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

Topics Covered in the Thailand Electric Motor Market

Thailand 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.

Thailand Electric Motor Market Synopsis

Thailand Electric Motor Market is a growing and dynamic industry that is being driven by a range of factors, including the increasing use of electric vehicles and government initiatives to promote renewable energy. While there are challenges, such as competition from low-cost manufacturers and a shortage of skilled labor, the outlook for the market is positive. Electric motors are widely used in various applications in Thailand, such as for household appliances, industrial machinery, and transportation. As the demand for energy-efficient and environmentally-friendly motors is increasing, the Thailand Electric Motor Market Growth is expected to grow significantly.

According to 6Wresearch, the Thailand Electric Motor Market Size is expected to grow at a CAGR of 7% during the forecast period of 2024-2030. The growth of the Thailand electric motor market is primarily driven by the increasing demand for electric vehicles (EVs) and the implementation of energy efficiency regulations. As the government encourages the use of EVs to reduce carbon emissions and dependence on fossil fuels, more manufacturers are investing in EV production. Moreover, the government has set energy efficiency regulations for various industries, which require industries to use energy-efficient electric motors. The Thailand electric motor industry is witnessing several trends, including the adoption of permanent magnet motors and the use of predictive maintenance systems. Permanent magnet motors are increasingly replacing induction motors due to their high energy efficiency, compact size, and low operating costs. However, Thailand electric motor market faces several challenges, with the most critical challenge being the lack of skilled labor. As the demand for high-efficiency electric motors increases, there is a shortage of skilled labor to design, manufacture, and maintain these motors. This challenge needs to be addressed by investing in vocational training and technology transfer initiatives. Nevertheless, the Thailand electric motor market presents several opportunities, particularly in the manufacturing of EV motors and the development of smart manufacturing systems. With the government's focus on electrifying the transportation sector, there is an excellent opportunity for manufacturers to invest in the production of EV motors.

Government policies and schemes introduced in the Thailand Electric Motor Market

The electric motor industry is gaining traction in Thailand as more businesses shift towards eco-friendly solutions. As a result, the government has introduced several policies and schemes to incentivize the Thailand Electric Motor Market Growth. With the Thailand 4.0 policy, the government aims to drive the country's development towards an innovation-driven economy. The policy promotes investment in the electric motor industry while encouraging businesses to use green energy. The Ministry of Energy launched the Energy Conservation Promotion Scheme in 2018 to reduce energy consumption and increase efficiency. The scheme targets manufacturers that use electric motors in their production lines, encouraging them to adopt more energy-efficient motors. In 2020, the government launched a new scheme to promote the use of electric vehicles in the country. The scheme incentivizes companies to produce electric vehicles and invests in electric motor infrastructure.

Leading players in the Thailand Electric Motor Market

The electric motor market in Thailand is dominated by several leading players such as ABB, Siemens, Panasonic, and Mitsubishi. These multinational companies have a strong presence in Thailand and hold a significant share of the electric motor market. The market is also home to several local manufacturers like Powerline and Thai Nippon Rubber Industry. The competition is high in the market, with manufacturers focusing on product innovation and development to maintain their competitive edge.

Market Analysis by Motor Type

According to Nikhil, Senior Research Analyst, 6Wresearch, the AC motor remains to be the most used type in various applications, such as agriculture, manufacturing industries, and buildings. However, the stepping motor segment is growing at a promising rate due to the increasing demand for robotic automation.

Market Analysis by Application

By Application, the household appliances segment is currently dominating the Thailand Electric Motor Market Share due to the rising demand for smart and energy-efficient appliances.

Market Analysis by Speed

By Speed, low-speed electric motor segment is experiencing high demand mainly due to its energy-saving benefits and high torque capacities, making it a perfect fit for several industrial applications.

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

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

Thailand Electric Motor Market (2024-2030): FAQs