Direct Current (DC) Motor Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 535.57 Million |
| Market Size (2029) | USD 508.24 Million |
| CAGR (2024 - 2029) | -1.04 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Direct Current (DC) Motor Market Analysis
The Direct Current Motor Market size is estimated at USD 535.57 million in 2024, and is expected to decline to USD 508.24 million by 2029.
Increasing industrial automation drives the demand for DC motors, which play a vital role in automated systems by providing precise control and reliable performance. Labor shortages in emerging countries are leading to the adoption of robotics in the manufacturing industry, which is also creating demand for different types of DC motors, such as shunt motors, separately excited motors, and compound motors.
- DC motors are widely used in automobile systems for wiper motors, power seat motors, power window motors, and HVAC systems. Additionally, the growing adoption of electric vehicles is expected to support the market's growth during the forecast period. The automotive sector has witnessed a significant increase in daily units produced.
- Owing to the rising importance of occupational safety in the global regions, the government has mandated quality air management as industries such as oil and gas, mining, power generation, chemicals, and petrochemicals often involve harsh and explosive atmospheres. Thus, HVAC systems aid in creating a safe working environment by managing and controlling air circulation. With HVAC systems turning out to be an integral part of the industrial sector, DC motors are also able to create a generous demand as they are used in HVAC systems' blower motors, variable speed drives, and AHUs to achieve high efficiency in airflow systems along with in maximizing their lives.
- The automotive industry has rapidly introduced pollution-free electric vehicles (EVs). The development and improvement of EVs to replace conventional vehicles has become crucial to obtaining customer satisfaction and high-tech achievements. As per the IEA, electric vehicles are one of the driving forces in the new global energy economy that is rapidly emerging, and they are bringing about a historic transformation of the car manufacturing industry worldwide.
- Several obstacles are preventing the widespread use of DC motors. The main challenges revolve around the associated expenses, including energy costs, maintenance costs, and initial purchase costs. This is because the wound rotor and commutator of a DC motor are quite a bit more complicated than the rotor of an induction motor. They are made out of copper and iron rather than aluminum and iron. The heavier rotor of the DC motor may require more expensive bearings.
- The impact of the COVID-19 pandemic was observed on the market as various containment measures taken by governments across multiple countries, such as the implementation of lockdown, significantly impacted the growth of the industrial sector. As a result, a slowdown was witnessed in the studied market, especially during the initial phase, due to supply chain issues. However, with significant end-user industries resuming operations at total capacity, the demand for smart DC motors is anticipated to increase.
Direct Current (DC) Motor Market Trends
The Oil and Gas Segment is Expected to Witness Major Growth
- Electric motors are crucial in oil and gas by delivering a steady and dependable power source to drill rig systems and equipment. DC motors are specifically utilized to ensure a consistent and reliable power supply to drilling rig systems and equipment. These motors are instrumental in supporting various operations, such as extracting, processing, storing, and transporting commodities like crude oil, petroleum, and natural gas.
- Oil and natural gas extraction from reservoirs in the oil and gas sector relies on drilling rig equipment for both onshore and offshore drilling activities. These drilling rigs extensively utilize DC motors as their power source. These DC motors are designed to withstand the challenging conditions commonly found in oil and gas settings, such as vibration, extreme temperatures, frequent impacts, and corrosive environments. Because of their exceptional performance, the utilization of DC electric motors in onshore oil and gas industries has notable significance.
- The International Energy Agency (IEA) has projected that global oil and gas demand will peak by 2030 despite the existing policy settings. According to the IEA, there will be an approximate increase of eight million barrels per day (bpd) in global demand by the decade's end, leading to a more significant requirement for offshore activities. Consequently, there is an anticipated surge in the market for AC motors due to the growth in offshore operations and investments. These motors are utilized in various offshore applications, including powering winches and windlasses, cement pumps, propulsion, and thrusters.
