India Electric Motor Market was valued at US$ 980.56 Mn. in 2021. India Electric Motor Market size is estimated to grow at a CAGR of 17.45%.
India Electric Motor Market Overview:
Electro-mechanical devices like electric motors are operating on the principle of electromagnetic induction. They are highly efficient, long-lasting, low-maintenance, energy-efficient, and can endure strong voltage fluctuations. Furthermore, electric motors are substantially less expensive than fossil-fuel engines. There are 12 different types of electric motors are available in the market. Hysteresis motors, pancake or axial rotor motors, synchronous reluctance motors, and stepper motors are some of the types of the electric motors.
This report discusses the market growth drivers and obstacles for the manufacturer, as well as a review of the significant trends in the market’s business strategies, procedures, and financially sound and expand approach. Customization is also possible to meet the needs of individual customers, as well as a complete understanding of market potential. The India Electric Motor Market provides a comprehensive overview of the market’s competitive landscape and main merchants. This report can assist with structural planning in light of current industry conditions.
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Market Scope:
According to the forecast period 2021-2027, the India Electric Motor market is expected to grow at a steady rate of xx % between 2021 and 2027. The market is estimated to increase in the forecast period of 2021, as key industry players continue to complete projects.
This report includes a value-based analysis and forecast for the India Electric Motor market. This study and analysis of market drivers, constraints, and opportunities impacting the growth of the India Electric Motor Market is included in this report. India Electric Motor Market segmentation has been provided based on type, source, end-user, and geography (country-wise). The scope of the study included a strategic analysis of the India Electric Motor market in terms of individual growth trends, future prospects, and the contributions of key sub-market stakeholders. India Electric Motor Global market analysis and forecasts for five key regions: North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and Latin America, as well as country-by-country segmentation. The profiles of main industry participants, as well as their strategic perspectives, market positioning, and analyses of core competencies, are included. The top companies participating in the India Electric Motor Market are also profiled in terms of their competitive advancements, investments, strategic expansion, and competitive landscape.
India Electric Motor Market Segmentation:
In the current market scenario, the use of rare earth magnets are becoming a stumbling block, which is promoting machine designers to think outside the box. It also reducing the requirement for rare earth magnets and drive the demand for efficient electric motor demand. Despite the constraints rare earth magnets electric motors like endeavour, small changes in the structure area have potential to increase its significant commercial benefits. Which is expected to continue as new machine designs. It is expected to become a key trend in the India electric motor market.
According to the research, India’s industrial sector consumes about more than 40% of the total electricity consumption. In which, electric motor- systems are using more than 28% of total national electricity. In the India, EESL’s National Motor Replacement Programme (NMRP) goals to stimulate supply for high efficiency motors in the country. Energy Efficiency Services Limited has signed agreements with over 30 major industries to replace over 1,200 inefficient motors, which helps to enable energy savings of 48,16,535 kWh and emission reduction of 4,240 tCO2 per year.
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India Electric Motor Market Key Players:
• ABB India Ltd.
• Siemens India Ltd.
• CG Power And Industrial Solutions Limited
• Bharat Heavy Electricals Ltd.
• Marathon Electric India
• Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC)
• WEG Industries (India) Pvt. Ltd.
• Kirloskar Electric Company Ltd.
• Hindustan Electric Motors
• Bharat Electric Motors
Regional Analysis:
The India Electric Motor market is organized into five regions: Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America.
COVID-19 Impact Analysis on India Electric Motor Market:
The globe has reached the end of the COVID-19 pandemic’s recovery phase. In light of the current economic scenario, Maximize Industry Research has launched the India Electric Motor Market Status, Trends, and COVID-19 Impact Report 2021, which provides a comprehensive look at the India Electric Motor market.
Key Questions answered in the India Electric Motor Market Report are:
- Which product segment grabbed the largest share in the India Electric Motor market?
- How is the competitive scenario of the India Electric Motor market?
- Which are the key factors aiding the India Electric Motor market growth?
- Which region holds the maximum share in the India Electric Motor market?
- What will be the CAGR of the India Electric Motor market during the forecast period?
- Which application segment emerged as the leading segment in the India Electric Motor market