The Rise of Fractional Horsepower Motors Market Growth Statistics & Future Prospects Hits a CAGR of 4.9% by 2030
Fractional Horsepower Motor Market Expected to Reach $22.6 Billion by 2030
PORTLAND, OR, UNITED STATES, September 12, 2023/EINPresswire.com/ — Fractional horsepower motors, often referred to as “small but mighty,” have been gaining significant traction in the market. These compact wonders possess remarkable qualities such as high torque, low maintenance requirements, minimal noise levels, and an impressive torque-to-weight ratio. Their versatility has found them applications in a wide array of industries, including automotive, beauty and healthcare products, and robotics, driving the growth of this niche market. The global fractional horsepower motor market size was valued at $13.3 billion in 2020, and is expected to reach $22.6 billion by 2030, with a CAGR of 4.9% from 2021 to 2030. In 2020, Asia-Pacific dominated the global market, in terms of revenue, accounting for around 41.10% share of the global market.
One of the primary factors propelling the demand for fractional horsepower motors is the increasing use of electronic computation in automation and construction applications. As industries seek to optimize their processes and enhance efficiency, these motors have become integral components, enabling precision and reliability in a variety of machinery and systems. This trend is particularly evident in the automotive sector, where luxury features in vehicles and the growing market for electric vehicles (EVs) have fueled the demand for fractional horsepower motors.
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In the automotive industry, fractional horsepower motors are key players in delivering a range of luxurious features, from power windows and seats to advanced infotainment systems. As consumers increasingly prioritize comfort and convenience in their vehicles, the demand for these motors is on the rise. Furthermore, the shift towards electric vehicles, driven by environmental concerns and regulatory changes, has created new opportunities for fractional horsepower motors. These motors are essential for the operation of various components in EVs, including power steering systems and electric windows.
The pharmaceutical industry is another sector where fractional horsepower motors have made a substantial impact. According to the Indian Brand Equity Foundation, the pharmaceutical industry in India witnessed a significant growth rate of 10.5% from 2018 to 2019. This growth has led to an increased demand for automation and precision in pharmaceutical manufacturing processes. Fractional horsepower motors play a vital role in powering conveyor belts, mixers, and other equipment essential for pharmaceutical production, contributing to the industry’s efficiency and growth.
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The appeal of fractional horsepower motors lies not only in their technical prowess but also in their ability to align with the evolving needs of industries. These motors are not just compact powerhouses; they are enablers of innovation and progress. As technology continues to advance and industries seek ways to enhance their products and processes, the demand for fractional horsepower motors is expected to persist and even expand into new areas. Their efficient and versatile nature positions them as a driving force behind the industries of today and tomorrow.
Top Players:
Rockwell Automation, Inc., Johnson Electric Holdings Limited, Robert Bosch GmbH, DENSO CORPORATION, NIDEC CORPORATION, AMETEK, Inc., BorgWarner Inc., Allied Motion, Inc., ABB, Toshiba International Corporation
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David Correa
Allied Analytics LLP
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