| Status : Published | Published On : Jun, 2023 | Report Code : VRAT9603 | Industry : Automotive & Transportation | Available Format :
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Page : 180 |
Global Electronically Commutated Motors Market – Analysis and Forecast (2023-2030)
Industry Insight by Product Type (Constant Air Flow, Constant torque, and Constant speed), by Motor Type (Brushless DC Motors, Permanent Magnet AC (PMAC) Motor, and Servo Motors), by Power Rating (0-750W, 750W-3KW, 3KW-75KW, and Above 75KW), by Application (HVAC(Residential and Commercial), Consumer Electronics, Automotive, Packaging, Material Handling, Industrial Machines, and Others), and by Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)
Industry Overview
The global electronic commutated motors market is growing at a steady and decent pace during the forecast period and is expected to grow at a CAGR of 5.8 % during the forecast period. The global impact of COVID-19 has reduced the overall production of electric motors in 2022. As a result, there is a negative impact on the growth of the electronically commutated motor industry globally. An electronic commutated motor is brushless and has electronic control circuit to fluctuate its speed. So, EC motors are long-lasting, less maintenance cost, highly efficient, and improve energy conservation. Moreover, environmental concerns, a rise in demand for electric vehicles, and energy regulations by authorities across the globe are propelling the growth of the electronically commutated motors market. Electronically commutated motors are used in fractional horsepower applications as they consume less electricity and less heat which helps air-conditioners and refrigeration systems to operate more efficiently.
Market Segmentation
Insight by Product Type
On the basis of product type, the market is divided into constant airflow, constant torque, and constant speed. The constant airflow segment is holding a major market share in 2020. They are highly efficient, reduce the air noise and provide a soft start/stop. Constant torque motor technology is growing quickly as it offers many advantages like efficiency, operation, comfort, and cost. They are positioned in mid-tier product offerings and are used in motors, air handlers, and packaged products. Constant speed electronically commutated motors are designed to operate at a specific speed as decided by power supply frequency.
Insight by Motor Type
Based on motor type, the market is segmented into brushless DC motors, permanent magnet AC (PMAC) motors, and servo motors. The brushless DC motors account for the largest market share as it provides less noise, are more efficient, have less power consumption, are long-lasting, and have high torque to weight ratio.
The permanent magnet AC (PMAC) motor segment is expected to grow at a steady rate as it is used in the constant magnetic field. It has a small size and high power density. The maintenance cost, heat generation, and torque ripple are also low. Servo motors are mainly used in angular or linear positions having specific velocity, and acceleration.
Insight by Power Rating
Based on the power rating, the market is divided into 0-750W, 750W-3KW, 3KW-75KW, and above 75 KW. 0–750W segment will have the major market share of the electronically commutated motors market during the forecast period.
Insight by Application
On the basis of application, the market is divided into HVAC (Residential and Commercial), consumer electronics, automotive, packaging, material handling, industrial machines, and others. Due to technology development in the electronically commutated motors market, it is widely used in HVAC (residential and commercial). There has been an increase in usage of electronically commutated motors in many applications of various industries such as automotive, packaging, material handling, industrial machine, etc. This has led to electrical efficiency, facility to control, and explicit operation of motors. Thus, these factors will drive the growth of the electronically commutated motors market.
Industry Dynamics
Industry Trends
Manufacturers of electronically commutated motors are working on energy-efficient motors and fans which will be fulfilling the needs of various end-users. This will create a strong business in developed countries. There is an increase in demand for refrigeration supplies as a result manufacturers are increasing their production capacities to cater to the demand. Also, EC motors emit less carbon dioxide which is beneficial for the electronically commutated motors market. The industry is investing in research and development (R&D) for providing energy-efficient electronically commutated motors.
Growth Drivers
The growth driver for electronically commutated motors is efficiency, low maintenance cost, long life span, and controllability. Electronically commutated motors are used in heating, ventilation, the automobile sector, and air conditioning. The adoption of electronically commutated motors is increased due to their high efficiency, performance, controllability, and reliability. Environmental concerns, adoption of electric vehicles, and energy regulations by government authorities will allow the entry of new players in the global electronically commutated motors market.
Challenges
Electronically commutated motors are highly efficient, have low maintenance costs, long life span, and are controllable. But the development of substitutes is one of the challenges faced by the electronically commutated motors market. Smart synchronous permanent magnet motors are one of the challenges for the global electronically commutated motors market. This permanent magnet can control energy beyond its initial motor start-up. But the electronically commutated motors require continuous conversion between AC and DC voltage power. This may hamper the market during the forecast period.
Opportunities
The increasing population, need for electric vehicles, environmental interests, rising consumer expenditure, and growing business are creating opportunities for electronically commutated motors globally. Companies are focusing on energy-efficient motors, which will propel their usage in large-and small-scale industries. Also, major companies are increasing their motor production capacity to cater to the demand in the HVAC segment. There are a lot of investment opportunities in the manufacturing & processing sector such as chemical, packaging, automotive, and consumer electronics that will increase the demand for the HVAC electronic commutated motors market.
Geographic Overview
Geographically, because of industrialization and urbanization, APAC is anticipated to have the largest market share of the global electronically commutated motors market during the forecast period followed by North America and Europe. Also, environmental concerns and an increase in the demand for electric vehicles are propelling the global electronically commutated motors market in the Asia Pacific. China being the most populated country is focusing on industrial heating, ventilation, and air conditioning which will create opportunities for the electronically commutated motors market. In North America, energy consumption, government regulations for controlling air pollution, and the use of HVAC systems are factors propelling the growth of the electronically commutated motors market. Europe is also anticipated to create opportunities as it is having strong manufacturing and processing industries. Thus, driving the demand for HVAC electronically commutated motors market in Europe.
Competitive Insight
Key players are focusing on geographical growth, increase in production capacity, and technological development that can cater to customer demand and gain a competitive edge in the global electronically commutated motors market. Companies are focusing on product launches, patents, acquisitions, and partnerships. In April 2020, Maxon Motor launched ECX Speed 4 with brushless DC motors, gearheads, and encoders for the ECX series. This product launch was for medical technology Thus, companies are sustaining their position in a competitive market and are providing a competitive edge.
Some of the key players operating in the electronic commutated motors market: ABB Ltd., Siemens, WEG, PARKER HANNIFIN CORP., Nidec Motor Corporation, Astro Motorengesellschaft mbH & Co. KG, Allied Motion, Inc., Maxon Motor GmbH, Buhler Motor GmbH, and Kollmorgen.
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Source: VynZ Research
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Electronics Commutated Motors Market