DC Motor Market

The global DC motor market is forecasted to see steady growth from 2022 to 2030, with market volume increasing to 5.5B units and market value reaching $340B. Consumption, production, import, and export trends are analyzed, with key countries like China, the United States, and India leading in consumption and production volumes. Electric motors are the most commonly exported type, with China being the largest exporter. The average export price is on the rise, indicating a positive growth trend for the global DC motor market.

Market Forecast

Driven by increasing demand for DC motors worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.6% for the period from 2022 to 2030, which is projected to bring the market volume to 5.5B units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market value to $340B (in nominal prices) by the end of 2030.

Consumption

World Consumption of DC Motors

In 2022, approx. 4.5B units of DC motors were consumed worldwide; falling by -3% on the previous year. The total consumption volume increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption reached the peak volume at 4.6B units in 2021, and then reduced slightly in the following year.

The global DC motor market value stood at $261.3B in 2022, almost unchanged from the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +62.7% against 2017 indices. Over the period under review, the global market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (567M units), the United States (408M units) and India (399M units), with a combined 31% share of global consumption. Mexico, the Netherlands, Indonesia, Germany, the Czech Republic, Vietnam, the Philippines, Japan, Brazil and Hong Kong SAR lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the Netherlands (with a CAGR of +26.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the Philippines ($35.4B) led the market, alone. The second position in the ranking was taken by Mexico ($8.4B). It was followed by China.

In the Philippines, the DC motor market increased at an average annual rate of +17.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mexico (+5.1% per year) and China (+2.8% per year).

The countries with the highest levels of DC motor per capita consumption in 2022 were Hong Kong SAR (15 units per person), the Czech Republic (14 units per person) and the Netherlands (11 units per person).

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +25.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of DC Motors

In 2022, the amount of DC motors produced worldwide declined to 3.3B units, shrinking by -5.7% on 2021. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 91% against the previous year. Global production peaked at 3.6B units in 2019; however, from 2020 to 2022, production failed to regain momentum.

In value terms, DC motor production fell modestly to $250.6B in 2022 estimated in export price. In general, the total production indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +68.9% against 2017 indices. The growth pace was the most rapid in 2018 with an increase of 36% against the previous year. Over the period under review, global production hit record highs at $261.5B in 2021, and then reduced in the following year.

Production By Country

The country with the largest volume of DC motor production was China (2B units), comprising approx. 61% of total volume. Moreover, DC motor production in China exceeded the figures recorded by the second-largest producer, India (166M units), more than tenfold. The third position in this ranking was taken by Japan (139M units), with a 4.3% share.

In China, DC motor production contracted by an average annual rate of -1.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+9.9% per year) and Japan (+3.2% per year).

Imports

World Imports of DC Motors

In 2022, after two years of growth, there was significant decline in purchases abroad of DC motors, when their volume decreased by -9.9% to 5.2B units. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 23%. As a result, imports attained the peak of 5.8B units, and then declined in the following year.

In value terms, DC motor imports reduced modestly to $32.8B in 2022. The total import value increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 17%. As a result, imports reached the peak of $33.2B, and then fell slightly in the following year.

Imports By Country

The purchases of the twelve major importers of DC motors, namely China, Hong Kong SAR, the United States, Germany, Mexico, Thailand, India, Austria, the Netherlands, South Korea, the Czech Republic and Vietnam, represented more than two-thirds of total import. Malaysia (107M units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +38.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest DC motor importing markets worldwide were the United States ($5.6B), Germany ($3.4B) and China ($2.6B), together accounting for 35% of global imports. Mexico, South Korea, the Czech Republic, Thailand, the Netherlands, Hong Kong SAR, India, Austria, Vietnam and Malaysia lagged somewhat behind, together comprising a further 27%.

In terms of the main importing countries, Vietnam, with a CAGR of +16.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

In 2022, electric motors (3.6B units) represented the key type of DC motors, making up 81% of total imports. It was distantly followed by electric motors and generators (846M units), constituting a 19% share of total imports.

Imports of electric motors decreased at an average annual rate of -3.4% from 2012 to 2022. At the same time, electric motors and generators (+5.5%) displayed positive paces of growth. Moreover, electric motors and generators emerged as the fastest-growing type imported in the world, with a CAGR of +5.5% from 2012-2022. From 2012 to 2022, the share of electric motors and generators increased by +10 percentage points.

