China's DC Motor Market to Witness 10.6% CAGR, Reaching 1.3B units by 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: China - Motors Of An Output Not Exceeding 37.5 W; Other Dc Motors And Dc Generators - Market Analysis, Forecast, Size, Trends and Insights.

The article discusses the increasing demand for DC motors in China, with the market expected to experience an upward trend over the next decade. It forecasts a CAGR of +10.6% in market volume, reaching 1.3B units by 2035, and a CAGR of +10.7% in market value, reaching $8.2B by the end of 2035.

Driven by rising demand for DC motor in China, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +10.6% for the period from 2024 to 2035, which is projected to bring the market volume to 1.3B units by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +10.7% for the period from 2024 to 2035, which is projected to bring the market value to $8.2B (in nominal wholesale prices) by the end of 2035.

In 2024, consumption of DC motors decreased by -42.4% to 426M units for the first time since 2012, thus ending a eleven-year rising trend. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak volume of 740M units, and then fell notably in the following year.

The value of the DC motor market in China dropped rapidly to $2.7B in 2024, which is down by -42.3% against 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, consumption, however, saw a relatively flat trend pattern. Consumption peaked at $4.6B in 2023, and then declined remarkably in the following year.

In 2024, production of DC motors in China dropped modestly to 2.1B units, shrinking by -1.7% on the year before. Overall, production, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 284%. Production peaked at 2.2B units in 2021; however, from 2022 to 2024, production failed to regain momentum.

In value terms, DC motor production contracted to $10.3B in 2024 estimated in export price. In general, production, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 165%. Over the period under review, production attained the peak level at $10.7B in 2021; however, from 2022 to 2024, production failed to regain momentum.

In 2024, dc motor imports into China reduced to 533M units, which is down by -10.5% against 2023 figures. Over the period under review, imports recorded a deep downturn. The pace of growth was the most pronounced in 2018 with an increase of 1,031% against the previous year. Over the period under review, imports attained the peak figure at 2B units in 2013; however, from 2014 to 2024, imports stood at a somewhat lower figure.

In value terms, DC motor imports contracted to $2.1B in 2024. Overall, imports recorded a pronounced reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. As a result, imports reached the peak of $2.8B. From 2022 to 2024, the growth of imports failed to regain momentum.

In 2023, Thailand (138M units) constituted the largest DC motor supplier to China, accounting for a 23% share of total imports. Moreover, DC motor imports from Thailand exceeded the figures recorded by the second-largest supplier, Japan (59M units), twofold. Hong Kong SAR (56M units) ranked third in terms of total imports with a 9.5% share.

From 2013 to 2023, the average annual rate of growth in terms of volume from Thailand stood at -17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-13.1% per year) and Hong Kong SAR (-11.1% per year).

In value terms, the largest DC motor suppliers to China were Japan ($508M), Germany ($309M) and Switzerland ($252M), together accounting for 48% of total imports. Hong Kong SAR, Thailand, South Korea, Taiwan (Chinese), India and North Macedonia lagged somewhat behind, together comprising a further 27%.

Among the main suppliers, North Macedonia, with a CAGR of +684.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

In 2024, electric motors (504M units) was the main type of DC motors supplied to China, with a 95% share of total imports. Moreover, electric motors exceeded the figures recorded for the second-largest type, electric motors and generators (28M units), more than tenfold. The third position in this ranking was taken by electric motors and generators (795K units), with a 0.1% share.

From 2013 to 2024, the average annual growth rate of the volume of electric motors imports totaled -11.4%. With regard to the other supplied products, the following average annual rates of growth were recorded: electric motors and generators (-5.3% per year) and electric motors and generators (+15.8% per year).

In value terms, electric motors ($1.2B), electric motors and generators ($771M) and electric motors and generators ($74M) appeared to be the most imported types of DC motors in China, with a combined 98% share of total imports. Electric motors and generators and electric motors and generators lagged somewhat behind, together accounting for a further 1.7%.