- DC motors are highly suitable for offshore drilling activities because they provide variable speeds to essential equipment such as mud pumps, draw works, rotary tables, and top drives. Offshore drilling rigs play a significant role in the global oil rig count, with 272 active rigs across the world in November 2023, over 91 of which are located in Asia-Pacific, as reported by Baker Hughes. The renewed search for offshore petroleum is driven by a combination of factors, including increased global energy demand, supply disruptions caused by the conflict in Ukraine, and crude oil prices that have remained elevated compared to pre-pandemic levels.
Asia-Pacific is Expected to Witness Significant Growth
- The Chinese DC motor market is poised for significant growth in the coming years. Several factors drive the market, including the increasing demand for EVs, the growing automation in the Chinese manufacturing sector, and the rising demand for consumer electronics in China.
- In China, smart manufacturing endeavors are anticipated to facilitate the utilization of industrial DC motors. The Ministry of Information Technology has reported initiating numerous smart manufacturing pilot projects in the country. Furthermore, as outlined in the 13th smart manufacturing five-year plan, the government intends to enhance its smart manufacturing system and achieve a comprehensive transformation of key industries by 2025. Such initiatives are expected to drive the adoption of DC motors across the country's sectors.
- With the rapid growth of India's population and its industrial sector, there has been a significant increase in the volume of wastewater. This alarming rise has prompted the country's need for wastewater treatment plants. The rising demand for nationwide municipal and sewage water treatment facilities primarily drives the growth. Water treatment plants heavily rely on pump and motor systems to efficiently and effectively move water through the treatment process. Consequently, the increasing demand for these treatment plants nationwide will also drive the demand for DC motors.
- Moreover, the market's expansion in this area is primarily due to technical advancements and the increased usage of automation technologies across various end-user industries. Other significant factors driving the demand for DC motors in the country include rapid urbanization, complementary technical improvements, favorable government regulations, and robust FDI inflows.
Direct Current (DC) Motor Industry Overview
The direct current (DC) motor market is fragmented and is witnessing rising competitiveness among companies. The market consists of major players, such as ABB Ltd, AMETEK Inc. (Dunkermotoren GmbH), Johnson Electric Holdings Limited, Nidec Corporation, and Siemens AG. In terms of market share, these significant players currently dominate the market. However, with increasing technology innovations, many companies are increasing their market presence by securing new contracts and tapping new markets.
- December 2023 - Franklin Electric Co. Inc., which offers motors, drives, and controls for residential, commercial, agricultural, and industrial applications, announced that it had acquired the assets of Action Manufacturing & Supply Inc., a provider of control valves for commercial and industrial applications. This acquisition helps the company strengthen and expand its channels and products for water treatment in critical geographic areas.
- July 2023 - Nidec Corporation announced that it acquired full ownership of TAR, LLC d/b/a Houma Armature Works. This service partner remanufactures motors and generators and provides field service to oil and gas producers operating out of Louisiana and Texas. Through this acquisition, NMC will be able to enhance its service offering, including expanding its share within its own US installed base. Houma will be able to provide services to NMC's customers.
Direct Current (DC) Motor Market Leaders
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ABB Ltd
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AMETEK Inc. (Dunkermotoren GmbH)
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Johnson Electric Holdings Limited
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Nidec Corporation
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Siemens AG
*Disclaimer: Major Players sorted in no particular order
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Direct Current (DC) Motor Market News
- September 2023: Allient Inc. announced the acquisition of Sierramotion Inc., a privately owned company specializing in designing and engineering turn-key motion components and mechatronic solutions for medical, robotic, defense, industrial, semiconductor, and other precision applications. The acquisition will advance the integrated motion solutions strategy and enable the company to reach the targeted end markets.
- July 2023: Dunkermotoren, a brand of AMETEK, certified the EtherNet/IP Industrial Ethernet interface. EtherNet/IP is available for all DC servo motors with dPro functionality and the BGE 5510 external control electronics. Owing to the EtherNet/IP certification, motors from Dunkermotoren can easily be integrated into EtherNet/IP networks and work seamlessly with Rockwell Automation controllers.
