India Electric Motor Market (2020-2026): Forecast By Motor Types (AC & DC), By Power Ratings (Integral Horsepower and Fractional Horsepower), By Voltage (Low Voltage (Up to 690V), Medium Voltage (691V-3300V), and High Voltage (beyond 3300V)), By Verticals (Residential, Commercial, Industrial, Transport & Logistics, And Others), Application (Fans, Pumps, Compressors, Mechanical Movement, and Others) By Regions (East, West, North, And South), Growth, Opportunities, Trends, And Competitive Landscape
The electrical motor produces mechanical energy by utilizing electric energy. Electric motors are a very important component of several electronic appliances, machines, and equipment. Burgeoning commercial and industrial infrastructure progression in India drives the demand for industrial equipment, mechanical pumps, conveyor systems, lifting and pulling machines, HVAC systems, and various other electronic machinery that use an electric motor for their operations.
According to Pheonix Research, the size of the Electric Motors Market in India is forecasted to grow at a healthy CAGR of 6.3% during 2020-26. The industrial and commercial segment is the prime contributor in terms of revenue in the entire Indian electric motors market. Clean & Clear Power consumption norms in the minimization of greenhouse gas (GHG) emissions and strong initiatives by the Indian government allow 100% FDI in the Electronic System Design and Manufacturing Sector (ESDM) and set up of modern commercial and residential units will generate more opportunities in the industrial vertical and demand for new consumer electronics and other electronic components drive the growth of the market of the electric motor in India.
By Motor Type, Alternating Current (AC) electric motors vertically hold the major share in terms of revenue in 2019 and are anticipated to dominate the overall market during the forecast period.
By Voltage, The low voltage motors category captured the superlative revenue share in 2019, Although, the increasing application of electric motors in the industrial sector, medium voltage motors are anticipated to evince the zenithal growth over the forthcoming years.
Major players in India’s electric motors market include GE Power India Limited, Bharat Heavy Electricals Limited, Bharat Bijlee, ABB India Limited, Siemens, Regal Beloit, WEG Industries, Fuji, and Kirloskar.
“India Electric Motors Market (2020-2026)” report offers a comprehensive research report with 22 figures and 9 tables in more than 160 pages. The study forecasts and evaluates the Indian electric motors market by motor types, voltage levels, by verticals, , by applications, and region.
Market Segmentation
By Motor Types
• Alternating Current (AC) Motor
• Direct Current (DC) Motor
By Power Ratings
• Integral Horsepower
• Fractional Horsepower
By Voltage
• Low Voltage (Up to 690V)
• Medium Voltage (691V-3300V)
• High Voltage (beyond 3300V)
By Verticals
• Residential
• Commercial
• Industrial
• Transport & Logistics
• Others
By Application
• Fans
• Pumps
• Compressors
• Mechanical Movement
• Others
By Regions
• East
• West
• North
• South
Competitive Landscape