According to the report by Expert Market Research (EMR), the [FURL=https://bityl.co/S9qe]India electric motor market size[/FURL] reached a value of INR 118.30 billion in 2023. Driven by the increasing adoption of energy-efficient solutions and rising demand for automation across various sectors, the market is projected to further grow at a compound annual growth rate (CAGR) of 11% between 2024 and 2032, ultimately reaching a value of INR 302.6 billion by 2032.

Electric motors play a crucial role in various applications, including industrial machinery, home appliances, and transportation. As a significant driver of economic activity, electric motors are essential in enhancing efficiency, reducing energy consumption, and lowering carbon emissions. The government of India’s initiatives to promote electrification and renewable energy sources are expected to contribute substantially to the market's growth.

Size and Share

The India electric motor market is characterized by a diverse range of products, including AC motors, DC motors, and special-purpose motors. Among these, AC motors hold the largest market share, accounting for approximately 65% of the total market value in 2023. The growth of this segment is primarily attributed to the widespread use of AC motors in industrial applications, such as pumps, fans, and compressors.

DC motors are also witnessing increased adoption, particularly in the automotive sector, due to their ability to provide precise control and high torque. Moreover, with the rising demand for electric vehicles (EVs) in India, the share of specialized electric motors is expected to rise significantly in the coming years.

Trends and Innovations

The India electric motor market is witnessing several trends and innovations that are reshaping the landscape. One of the key trends is the growing emphasis on energy efficiency. Manufacturers are increasingly focused on producing energy-efficient motors that comply with international standards, such as IE3 and IE4 ratings. These motors not only reduce energy consumption but also contribute to lower operating costs for end-users.

Moreover, advancements in smart motor technology are gaining traction. Smart motors equipped with IoT (Internet of Things) capabilities allow for real-time monitoring and control, enabling enhanced operational efficiency and predictive maintenance. This trend is particularly significant in industrial applications, where downtime can lead to substantial financial losses.

Another notable innovation is the development of lightweight and compact electric motors, which are essential for applications in electric vehicles and portable equipment. These innovations are paving the way for increased performance and better integration into various applications.

Get a Free Sample Report with Table of Contents@ [FURL]https://bityl.co/S9qg[/FURL]

Key Players

The India electric motor market is highly competitive, featuring several prominent players, including:

Hindustan Electric Motors

ABB India Limited

Siemens Limited

Bharat Heavy Electricals Ltd (BHEL)

Kirloskar Electric Company

Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC)

Marathon Electric India

Bharat Electric Motors

Bharat Bijlee Limited

Others