India Electric Motors Market Forecast and Opportunities, 2023_Brochure

India Electric Motors Market

By Type, By End Use, By Application, Competition Forecast & Opportunities, 2013 – 2023

Published:

M ARKET

June, 2018

I NT EL L I GE N C E

. CONSULTING

Ta b l e o f C o n t e n t s S. No.

Contents

1.

Product Overview

2.

Research Methodology

3.

Analyst View

4.

Voice of Customer

5.

4.1.

Electric Motor Brands Used

4.2.

Factors Considered Before Purchase

4.3.

Brand Awareness

4.4.

Brand Satisfaction Level

India Electric Motors Market Outlook 5.1.

Industry Structure & Stakeholders

5.2.

Market Size & Forecast

5.3.

5.4.

5.2.1.

By Value

5.2.2.

By Volume

Market Share & Forecast 5.3.1.

By Type (AC Motors & DC Motors)

5.3.2.

By End Use (Residential, Commercial, Industrial & Transportation)

5.3.3.

By Application (Fans, Pumps, Compressors, Mechanical Movement & Others)

5.3.4.

By Region (North, East, South & West)

5.2.5.

By Company

Market Attractiveness Index 5.4.1.

By Type

5.4.2.

By Application

5.4.3.

By Region Š T ec hSci Research

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Ta b l e o f C o n t e n t s S. No. 6.

Contents India AC Electric Motors Market Outlook 6.1.

6.2.

7.

7.2.

9.

10.

6.1.1.

By Value

6.1.2.

By Volume

Market Share & Forecast 6.2.1.

By Type (Induction AC Motors & Synchronous AC Motors)

6.2.2.

By End Use (Residential, Commercial, Industrial & Transportation)

6.2.3.

By Application (Fans, Pumps, Compressors, Mechanical Movement & Others)

6.2.4.

By Region (North, East, South & West)

India DC Electric Motors Market Outlook 7.1.

8.

Market Size & Forecast

Market Size & Forecast

7.1.1.

By Value

7.1.2.

By Volume

Market Share & Forecast 7.2.1.

By Type (Brushed DC Motors & Brushless DC Motors)

7.2.2.

By End Use (Residential, Commercial, Industrial & Transportation)

7.2.3.

By Application (Fans, Pumps, Compressors, Mechanical Movement & Others)

7.2.4.

By Region (North, East, South & West)

Market Dynamics 8.1.

Drivers

8.2.

Challenges

Market Trends & Developments Channel Partner Analysis Š T ec hSci Research

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Ta b l e o f C o n t e n t s S. No.

Contents

11.

Price Trend Analysis

12.

Policy & Regulatory Landscape

13.

India Economic Profile

14.

Competitive Landscape 14.1.

Competitive Benchmarking

14.2.

Company Profiles 14.2.1.

CG Power and Industrial Solutions Limited

14.2.2.

Bharat Heavy Electricals Ltd.

14.2.3.

ABB India Ltd.

14.2.4.

Siemens Ltd.

14.2.5.

GE Power India Limited

14.2.6.

Bharat Bijlee Limited

14.2.7.

Kirloskar Electric Company Ltd.

14.2.8.

Regal Beloit Corporation (Marathon Electric)

14.2.9.

WEG Industries (India) Pvt. Ltd.

14.2.10.

Elgi Electric and Industries Limited

15.

Strategic Recommendations

16.

About Us & Disclaimer

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P r o d u c t O ve r v i e w •

Electric motor is a device that converts electrical energy into mechanical energy. Electric motors are used in a wide range of applications in residential,

manufacturing, commercial and real estate sectors, in the form of

compressors, for mechanical movement, and pump fans.

•

Electric motors are generally classified into two categories - alternating current (AC) motors, which are powered by alternating current such as grid electricity, and direct current (DC) motors, powered by direct current such as batteries. Electric motors (AC & DC) are available in output-power rating ranging from a few watts to hundreds of kilowatts.

Electric Motor and its Parts

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Classification of Electric Motors

Electric Motors

DC Motors

EC-PM Brushless

AC Motors

Brushed

Universal

Synchronous

Induction

Series Wound Shunt Wound Compound Wound

Single-Phase

Three- Phase

Permanent Magnet Abbreviations: AC – Alternating Current; DC – Direct Current; EC – Electronically Commutated; PM – Permanent Magnet Source: Energy Information Administration

Applications of Electric Motors Segment Industrial

Applications Power machinery, conveyers, compressed air delivery, fans and pumps, etc.

Building

Air conditioning systems, ventilation, compressors in heating, conveyors, pumps, fans, lifts, etc.

Appliance

Ref rigerators, air conditioners, hard drives, cooking appliances, oven fans, extractor fans, garden appliances, pool pumps, personal computer and laptop fans, etc.

Source: Energy Information Administration © T ec hSci Research

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Research Methodology Market Profiling In-depth secondary research was conducted to determine India electric motors market size.

