Coreless DC Motors Market in India by Product and Application - Forecast and Analysis 2024-2028
| Published: Feb 2024 | Pages: 147 | SKU: IRTNTR41569 |
India Coreless DC Motors Market Forecast 2024-2028
The India Coreless DC Motors Market size is forecast to increase by USD 665.32 million, at a CAGR of 4.62% between 2023 and 2028. The growth rate of the market depends on several factors, such as the advantages of coreless DC motors over cored DC motors, the increased need to reduce the size of machine tools, and the advances in coreless DC motor design. Our report examines historical data from 2018-2022, besides analyzing the current and forecasted market scenario.
Citizen Watch Co. Ltd., via its subsidiary Citizen Chiba Precision Co. Ltd., provides coreless DC motors like the NC 1325 and NC 1539. Meanwhile, ITOCHU Corp., through its subsidiary C.I. Takiron, also offers coreless DC motors. These motors are essential components in various applications, including healthcare technology, for their compact size and efficient operation.
Market Forecasting and Size
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Market Dynamic
Our researchers studied the market research and growth data for years, with 2023 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the Coreless DC Motors Market in India.
Driver-Advantages of coreless DC motors over cored DC motors
The small and compact design of coreless DC motors finds use in handling and dispensing equipment. Coreless DC motors also have low electrical noise and are lightweight, which makes them preferable in medical equipment. They also find use in small pumps, which are used for various industrial processes such as gel dryers, automotive systems filling, and vacuum metallurgy. The benefits of small and compact design, lightweight, and low electrical noise, among others, give coreless DC motors an edge over cored DC motors in an industrial setting. Conventional DC motors have an iron core permanent magnet and are designed to have teeth to power the winding motion, which leads to torque ripple.
Moreover, the teeth of the iron core ensure precision during the start and stop functionalities in robotic applications and result in vibration and noise. On the other hand, the design of coreless DC motors eliminates the magnet teeth, thereby reducing vibration and noise, and preventing clogging to ensure the smooth functioning of DC motors at varying speeds. This is expected to drive the demand and sales of coreless DC motors during the forecast period.
Trends- Increasing need for customized coreless DC motors
End-users are constantly trying to enhance the available resources to reduce the overall capital expenditure (CAPEX) and operating expense (OPEX) involved in industrial applications. The use of energy-efficient motors has gained traction in the recent past. The growing need to reduce industrial machinery size and optimally utilize floor space has compelled vendors to provide customized products. As coreless DC motors feature a modular design, they provide vendors with the ease of customization. Vendors are trying to reduce the size of motors without compromising on the specified performance requirement.
In addition, many vendors are providing customization options such as planetary gearheads for integration with motors, application-specific motors, and drive systems. The additional option of optical encoders is also provided by vendors, as optical encoders provide accurate positions, feedback, and velocity of the motor shaft, which ensures efficient motor control. The gradually rising preference for these parameters has increased the demand for coreless DC motors, and the growing customization of motors is expected to foster the growth of the coreless DC motors market in India during the forecast period.
Challenge- Fluctuating raw material prices
The scarcity of raw materials has emerged as a major challenge for the coreless DC motors market in India. Rare-earth metals such as neodymium, iron, and boron are used in making permanent magnet motors. These magnets are very useful for motors, and they are twice as strong as a typical ferrite-based magnet. However, rare-earth metals are difficult to mine and fabricate into components. These metals are found in limited quantities at a given place. Therefore, any fluctuation in their price impacts the cost of these magnets and consequently the price of permanent magnet motors. China supplies over 90% of the rare-earth magnets across the world. The first quarter of 2023 observed a rise in the prices of rare-earth metals due to an increase in their demand from the industrial segment along with an imbalance in the demand and supply of rare-earth metals.
A rise in the prices of copper has led to a major shift from copper to a much lighter metal, aluminum, by manufacturers. As most coreless DC motors require electromagnetic forces to drive the motor, there is an increasing need for copper. Presently, an alternative to copper is not available for replacing the copper wiring in coreless DC motors. Due to fluctuations in the prices of raw materials, manufacturers are finding it difficult to prevent the rise in the overall cost of motors. This will hinder the growth of the coreless DC motors market in India during the forecast period.
Market Segmentation by Product, End-user, and Power Output
Product Segment Analysis
The cylindrical coreless DC motors segment will account for a major share of the market's growth during the forecast period.? Cylindrical coreless DC motors are used in industrial applications where a distributed winding is essential and functionality of 1,000 revolutions per minute (RPMs) and above is desired. The rotor frame is made of laminations with slots to hold the windings. The rotor is generally made from solid cylindrical forging and machines out the pole bodies and pole tips. The field windings are edge-wound copper strips with dimensionally stable insulation material bonded between the turns. Cylindrical rotors can be rapidly adapted to support a variety of detailed customer applications and starting methods.
