Press release
Fractional Horsepower (FHP) Motors Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Fractional Horsepower (FHP) Motors Market
The Business Research Company offers in-depth market insights through Fractional Horsepower (FHP) Motors Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The fractional horsepower (fop) 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 growth in the historic period can be attributed to rise in consumer electronics demand, growth in automotive industry, expansion of HVAC and refrigeration sectors, automation in industrial processes, development of home appliances.
The fractional horsepower (fop) 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 growth in the forecast period can be attributed to rapid advancements in electric vehicles (EVs), increased focus on energy efficiency, IoT integration in appliances and devices, growth in robotics and automation, expanding role in renewable energy system. Major trends in the forecast period include increasing automation in industries, growing emphasis on energy efficiency, expanding applications in HVAC systems, technological advancements in motor design, focus on motor miniaturization.
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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
Major Driver - Eco-Conscious Consumers Drive Surge In Demand For Fractional Horsepower (FHP) Motors
The rise in consumer awareness about eco-friendly products is expected to propel the growth of the fractional horsepower (FHP) motor market. The changing climate and harmful environmental impacts have led to an increase in awareness of eco-friendly products. Fractional horsepower motors operate on very little power and are energy-efficient motors that save a lot of energy and do not have a harmful impact on the environment. For instance, according to the Global Buying Green Report (2021), a survey report by Trivium Packaging, conducted among more than 15,000 end consumers across Europe, North America, and South America, revealed that 67% of the consumers found themselves environmentally aware, and 73% of consumers were willing to pay more for eco-friendly packaging of products. Therefore, awareness regarding environmentally friendly products will drive the demand for the fractional horsepower (FHP) motor market.
Competitive Landscape:
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., 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.
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Top Trend - Energizing Innovation With New Electric Motor In The Fractional Horsepower Motor Market
Major companies operating in the fractional horsepower (FHP) motor market are developing new products such as electric motor to gain a competitive edge in the market. An electric motor is a device that converts electrical energy into mechanical energy through the interaction of electric currents and magnetic fields. For instance, in July 2022, WEG S.A. is a Brazil-based company that operates in the electric engineering, power, and automation technology sectors, launched W12. The new W12 electric motor offers efficiency and versatility and is intended for use in higher performance industrial applications. The lightest weight durable motor available is the W12 motor, which makes installation and transportation simpler. The motor offers consumers enhanced performance and dependability by being built to suit the needs of industrial applications. The WEG fully interchangeable product line includes the W12 motor, guaranteeing ease of use and adaptability for a wide range of applications.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Fractional Horsepower (FHP) Motors Market Characteristics
3. Fractional Horsepower (FHP) Motors Market Trends And Strategies
4. Fractional Horsepower (FHP) Motors Market - Macro Economic Scenario
5. Fractional Horsepower (FHP) Motors Market Size And Growth
…..
27. Fractional Horsepower (FHP) Motors Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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