India Electric Motor Market (2024-2030) | Growth, Share, Industry, Segmentation, Forecast, Value, Trends, Size, Revenue, Analysis, Outlook & COVID-19 IMPACT

Market Forecast By Types (AC Electric Motor And DC Electric Motor), By Power Output (Fractional Horsepower And Integral Horsepower), By Voltage (Low Voltage, Medium Voltage And High Voltage), By Application (Pumps, Fans, Compressors, Conveyors And Others (Centrifuges, Extruders And Winches)), By End-User (Industrial Machinery, HVAC Equipment, Automobile, Consumer Appliances, Aerospace & Transportation, Power Generation And Others Commercial Application (Agriculture And Mining)) And Competitive Landscape

Product Code: ETC002430 Publication Date: Dec 2023 Updated Date: Feb 2024 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

India Electric Motor Market Shipment Analysis

India Electric Motor Market registered a growth of 27.62% in value shipments in 2022 as compared to 2021 and an increase of 9.3% CAGR in 2022 over a period of 2017. In Electric Motor Market India is becoming less competitive as HHI index in 2022 was 3583 while in 2017 it was 2069. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Electric Motor Market.

India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Electric Motor Market in 2022 was 1.97 while in 2017 it was 1.56. China, Germany, Japan, USA and Italy were among the top players of the market in 2022, where China acquired the largest market share of 58.16% with a shipment value of 253.28 million USD in 2022 China also offered the product below the average market price thus having a competitive advantage over others In 2017 China had the largest market share of 37.76% with the shipment value of 75.58 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.

India Electric Motor Market Competition 2023


India Export Potential Assessment For Electric Motor Market (USD Values in Thousand)


Topics Covered in the India Electric Motor Market

India Electric Motor Market report thoroughly covers the market by types, by power capacity, by voltage, by sectors, and by regions. 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.

India Electric Motor Market Synopsis

India Electric Motor Market is highly fragmented owing to the presence of a large number of players including major companies and medium-sized enterprises. Product innovation and technological advancement such as energy-efficient motors with significant power saving capability have steered higher adoption of electric motors in recent years across several segments such as automotive, manufacturing, HVAC equipment, and home appliances in the country.

According to 6Wresearch, the India Electric Motor Market size has been expanding with expected CAGR of 6.3% during the forecast period of 2024-2030. India has been a burgeoning market for the electric motor industry. Its development can be attributed to various factors including stringent environmental regulations, technological advancements, and government initiatives to promote electric vehicle adoption. Additionally, the growing construction industry, increasing use of electric motors in home appliances, and rising demand from the agriculture sector are some of the key drivers of the electric motor market in India. While the India electric motor market is booming, it still faces significant challenges. Critical factors that threaten the India Electric Motor Market Growth include the high cost of electric vehicles due to battery costs, lack of charging infrastructure, and the prevalence of low-cost, low-quality imported products. One of the significant trends in the Indian electric motor market is the increasing adoption of electric vehicles. India's government has set an ambitious target of electrifying all road transport by 2030, which is expected to boost demand for electric motors in the country. India presents numerous opportunities for players in the electric motor market. The increasing demand for electric vehicles and the government's initiatives to promote clean energy solutions are factors that will drive the demand for electric motors in the country. Moreover, the government envisions India as a quality manufacturing hub and is committed to promoting "Make In India" to boost its manufacturing sector, which will drive investments in the electric motor market.

Government policies and schemes introduced in the India Electric Motor Market

The government released its FAME-II scheme (Faster Adoption and Manufacturing of Electric Vehicles) in April 2019, which aimed at subsidizing the cost of electric vehicles, including electric two-wheelers, three-wheelers, and cars. Under this scheme, electric vehicles are eligible for incentives ranging from INR 10000 to INR 15000 per kilowatt-hour of battery capacity. The government has also proposed reducing the Goods and Services Tax (GST) rate for electric vehicles from 12% to 5%. Various states in India have taken the initiative to promote the usage of electric vehicles in their respective regions. For instance, the Delhi state government has implemented a policy of providing incentives of up to INR 30000 for two-wheelers and INR 1.5 lakhs for four-wheelers, over and above the FAME-II subsidies.

