Global Micro Motor Market – Industry Share Analysis with Recent Developments, Market Size Estimation and Forecast 2022-2031

Kenneth Research, in its repository of market research reports, has recently added a report titled Micro Motor Market, that emphasizes on the recent market trends and opportunities available for the growth of the market for the forecast period 2022-2031. The expansion of Pruritus Therapeutics can be attributable to the rising global health expenditures as well as the quickening pace of medical innovation. The World Health Organization (WHO) reported that the average annual growth in total health spending is 6% in low- and middle-income countries and close to 4% in high-income ones. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion. Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.

The market for Research Micro Motor is anticipated to rise at a CAGR of 5% over the course of the forecast period due to rising consumer demand for high-quality healthcare services and the healthcare industry’s rapid expansion. The number of people employed in the healthcare sector has grown somewhat during the last few years. The overall number of employment opportunities in the home healthcare sector in the U.S. is predicted to increase by almost 60% between the years of 2014 and 2024, according to data from the U.S. Bureau of Labor Statistics (BLS). Some of the fastest-growing occupations in the healthcare industry include occupations such as occupational therapy assistants, physical therapy assistants, home health aides, and others. In other statistics by the BLS, jobs for occupational therapy assistants between the period 2014 and 2024 is projected to hold the highest share of 43%. This is further led by physical therapy assistants, physical therapy aides, home health aides, and nurse practitioners, with a share of 41%, 39%, 38%, and 35% respectively.

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The study on the Research Micro Motor market consists of a descriptive evaluation of the overall market scope and the annual growth rate, along with the latest trends and developments in the market in terms of various parameters such as growth indicators, market segmentation, revenue, opportunities along with challenges affecting the market growth. Further, the Research Micro Motor market is likely to attain a notable market value in 2022 as compared to the value achieved in 2031.

In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country’s goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.

On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

As the government has increased its investment in this industry, the healthcare industry in many countries/regions such as the UK, the US, and India is growing at a significant rate. For example, in 2018, the British government spent 252.9 billion U.S. dollars in the healthcare industry. Due to the characteristics of energy efficiency, high torque and high speed, it is expected that this will drive the demand for brushless DC motors. The Middle East, especially the growing demand for HVAC in the Gulf Cooperation Council (GCC) countries, and the United Arab Emirates increased focus on reducing dependence on oil, have promoted the growth in HVAC demand. The micro-motor market in the region. In addition, events such as the 2020 World Expo in the United.

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Arab Emirates and the 2022 World Cup in Qatar are driving demand for infrastructure and HVAC. This is expected to increase the demand for micromotors in the Middle East. All these cases have promoted the growth of the micro-motor market. However, the slowdown in the automotive industry and high initial capital investment are expected to slow the growth of the micromotor market. In addition, it is expected that the increased demand for robotic micromotors and automated robotics technology will provide lucrative opportunities for the growth of the micromotor market.

Competitor analysis:
The main players described in this report include Mabuchi Motor Co Ltd, Nidec Corporation, Buhler Motor GmbH, Johnson Electric Holdings Co., Ltd., Maxon Motor AG, Arc Systems Inc, ABB Group, Mitsuba Corporation, Constar Micromotor Co Ltd And Siemens AG. Major players in this market adopt product launches, partnerships, and expansion as key strategies to meet changing consumer needs. For example, in February 2021, Nidec Corporation acquired Mitsubishi Heavy Industries Machine Tool Co., Ltd. to provide motors, machine tools, cutting tools and related products. The acquisition aims to strengthen the motor and actuator product portfolio.

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