Series Motor Market size was valued at USD 1.2 Billion in 2024 and is forecasted to grow at a CAGR of 8.5% from 2026 to 2033, reaching USD 2.5 Billion by 2033.
South Korea's Series Motor Market: Types, Industrial Demands, and Future Outlook
South Korea's Series Motor Market is undergoing significant transformation, driven by the nation's aggressive push towards electrification and sustainable industrial practices. The government's initiatives, such as the National Strategy for Electric-Vehicle Ecosystem and the Renewable Portfolio Standard, are pivotal in promoting the adoption of electric motors across various sectors.
Key Motor Types and Their Industrial Applications:
AC Motors: Experiencing substantial growth due to their efficiency and widespread use in electric vehicles and industrial automation.
Brushless DC Motors: Preferred for their high performance and energy efficiency, finding applications in consumer electronics and automotive sectors.
Frameless Torque Motors: Gaining traction in specialized industrial machinery requiring compact and powerful motor solutions.
Industries are increasingly demanding motors that offer higher voltage ranges, particularly 60V and above, to meet the requirements of hybrid and electric vehicles. Medium-speed electric motors are also in demand for their suitability in industrial machinery and electric vehicles.
Government Policies Fueling Market Growth:
Implementation of the National Strategy for Electric-Vehicle Ecosystem aims to establish an eco-friendly vehicle market by 2031.
The Renewable Portfolio Standard mandates electricity suppliers to produce a certain percentage of electricity from renewable sources, indirectly boosting the electric motor market.
Substantial subsidies and grants are being provided to companies and academic institutions focusing on innovative motor technologies.
Leading Players in the Market:
Hyundai Heavy Industries Co. Ltd.
Nidec Corporation: Known for launching energy-efficient brushless DC motors and frameless torque motors.
LG Electronics
Samsung Electro-Mechanics
These companies are not only catering to domestic demands but are also significant exporters, establishing South Korea as a global hub for electric motor production.
In my professional experience, the rapid advancements in motor technologies and supportive government policies have created a conducive environment for innovation and growth in South Korea's Series Motor Market. Industries are now more inclined towards adopting advanced motor solutions that align with global sustainability goals.
Get an In-Depth Research Analysis of the South Korea Series Motor Market Size And Forecast [2025-2032]
Nidec
ABB
Eaton
Chiaphua Components
Domel
Shenzhen Dongming Motor
Groschopp
Johnson Electric
Molon Motor and Coil
Mawdsleys BER
Chiaphua Components Group
Changjincheng Electrical Appliances
SuZhou KaiHang Electromotor
Keli Motor
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Series Motor Market
AC Motors
DC Motors
Industrial Applications
Consumer Electronics
Automotive
Low Voltage Motors
Medium Voltage Motors
High Voltage Motors
Power Generation
Oil and Gas
Food and Beverage
Small Motors
Medium Motors
Large Motors
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Series Motor Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Series Motor Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Series Motor Market, By Type
6. South Korea Series Motor Market, By Application
7. South Korea Series Motor Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Series Motor Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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