It is no surprise that Brushless DC (BLDC) motor market is projected to continue to grow over the next few years; but you may find interesting the main driving factors behind this growth. According to a new market report from CredenceResearch.com, the BLDC market was valued at $25.6 billion in 2017 and is expected to grow 7.2 percent CAGR to 2026.
China and India will provide the greatest growth potential, primarily due to advancing automotive and HVAC markets. These countries in particular will be facing depleting natural resources with rising demand for energy. They need to address these challenges without impacting their economic growth. Governments are promoting the use of electric vehicles and implementing energy regulations, both of which require BLDC motor technology.
North America will see below average growth, but replacing out-of-date motor technology with more energy efficient systems will keep the market consistent.
According the report, “The global market for DC brushless motors is also expected to be benefited from the replacement of existing DC motors and induction motors with the 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.”
You can view details of the report here: “Brushless DC Motors Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2018 – 2026.”
Do these findings jive with what your company’s roadmap for the next few years? Are you replacing obsolete motor technology for energy efficient and smart motor technology?
Market trends industry growth are topics that will be well covered at Motor & Drive Systems 2019, January 23-24 in Orlando. If you are interested in latest technologies, ROI, and market trends for motor systems, make sure to mark your calendar for the conference. If you are interested in sharing your expertise, consider giving a presentation.