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The cylindrical coreless DC motors segment was valued at USD 1,435.04 million in 2018. The growing need for conducting cost-efficient operations and an increasing number of high torque applications across industries are expected to drive the growth of the Coreless DC Motors Market in India during the forecast period. The growth of industries, such as the power and automotive industries, and the increasing need for plant maintenance in the power industry under the cylindrical coreless DC motors segment will drive the growth of the coreless DC motors in India during the forecast period.
Who are the Major Market Companies?
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Baumuller Nurnberg GmbH: The company offers coreless DC motors namely DC disc motors GDM.
We also have detailed analyses of the market’s competitive landscape and offer information on 08 market companies, including:
Citizen Watch Co. Ltd., ITOCHU Corp., maxon motor AG, Nidec Corp., Regal Rexnord Corp., Shanghai MOONS Electric Co. Ltd., and Shenzhen Topband Co. Ltd.
Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
Segment Overview
The market analysis and report forecasts market growth analysis by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
- Product Outlook
- Cylindrical coreless DC motors
- Disc coreless DC motors
- End-User Outlook
- Industrial
- Consumer durables
- Automotive
- Aerospace and defense
- Others
- Region Outlook
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- France
- Rest of Europe
- APAC
- China
- India
- South America
- Chile
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- North America
Market Analyst Overview
The coreless DC motors market in India is witnessing significant growth driven by factors such as urbanization, industrialization, and technological development. These motors offer high-efficiency rates, thanks to their copper coils and the absence of an iron core. They find applications in drones, medical gadgets, optical equipment, and miniature pumps, among others. With the rise in disposable income, there's an increased demand for customized coreless DC motors. However, challenges such as overheating and maintenance costs persist.
Moreover, to tap into the market opportunities, domestic players need to optimize their value chain and comply with trade regulations. Import-export analysis and production analysis are crucial for identifying revenue pockets and enhancing market share. Overall, the market shows untapped potential, especially for those focusing on industrial safety and catering to end-use industries.
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Industry Scope |
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Report Coverage |
Details |
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Page number |
147 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.62% |
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Market growth 2024-2028 |
USD 665.32 million |
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Market structure |
Concentrated |
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YoY growth 2023-2024(%) |
3.98 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Baumuller Nurnberg GmbH, Citizen Watch Co. Ltd., ITOCHU Corp., maxon motor AG, Nidec Corp., Regal Rexnord Corp., Shanghai MOONS Electric Co. Ltd., and Shenzhen Topband Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Coreless DC Motors Market Report In India?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the market between 2024 and 2028
- Precise estimation of the size of the market growth and trends and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
- Market growth and forecasting across India
- A thorough market analysis and report of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of market companies
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1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Power Output
- Exhibit 07: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 08: Parent market
- Exhibit 09: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 10: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 11: Market segments
- 3.3 Market size 2023
- 3.4 Market outlook: Forecast for 2023-2028
- Exhibit 12: Chart on India - Market size and forecast 2023-2028 ($ million)
- Exhibit 13: Data Table on India - Market size and forecast 2023-2028 ($ million)
- Exhibit 14: Chart on India: Year-over-year growth 2023-2028 (%)
- Exhibit 15: Data Table on India: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
- 4.1 Coreless DC Motors Market in India 2018 - 2022
- Exhibit 16: Historic Market Size – Data Table on coreless dc motors market in India 2018 - 2022 ($ million)
