India Electric Motors Market By Motor Type (Alternate Current (AC) Motor and Direct Current (DC) Motor) By Output Power (Integral Horsepower (IHP) Output and Fractional Horsepower (FHP) Output), By Application (Industrial, HVAC, Medical Equipment, Industrial Machinery, Home Appliances, and Others), By Voltage Rating (Low Voltage (Upto 690V), Medium Voltage (691V - 3300V), High Voltage (above 3300V

India Electric Motors market

Increasing Adoption of HVAC Application to Propel the Market

Increasing power demand is due to the expansion in energy producing capacity. Additionally, the use of electric machinery in the agricultural sector is directly affected by crop cultivation since motors are crucial for irrigation of crops. In the upcoming years, these variables are anticipated to support the expansion of the electric motor market.

The demand for heating and cooling in residential, commercial, and industrial areas has led to an expansion of the heating and air-conditioning (HVAC) industry. This has prompted new construction activities to consider the HVAC equipment supply in the buildings as a crucial element while they are being built. Additionally increased demand for the use of electric motors is evident, hence, the market is expected to grow. Due to the expansion of commercial areas and improving standards of living, developing economies account for the majority of the HVAC industry's development.

The high maintenance cost of the motor is the main element that limits the growth of the market. Its adoption by customers may be hampered in some situations by the operation's high cost. For instance, if a high horsepower motor is used with a low load factor, the operation's cost per hour rises noticeably. Induction motors are an example of a motor that does not have a self-starting torque. Additionally, auxiliaries could be needed to start single-phase motors. As a result, these issues might hinder the market's growth.

Download Free Sample Report Increasing Focus on Adopting Vehicles Running on Renewable Sources to Aid Market Growth

The use of electrical motors as a power source enables it to broaden and enhance its position in the worldwide market. These applications include transportation, electricity, and other sectors. The industrial sector has accelerated and new technologies like combined heat and power are being brought to the market as a result of the huge increase in global power consumption over the past ten years. Due to this, the industrial sector's use of electric machinery has expanded. Additionally, the introduction of electric vehicles (EVs) and the rise in the demand for automobiles have fueled this market's expansion.

Market Segmentation

Market player

Major players operating in the India Electric Motors Market are

Recent Developments

• Turbo Power Systems and Statcon Energiaa (SE), a power electronics manufacturer with its headquarters in India (Uttar Pradesh), signed a new collaboration agreement in April 2021. It is anticipated that the partnership will increase the knowledge of two businesses in the design, manufacture, and marketing of power electronics products for the energy, rail, and defense industries.