Electric motors and generators, with a CAGR of +14.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main product categories over the period under review, while purchases for the other products experienced more modest paces of growth.

In 2024, the average DC motor import price amounted to $4 per unit, growing by 5.7% against the previous year. In general, the import price saw a resilient increase. The most prominent rate of growth was recorded in 2015 an increase of 1,650%. Over the period under review, average import prices reached the maximum at $29 per unit in 2016; however, from 2017 to 2024, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplied products. In 2024, the product with the highest price was electric motors and generators ($4.6 thousand per unit), while the price for electric motors ($2.4 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by electric motors and generators; DC, of an output not exceeding 750W (+8.3%), while the prices for the other products experienced more modest paces of growth.

In 2023, the average DC motor import price amounted to $3.7 per unit, declining by -2.1% against the previous year. Over the period under review, the import price, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2015 when the average import price increased by 1,650%. The import price peaked at $29 per unit in 2016; however, from 2017 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($47 per unit), while the price for Thailand ($1.5 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+26.6%), while the prices for the other major suppliers experienced more modest paces of growth.

In 2024, after two years of decline, there was significant growth in overseas shipments of DC motors, when their volume increased by 11% to 2.2B units. Over the period under review, exports, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 4,667%. Over the period under review, the exports hit record highs at 2.8B units in 2013; however, from 2014 to 2024, the exports stood at a somewhat lower figure.

In value terms, DC motor exports expanded remarkably to $7.9B in 2024. Overall, total exports indicated a noticeable expansion from 2013 to 2024: its value increased at an average annual rate of +4.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 31% against the previous year. The exports peaked in 2024 and are likely to see gradual growth in the immediate term.

Hong Kong SAR (217M units), the Netherlands (188M units) and India (179M units) were the main destinations of DC motor exports from China, together comprising 29% of total exports.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +28.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for DC motor exported from China were the United States ($967M), Japan ($624M) and Germany ($438M), with a combined 28% share of total exports. South Korea, Mexico, Hong Kong SAR, Thailand, Vietnam, the Netherlands and India lagged somewhat behind, together comprising a further 34%.

Vietnam, with a CAGR of +29.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Electric motors (1.8B units) was the largest type of DC motors exported from China, accounting for a 82% share of total exports. Moreover, electric motors exceeded the volume of the second product type, electric motors and generators (390M units), fivefold. The third position in this ranking was held by electric motors and generators (18M units), with a 0.8% share.

From 2013 to 2024, the average annual growth rate of the volume of electric motors exports totaled -3.0%. With regard to the other exported products, the following average annual rates of growth were recorded: electric motors and generators (+6.1% per year) and electric motors and generators (+10.4% per year).

In value terms, electric motors and generators ($3.8B), electric motors ($3.4B) and electric motors and generators ($677M) were the most exported types of DC motors from China worldwide, together accounting for 99% of total exports.

Electric motors and generators, with a CAGR of +8.2%, recorded the highest growth rate of the value of exports, among the main product categories over the period under review, while shipments for the other products experienced more modest paces of growth.

In 2024, the average DC motor export price amounted to $3.6 per unit, reducing by -1.5% against the previous year. Overall, the export price, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2015 an increase of 5,218% against the previous year. Over the period under review, the average export prices reached the peak figure at $117 per unit in 2017; however, from 2018 to 2024, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major types of exported product. In 2024, the product with the highest price was electric motors and generators ($7 thousand per unit), while the average price for exports of electric motors ($1.9 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: electric motors; of an output not exceeding 37.5W (+5.1%), while the prices for the other products experienced mixed trend patterns.

The average DC motor export price stood at $3.6 per unit in 2023, dropping by -3.6% against the previous year. Overall, the export price, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2015 an increase of 5,218% against the previous year. Over the period under review, the average export prices reached the peak figure at $117 per unit in 2017; however, from 2018 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($7.3 per unit), while the average price for exports to Hong Kong SAR ($1.6 per unit) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the dc motor market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles