Global Precision Motor Market to Expand on the Back of Increasing Utilization of These Motors in the Automotive Industries
Research Nester has released a report titled “Precision Motor Market: Global Demand Analysis & Opportunity Outlook 2030” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
The International Energy Agency (IEA), in
one of its statistics, stated that the stock of battery electric vehicles
(BEVs) globally grew from 0.72 Million in the year 2015 to 4.79 Million in the
year 2019.
The statistics portray the growing adoption
of electric vehicles worldwide which is driving the demand for different
components, including precision motors. These motors are used in components
such as wheels, water pumps, radiator fans, and others, backed by their high
efficiency and low power consumption properties as compared to conventional
motors. On the other hand, the increasing adoption of medical equipment in the
healthcare industry, which is also driving the demand for precision motors, is
anticipated to drive the market growth.
The global
precision motor market is
anticipated to grow with a CAGR of 6.80% during the forecast period, i.e.,
2021-2030. The market is estimated to garner a revenue of USD 103407.75 Million
by the end of 2030, up from a revenue of USD 53560.0 Million in the year 2020. On
the basis of type, the market is segmented into brushless motors, brush motors,
AC motors, and stepper motors. In the year 2020, the AC motors segment garnered
the largest market revenue, and is further expected to attain the largest
market revenue of USD 53668.62 Million by the end of 2030, by growing with the highest
CAGR of 7.01% during the forecast period.
Download Sample of This Strategic Report@ https://www.researchnester.com/reports/precision-motor-market/3491
Further,
on the basis of geographical analysis, the global precision motor market is segmented into North America,
Europe, Asia Pacific, Latin America and Middle East & Africa region, out of
which, the market in the Asia Pacific garnered the largest revenue of USD
27178.10 Million and is anticipated to touch a market revenue of USD 57391.30
Million by the end of 2030.
However,
the high maintenance cost of precision motors is one of the major factors
anticipated to restrict the market growth.
This report also provides the existing
competitive scenario of some of the key players of the global precision motor market, which includes
company profiling of AMETEK, Inc., ARC Systems Inc., Allied Motion
Technologies, Inc., Siemens Limited, ABB, Yaskawa Electric Corporation, Nidec
Motor Corporation, OMRON Corporation, Regal Beloit Corporation, maxon motor ag,
and others.
The
profiling enfolds key information of the companies which comprises of business
overview, products and services, key financials and recent news and
developments. Conclusively, the report titled “Precision Motor Market: Global Demand Analysis &
Opportunity Outlook 2030”, analyses the overall global precision motor industry to help new entrants to
understand the details of the market. In addition to that, this report also
guides existing players looking for expansion and major investors looking for
investment in the global
precision motor market in the near future.
Request
Report Sample@ https://www.researchnester.com/reports/precision-motor-market/3491
About Research Nester:-
Research
Nester is a leading service provider for strategic market research and
consulting. We aim to provide unbiased, unparalleled market insights and
industry analysis to help industries, conglomerates and executives to take wise
decisions for their future marketing strategy, expansion and investment, etc.
We believe every business can expand to its new horizon, provided a right
guidance at a right time is available through strategic minds. Our out of box
thinking helps our clients to take wise decision so as to avoid future uncertainties.
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