According to a new market report published by Acute Market Reports “Brushless DC Motors Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2020 - 2028,” the global BLDC market was valued at US$ 26.4 Bn in 2019 and is expected to grow at a CAGR of 6.9% through the forecast period from 2020 to 2028. Growing electricity consumption and the need for attaining self-energy sufficiency have expanded the use of DC brushless motors across multiple industry verticals including automobile, oil and gas, food and beverage, mining and infrastructure, utilities, and aerospace and defense among others. Automobile and HVAC segments would remain the most potential end-use segments for DC brushless motors over the forecast period.
Healthy growth and investment opportunities in these end-use application segments, especially in emerging markets like India and China represent a positive outlook for BLDC motors. The projected growth opportunity is a result of the huge motor vehicle and HVAC market in these countries. Rising energy demand and fast depleting fossil fuels have collectively posed a serious challenge to the economic development of many countries. These countries face the challenge of effectively addressing these issues without compromising economic development goals. In order to address these issues effectively, governments worldwide are promoting electric vehicles, which, in turn, is supporting demand for DC brushless motors. Similarly, stringent energy consumption regulations, infrastructural development, and increased discretionary household expenditure is expected to drive the demand for HVAC equipment and hence DC brushless motors.
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The global market for DC brushless motors is also expected to be benefitted from the replacement of existing DC motors and induction motors with state-of-the-art DC brushless motors. The declining price of DC brushless motors is influencing the end-users to increasingly employ DC brushless motors. Although, high initial purchase cost, DC brushless motors are more cost-effective in long term due to low operating and maintenance costs on account of the absence of brushes coupled with greater efficiency are progressively seen as justifying the higher purchase cost of these motors.
Asia Pacific is the largest as well as the fastest-growing regional market for DC brushless motors with increasing industrialization and growing construction section in emerging countries including India, China, and Southeast Asian countries. North America and Europe are expected to witness below average growth due to inconsistent economic growth in these regions. The replacement of obsolete DC motors by advanced energy-efficient brushless motors is expected to keep demand afloat in these conventional markets.
The global brushless DC motors market is fragmented and comprises of a large number of international as well as local players. The global BLDC industry is characterized as highly competitive owing to the presence of a large number of players and less product differentiation among competitors’ offerings. Prominent players in the industry are focusing on mergers and acquisitions in order to strengthen their position in the global industry. Some major players in the global BLDC industry include ABB Ltd, Nidec Corporation, Omron Automation Pvt Ltd, Danaher Motion, Toshiba International, Johnson Electric Holdings, Rockwell Automation Inc, Anaheim Automation Inc, TIMEIC Corporation, AMETEK Inc, Allied Motion Technologies Inc., ARC Systems Inc., Asmo and Brook Crompton Electric.
