India Electric Motors Market Competition Forecast & Opportunities, 2029

The India Electric Motors market is anticipated to grow robustly in the forecast period 2024-2028. Increased urbanization directly causes a rise in the demand for a wide range of services, which opens opportunities for the use of electrical motors., The increasing volume of construction activities encourages the use of electrical motors since many construction tasks need motors. Similar to this, additional motors are needed for various domestic applications in the residential sector. Most electric motors work by creating force in the form of torque imparted to the motor shaft through the interaction of the motor's magnetic field and electric current in a wire.

Increasing Adoption of HVAC Application to Propel the Market

Increasing power demand is due to the expansion in energy producing capacity. Additionally, the use of electric machinery in the agricultural sector is directly affected by crop cultivation since motors are crucial for irrigation of crops. In the upcoming years, these variables are anticipated to support the expansion of the electric motor market.

The demand for heating and cooling in residential, commercial, and industrial areas has led to an expansion of the heating and air-conditioning (HVAC) industry. This has prompted new construction activities to consider the HVAC equipment supply in the buildings as a crucial element while they are being built. Additionally increased demand for the use of electric motors is evident, hence, the market is expected to grow. Due to the expansion of commercial areas and improving standards of living, developing economies account for the majority of the HVAC industry's development.

The high maintenance cost of the motor is the main element that limits the growth of the market. Its adoption by customers may be hampered in some situations by the operation's high cost. For instance, if a high horsepower motor is used with a low load factor, the operation's cost per hour rises noticeably. Induction motors are an example of a motor that does not have a self-starting torque. Additionally, auxiliaries could be needed to start single-phase motors. As a result, these issues might hinder the market's growth.

Increasing Focus on Adopting Vehicles Running on Renewable Sources to Aid Market Growth

The use of electrical motors as a power source enables it to broaden and enhance its position in the worldwide market. These applications include transportation, electricity, and other sectors. The industrial sector has accelerated and new technologies like combined heat and power are being brought to the market as a result of the huge increase in global power consumption over the past ten years. Due to this, the industrial sector's use of electric machinery has expanded. Additionally, the introduction of electric vehicles (EVs) and the rise in the demand for automobiles have fueled this market's expansion.

The usage of fossil fuels in automobiles is now being phased out through several projects being launched by the automotive sector. Companies have developed battery-powered electric cars and fuel cell electric vehicles (FCEVs) that are powered by fuel cell reactions. For instance, Toyota began deploying its hydrogen forklifts, buses, and heavy vehicles in 2019 and announced plans to boost its global output of fuel cell stacks to 30,000, by 2020. Additionally, the Hyundai Motor Group unveiled a new strategy in December 2018 with the aim of producing 700,000 fuel cell systems yearly, of which 500,000 MW will be used for residential and commercial FCEVs.

Market Segmentation

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. Based on Application, the market is segmented into Industrial, HVAC, Medical Equipment, Industrial Machinery, Home Appliances, and Others. Based on Voltage Rating, the market is segmented into Low Voltage (Upto 690V), Medium Voltage (691V - 3,300V), High Voltage (above 3,300V)). Based on End-User, the market is segmented into residential, commercial, industrial, and transportation.

Market Players

Major players operating 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 and WEG Industries India Private Limited.

Report Scope

In this report, India Electric Motors Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

India Electric Motors Market, by Motor Type:

• Alternate Current (AC) Motor
• Direct Current (DC) Motor

India Electric Motors Market, by Output Power:

• Integral Horsepower (IHP)
• Output and Fractional Horsepower (FHP)

India Electric Motors Market, by Application:

• Industrial
• HVAC
• Medical Equipment
• Industrial Machinery
• Home Appliances
• Others

India Electric Motors Market, by Voltage Rating:

• Low Voltage (Upto 690V)
• Medium Voltage (691V - 3,300V)
• High Voltage (above 3,300V)

India Electric Motors Market, by End-User:

• Residential
• Commercial
• Industrial
• Transportation

India Electric Motors Market, by Region:

• West India
• North India
• South India
• East India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India Electric Motors Market.

Available Customizations

The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

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