The global brushless DC motor market is projected to reach a valuation of $20.89 billion in 2024, with revenues expected to soar to $38.49 billion by 2034, marking a steady compound annual growth rate (CAGR) of 6.3% over the decade. The rise is largely fueled by the increasing adoption of service robots in healthcare, which enhances patient care through the utilization of brushless direct current (BLDC) motors known for their speed, low electric noise, longer lifespan, and lighter weight compared to permanent magnet synchronous motors (PMSM)
Key Drivers and Market Dynamics
Healthcare Sector Boost
The healthcare industry’s shift towards service robots for improved patient care is significantly boosting BLDC motor sales. These motors offer advantages such as significant speed, low electric noise, extended lifespan, and a weight advantage over PMSM motors.
Growing Demand for Inner BLDC Motors
Inner BLDC motors, appreciated for their lightweight and compact designs, are increasingly in demand. Their high power density makes them ideal for applications where weight and space constraints are critical, such as drones, portable electronics, and electric vehicles (EVs).
Electric Vehicle (EV) Revolution
Stringent government regulations on emissions, advancements in battery technology, and rising environmental concerns are driving the adoption of EVs, subsequently increasing BLDC motor sales. These motors’ high efficiency and power density are crucial for extending the driving range of electric automobiles. Leading automakers are investing heavily in developing electric variants to cater to a wider consumer base.
For instance, in February 2021, BorgWarner launched a new 800-volt electric motor for commercial vehicles. This high voltage hairpin (HVH) 320 motor promises increased efficiency, reduced charging time, and higher power density.
Market Insights and Projections
Key Takeaways:
- The global BLDC motor market is expected to grow at a 6.3% CAGR from 2024 to 2034.
- East Asia is projected to capture a 37.2% share of global market revenue by 2034.
- Demand in South Korea is expected to accelerate at a 6.3% CAGR through 2034.
- Sales in Japan are anticipated to climb at a 6.5% CAGR from 2024 to 2034.
- The automotive industry is expected to account for 29.3% of the global market share by 2034.
- The demand for BLDC motors of 0 to 750 watts is forecasted to grow at a 6.4% CAGR, reaching $13.78 billion by 2034.
“With the continuous expansion of the consumer electronics industry, BLDC motor manufacturers should look at customized solutions that can result in higher end-product efficiency and reduced power consumption,” says a Fact.MR analyst.
Automotive Industry’s Leading Role
The automotive sector remains a major contributor to BLDC motor demand, projected to accelerate at a 6.4% CAGR and reach a market valuation of $11.28 billion by 2034. Electric, hybrid, and fuel-cell vehicles are pivotal in driving this demand. Additionally, BLDC motors are integral to various automotive systems, including air conditioning, power steering, and window lift mechanisms.
Leading Market Players
Prominent manufacturers in the BLDC motor market include North American Electric Inc., ABB Ltd., TECO Electric & Machinery Co. Ltd., Allied Motion Technologies Inc., Siemens, Ametek Inc., ORIENTAL MOTOR USA CORP., Schneider Electric, Baldor Electric Company Inc., Maxon, TOSHIBA CORPORATION, Regal Beloit Corporation, Johnson Electric Holdings Limited, Nidec Motor Corporation, and Rockwell Automation, Inc.
The brushless DC motor market is poised for significant growth driven by advancements in healthcare robotics and the automotive industry’s transition to electric vehicles. With major players investing in technology and expanding their reach, the future of BLDC motors looks promising, marking a pivotal shift towards more efficient and sustainable power solutions.
