Global Vibration Motors Market Anticipated to Achieve High CAGR till 2028
According to a new report by Fact.MR, the global market for vibration motors will exhibit an impressive expansion at a double-digit CAGR during the forecast period, 2017 to 2026.
[USPRwire, Wed Jan 02 2019] In terms of revenues, Asia-Pacific excluding Japan (APEJ) is anticipated to remain the largest market for vibration motors, followed by Europe and Japan. However, the market in Middle East & Africa is projected to register the highest CAGR through 2026. North America will also remain a lucrative region for growth of the vibration motors market, although projected to register a relatively lower CAGR through 2026.
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Vibration Motors are compact coreless DC motors utilized to inform users about any notifications associated with a component or an equipment by sending signals of vibrating, no sound. Main feature of vibration motors are their magnet coreless DC motors, rendering permanent magnetic properties to these motors. Various types of vibration motors are available in the market, which include encapsulated, linear resonant actuators, PCB mounted, brushless coin, brushed coin, and eccentric rotating mass.
Nature of the global market for vibration motors is highly concentrated and competitive, owing to presence of several regional and global vendors. The primary objective of players in the vibration motors market is to enhance their technological expertise, which in turn will enable them in broadening their product portfolio, and retain their competitiveness in the market. Active participants in the global vibration motors market are also concentrating on new product innovations and product line extensions, in a bid to gain a competitive edge.
According to a new report by Fact.MR, the global market for vibration motors will exhibit an impressive expansion at a double-digit CAGR during the forecast period, 2017 to 2026. Revenues from global sales of vibration motors are expected to reach nearly US$ 10,000 Mn by 2026-end.
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Although consumer electronics is expected to remain dominant among applications of vibration motors, sales will witness the fastest expansion for application in industrial handheld tools or equipment through 2026. Medical applications of vibration motors will account for the smallest revenue share of the market over the forecast period.
Based on motor type, sales of DC motors are projected to account for the largest revenues share of the market in 2017. Demand for DC motors will further witness an upsurge by 2026-end. Sales of AC motors are estimated to reflect a high double-digit CAGR through 2026.
Above 2 V voltage rating of vibration motors will remain sought-after in the market, with sales estimated to reach approximately US$ 4,500 Mn in revenues by 2026-end. Between less than 1.5 V and 1.5 V – 2 V voltage ratings of vibration motors, the former will exhibit a comparatively faster expansion in sales, whereas the latter will account for a larger revenue share of the market during 2017 to 2026.
Fact.MR’s report has identified key participants contributing to expansion of the global vibration motors market, which include Nidec Corporation, Fimec Motor, Denso, Yaskawa, Mabuchi, Shanbo Motor, Mitsuba, Asmo, LG Innotek, and Sinano.
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