India Electric Motor Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 10.20% (2024-2032)

The India electric motor market is growing rapidly, driven by industrial automation, EV demand, and increased energy efficiency standards.  According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 10.20% from 2024 to 2032.

India Electric Motor Market Trends and Drivers:

A combination of factors such as expanding industrialization, urbanization, as well as a shift towards energy-efficient technologies, are responsible for the growth of the India electric motor market. Additionally, the market is propelling as industries such as manufacturing, automotive, and construction are major consumers of electric motors.

Government initiatives promoting the adoption of energy-efficient solutions, like the National Electric Mobility Mission Plan with the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles program, have accelerated the need for electric motors, especially in the electric vehicle (EV) sector. Demand for motors that power vehicle propulsion systems, as well as supporting components like cooling and power steering systems, is expected to grow considerably. Moreover, the modernization of agriculture through mechanization is boosting the need for electric motors in irrigation and farm equipment. 

The transition toward sustainable and high-efficiency motor technologies is augmenting the India electric motor market. In addition to this, the demand for motors that comply with IE2 and IE3 efficiency standards, which offer better energy savings, is growing as industries focus on reducing operational costs and energy consumption. Technological advancements are driving the development of motors with greater durability and lower maintenance needs, making them more attractive for industrial use.

Furthermore, the inflating adoption of automation and Industry 4.0 practices is fueling demand for precision motors in robotics and automated manufacturing systems. An increasing emphasis on sustainability, digitalization, and efficiency is anticipated to drive the India electric motor market in the coming years, supported by favorable government policies, rising EV penetration, and a commitment from industries to reduce their carbon footprints.

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India Electric Motor Market Industry Segmentation:

The report has segmented the market into the following categories:

Breakup by Motor Type:

• AC Motor
  • Induction AC Motor
  • Synchronous AC Motor
• DC Motor
  • Brushed DC Motor
  • Brushless DC Motor
• Others

Breakup by Voltage:

• Low Voltage Electric Motors
• Medium Voltage Electric Motors
• High Voltage Electric Motors

Breakup by Rated Power Insights:

• Fractional Horsepower Motors
  • Fractional Horsepower (< 1/8) Motors
  • Fractional Horsepower (1/8 – 1/2) Motors
  • Fractional Horsepower (1/2 – 1) Motors
• Integral Horsepower Motors
  • Integral Horsepower (1 – 5) Motors
  • Integral Horsepower (10 – 50) Motors
  • Integral Horsepower (50 – 100) Motors
  • Integral Horsepower (>100) Motors 

Breakup by Magnet Type:

• Ferrite
• Neodymium (NdFeB)
• Samarium Cobalt (SmCo5 and Sm2Co17)

Breakup by Weight:

• Low Weight Motors
• Medium Weight Motors
• High Weight Motors

Breakup by Speed:

• Ultra-High-Speed Motors
• High-Speed Motors
• Medium Speed Motors
• Low Speed Motors

Breakup by Application:

• Industrial Machinery
• HVAC
• Transportation
• Household Appliances
• Motor Vehicles
• Aerospace
• Marine
• Robotics
• Others

Breakup by Region:

• North India
• West and Central India
• South India
• East and Northeast India

Competitive Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

Ask Analyst for Customization: https://www.imarcgroup.com/request?type=report&id=21549&flag=C

Key highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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