Micro Motor Market Size, Share, Growth Analysis, By Type(AC and DC), By Technology(Brushed motor, and brushless motor), By Power consumption(Below 9V, 10V-20V, 21V-50V, more than 50V), By Application(Medical equipment, automotive, industrial automation, aircraft), By Region - Industry Forecast 2024-2031

Micro Motor Market size was valued at USD 39052.11 million in 2019 and is poised to grow from USD 40653.25 million in 2023 to USD 56066.2 million by 2031, growing at a CAGR of 4.1% in the forecast period (2024-2031).

Micro motors have many advantages, including faster operation, higher performance, and a greater range of power options. These are used in drilling, polishing, grinding, and a variety of other industrial processes, and are also available in brushed and brushless configurations. Moreover, these motors are widely used in the industrial and aerospace industries, and it ranges in power from 1V to 60V. These are distinguished from other motors by electronic control, a high weight-to-power ratio, and rapid speed. These are found in equipment like portable power tools, computer peripherals, printers, disc drives, and automobiles. The market is expanding due to benefits such as high torque, low noise level, energy savings, and increased operational efficiency. The market is growing as the urban population grows and consumer awareness of environmentally friendly products grows. However, a sluggish automobile industry and high initial capital investment are likely to restrict the market growth.

US Micro Motor Market is poised to grow at a sustainable CAGR for the next forecast year.