Leading players in the India Electric Motor Market

The India electric motor industry has seen the emergence of various domestic and global players in recent years. The leading players in the market include Siemens AG, ABB India Limited, Bharat Heavy Electricals Limited (BHEL), Toshiba India Pvt. Ltd., and WEG Industries India Pvt. The market is highly competitive, with each player focused on producing high-quality and energy-efficient electric motors to cater to the rising demand.

Market Analysis by Power Capacity

By Power Capacity, the integral horsepower segment is growing rapidly in India due to the rising demand for motor-driven machinery in various sectors such as mining, agriculture, and construction.

Market Analysis by Voltage

According to Aditi, Senior Research Analyst, 6Wresearch, the low voltage motors account for the largest market share in India, followed by medium voltage motors. High voltage motors are used in heavy industrial applications such as steel manufacturing and petrochemicals and have witnessed significant growth in recent years due to the increase in infrastructure projects in India.

Market Analysis by Regions

Based on Regions, the southern region is currently dominating the India Electric Motor Market Share due to the presence of various industries such as automotive, aerospace, and electronics. The northern region is also witnessing significant growth due to the increase in infrastructure projects and the demand for motor-driven machinery in the mining and construction sectors.

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 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 2023.
  • Market Size & Forecast of India Electric Motor Market Revenues and Volumes, until 2030.
  • Historical Data of India Electric Motor Market Revenues and Volumes, by type, for the Period 2020-2030.
  • Market Size & Forecast of India Electric Motor Market Revenues and Volumes, by type, until 2030.
  • Historical Data of India Electric Motor Market Revenues and Volumes, by power output, for the Period 2020-2030.
  • Market Size & Forecast of India Electric Motor Market Revenues and Volumes, by power output, until 2030.
  • Historical Data of India Electric Motor Market Revenues and Volumes, by voltage, for the Period 2020-2030.
  • Market Size & Forecast of India Electric Motor Market Revenues and Volumes, by voltage, until 2030.
  • Historical Data of India Electric Motor Market Revenues and Volumes, by end-user, for the Period 2020-2030.
  • Market Size & Forecast of India Electric Motor Market Revenues and Volumes, by end-user, until 2030.
  • Historical Data of India Electric Motor Market Revenues and Volumes, by application, for the Period 2020-2030.
  • Market Size & Forecast of India Electric Motor Market Revenues and Volumes, by application, until 2030.
  • 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 Covered

