Fractional Horsepower (FHP) Motors Global Market Report 2023
Major players in the fractional horsepower (FHP) motors market are Johnson Electric Holdings Limited, AMETEK Inc., ABB Group, NIDEC Corporation, Allied Motion Inc., Rockwell Automation Inc., Toshiba International Corporation, BorgWarner Inc.
New York, March 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fractional Horsepower (FHP) Motors Global Market Report 2023" - https://www.reportlinker.com/p06433789/?utm_source=GNW , DENSO Corporation, Robert Bosch GmbH, Brook Crompton, Schneider Electric, OMRON Corporation, Danaher Corporation, and General Electric.The global fractional horsepower (FHP) motors market grew from $13.74 billion in 2022 to $14.78 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The fractional horsepower (FHP) motors market is expected to grow to $19.05 billion in 2027 at a CAGR of 6.6%.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.Fractional horsepower motors are small motors with a power rating of less than one horsepower, or a fraction.The fractional horsepower (FHP) motor is used to drive pumps and compressors in refrigerators, coffee machines, washing machines, and other machines.The size of the frame and the total fractional horsepower of the motor are typically used to classify FHP motors.Due to their tiny design, fractional horsepower motors are an excellent resource in a variety of businesses, including those that manufacture domestic appliances, automobile windows, and medical instruments.Automotive engineering, heating and cooling, home appliances, agriculture, food and beverage, and personal care/hygiene are some of the industries that rely on fractional horsepower motors the most.Asia-Pacific was the largest region in the fractional horsepower (FHP) motors market in 2022. The regions covered in the fractional horsepower (FHP) motors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of fractional horsepower (FHP) motors are AC and DC.The AC fractional horsepower (FHP) motors work on an alternating current that changes the direction of electron movement back and forth regularly or in cycles.The different product types include brushed and brushless which involve various phases such as single-phase, and three-phase. The several applications include automotive, HVAC, medical equipment, home appliances, and others.The rise in consumer awareness about eco-friendly products is expected to propel the growth of the fractional horsepower 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 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 motors market.Product innovation is the key trend gaining popularity in the fractional horsepower motor market.Major companies operating in the fractional horsepower motor market are focused on developing new and advanced products to strengthen their market position.For instance, in September 2021, Kirloskar Brothers Limited (KBL), an India-based pump manufacturing company involved in the engineering and manufacturing of systems for fluid management, launched the NEO Series 4-in, a new series of borewell submersible pumps.This new series has NEMA (National Electrical Manufacturers Association) couplings and a high torque motor that offers a wide voltage range from 180–240 volts, which protects the motor from burning due to high or low voltage.The motor present in the pump ranges from 0.5 to 3 HP (horsepower). The NEO Series 4-in prevents sand from entering and safeguards the pump-set brushes. They also have a cutting-edge water-cooled motor that guarantees a 30% increase in discharge and a 60% increase in life and energy savings (a 60% reduction in electricity use).In February 2021, Nidec Corporation, a Japan-based manufacturer of electric motors, acquired Mitsubishi Heavy Industries Machine Tool Co., Ltd. for an undisclosed amount. With this acquisition, Nidec Corporation aims to expand its sales, which combines a motor, an inverter, and a reducer, and improve its ability to manufacture gears, the essential part of the traction unit. Mitsubishi Heavy Industries Machine Tool Co., Ltd. is a Japan-based firm that designs and manufactures fractional horsepower motors and water pumps.The countries covered in the fractional horsepower (FHP) motors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, USA.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.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.Read the full report: https://www.reportlinker.com/p06433789/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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