Industrial Fractional Horsepower Motors Market Report Overview
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The global Industrial Fractional Horsepower Motors market size was valued at USD 8706.5 million in 2022. As per our research, the market is expected to reach USD 11784.7 million by 2032, exhibiting a CAGR expansion of 3.1% during the forecast period.
Industrial fractional horsepower (FHP) motors are electric motors that generate less than one horsepower of mechanical power. These motors find widespread use in various industrial applications where smaller amounts of power are sufficient.
The growth of the industrial fractional horsepower motors market is influenced by several factors, including technological advancements, increased industrial automation, and the demand for energy-efficient solutions. The global manufacturing sector's expansion, particularly in emerging economies, contributes to the increased demand for industrial motors. Fractional horsepower motors are used in various manufacturing applications, such as conveyors, material handling, and small machinery, driving market growth.
COVID-19 Impact: Market Faced a Fall in Demand Due to Disruptions in Supply Chain During the Pandemic
The global COVID-19 pandemic has been unprecedented and staggering, with the Industrial Fractional Horsepower Motors market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
The pandemic led to disruptions in global supply chains, affecting the production of components and materials used in fractional horsepower motors. Delays in the supply chain hindered manufacturing activities and contributed to a temporary slowdown in production.
Latest Trends
"Emphasis on Energy Efficiency and Sustainability to Make Market More Sustainable"
The Industrial Fractional Horsepower Motors market is as dynamic as any other market. The demand for energy-efficient solutions continues to drive innovation in motor technology. Manufacturers are likely to focus on developing fractional horsepower motors with higher efficiency ratings to meet stringent energy regulations and address sustainability concerns.
Industrial Fractional Horsepower Motors Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into three-phase factional horsepower motors and single-phase fractional horsepower motors.
In terms of services, three-phase factional horsepower motors are the largest segment. Three-phase fractional horsepower motors find applications in a wide range of industrial processes, similar to their single-phase counterparts. Common applications include pumps, fans, blowers, conveyors, and other machinery where smaller amounts of power are sufficient.
- By Application Analysis
Based on application, the market can be divided into automotive, pulp and paper, water and waste water treatment, HVAC, and others.
In terms of services, automotive is the largest segment. Industrial fractional horsepower motors find various applications in the automotive industry, playing a crucial role in powering different components and systems.
Driving Factors
"Industrial Automation and Robotics Growth has Increased Demand in the Market"
The increasing adoption of automation and robotics across industries drives the demand for compact and efficient fractional horsepower motors. These motors are essential components in automated systems, powering conveyors, robotic arms, and other machinery. Industrial automation plays a significant role in driving the demand for Industrial Fractional Horsepower Motors (FHP Motors). The integration of automation technologies in industrial processes leads to increased efficiency, precision, and control, and FHP motors are key components in various automated systems. As industrial automation continues to advance, the demand for efficient and reliable fractional horsepower motors is likely to grow. These motors are critical components in the machinery and systems that drive the automation of industrial processes, contributing to increased productivity and reduced operational costs.
"Energy Efficiency Regulations have Influenced the Demand in the Market"
Stringent energy efficiency regulations and a growing focus on sustainability propel the demand for energy-efficient motors. Industrial fractional horsepower motors that meet or exceed these standards are sought after, as businesses aim to reduce energy consumption and environmental impact. Energy efficiency requirements are a key driver for the Industrial Fractional Horsepower Motors (FHP Motors) market. Governments, regulatory bodies, and industries around the world are increasingly emphasizing energy conservation and sustainability. This focus on energy efficiency has a direct impact on the demand for motors, including fractional horsepower motors. In this way this factor resulted in Industrial Fractional Horsepower Motors market growth.
Restraining Factor
"Cost Sensitivity lead to a Declining Trend in the Market"
Industries, especially in cost-sensitive sectors, may prioritize lower initial costs over energy efficiency. The perception of fractional horsepower motors as more expensive compared to standard motors can be a restraining factor, particularly if the benefits of energy savings are not immediately apparent. As a consequence, there will be a declining trend in the market.
Industrial Fractional Horsepower Motors Market Regional Insights
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"North America Region Dominates the Market owing to Industrial Infrastructure"
North America has the largest Industrial Fractional Horsepower Motors market share as it has a well-developed industrial infrastructure, with a diverse range of manufacturing sectors. Industries such as automotive, aerospace, electronics, and machinery require FHP motors for various applications, contributing to a substantial market presence. The region is known for its strong focus on technological innovation. This emphasis on research and development leads to the creation of advanced and efficient motor technologies, including FHP motors, making North American products competitive in the global market. North America has implemented stringent energy efficiency standards and regulations, promoting the adoption of energy-efficient motors, including FHP motors. The emphasis on sustainability and compliance with environmental standards further drives the demand for efficient motor solutions.
Key Industry Players
"Key Players Focus on Product Design and Research & Development for Market Expansion"
Key players in the Industrial Fractional Horsepower Motors market refer to prominent companies or manufacturers that have a significant impact on the industry. These companies are often leaders in terms of market share, technological innovation, and product offerings. Key players play a crucial role in shaping the competitive landscape and influencing market trends. Key players invest heavily in research and development to innovate and improve the efficiency, performance, and features of FHP motors. They often introduce new technologies and designs to stay competitive and meet evolving market demands. Maintaining high-quality standards is crucial for key players. This involves rigorous quality control processes throughout the manufacturing and testing phases to ensure that their FHP motors meet industry standards and customer expectations. Key players often engage in strategic initiatives to expand their market presence. This can include entering new geographic regions, forming partnerships, and acquiring or merging with other companies to strengthen their position in the market.
List of Market Players Profile
- WEG(Switzerland)
- Nidec(Japan)
- Brose(Germany)
- Bosch(Germany)
- ABB(Switzerland)
INDUSTRIAL DEVELOPMENT
January 2021: The adoption of advanced materials, including high-performance alloys and composites, has led to the development of lightweight and durable fractional horsepower motors. This trend aligns with the broader goal of improving the overall performance and efficiency of these motors.
Report Coverage
The report brings together extensive research on the qualitative and quantitative factors affecting the market. It gives an overall macro and micro view of the online reputation service industry. This research profiles a report with extensive studies on the online reputation management services market that describe the firms affecting the forecasting period. Detailed studies also offer a comprehensive analysis by inspecting factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others.
Furthermore, the post-COVID-19 pandemic’s effect on international market restrictions and a deep understanding of how the industry will recover and strategies are also stated in the report. Finally, the competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 8706.5 Million in 2022 |
Market Size Value By |
US$ 11784.7 Million by 2032 |
Growth Rate |
CAGR of 3.1% from 2022 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global Industrial Fractional Horsepower Motors market expected to touch by 2032?
The global Industrial Fractional Horsepower Motors market is expected to touch USD 11784.7 million by 2032.
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What CAGR is the Industrial Fractional Horsepower Motors market industry expected to exhibit during 2032?
The global Industrial Fractional Horsepower Motors market is expected to exhibit a CAGR of 3.1% over 2032.
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What are the factors which help in pushing the market?
Industrial automation and robotics growth and energy efficiency regulations are the driving factors of the market.
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What are the key Industrial Fractional Horsepower Motors market segments?
The key market segmentation that you should be aware of, which includes, Based on type the Industrial Fractional Horsepower Motors market is classified as three-phase factional horsepower motors and single-phase fractional horsepower motors. Based on application the Industrial Fractional Horsepower Motors market is classified as automotive, pulp and paper, water and waste water treatment, HVAC, and others.