The fractional horsepower (fop) motors market has shown significant growth, increasing from $14.72 billion in 2023 to $15.81 billion in 2024 at a CAGR of 7.4%. The market is projected to reach $20.97 billion by 2028, driven by the automotive, HVAC, and consumer electronics sectors. Future growth will be influenced by advancements in electric vehicles, energy efficiency, and IoT integration. Key trends include automation in industries, energy-efficient motor designs, and motor miniaturization.
Major Driver In The Fractional Horsepower FHP Motors Market
The growth of the fractional horsepower (FHP) motor market is anticipated to be fueled by the increasing consumer awareness of eco-friendly products. The changing climate and growing concerns about environmental impacts have heightened awareness, particularly in relation to eco-friendly products. Fractional horsepower motors, known for their energy efficiency and minimal environmental impact, operate on minimal power. As highlighted in the Global Buying Green Report (2021) by Trivium Packaging, which surveyed over 15,000 consumers across Europe, North America, and South America, 67% of respondents identified as environmentally aware, with 73% expressing a willingness to pay more for products with eco-friendly packaging. This surge in awareness is expected to drive demand for fractional horsepower (FHP) motors in 2023, 2024, and 2028.
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Fractional Horsepower FHP Motors Market Competitive Landscape
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., Emacon Power Pvt. Ltd., Empre 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.
Key Fractional Horsepower FHP Motors Market Trend
Product innovation is a significant trend in the fractional horsepower (FHP) motor market. Companies are focusing on developing advanced products to strengthen their market position. For instance, in September 2021, Kirloskar Brothers Limited (KBL), an India-based pump manufacturer, introduced the NEO Series 4-in borewell submersible pumps. This series features NEMA couplings and a high-torque motor with a wide voltage range from 180–240 volts, protecting against motor burnouts due to voltage fluctuations. The NEO Series 4-in pump includes a water-cooled motor that enhances discharge by 30%, extends pump life by 60%, and reduces electricity use by 60%.
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Fractional Horsepower FHP Motors Market Segmentation
The fractional horsepower (FHP) motors market covered in this report is segmented –
1) By Motor Type: AC, DC
2) By Product Type: Brushed, Brushless
3) By Phase: Single-Phase, Three-Phase
4) By Application: Automotive, HVAC, Medical Equipment, Home Appliance, Other Applications
By Geography:The regions 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.
Asia-Pacific was the largest region in the fractional horsepower (FHP) motor market in 2023.
The Fractional Horsepower FHP Motors Global Market Report 2024 furnishes information about the global fractional horsepower fhp motors market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
