Small motors market surging in Americas
Austin, TX—Riding the wave of a global economic upturn, the small motors market in North and South America is experiencing monumental growth, according to a recent study by IMS Research.
Austin, TX— Riding the wave of a global economic upturn, the small motors market in North and South America is experiencing monumental growth, according to a recent study by IMS Research . In fact, IMS found that some suppliers had as much as a 40% increase in motor sales in the first quarter of 2004 (1Q04). This rejuvenation in the small motor market has been a breath of fresh air to manufacturers, but IMS cautions that the main question is will it last?
While overall growth in the Americas’ industrial production aided re-emerging growth in the small motor market, IMS believes recent prosperity in the semiconductor end-equipment industry had the most significant impact on growth, especially in the stepper motor market. Double-digit growth in the medical devices sector also buoyed sales of many types of small motors. IMS expects this growth to continue well into 2005. However, manufacturers also should be aware that increased outsourcing of OEM facilities and rising raw material prices will have negative short- and long-term implications.
IMS estimates that the North and South American small motor market was worth more than $1.24 billion in 2003, based on sales of more than 292.5 million units. The brushed dc motor segment makes up the largest part of the market, and is valued at approximately $930 million in 2003.
Control Engineering Daily News Desk
Jim Montague, news editor