In value terms, the largest types of imported DC motors were electric motors ($14.9B), electric motors and generators ($14.7B) and electric motors and generators ($2.3B), together accounting for 97% of global imports.

Among the main imported products, electric motors and generators, with a CAGR of +7.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other products experienced more modest paces of growth.

Import Prices By Type

The average DC motor import price stood at $6.3 per unit in 2022, increasing by 9.8% against the previous year. Overall, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 an increase of 25% against the previous year. Over the period under review, average import prices reached the maximum at $6.4 per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was electric motors and generators ($2,080 per unit), while the price for electric motors ($4.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by electric motors; of an output not exceeding 37.5W (+5.6%), while the other products experienced mixed trends in the import price figures.

Import Prices By Country

The average DC motor import price stood at $6.3 per unit in 2022, picking up by 9.8% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 an increase of 25% against the previous year. Global import price peaked at $6.4 per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($12 per unit), while Hong Kong SAR ($1.4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of DC Motors

In 2022, approx. 4B units of DC motors were exported worldwide; shrinking by -13.6% on the previous year. In general, exports recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2018 when exports increased by 95%. Over the period under review, the global exports hit record highs at 5.9B units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, DC motor exports reached $32.2B in 2022. The total export value increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 22% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports By Country

China prevails in exports structure, finishing at 2.1B units, which was approx. 52% of total exports in 2022. Hong Kong SAR (349M units) took an 8.7% share (based on physical terms) of total exports, which put it in second place, followed by Germany (7.1%) and Thailand (4.5%). The following exporters - Austria (122M units), Mexico (120M units), Switzerland (117M units), South Korea (86M units), Singapore (78M units) and Japan (62M units) - together made up 15% of total exports.

From 2012 to 2022, average annual rates of growth with regard to DC motor exports from China stood at -2.9%. At the same time, Austria (+41.9%), Japan (+4.8%), Mexico (+3.3%), Switzerland (+2.7%) and Germany (+1.3%) displayed positive paces of growth. Moreover, Austria emerged as the fastest-growing exporter exported in the world, with a CAGR of +41.9% from 2012-2022. By contrast, South Korea (-2.0%), Thailand (-4.8%), Singapore (-10.2%) and Hong Kong SAR (-13.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Austria, Germany and Mexico increased by +4.5, +3, +2.9 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($7.8B) remains the largest DC motor supplier worldwide, comprising 24% of global exports. The second position in the ranking was taken by Germany ($3.4B), with a 10% share of global exports. It was followed by Mexico, with a 7.1% share.

In China, DC motor exports expanded at an average annual rate of +5.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+2.6% per year) and Mexico (+8.7% per year).

Exports By Type

In 2022, electric motors (3.1B units) represented the largest type of DC motors, creating 80% of total exports. It was distantly followed by electric motors and generators (720M units), comprising a 19% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to electric motors exports of stood at -5.3%. At the same time, electric motors and generators (+4.9%) displayed positive paces of growth. Moreover, electric motors and generators emerged as the fastest-growing type exported in the world, with a CAGR of +4.9% from 2012-2022. From 2012 to 2022, the share of electric motors and generators increased by +11 percentage points.

In value terms, electric motors ($14.8B), electric motors and generators ($13.6B) and electric motors and generators ($3.2B) constituted the products with the highest levels of exports in 2022, with a combined 98% share of global exports.

In terms of the main exported products, electric motors and generators, with a CAGR of +9.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced more modest paces of growth.

Export Prices By Type

In 2022, the average DC motor export price amounted to $8 per unit, rising by 17% against the previous year. Overall, the export price continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 105%. The global export price peaked at $10 per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was electric motors and generators ($3,816 per unit), while the average price for exports of electric motors ($4.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by electric motors; of an output not exceeding 37.5W (+7.4%), while the other products experienced more modest paces of growth.

Export Prices By Country

The average DC motor export price stood at $8 per unit in 2022, rising by 17% against the previous year. Overall, the export price recorded a resilient increase. The pace of growth was the most pronounced in 2015 when the average export price increased by 105% against the previous year. The global export price peaked at $10 per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($30 per unit), while Hong Kong SAR ($1.7 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+12.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform