According to the research report of Researchandmarkets.com, India’s Electric Motors Market is projected to grow at a CAGR of 5.9% during 2020-2026.
The growing acceptance of electric vehicles is catalyzing the growth of the electric motors market size globally and in India as well. An upsurge in demand for automotive electric motors is expected over the coming years owing to rising fuel prices and stringent regulations towards reducing the air pollution level across the nation. Additionally, FAME II for 100% vehicle electrification, Make in India program and other initiatives to achieve India’s target of becoming a global manufacturing hub would continue to boost the demand for electric motors in the country.
AC electric motors segment captured the majority of the revenue share in 2019 of India’s electric motors market overview and is projected to dominate during the forecast period as well. Among voltage levels, low voltage motors segment bagged the highest revenue share in 2019, however, with growing usage in the industrial segment, medium voltage is projected to exhibit the highest growth over the coming years.
The report thoroughly covers the India electric motors market by types, voltage, power capacity, sectors, and regions. The report provides an unbiased and detailed analysis of the on-going India electric motors market trends, opportunities/high growth areas, market drivers, and India electric motors market share by companies, which would help stakeholders to device and align market strategies according to the current and future market dynamics.
Companies Mentioned
- ABB India Limited
- Bharat Bijlee Ltd.
- Bharat Heavy Electricals Ltd.
- CG Power And Industrial Solutions Limited
- Fuji Electric India Pvt. Ltd.
- Kirloskar Electric Company Ltd.
- Regal Beloit Corporation
- Siemens Ltd.
- TMEIC Industrial Systems India Private Limited
- WEG Industries (India) Pvt Ltd.
