South Korea Micro Motor Market Size & Outlook, 2023-2030
South Korea micro motor market, 2018-2030 (US$M)
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South Korea micro motor market highlights
- The South Korea micro motor market generated a revenue of USD 1,660.3 million in 2023 and is expected to reach USD 2,561.8 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.4% from 2024 to 2030.
- In terms of segment, dc motor was the largest revenue generating type in 2023.
- AC Motor is the most lucrative type segment registering the fastest growth during the forecast period.
Micro motor market data book summary
| Market revenue in 2023 | USD 1,660.3 million |
| Market revenue in 2030 | USD 2,561.8 million |
| Growth rate | 6.4% (CAGR from 2023 to 2030) |
| Largest segment | Dc motor |
| Fastest growing segment | AC Motor |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | DC Motor, AC Motor |
| Key market players worldwide | Mitsuba, Nidec Corp, Johnson Electric Holdings Ltd, Mabuchi Motor Co Ltd, Buhler Industries Inc, Robert Bosch Engineering & Business Solutions, Denso Corp, Siemens AG |
Other key industry trends
- In terms of revenue, South Korea accounted for 4.0% of the global micro motor market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China micro motor market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,900.5 million by 2030.
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Micro Motor Market Scope
Micro Motor Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea micro motor market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to micro motor market will help companies and investors design strategic landscapes.
Dc motor was the largest segment with a revenue share of 61.75% in 2023. Horizon Databook has segmented the South Korea micro motor market based on dc motor, ac motor covering the revenue growth of each sub-segment from 2018 to 2030.
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Target buyers of South Korea micro motor market databook
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Our clientele includes a mix of micro motor market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea micro motor market , including forecasts for subscribers. This country databook contains high-level insights into South Korea micro motor market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea micro motor market size, by type, 2018-2030 (US$M)
South Korea Micro Motor Market Outlook Share, 2023 & 2030 (US$M)
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