The new report by Expert Market Research titled, ‘India Electric Motor Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the India electric motor market, assessing the market based on its segments like types, voltages, rated power, weights, speeds, magnet types, applications, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): INR 86.5 Billion
• Forecast CAGR (2020-2025): 11%
The growing industrialisation and increasing construction activities have propelled the growth of the India electric motors market. With the rapidly growing population, an increasing drive towards reducing carbon emissions, and conserving energy by the government has rapidly gained pace. The government of India is encouraging the expansion of this market by introducing initiatives like Make in India, Smart City Mission, AMRUT, affordable housing, and others. The rising disposable incomes of people has allowed potential customers to increase their purchasing power. The increased technological advancements and the rapid growth of the automotive industry aided by a rise in demand for vehicles are driving the India electric motors market growth.
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Industry Definition and Major Segments
An electric motor refers to a machine that is used for the transformation of electric energy into mechanical energy. The interaction between the magnetic field of the motor and the electric current in the wire winding is the feature of most electric motors, which produce torque in the form of an engine torque. The market, by type, can be divided into:
• AC Motor
o Induction AC Motors
o Synchronous AC Motor
• DC Motor
o Brushed DC Motor
o Brushless DC Motor
AC Motors accounted for the majority market share.
By voltage, the market can be segmented into:
• Low Voltage
• Medium Voltage
• High Voltage
The segments based on rated power are:
• Fractional Horsepower Motors
• Integral Horsepower Motors
On the basis of magnet type, the industry is divided into:
• Neodymium (NdFeB)
• Samarium Cobalt (SmCo5 and Sm2Co17)
The industry is segmented by weight into:
On the basis of speed, the industry is categorised into:
• Ultra-High Speed
• High Speed
• Medium Speed
• Low Speed
By application, the industry can be divided into:
• Mechanical Movement
The end use sectors for the industry include:
The regional markets in the industry in India include:
The key market trend providing impetus to the India electric motor market is the governmental shift in focus towards adopting energy-efficient motors. The introduction of initiatives such as Make in India has guided the market growth in the subcontinent. The rising demand for infrastructure development in these countries has also propelled market growth. The rapidly expanding automotive industry and rapid technological advancements are the major driving forces for the market growth. Further, the industry efficiency standards, set by government, have favoured an increase in the usage of energy efficient motors, further pushing the market growth.
Key Market Players
The major players in the market are Hindustan Electric Motors, ABB India Limited (NSE: ABB), Siemens Limited (NSE: SIEMENS), Bharat Heavy Electricals Ltd (BHEL) (NSE: BHEL), Kirloskar Electric Company(NSE: KECL), Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC), Marathon Electric India, Bharat Electric Motors, and Bharat Bijlee Limited (NSE: BBL), among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
Note 2: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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