Direct Current (DC) Motor Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Impact of the COVID-19 Pandemic's After effects and Other Macroeconomic Factors on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising Adoption of Brushless DC Motor
5.1.2 Growing Prevalence of Electric Vehicles
5.2 Market Challenges
5.2.1 High Cost of Maintenance
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Permanent Magnet and Self-Excited
6.1.2 Separately Excited
6.2 By End-user Industry
6.2.1 Oil and Gas
6.2.2 Chemical and Petrochemical
6.2.3 Power Generation
6.2.4 Water and Wastewater
6.2.5 Metal and Mining
6.2.6 Food and Beverage
6.2.7 Discrete Industries
6.2.8 Other End-user Industries
6.3 By Geography
6.3.1 North America
6.3.1.1 United States
6.3.1.2 Canada
6.3.2 Europe
6.3.2.1 United Kingdom
6.3.2.2 Germany
6.3.2.3 France
6.3.2.4 Italy
6.3.2.5 Rest of Europe
6.3.3 Asia-Pacific
6.3.3.1 China
6.3.3.2 India
6.3.3.3 Japan
6.3.3.4 South Korea
6.3.3.5 Rest of Asia-Pacific
6.3.4 Latin America
6.3.4.1 Brazil
6.3.4.2 Mexico
6.3.4.3 Rest of Latin America
6.3.5 Middle East and Africa
6.3.5.1 Saudi Arabia
6.3.5.2 United Arab Emirates
6.3.5.3 South Africa
6.3.5.4 Rest of Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 ABB Ltd
7.1.2 AMETEK Inc. (Dunkermotoren GmbH)
7.1.3 Johnson Electric Holdings Limited
7.1.4 Nidec Corporation
7.1.5 Siemens AG
7.1.6 Franklin Electric
7.1.7 Allied Motion Technologies Inc.
7.1.8 Regal Rexnord Corporation
7.1.9 North American Electric Inc.
7.1.10 Maxon
7.1.11 Buhler Motor GmbH
7.1.12 MinebeaMitsumi Inc.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Direct Current (DC) Motor Industry Segmentation
Any group of rotating electric motors that use direct current to produce mechanical energy are known as DC motors. The most prevalent varieties rely on the forces generated by induced magnetic fields due to current passing through the coil.
The direct current (DC) motor market is segmented by type (permanent magnet and self-excited, separately excited), end-user industry (oil and gas, chemical and petrochemical, power generation, water and wastewater, metal and mining, food and beverages, discrete industries, and other end-user industries), and geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | |
| Permanent Magnet and Self-Excited | |
| Separately Excited |
| By End-user Industry | |
| Oil and Gas | |
| Chemical and Petrochemical | |
| Power Generation | |
| Water and Wastewater | |
| Metal and Mining | |
| Food and Beverage | |
| Discrete Industries | |
| Other End-user Industries |
| By Geography | |||||||
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Direct Current (DC) Motor Market Research FAQs
What is the current Direct Current Motor Market size?
In 2024, the Direct Current Motor Market size is expected to reach USD 535.57 million.
Who are the key players in Direct Current Motor Market?
ABB Ltd, AMETEK Inc. (Dunkermotoren GmbH), Johnson Electric Holdings Limited, Nidec Corporation and Siemens AG are the major companies operating in the Direct Current Motor Market.
Which is the fastest growing region in Direct Current Motor Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Direct Current Motor Market?
In 2024, the Asia Pacific accounts for the largest market share in Direct Current Motor Market.
What years does this Direct Current Motor Market cover, and what was the market size in 2023?
In 2023, the Direct Current Motor Market size was estimated at USD 541.14 million. The report covers the Direct Current Motor Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Direct Current Motor Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Direct Current (DC) Motor Industry Report
Statistics for the 2024 Direct Current (DC) Motor market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Direct Current (DC) Motor analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Direct Current (DC) Motor Market Report Snapshots
