The global fractional horsepower motor market revenue was US$ 13,994 million in 2021. The global fractional horsepower motor market revenue is forecast to reach US$ 22,599.8 million by 2030, growing at a compound annual growth rate (CAGR) of 5% during the forecast period from 2022-2030.
The fractional horsepower motor is lightweight and compact. The motor minimizes electromagnetic interference while using low power. Fast operation, superior performance, and more power options are among the features of fractional horsepower motors. Industrial applications for fractional horsepower motors include drilling, polishing, grinding, and various other processes. It is available in both brushed and brushless forms. Industrial applications and aerospace applications widely use fractional horsepower motors.
Factors Influencing Market Growth
Growing industrial automation trends and the popularity of miniature electronics are driving the growth of the global fractional horsepower motor market.
A surge in demand for DC motors in heating, ventilation, air conditioning, agriculture, and other applications, due to features such as energy efficiency, variable speed, environment friendliness, compact size, and low maintenance costs, drives the global fractional horsepower motor market.
The slowdown of the automotive industry and high initial capital investments may slow down the global fractional horsepower motor market growth.
With the rise in robotics and automated robot technologies, the fractional horsepower motor market will provide lucrative growth opportunities.
Impact Analysis of COVID-19
The COVID-19 pandemic had negatively impacted the global fractional horsepower motor market growth. Globally, several governments implemented a lockdown to control the spread of Covid-19. It has affected the demand for motors. Due to the vast size of the market and the fact that many players have extensive sales channels in various countries, the lack of workers and travel restrictions have put a halt to production and brought the market to a standstill. In addition, the high installation, maintenance costs associated with these machines and shortage of labor had a negative impact on the market growth for fractional horsepower motor.
Regional Insights
Asia Pacific led the fractional horsepower motor market in 2021 and is forecast to remain dominant during the forecast period. As a result of the advancement of the agriculture sector, high investments in industrialization, and an increasing number of electric vehicles in the market. Thus, all these factors are contributing to the regional growth of the fractional HP motor market.
North America is forecast to grow significantly during the forecast period. Due to the favorable market for high-efficiency motors used in HVAC, industrial applications, and electric cars in the area.
Leading Competitors
The leading prominent companies profiled in the global fractional horsepower motor market are:
ABB Limited
Allied Motion, Incorporated
AMETEK, Incorporated
BorgWarner Incorporated
Denso Corporation
Johnson Electric Holdings Limited
Nidec Corporation
Robert Bosch GmbH
Rockwell Automation, Incorporated
Toshiba International Corporation.
Other Prominent Players
Scope of the Report
The global fractional horsepower motor market segmentation focuses on Motor Type, Product Type, Application, and Region.
Segmentation based on Motor Type
Alternating Current (AC) Motor
Direct Current (DC) Motor
Segmentation based on Product Type
Brushed
Brushless
Segmentation based on Application
Automotive
HVAC
Medical Equipment
Home Appliance
Others
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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