Bharat Heavy Electricals Ltd (BHEL), Hindustan Electric Motors, ABB India Limited, Siemens Limited, Bharat Electric Motors, Kirloskar Electric Company Ltd., Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC), Marathon Electric India, and Bharat Bijlee Limited, among others, are the major players in the Indian electric motor market.
The India electric motor market reached a value of about INR 86.5 billion in the 2018-2020 period. The industry is further expected to grow at a CAGR of about 11% in the forecast period of 2022-2027. As per the analysis by Expert Market Research, the market is expected to be driven by the rising use of the product in various industries.
Electro-mechanical devices, such as electric motors, operate on the principle of electromagnetic induction. They are highly efficient, long-lasting, low-maintenance, energy-efficient, and can endure strong voltage fluctuations. These are substantially less expensive than fossil-fuel engines.
The market growth is driven by the increased construction activity across the country. The market is also being aided by the government's current focus on adopting energy-efficient motors. The market is gaining momentum as the population of tier II and tier III cities is growing due to growing urbanisation. By implementing initiatives such as Make in India, Smart City Mission, AMRUT, affordable housing, and others, the government of India has played a significant role in the growth of this market. This is expected to boost the electric motor market in India during the forecast period.
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India's electric motor market is supported by the country's growing construction activity. The biggest markets for electric motors in India are Gujarat, Maharashtra, and Madhya Pradesh. These states have played a critical part in the market's income generation. In the forecast period, the market will be boosted by many government programmes such as the Green Energy Corridor in Gujarat, Maharashtra, and Madhya Pradesh.
Headquarters: New Delhi
BHEL is one of India's largest manufacturing and engineering enterprises in the infrastructure and energy sectors and a leading power equipment manufacturer. BHEL provides a comprehensive portfolio of systems, products, and services to customers in transmission, power, transportation, water, renewables, defence and aerospace, oil and gas, and industry. With a widespread network of four regional offices, 16 manufacturing facilities, three active joint ventures, one subsidiary, three overseas offices, BHEL manufactures a wide range of high quality and reliable products adhering to national and international standards.
Headquarters: Bengaluru, Karnataka
Kirloskar Electric Company is one of India's leading manufacturers of power and electrical equipment. Kirloskar Electric manufactures AC motors, DC machines, AC generators, traction equipment, electronics, switchgear, transformers and undertakes turnkey electrical projects. The company has built on its core capabilities of prime engineering and technological skills complemented by world-class manufacturing facilities. The company's products have made a significant contribution to India's rapidly growing economy.
Headquarters: Tokyo, Japan
TMEIC (Toshiba Mitsubishi-Electric Industrial Systems Corporation) designs, develops, and engineers’ large AC and DC motors, advanced automation systems, photovoltaic inverters, and variable frequency drives. TMEIC specialises in metals, material handling, oil and gas, renewable energy, mining, testing, and other industrial markets worldwide. The company also specialises in rotating machinery, automatic stacking cranes, design, build, commission and test, and drive and control upgrades, among others.
Headquarters: Wausau, Wisconsin, United States
Marathon Electric has been providing customers with quality products for targeted applications. The company has two strategic product lines: generators and motors. Marathon Electric is a part of the Regal Beloit family of companies. Regal Beloit Corporation is a global leader in electrical and mechanical motion control and power generation products.
Headquarters: Mumbai, Maharashtra
Bharat Bijlee is a public-listed electrical engineering company. Its primary business segments are projects, electric motors, transformers, magnet technology machines, and drives and automation. The company has a sales and service network across India and global markets. The company's manufacturing facilities are located in Airoli, Navi Mumbai, on a 1,93,000 square meters campus. It is the first company to manufacture Super Premium Efficiency IE4 motors in India under the brand name SynchroVERT.
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.