market players are involved in collaborations, mergers & acquisitions, and new product launches, among other initiatives, to strengthen their market presence. For instance, in January 2022, ABB e-mobility increased investment from 67% to 80% in Chargedot, a Chinese electric vehicle charging provider. With this, the company is set to exnhance its market presence in China.
The global Brush Motor market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Brush Motor market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? List of Brush Motors
? Comparison of Brush and Brushless Motors
The global Brush Motor market report answers questions such as:
? What is the market size and forecast of the Global Brush Motor Market?
? What are the inhibiting factors and impact of COVID-19 on the Global Brush Motor Market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the Global Brush Motor Market?
? What is the competitive strategic window for opportunities in the Global Brush Motor Market?
? What are the technology trends and regulatory frameworks in the Global Brush Motor Market?
? What is the market share of the leading players in the Global Brush Motor Market?
? What modes and strategic moves are considered favorable for entering the Global Brush Motor Market?
Request Full Report- https://reportocean.com/industry-verticals/sample-request?report_id=ARS246
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean is the world’s leading research company, known for its informative research reports. We are committed to providing our clients with both quantitative and qualitative research results. As a part of our global network and comprehensive industry coverage, we offer in-depth knowledge, allowing informed and strategic business conclusions to report. We utilize the most recent technology and analysis tools along with our own unique research models and years of expertise, which assist us to create necessary details and facts that exceed expectations.
Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES
Tel:+1888 212 3539 (US – TOLL FREE)
Website:https://reportocean.com