The market size volume for Universal AC/DC Motors of an output superior to 37.5 W in Lithuania stood at 29,330 units in 2023. Between 2013 and 2023, the market demonstrated fluctuating growth. The most significant increase was from 2015 to 2016 with a 27.92% rise. After slight declines in 2019 and 2020, the market returned to growth, marked by a 9.77% increase in 2021. Over the past five years, a Compound Annual Growth Rate (CAGR) of 1.45% highlights moderate and stable growth.
Future trends to watch for include:
- The potential impact of increasing energy efficiency regulations.
- Acceleration in demand due to the adoption of automation and electric vehicles.
- Technological advancements enhancing motor efficiency and performance.
