Fractional Horsepower (FHP) Motors Global Market Report 2024

The fractional horsepower (fhp) motors market size has grown strongly in recent years. It will grow from $14.72 billion in 2023 to $15.81 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The expansion observed in the historical period can be attributed to the rise in consumer electronics demand, growth in the automotive industry, expansion of the HVAC and refrigeration sectors, automation in industrial processes, and the development of home appliances.

The fractional horsepower (fhp) motors market size is expected to see strong growth in the next few years. It will grow to $20.97 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The anticipated growth in the forecast period can be attributed to rapid advancements in electric vehicles (EVs), an increased focus on energy efficiency, integration of the Internet of Things (IoT) in appliances and devices, growth in robotics and automation, and an expanding role in renewable energy systems. Major trends expected during the forecast period include increasing automation in industries, a growing emphasis on energy efficiency, expanding applications in HVAC systems, technological advancements in motor design, and a focus on motor miniaturization.

The expected growth of the fractional horsepower motor market in the future is anticipated to be driven by the increasing consumer awareness about eco-friendly products. The escalating awareness, fueled by concerns about climate change and harmful environmental impacts, has prompted a growing demand for eco-friendly alternatives. Fractional horsepower motors, known for their energy efficiency and operation on minimal power, align with eco-friendly principles by conserving energy and minimizing environmental impact. For instance, findings from the Global Buying Green Report (2021), a survey conducted by Trivium Packaging among more than 15,000 end consumers across Europe, North America, and South America, indicated that 67% of consumers consider themselves environmentally aware. Moreover, 73% of consumers expressed a willingness to pay more for products with eco-friendly packaging. Consequently, the heightened awareness regarding environmentally friendly products is expected to drive the demand for fractional horsepower motors in the market.

The anticipated growth of the fractional horsepower (FHP) motors market in the future is expected to be propelled by the increasing number of household appliances. Household appliances encompass a variety of mechanical or electrical devices used in homes to perform specific activities or operations. Fractional horsepower motors find application in household appliances by providing the necessary power while consuming less energy compared to larger motors, ensuring reliable operation for extended periods and powering appliances through numerous cycles. For example, a report published by Trend Economy, a Bulgaria-based information service company, in May 2023 revealed a 15.7% increase in sales of washing machines capable of both washing and drying between 2021 and 2022 in the USA. Consequently, the rising number of household appliances stands as a key driver for the growth of the fractional horsepower (FHP) motors market.

Product innovation is a prominent trend gaining momentum in the fractional horsepower motor market. Major companies within this market are actively dedicated to the development of new and advanced products to solidify their positions. As an example, in September 2021, Kirloskar Brothers Limited (KBL), an India-based pump manufacturing company specializing in the engineering and manufacturing of systems for fluid management, introduced the NEO Series 4-in. This new series comprises borewell submersible pumps equipped with NEMA (National Electrical Manufacturers Association) couplings and a high torque motor, offering a wide voltage range from 180–240 volts. This feature serves to protect the motor from burning due to high or low voltage. The motor in the pump ranges from 0.5 to 3 HP (horsepower). The NEO Series 4-in is designed to prevent the entry of sand and safeguard the pump-set brushes. Notably, it incorporates a cutting-edge water-cooled motor, ensuring a 30% increase in discharge, a 60% boost in lifespan, and energy savings equivalent to a 60% reduction in electricity consumption.

Major companies in the fractional horsepower (FHP) motor market are actively engaged in developing new products, such as electric motors, to gain a competitive advantage. An electric motor is a device that transforms electrical energy into mechanical energy through the interaction of electric currents and magnetic fields. As an illustration, in July 2022, WEG S.A., a Brazil-based company operating in the electric engineering, power, and automation technology sectors, launched the W12 electric motor. This new W12 motor is designed to provide efficiency and versatility, catering to higher performance industrial applications. Notably, the W12 motor stands out as the lightest weight durable motor available, simplifying installation and transportation. Engineered to meet the specific requirements of industrial applications, the motor offers consumers enhanced performance and reliability. The WEG fully interchangeable product line, including the W12 motor, ensures ease of use and adaptability across a wide range of applications.

In February 2021, Nidec Corporation, a Japan-based electric motor manufacturer, successfully acquired Mitsubishi Heavy Industries Machine Tool Co., Ltd., for an undisclosed sum. Through this acquisition, Nidec Corporation seeks to enhance its sales capabilities by combining a motor, an inverter, and a reducer, thereby improving its capacity to manufacture gears - the pivotal component of the traction unit. Mitsubishi Heavy Industries Machine Tool Co., Ltd., the acquired company, is based in Japan and specializes in the design and manufacture of fractional horsepower motors and water pumps.

Major companies operating in the fractional horsepower (fhp) motors market report are Honeywell International Inc., ABB Group, NIDEC Corporation, Aerotek India Pvt. Ltd., B & B Electricals Ltd., AMETEK Inc., Johnson Electric Holdings Limited, Dr. Beck India Pvt. Ltd., Crompton Greaves Ltd., Allied Motion Inc., BGB Electricals Pvt. Ltd., Fiem Industries Ltd., Electro Craft India Pvt. Ltd., AAC Drives Ltd., Euro Motors India Pvt. Ltd., Beacon Electricals Pvt. Ltd., D.G. Controls Pvt. Ltd., C&S Electric Ltd., Elgi Electric & Electronics Ltd., Bharat Bijlee Ltd., Akshay Electricals Pvt. Ltd., C & C Electricals Pvt. Ltd., C.P. Industries Ltd., Macon Power Pvt. Ltd., Empire Electricals Pvt. Ltd., Encon Electricals Pvt. Ltd., Evergreen Electricals & Controls Pvt. Ltd., Hindustan Motors Ltd., Beel Electrical Ltd., Bhavya Electricals Pvt. Ltd., Delta Electric Motion India Pvt. Ltd., Dodsal Electricals Pvt. Ltd., G.M. Electric Drives Pvt. Ltd., GE Fanuc Automation India Ltd., Greaves Cotton Ltd., Indus Power Products Pvt. Ltd., Jyoti CNC Automation Ltd., K.K. Electricals Ltd.

Asia-Pacific was the largest region in the fractional horsepower (FHP) motor market in 2023. The regions covered in the fractional horsepower (fhp) motors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the fractional horsepower (fhp) motors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of fractional horsepower (FHP) motors are AC and DC. AC fractional horsepower motors operate on alternating current, where the direction of electron movement changes back and forth regularly or in cycles. These motors come in various product types, including brushed and brushless, involving different phases such as single-phase and three-phase. Their applications span across diverse industries, including automotive, HVAC, medical equipment, home appliances, and others.

The fractional horsepower (FHP) motors market research report is one of a series of new reports that provides fractional horsepower (FHP) motors market statistics, including fractional horsepower (FHP) motors industry global market size, regional shares, competitors with fractional horsepower (FHP) motors market share, detailed fractional horsepower (FHP) motors market segments, market trends, and opportunities, and any further data you may need to thrive in the fractional horsepower (FHP) motors industry. This fractional horsepower (FHP) motors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The fractional horsepower motors market consists of sales of semiconductor, amplifier, resistor, transistor, ferrite, stepper and servo motors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.