India Electric Motors Market Growth Supported by Investment in Automotive Industry

According to TechSci Research report India Electric Motors Market - By Region, Competition Forecast & Opportunities, 2018-2028F, the India Electric Motors Market is expected to register robust growth during the forecast period 2024-2028. An electrical machine that transforms electrical energy into mechanical energy is called an electric motor. The majority of modern electrical motors work by creating force in the form of torque imparted to the motor shaft through the interplay of the motor's magnetic field and electric current in a wire winding. The main applications for such motors are in the industrial, agricultural, and automotive industries. However, as urbanisation and technology have advanced, so has the need for motors in both the commercial and residential sectors. Additionally, the HVAC industry has become the motor deployment industry with the quickest growth rate.

However, when operating, industrial motors with high power ratings produce a significant amount of vibration, strain, and heating, which has the potential to have a significant impact on and lead to the failure of electronic components. Additionally, it is anticipated that throughout the anticipated time, the owners of small and medium-sized businesses would not be aware of the advantages of smart motors for a variety of applications.

According to the research, India's industrial sector uses around 40% more power than the country as a whole. This accounts for more than 28% of all power used in the country. The National Motor Replacement Programmed (NMRP) of EESL aims to increase the supply of high efficiency motors in India. More than 30 large enterprises have signed contracts with Energy Efficiency Services Limited to replace more than 1,200 inefficient motors, resulting in annual energy savings of 48,16,535 kWh and CO2 emission reductions of 4,240 tCO2.

The India Electric Motors Market are segmented into Motor Type, Application, Output Power, Voltage Rating and End-User. Based on Motor Type, the market is segmented into Alternate Current (AC) Motor and Direct Current (DC) Motor.

Based on Output Power, the market is segmented into Integral Horsepower (IHP) Output and Fractional Horsepower (FHP) Output.  Due to the increasing usage of electric motors with power ranges up to 1HP for small scale businesses such paper & pulp industries, textile mills, warehouses, and other applications, the fractional horsepower (Up to 1HP) segment is anticipated to dominate the market. The integral horsepower (Above 1HP) market will get the majority of investments from big businesses.

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Based on Application, the market is segmented into Industrial, HVAC, Medical Equipment, Industrial Machinery, Home Appliances, and Others. Due to the growing investment in electric cars and the automotive industry's efforts to meet the world's carbon emission reduction objectives, it is anticipated that the motor vehicle segment will continue to lead the way. The need for industrial machinery and HVAC equipment is driven by rising industrial sector investment and soaring energy-efficient motor demand.

Based on Voltage Rating, the market is segmented into Low Voltage (Upto 690V), Medium Voltage (691V - 3300V), and High Voltage (above 3300V)). Due to rising demand from the residential and commercial sectors for home appliances including vacuum cleaners, coffee makers, refrigerators, washing machines, etc., the up to 1 kV category now commands the biggest market share. The industrial and agricultural sectors will represent the majority of the investment in the 1 kV-6.6 kV section. Due to the high-power requirements of the equipment employed, operations in the industrial and agricultural sectors typically call for large capacity motors. Additionally, it is necessary to maintain a sufficient flow of water or coolant to guarantee that the entire industrial setup and agricultural activities operate well.

Based on End-User, the market is segmented into Residential, Commercial, Industrial, and Transportation. The demand for electric motors from the automotive industry has been increasing in the transportation sector as governments across the world concentrate on developing supporting laws and regulations to raise awareness regarding the use of electric cars in their respective nations.

Major market players in the India Electric Motors Market are: -

• CG Power and Industrial Solutions Limited
• Bharat Heavy Electricals Limited
• ABB India Limited
• Siemens Limited
• GE Power India Limited
• Bharat Bijlee Limited
• Kirloskar Electric Company Limited
• Marathon Electric India Private Limited
• WEG Industries India Private Limited.

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“In India, there has been a significant rise in the demand for electric motors. The expansion of the electric motor industry as well as the rise in industrial output are primarily driven by power consumption rules and a commitment to reducing greenhouse gas (GHG) emissions. Companies are focusing towards more investment in this industry, owing to the fact market of India electric motor are expected to grow with a high CAGR in the forecast period." said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

India Electric Motors Market By Motor Type (Alternate Current (AC) Motor and Direct Current (DC) Motor) By Output Power (Integral Horsepower (IHP) Output and Fractional Horsepower (FHP) Output), By Application (Industrial, HVAC, Medical Equipment, Industrial Machinery, Home Appliances, and Others), By Voltage Rating (Low Voltage (Upto 690V), Medium Voltage (691V - 3300V), High Voltage (above 3300V)), By End-User (Residential, Commercial, Industrial, and Transportation), By Region, Competition Forecast & Opportunities, 2018-2028F has evaluated the future growth potential of India Electric Motors Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Electric Motors Market.

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