- 4.2 Product Segment Analysis 2018 - 2022
- Exhibit 17: Historic Market Size – Product Segment 2018 - 2022 ($ million)
- 4.3 End-user Segment Analysis 2018 - 2022
- Exhibit 18: Historic Market Size – End-user Segment 2018 - 2022 ($ million)
- 4.4 Power Output Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size – Power Output Segment 2018 - 2022 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 20: Five forces analysis - Comparison between 2023 and 2028
- 5.2 Bargaining power of buyers
- Exhibit 21: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
- 5.3 Bargaining power of suppliers
- Exhibit 22: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
- 5.4 Threat of new entrants
- Exhibit 23: Threat of new entrants – Impact of key factors in 2023 and 2028
- 5.5 Threat of substitutes
- Exhibit 24: Threat of substitutes – Impact of key factors in 2023 and 2028
- 5.6 Threat of rivalry
- Exhibit 25: Threat of rivalry – Impact of key factors in 2023 and 2028
- 5.7 Market condition
- Exhibit 26: Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Product
- 6.1 Market segments
- Exhibit 27: Chart on Product - Market share 2023-2028 (%)
- Exhibit 28: Data Table on Product - Market share 2023-2028 (%)
- 6.2 Comparison by Product
- Exhibit 29: Chart on Comparison by Product
- Exhibit 30: Data Table on Comparison by Product
- 6.3 Cylindrical coreless DC motors - Market size and forecast 2023-2028
- Exhibit 31: Chart on Cylindrical coreless DC motors - Market size and forecast 2023-2028 ($ million)
- Exhibit 32: Data Table on Cylindrical coreless DC motors - Market size and forecast 2023-2028 ($ million)
- Exhibit 33: Chart on Cylindrical coreless DC motors - Year-over-year growth 2023-2028 (%)
- Exhibit 34: Data Table on Cylindrical coreless DC motors - Year-over-year growth 2023-2028 (%)
- 6.4 Disc coreless DC motors - Market size and forecast 2023-2028
- Exhibit 35: Chart on Disc coreless DC motors - Market size and forecast 2023-2028 ($ million)
- Exhibit 36: Data Table on Disc coreless DC motors - Market size and forecast 2023-2028 ($ million)
- Exhibit 37: Chart on Disc coreless DC motors - Year-over-year growth 2023-2028 (%)
- Exhibit 38: Data Table on Disc coreless DC motors - Year-over-year growth 2023-2028 (%)
- 6.5 Market opportunity by Product
- Exhibit 39: Market opportunity by Product ($ million)
- Exhibit 40: Data Table on Market opportunity by Product ($ million)
7 Market Segmentation by End-user
- 7.1 Market segments
- Exhibit 41: Chart on End-user - Market share 2023-2028 (%)
- Exhibit 42: Data Table on End-user - Market share 2023-2028 (%)
- 7.2 Comparison by End-user
- Exhibit 43: Chart on Comparison by End-user
- Exhibit 44: Data Table on Comparison by End-user
- 7.3 Industrial - Market size and forecast 2023-2028
- Exhibit 45: Chart on Industrial - Market size and forecast 2023-2028 ($ million)
- Exhibit 46: Data Table on Industrial - Market size and forecast 2023-2028 ($ million)
- Exhibit 47: Chart on Industrial - Year-over-year growth 2023-2028 (%)
- Exhibit 48: Data Table on Industrial - Year-over-year growth 2023-2028 (%)
- 7.4 Consumer durables - Market size and forecast 2023-2028
- Exhibit 49: Chart on Consumer durables - Market size and forecast 2023-2028 ($ million)
- Exhibit 50: Data Table on Consumer durables - Market size and forecast 2023-2028 ($ million)
- Exhibit 51: Chart on Consumer durables - Year-over-year growth 2023-2028 (%)
- Exhibit 52: Data Table on Consumer durables - Year-over-year growth 2023-2028 (%)
- 7.5 Automotive - Market size and forecast 2023-2028
- Exhibit 53: Chart on Automotive - Market size and forecast 2023-2028 ($ million)
- Exhibit 54: Data Table on Automotive - Market size and forecast 2023-2028 ($ million)
- Exhibit 55: Chart on Automotive - Year-over-year growth 2023-2028 (%)
- Exhibit 56: Data Table on Automotive - Year-over-year growth 2023-2028 (%)
- 7.6 Aerospace and defense - Market size and forecast 2023-2028
- Exhibit 57: Chart on Aerospace and defense - Market size and forecast 2023-2028 ($ million)
- Exhibit 58: Data Table on Aerospace and defense - Market size and forecast 2023-2028 ($ million)
- Exhibit 59: Chart on Aerospace and defense - Year-over-year growth 2023-2028 (%)
- Exhibit 60: Data Table on Aerospace and defense - Year-over-year growth 2023-2028 (%)
- 7.7 Others - Market size and forecast 2023-2028
- Exhibit 61: Chart on Others - Market size and forecast 2023-2028 ($ million)
- Exhibit 62: Data Table on Others - Market size and forecast 2023-2028 ($ million)
- Exhibit 63: Chart on Others - Year-over-year growth 2023-2028 (%)
- Exhibit 64: Data Table on Others - Year-over-year growth 2023-2028 (%)
- 7.8 Market opportunity by End-user
