Torque Motor Market size is set to grow at a CAGR of 8.01% from 2022 to 2027, Driven by the high operational efficiency of torque motors - Technavio

NEW YORK, March 13, 2023 /PRNewswire/ -- The global torque motor market size is estimated to grow by USD 288.71 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 8.01% during the forecast period. The high operational efficiency of torque motors drives the demand for the global torque motor market during the forecast period.  These motors are used in various fields like robotics, packaging, critical defense, and machine tools like drills, milling machines, and lathes. Factors like easy integration, lower cost of ownership, and dynamic performance boost the growth of the torque motor market. For more insights on the historic market size (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

The COVID-19 outbreak in 2020 had a negative impact on the global torque motor market. The economic effects of the pandemic slowed down the industries in which torque motors are extensively used, resulting in decreased demand for the maintenance of industrial machines. However, after lifting the pandemic restrictions in 2021, the market resumed its growth.

What's New?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial  - buy the report!

Leading trends influencing the market 

• The growing popularity of constant torque motor technology is a recent trend influencing the global torque motor market.
• Constant torque motors are brushless DC motors offering high efficiency. They are controlled through 24-V signals.
• Some key benefits of constant torque motors include reduced utility bills, federal tax credits, and sustainability.

Major challenges hindering the market growth

• Volatility in raw material prices, which affects the production cost, is a key challenge to the growth of the global torque motor market.
• This results in various key vendors opting to enter long-term contracts with suppliers to reduce the impact of fluctuating raw material prices, whereas small vendors don't have such agreements.
• The raw materials used in torque motor production, like steel, cast iron, and other alloys, are prone to price fluctuations significantly.
• Additionally, rare-earth metals are difficult to mine and fabricate into parts, which makes it possible to be available only in limited quantities.

To know more about other drivers, trends, and challenges, historic period (2017 to 2021),
and Forecast (2023 to 2027) - Request a sample report!

Torque Motor Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on type (DC torque motors and AC torque motors), end-user (robotics and semicon industry, food and packaging industry, automotive, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). 

• The DC torque motors are the largest contributing segment to the global torque motor market during the forecast period.
• This segment is further categorized into brushed DC torque motors (BDCM) and brushless DC torque motors (BLDCM). Both motors have different applications.
• The difference between these two types of torque motors is that the BDCM, the simplest type of motor uses a magnetic field while the BLDCM, the more sophisticated type, uses electrical current.
• Hence, the different applications of these torque motors are expected to drive the global torque motor market during the forecast period.

Geography Overview
By geography, the global torque motor market is segmented into APAC, North America, Europe, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global torque motor market.

• The APAC region is expected to contribute to 48% of the growth of the global torque motor market during the forecast period.
• This is because of the increased adoption of torque motors to promote efficiency in manufacturing in countries like India, China, Taiwan, Japan, and South Korea.
• The demand for machine tools integrated with torque motors in APAC is estimated to continue to outpace the demand in other developed regions like North America and Europe during the forecast period.

Get a glance of the market contribution of various segments, historic data (2017 to 2021)
and forecast market size (2023 to 2027) - Download a Sample Report

What are the key data covered in this Torque Motor Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the torque motor market between 2023 and 2027
• Precise estimation of the torque motor market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the torque motor market across APAC, North America, Europe, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of torque motor market vendors

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Table of Contents

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five Forces Summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Type

• Market segments
• Comparison by Type
• DC torque motors - Market size and forecast 2019-2024
• AC torque motors - Market size and forecast 2019-2024
• Market opportunity by Type

Customer landscape

• Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Volume driver - Demand led growth
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• ETEL SA
• Franz Kessler GmbH
• Hiwin Technologies Corp.
• Kollmorgen Corp.
• Lafert Spa
• Moog Inc.
• Parker Hannifin Corp.
• Siemens AG
• Tecnotion BV
• ZOLLERN GmbH & Co. KG

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio