Torque motor market to grow by USD 288.71 million from 2023 to 2027; Growth driven by the high operational efficiency of torque motors - Technavio

NEW YORK, Jan. 15, 2024 /PRNewswire/ -- The torque motor market size is expected to grow by USD 288.71 million between 2022 and 2027. However, the growth momentum of the market will be progressing at a CAGR of 8.01% during the forecast period. The market is segmented by 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 high operational efficiency of torque motors is the key factor driving the growth of the 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.

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Key Highlights:

• The report recognizes the following as some of the key players in the torque motor market: Danaher Corp., ETEL SA, Lafert Spa, Moog Inc., Parker Hannifin Corp., Schaeffler AG, Siemens AG, Tecnotion BV, ZOLLERN GmbH and Co. KG, Hiwin Technologies Corp., NUM AG, Oriental Motor Co. Ltd., Oswald Elektromotoren GmbH, Phase Motion Control Spa, Regal Rexnord Corp., Technai Team Spa, ATE Antriebstechnik and Entwicklungs GmbH and Co.KG, B. Kettere Sohne GmBH and Co. KG, Fischer Elektromotoren GmbH, and Franz Kessler GmbH
• Torque Motor Market is fragmented in nature.
• Market to observe 6.95% YOY growth in 2023.

Market Dynamics:

Trend

• 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.

Challenge- 

• Volatility in raw material prices, which affects the production cost, is a key challenge that affects market growth.
• The raw materials used in torque motor production, like steel, cast iron, and other alloys, are prone to price fluctuations significantly.
• Rare-earth metals are difficult to mine and fabricate into parts, which makes it possible to be available only in limited quantities.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

The DC torque motors are the largest contributing segment to the 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. In addition, 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.

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Direct Drive Technology and Brushless Motors are revolutionizing industrial automation, offering high torque density and enhanced electromagnetic performance. Their application extends to various sectors such as CNC machine tools, robotic systems, aerospace, defense, medical equipment, and the automotive industry. In renewable energy systems, Permanent Magnet Motors contribute to energy efficiency. Frameless torque motors find use in precision machinery, while synchronous motors excel in high-speed applications. Cooling techniques play a crucial role, and innovations in motor design address low inertia and vibration reduction. The market outlook involves global expansion, aftermarket services, and adapting to evolving supply chain dynamics, meeting regulatory compliance. Anticipated trends include continued growth and advancements in electric vehicle (EV) technology.

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The integrated stepper motor market size is estimated to grow at a CAGR of 7.14% between 2023 and 2028. The market size is forecast to increase by USD 53.22 million. 

ToC:

Excustive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

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SOURCE Technavio