- Exhibit 65: Market opportunity by End-user ($ million)
- Exhibit 66: Data Table on Market opportunity by End-user ($ million)
8 Market Segmentation by Power Output
- 8.1 Market segments
- Exhibit 67: Chart on Power Output - Market share 2023-2028 (%)
- Exhibit 68: Data Table on Power Output - Market share 2023-2028 (%)
- 8.2 Comparison by Power Output
- Exhibit 69: Chart on Comparison by Power Output
- Exhibit 70: Data Table on Comparison by Power Output
- 8.3 Less than 10W - Market size and forecast 2023-2028
- Exhibit 71: Chart on Less than 10W - Market size and forecast 2023-2028 ($ million)
- Exhibit 72: Data Table on Less than 10W - Market size and forecast 2023-2028 ($ million)
- Exhibit 73: Chart on Less than 10W - Year-over-year growth 2023-2028 (%)
- Exhibit 74: Data Table on Less than 10W - Year-over-year growth 2023-2028 (%)
- 8.4 10W to 100W - Market size and forecast 2023-2028
- Exhibit 75: Chart on 10W to 100W - Market size and forecast 2023-2028 ($ million)
- Exhibit 76: Data Table on 10W to 100W - Market size and forecast 2023-2028 ($ million)
- Exhibit 77: Chart on 10W to 100W - Year-over-year growth 2023-2028 (%)
- Exhibit 78: Data Table on 10W to 100W - Year-over-year growth 2023-2028 (%)
- 8.5 Above 100W - Market size and forecast 2023-2028
- Exhibit 79: Chart on Above 100W - Market size and forecast 2023-2028 ($ million)
- Exhibit 80: Data Table on Above 100W - Market size and forecast 2023-2028 ($ million)
- Exhibit 81: Chart on Above 100W - Year-over-year growth 2023-2028 (%)
- Exhibit 82: Data Table on Above 100W - Year-over-year growth 2023-2028 (%)
- 8.6 Market opportunity by Power Output
- Exhibit 83: Market opportunity by Power Output ($ million)
- Exhibit 84: Data Table on Market opportunity by Power Output ($ million)
9 Customer Landscape
- 9.1 Customer landscape overview
- Exhibit 85: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 86: Impact of drivers and challenges in 2023 and 2028
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 87: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 88: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 89: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 90: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 91: Matrix on vendor position and classification
- 12.3 Baumuller Nurnberg GmbH
- Exhibit 92: Baumuller Nurnberg GmbH - Overview
- Exhibit 93: Baumuller Nurnberg GmbH - Product / Service
- Exhibit 94: Baumuller Nurnberg GmbH - Key offerings
- 12.4 Citizen Watch Co. Ltd.
- Exhibit 95: Citizen Watch Co. Ltd. - Overview
- Exhibit 96: Citizen Watch Co. Ltd. - Business segments
- Exhibit 97: Citizen Watch Co. Ltd. - Key offerings
- Exhibit 98: Citizen Watch Co. Ltd. - Segment focus
- 12.5 ITOCHU Corp.
- Exhibit 99: ITOCHU Corp. - Overview
- Exhibit 100: ITOCHU Corp. - Business segments
- Exhibit 101: ITOCHU Corp. - Key offerings
- Exhibit 102: ITOCHU Corp. - Segment focus
- 12.6 maxon motor AG
- Exhibit 103: maxon motor AG - Overview
- Exhibit 104: maxon motor AG - Product / Service
- Exhibit 105: maxon motor AG - Key offerings
- 12.7 Nidec Corp.
- Exhibit 106: Nidec Corp. - Overview
- Exhibit 107: Nidec Corp. - Business segments
- Exhibit 108: Nidec Corp. - Key news
- Exhibit 109: Nidec Corp. - Key offerings
- Exhibit 110: Nidec Corp. - Segment focus
- 12.8 Regal Rexnord Corp.
- Exhibit 111: Regal Rexnord Corp. - Overview
- Exhibit 112: Regal Rexnord Corp. - Business segments
- Exhibit 113: Regal Rexnord Corp. - Key offerings
- Exhibit 114: Regal Rexnord Corp. - Segment focus
- 12.9 Shanghai MOONS Electric Co. Ltd.
- Exhibit 115: Shanghai MOONS Electric Co. Ltd. - Overview
- Exhibit 116: Shanghai MOONS Electric Co. Ltd. - Product / Service
- Exhibit 117: Shanghai MOONS Electric Co. Ltd. - Key offerings
- 12.10 Shenzhen Topband Co. Ltd.
- Exhibit 118: Shenzhen Topband Co. Ltd. - Overview
- Exhibit 119: Shenzhen Topband Co. Ltd. - Product / Service
- Exhibit 120: Shenzhen Topband Co. Ltd. - Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 121: Inclusions checklist
- Exhibit 122: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 123: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 124: Research methodology
- Exhibit 125: Validation techniques employed for market sizing
- Exhibit 126: Information sources
- 13.5 List of abbreviations
- Exhibit 127: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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coreless dc motors market in india market
Key Questions Answered
- What are the key global market and the regional market share?
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- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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