Data C ollection

Data Filter & Ana lysis

R e search & Actionable Inte lligence Insights

Business Solution

Formulating Questionnaire In order to conduct interviews of industry experts, TechSci Research formulated a detailed questionnaire.

Developing List of Respondents



Identif ying Key Opinion Leaders



Questionnaire Design



In-depth Interviews

A Primary Research

List of industry players such as electric motor manufacturers, suppliers, associations and consumers was prepared.

Recent

Developments 

Market Dynamics

 Government B Policies Desk Research  Final Conclusion

Data Collection TechSci Research conducted interviews with industry experts and players for data collection and verification.





Market Participants



Key Challenges



Growth Drivers

C Company Analysis

Data Validation

Data obtained as a result of primary and secondary research was validated through rigorous triangulation.

Data Analysis Data was scrutinized using MS-Excel and statistical tools such as Time Series Analysis, etc., to obtain qualitative and quantitative insights about India electric motors market.

Primary Research  

T ec hSci I nternal D atabase I nterview with Key O pinion L eaders

Secondary Research      

C ompany Webs ite C ompany A nnual Reports White P aper Study Financ ial Reports I nves tor P resentations Regulatory Body, A ssociations, etc .

© T ec hSci Research

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Research Methodology

Short term

Optimistic

D1

XX% CAGR

Short term

Medium term

2023F

2022F

2021F

2020F

2018

2019E

2017

2016

2015

2014

• Market indicators expected to perform at average level during the forecast period • Market expected to slow down with decreasing impact of drivers

2023F

2022F

2021F

2020F

2018

2019E

2017

• Qualitative to quantitative conversion • Assigning weightage to drivers • Statistical evaluation • Developing the actual forecast based on both the cases

Conservative

2013

India Electric Motors Market, 2013-2023

2016

D3

2015

D2 2014

• Market indicators expected to outperform during the forecast period • Market expected to gain traction w ith increasing impact of drivers

XX% + 4% CAGR

2013

Forecasting Methodology

Long term

Medium term

Long term

XX% + 2% CAGR

D1

XX% + 4% CAGR

D2

Degree of impact

High

Medium

2023F

2022F

2021F

2020F

2019E

2018

2017

2016

2015

D3 2014

Likely

2013

Note : Data for 2017 represents the period from 1st April 2016 to 31st Ma rch 2017. Same goes for all the particular years.

Low

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Research Methodology

OPTIMISTIC

HIGH

4.8%

LIKELY 4.6%

4.5%

Factor 2

EXPECTED

Factor 1

4.7%

This scenario is characterized by moderate impact of economic and market growth factors on India electric motors market.

CONSERVATIVE

4.4%

4.3%

LOW

GROWTH FACTOR

This scenario is characterized by higher impact of economic and market growth factors on India electric motors market.

In this scenario, impact of economic as well as market growth factors is comparatively very low on India electric motors market.

Factor 3

IMPACT OF GROWTH DRIVERS Š T ec hSci Research

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Research Methodology OBJECTIVE: The primary objective of the study is to understand the scenario for electric motors market in India.

APPROACH & SOURCES: In order to extract, analyze and project India electric motors market, both top-down and bottom-up approaches were used. Multiple employees from follow ing companies were interviewed through telephonic as well as face-to-face meetings in order to extract and verify collected information.

Companies and Organizations Interviewed CG Power And Industrial Solutions Limited

Kirloskar Electric Company Ltd.

Bharat Heavy Electricals Ltd.

Bharat Bijlee Limited

ABB India Ltd.

Regal Beloit Corporation (Marathon Electric)

GE Power India Limited

Elgi Electric and Industries Limited

Siemens Ltd.

WEG Industries (India) Pvt. Ltd.

TechSci Research has scrutinized various published documents from follow ing key sources to fill data gaps and verify information collected through primary research surveys.

Secondary Sources IEEMA

Directorate General of Foreign Trade

Indian Economic Outlook by World Bank

Ministry of Housing and Urban Affairs

International Energy Agency (IEA)

Electric motors Companies Annual Reports

Ministry of Commerce and Industry

Electric Motors Energy Efficiency Reference Guide

World Economic Outlook Database

International Monetary Fund

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Research Methodology The study has been carried out considering various aspects of India electric motors m arket: ➢ In the beginning of India electric motors market study, a brief study was conducted to understand each aspect of market such as drivers, challenges, market trends and various other major factors affecting the market. Moreover, an in-depth analysis was conducted to understand India electric motors market scenario and to gauge the competitive scenario.

➢ Afterwards, a detailed scrutiny of applications, types and regional markets for electric motors market in India was conducted. In order to extract data for India electric motors market, primary research surveys were conducted with key opinion leaders and electric motor companies to understand historical and present trends. However, for forecasting India electric motors market, the following assumptions have been made:

▪

Growth in real estate infrastructure and construction of planned cities has been considered

▪

Grow ing electricity consumption and generation, and rapid industrialization in the country has been used to

estimate the market for electric motors in the country ▪

Various investor friendly initiatives of Government of India will lead to FDI.

