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

Myanmar 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 decline of -18.19% over the previous year. While Germany registered a growth of 594% as compared to the previous year. In the year 2017, China was the largest exporter followed by Thailand. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Myanmar had a Herfindahl index of 4323 in 2017 which signifies high concentration also in 2021 it registered a Herfindahl index of  7732 which signifies high concentration in the market.

Myanmar Electric Motor Market - Export Market Opportunities

 

Topics Covered in the Myanmar Electric Motor Market

Myanmar Electric Motor Market report thoroughly covers the market by motor type, by voltage range, by application, and by speed. The market outlook 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.

Myanmar Electric Motor Market Synopsis

Myanmar Electric Motor Market has been growing at a significant pace in recent years. This increased demand can be attributed to the rising industrialization and modernization in the country. Myanmar has undergone rapid changes in the past decade with much-needed economic reforms and investment opportunities. The country has transitioned from a military dictatorship to a market-oriented economy, and growth is booming. 

According to 6Wresearch, the Myanmar Electric Motor Market size is expected to reach $345 million, growing at a CAGR of 9% during the forecast period of 2024-2030. The growth in the market is driven by the government's plan to shift the transportation industry towards electric vehicles, which is expected to witness favourable opportunities for the electric motor market.  The Myanmar Electric Motor Market Growth is also driven by the need for energy-efficient solutions. Myanmar experiences power cuts frequently, and electric motors are seen as an efficient alternative for productivity and profit in the manufacturing industry. In addition, the high demand for refrigeration systems and HVAC systems has increased the demand for electric motors in Myanmar, creating new growth opportunities in the market. However, the lack of infrastructure in Myanmar has been a hindrance to the growth of the market.

The country has poor road infrastructure, which limits the penetration of electric vehicles. In addition to this, the lack of skilled workers and technological expertise has hampered the development of the Myanmar Electric Motor Market Share. Despite the challenges, the Electric Motor market in Myanmar presents numerous opportunities for investors. The country has an abundance of raw materials, which can be used to manufacture electric motors, making it a cost-effective alternative. The government's favourable policies and incentives also create a favourable investment climate for investors. The government is offering tax exemptions and investment privileges for investors who are willing to establish manufacturing plants in Myanmar, which includes the electric motor market.

Government policies and schemes introduced in the Myanmar Electric Motor Market 

One of the policies introduced by the government is the "Myanmar Economic Recovery and Reform Plan" which aims to promote economic growth by providing opportunities for various sectors like manufacturing. Under this plan, several initiatives have been launched, including the "Investment Law" which offers incentives to both domestic and foreign investors to encourage more investment in the country.

This plan has proven to be a useful tool in attracting foreign investors to the electric motor market, leading to the growth and development of new factories. Another notable government scheme is the "National Electrification Plan" for the installation of a power grid that aims to reach all corners of the country. This scheme has been beneficial for the electric motor market as it has provided a steady supply of electricity to factories, allowing them to operate efficiently.

Leading players in the Myanmar Electric Motor Market

One of the leading players in the Myanmar Electric Motor Industry is the "Electric Motor Co. Ltd." This company produces a variety of electric motors, such as high voltage and medium voltage motors, that cater to different industries like construction, transportation, and manufacturing. Electric Motor Co. Ltd. aims to expand its operations in Myanmar by partnering with local businesses, which will increase employment opportunities and support the local economy. Another leading player is the "HBH Electric" company, which has been in the industry for nearly two decades. HBH Electric specializes in making small-sized electric motors for household and commercial use. Furthermore, "Maxpower Group" is an electric motor company that provides renewable energy solutions such as wind turbines and solar panels. 

Market Analysis by Motor Type

According to Shivankar, Research Manager, 6Wresearch, AC motors are expected to witness the highest growth due to their numerous advantages over DC motors, such as better efficiency, lower maintenance costs, longer lifespan, and reduced noise and vibration levels.

Market Analysis by Application

In terms of Application, industrial machinery and motor vehicles are expected to be the largest revenue-generating segments in the Myanmar electric motor market due to their constant demand in various industries.

Key Attractiveness of the Report 

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Myanmar Electric Motor Market Outlook
• Market Size of Myanmar Electric Motor Market, 2023
• Forecast of Myanmar Electric Motor Market, 2030
• Historical Data and Forecast of Myanmar Electric Motor Revenues & Volume for the Period 2020 - 2030
• Myanmar Electric Motor Market Trend Evolution
• Myanmar Electric Motor Market Drivers and Challenges
• Myanmar Electric Motor Price Trends
• Myanmar Electric Motor Porter's Five Forces
• Myanmar Electric Motor Industry Life Cycle
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By Motor Type for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By Alternate Current (AC) Motor for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By Direct Current (DC) Motor for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By Hermetic Motor for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By Voltage Range for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By 9 V & Below for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By 10-20 V for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By 21-60 V for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By 60 V & Above for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By Application for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By Industrial Machinery for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By Motor Vehicles for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By Heating, ventilating, and cooling (HVAC) equipment for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By Aerospace & transportation for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By Household Appliances for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By Other for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By Speed (RPM) for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By Low-Speed Electric Motors (Less Than 1,000 RPM) for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By Medium-Speed Electric Motors (1,001-25,000 RPM) for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By High-Speed Electric Motors (25,001-75,000 RPM) for the Period 2020 - 2030
• Historical Data and Forecast of Myanmar Electric Motor Market Revenues & Volume By Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM) for the Period 2020 - 2030
• Myanmar Electric Motor Import Export Trade Statistics
• Market Opportunity Assessment By Motor Type
• Market Opportunity Assessment By Voltage Range
• Market Opportunity Assessment By Application
• Market Opportunity Assessment By Speed (RPM)
• Myanmar Electric Motor Top Companies Market Share
• Myanmar Electric Motor Competitive Benchmarking By Technical and Operational Parameters
• Myanmar Electric Motor Company Profiles
• Myanmar Electric Motor Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Motor Type

Alternate Current (AC) Motor

Direct Current (DC) Motor

Hermetic Motor

By Voltage Range

• 9 V & Below
• 10-20 V
• 21-60 V
• 60 V & Above

By Application

• Industrial Machinery
• Motor Vehicles
• Heating
• Ventilating
• And Cooling (HVAC) Equipment
• Aerospace & Transportation
• Household Appliances
• Other

By Speed (RPM)

• Low-Speed Electric Motors (Less Than 1,000 RPM)
• Medium-Speed Electric Motors (1,001-25,000 RPM)
• High-Speed Electric Motors (25,001-75,000 RPM)
• Ultrahigh-Speed Electric Motors (Greater Than 75,001 RPM))

Myanmar Electric Motor Market (2024-2030): FAQs