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

By Types

  • AC Motors
  • DC Motors

By Power Capacity

  • Fractional Horsepower
  • Integral Horsepower

By Voltage

  • Low Voltage
  • Medium Voltage
  • High Voltage

By Sectors

  • Industrial
  • Commercial
  • Residential
  • Automotive
  • Others

By Regions

  • Eastern
  • Northern
  • Western
  • Southern
India Electric Motor Market (2024-2030): FAQs
Factors that have been contributing to the market growth are environmental concerns, government initiatives, advancements in technology, and rising urbanization and industrialization.
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, and Toshiba Corporation.
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.
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.
1. Executive Summary
2. Introduction
2.1  Report Description
2.2  Key Highlights
2.3  Market Scope & Segmentation
2.4  Research Methodology
2.5  Assumptions
3. India Electric Motor Market Overview
3.1 India Electric Motor Market Revenues And Volume, 2020-2030
3.2 India Electric Motor Market  Revenue Share, By Voltage, 2020 & 2030
3.3 India Electric Motor Market  Revenue Share, By Power Output, 2020 & 2030
3.4 India Electric Motor Market  Revenue Share, By Types, 2020 & 2030
3.5 India Electric Motor Market  Revenue Share, By End-User, 2020 & 2030
3.6 India Electric Motor Market  Revenue Share, By Application, 2020 & 2030
3.7 India Electric Motor Market - Industry Life Cycle
3.8 India Electric Motor Market - Porter’s Five Forces
4. India Electric Motor Market Dynamics
4.1 Impact Analysis
4.2 Market Drivers
4.3 Market Restraints
5. India Electric Motor Market Trends
6. India Electric Motor Market Overview, By Voltage
6.1 India Low Voltage Electric Motor Electric Motor Market  Revenues And Volume, 2020-2030
6.2 India Medium Voltage Electric Motor Electric Motor Market  Revenues And Volume, 2020-2030
6.3 India High Voltage Electric Motor Electric Motor Market Revenues And Volume, 2020-2030
7. India Electric Motor Market Overview, By Power Output
7.1 India Electric Motor Market Revenue And Volumes, By Integral Horsepower, 2020-2030
7.2 India Electric Motor Market Revenue And Volumes, By Fractional Horsepower, 2020-2030
8. India Electric Motor Market Overview, By Types
8.1 India Electric Motor Market Revenue And Volumes, By Ac Motor, 2020-2030
8.2 India Electric Motor Market Revenue And Volumes, By  Dc Motor, 2020-2030
9. India Electric Motor Market Overview, By End-User
9.1 India Electric Motor Market Revenue And Volumes, By Industrial Machinery, 2020-2030
9.2 India Electric Motor Market Revenue And Volumes, By Hvac Equipment, 2020-2030
9.3 India Electric Motor Market Revenue And Volumes, By Automobile, 2020-2030
9.4 India Electric Motor Market Revenue And Volumes, By Consumer Applaince, 2020-2030
9.5 India Electric Motor Market Revenue And Volumes, By Aerospace & Transportation, 2020-2030
9.6 India Electric Motor Market Revenue And Volumes, By Power Generation, 2020-2030
9.7 India Electric Motor Market Revenue And Volumes, By Other Commercial Application (Agriculture And Mining), 2020-2030
10. India Electric Motor Market Overview, By Application
10.1 India Electric Motor Market Revenue And Volumes, By Pumps, 2020-2030
10.2 India Electric Motor Market Revenue And Volumes, By Fans, 2020-2030
10.3 India Electric Motor Market Revenue And Volumes, By Compressors, 2020-2030
10.4 India Electric Motor Market Revenue And Volumes, By Conveyors, 2020-2030
10.5 India Electric Motor Market Revenue And Volumes, By Others (Centrifuges, Extruders And Winches), 2020-2030
11. India Electric Motor Market Key Performance Indicators
12. India Electric Motor Market Opportunity Assessment
12.1 India Electric Motor Market Opportunity Assessment, By Voltage, 2030
12.2 India Electric Motor Market Opportunity Assessment, By Power Output, 2030
12.3 India Electric Motor Market Opportunity Assessment, By Types, 2030
12.4 India Electric Motor Market Opportunity Assessment, By End-User, 2030
12.5 India Electric Motor Market Opportunity Assessment, By Application, 2030
13. India Electric Motor Market Competitive Landscape
13.1 India Electric Motor Market By Companies, 2023
13.2 India Electric Motor Market Competitive Benchmarking, By Operating Parameters
14. Company Profiles
15. Key Strategic Recommendations
16. Disclaimer
 

Market Forecast By Types (AC Electric Motor And DC Electric Motor), By Power Output (Fractional Horsepower And Integral Horsepower), By Voltage (Low Voltage, Medium Voltage And High Voltage), By Application (Pumps, Fans, Compressors, Conveyors And Others (Centrifuges, Extruders And Winches)), By End-User (Industrial Machinery, HVAC Equipment, Automobile, Consumer Appliances, Aerospace & Transportation, Power Generation And Others Commercial Application (Agriculture And Mining)) And Competitive Landscape

Product Code: ETC002430 Publication Date: Aug 2023 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

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 | Country-Wise Share and Competition AnalysisIndia Electric Motor Market - Export Market Opportunities

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)

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