➢ Considering these assumpt ions, our dedicated team of industry experts has comprehensively monitored and analyzed various aspects of electric motors market in India. Taking into consideration growing invest ments in the country, increasing penetration of foreign players, inception of foreign technology, new IPC policies and regulations, etc., our team of analysts has provided a prudent analysis of the industry’s performance and forecast a positive outlook for the industry.

© T ec hSci Research

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Industry Brief

India Electric Motors Market to Cross $ 2.25 Billion by 2023 According to TechSci Research report “India Electric Motors Market By Type, By End Use, By Application, Competition Forecast & Opportunities, 2013 - 2023’’, electric motors market in India is forecast to reach $ 2.25 billion by 2023. Government initiatives such as Smart City Mission, AMRUT, Make in India, etc.; increasing demand from tier II and tier III cities; and growing focus on energy efficiency are expected to result in augmenting demand for electric motors in the country over the coming years. Few of the leading players operating in India electric motors market include CG Power and Industrial Solutions Limited, Bharat Heavy Electricals Ltd. and ABB India. Recent implementation of GST is anticipated to help these organized players in increasing their market share over the next five years.

AC electric motors dominate the country’s electric motors market, as these motors are more efficient and are widely used in industrial and residential sectors. In 2017, industrial sector held the largest market share in terms of value and is expected to maintain its market dominance during the forecast period as well. The industrial compressors industry in India, valued at $ 673 million in 2018, is forecast to grow at a CAGR of 7% until 2023, thereby boosting demand for electric motors. In India, largest demand for electric motors is being witnessed in the western region, backed by increasing number of industries in the region. Moreover, growing number of government initiatives can be attributed to the region’s dominance in India electric motors market.

“As of 2018, under Smart City Mission, more than 50% of the work has been completed in 27 cities and rest is under implementation. Moreover, continuous growth is being witnessed in the construction sector in India and foreign players are making investments under the ‘Make in India’ initiative. All these developments are expected to positively influence the electric motors market in India during the forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

© T ec hSci Research

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Sample Data-Snapshot Figure 1: India Electric Motors Market Size, By Value, 2013-2023F

Figure 5: Urban Cities Proposed Under Housing

(USD Million)

for All Initiative in India, By Phase, As of 2017 CA GR 2019E2023F: X%

CA GR 2013-2018: X%

Phase-I

Phase-II

Phase-III

Figure 6: India Electric Motors Market Share, By End Use, By Value, 20132013

2014

2015

2016

2017

2018

2019E 2020F 2021F 2022F 2023F

Figure 9: India Green Building Projects, By Volume, 2014-2018E

2023F 4 0 .0 0%4 0 .0 0%4 0 .0 0%4 0 .0 0%4 0 .0 0%4 0 .0 0%4 0 .0 0%4 0 .0 0%4 0 .0 0%4 0 .0 0%4 0 .0 0%

(Number of Projects) 3 0 .0 0%3 0 .0 0%3 0 .0 0%3 0 .0 0%3 0 .0 0%3 0 .0 0%3 0 .0 0%3 0 .0 0%3 0 .0 0%3 0 .0 0%3 0 .0 0%

CAGR X%

2 0 .0 0%2 0 .0 0%2 0 .0 0%2 0 .0 0%2 0 .0 0%2 0 .0 0%2 0 .0 0%2 0 .0 0%2 0 .0 0%2 0 .0 0%2 0 .0 0% 1 0 .0 0%1 0 .0 0%1 0 .0 0%1 0 .0 0%1 0 .0 0%1 0 .0 0%1 0 .0 0%1 0 .0 0%1 0 .0 0%1 0 .0 0%1 0 .0 0% 2013

2014

2015

2016

2017

2018E

Figure 14: India Electric Motors Market Attractiveness Index, By Region,

By Value, 2019E-2023F 10.00% 9.00%

Northern Region

8.00% 7.00% Southern Region

6.00%

5.00% Western Region

4.00%

3.00% 1.00%

0.00% 0.00

1.00

2.00

3.00

4.00

2017 2018 Residential

2019E 2020F 2021F Commercial

2022F 2023F Industrial

Figure 11: India Electric Motors Market Share, By Company, By Value, 2018 CG Power And Industrial Solutions Limited, 10.00%

Others, 10.00%

Bharat Heavy Electricals Ltd., 10.00%

WEG INDUSTRIES (INDIA) PVT. LTD., 10.00%

Marathon Electric, 10.00%

Kirloskar Electric Company Ltd., 10.00%

Eastern Region

2.00%

2014 2015 2016 Transportation

2018

ABB India, 10.00%

Siemens Ltd., 10.00% Bharat Bijlee Limited, 10.00%

GE Power India Limited, 10.00%

Source: XXXXX 5.00 Note: These are dummy figures; please purchase our report for actual data

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state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.

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Disclaimer : The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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