India Electric Motor Market (2024-2030) | Growth, Share, Industry, Segmentation, Forecast, Value, Trends, Size, Revenue, Analysis, Outlook

India Electric Motor Market | Country-Wise Share and Competition Analysis

In the year 2021, China was the largest exporter in terms of value, followed by Germany. It has registered a growth of 91.26% over the previous year. While Germany registered a growth of 26.8% as compared to the previous year. In the year 2017, China was the largest exporter followed by Germany. In term of the Herfindahl Index, which measures the competitiveness of countries exporting, India has a Herfindahl index of 2069 in 2017 which signifies moderately concentrated also in 2021 it registered a Herfindahl index of  2715 which signifies high concentration in the market.

India Electric Motor Market - Export Market Opportunities

Latest 2023 Developments of the India Electric Motor Market

The India Electric Motor Market is attaining growth and many trends are undergoing in the market and first major trend which is happening in this sector is the acceptance of electric vehicles in the nation. Consumers are now seeking more sustainable transportation options with growing concerns regarding fuel prices and environmental pollution. The government of the country has also been playing a huge role in the market success since the government is promoting renewable energy sources and this play a huge role in the market progression. The industrial sector in the country is another area where these electric motors have attained traction. Companies these days are looking to decrease their energy costs and carbon footprint by switching to more efficient motors, which is helping in boosting the growth of this sector.

Topics Covered in India Electric Motor Market Report

India Electric Motor Market report thoroughly covers the market by type, power output, voltage, applications, and end-user. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Electric Motor Market is projected to grow over the coming year. The India Electric Motor Market report is a part of our periodical regional publication Asia Pacific Electric Motor Market outlook report. 6W tracks the electric motor market for over 60 countries with individual country-wise market opportunity assessments and publishes the report titled Global Electric Motor Market outlook report annually.

India Electric Motor Market Synopsis

India Electric Motor Market has witnessed substantial growth on account of the rising automotive industry and growing industrialization in the country.  The factors driving the demand for electric motors are rapid urbanization, growing industrialization, and increasing constructional activities.

According to 6Wresearch, the India Electric Motor Market size is expected to grow during 2020-2026. Several factors have been playing a crucial role in driving the market and these factors are the rising industrialization, rising constructional activities as well as faster urbanization. Additionally, growing energy consumption and growing government initiatives towards the adoption of electric motors would further fuel the growth of the electric motor market in India. The government of the country has also been playing a huge role in the market success since the government is promoting the renewable energy sources. The rising concern towards protecting the environment from harmful gases is also boosting the India Electric Motors Market Growth. The government of the country is making efforts to promote renewable energy sources, which drives the market. Technological advancements are also supporting the market progression since it is owing to these smart technologies that manufacturers are able to develop efficient motors.

COVID-19 Impact on India Electric Motor Market

The market in India registered significant decline as the country had to go through economic crises since the government imposed lockdown owing to which a number of industries were not supposed to operate. Only a very few and significant industries were allowed to operate during the pandemic and these industries include healthcare, retail, agriculture, and online education. The automotive sector completely impeded by the pandemic since there was a huge restriction on travel and as people were spending more time at home, so there was a decline in sales of vehicles, and electric motors are majorly used in vehicles, which brough challenges for the market. Other major consumers also faced significant challenges which became the reason behind the declining demand and sales of electric motors, and this further lowered the India Electric Motor Market Share.

India Electric Motor Market: Key Players

Many players are operating in the market but only a few players have a crucial role to play and these players are:

• ABB Ltd.
• Siemens AG
• Bharat Heavy Electricals Limited (BHEL)
• Kirloskar Electric Company Limited
• Havells India Limited
• Toshiba Corporation.

Market by Type

According to Gyan, Senior Research Analyst, 6Wresearch, the AC electric motor segment is expected to dominate the electric motor market in India owing to increasing demand for machine control in the automotive industry and growing demand for energy-efficient systems in manufacturing.

Market by Power Output

In terms of power output, the fractional horsepower segment is holding a major revenue share in the market due to enhancing deployment of electric motors in small-scale industries as well as other applications coupled with increasing investment in the industrial sector.

Market by End-User

In terms of end-user, the industrial machinery segment is anticipated to dominate the India Electric Motor Industry revenue share owing to surging demand for energy-efficient conveyor systems in the automotive and manufacturing industries.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Reports

• India Electric Motor Market Overview
• India Electric Motor Market Outlook
• India Electric Motor Market Forecast
• Historical Data of India Electric Motor Market Revenues and Volumes, for the Period 2016-2019.
• Market Size & Forecast of India Electric Motor Market Revenues and Volumes, until 2026.
• Historical Data of India Electric Motor Market Revenues and Volumes, by type, for the Period 2016-2019.
• Market Size & Forecast of India Electric Motor Market Revenues and Volumes, by type, until 2026.
• Historical Data of India Electric Motor Market Revenues and Volumes, by power output, for the Period 2016-2019.
• Market Size & Forecast of India Electric Motor Market Revenues and Volumes, by power output, until 2026.
• Historical Data of India Electric Motor Market Revenues and Volumes, by voltage, for the Period 2016-2019.
• Market Size & Forecast of India Electric Motor Market Revenues and Volumes, by voltage, until 2026.
• Historical Data of India Electric Motor Market Revenues and Volumes, by end-user, for the Period 2016-2019.
• Market Size & Forecast of India Electric Motor Market Revenues and Volumes, by end-user, until 2026.
• Historical Data of India Electric Motor Market Revenues and Volumes, by application, for the Period 2016-2019.
• Market Size & Forecast of India Electric Motor Market Revenues and Volumes, by application, until 2026.
• Market Drivers and Restraints
• India Electric Motor Market Price Trends
• India Electric Motor Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• India Electric Motor Market Share, By Players
• India Electric Motor Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Types

• AC Electric Motor
• DC Electric Motor

By Power Output

• Integral Horsepower
• Fractional Horsepower

By Voltage

• Low Voltage
• Medium Voltage
• High Voltage

By Applications

• Pumps
• Fans
• Compressors
• Conveyors
• Others (Centrifuges, Extruders and Winches)

By End-User

• Industrial Machinery
• HVAC Equipment
• Automobile
• Consumer Appliances
• Aerospace & Transportation
• Power generation
• Other Commercial Application (Agriculture and Mining)