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Electric Motor Production Business

Tuesday, September 25, 2018

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Electric Motor Production Business. Industrial Motor Manufacturing Industry

India Electric Motors Market to Cross $ 2.25 Billion by 2023

Electric motor is the electro-mechanical machine which converts the electrical energy into mechanical energy. In other words, the devices which produce rotational force is known as the motor. The working principle of the electric motor mainly depends on the interaction of magnetic and electric field. The electric motor is mainly classified into two types. They are the AC motor and the DC motor. The AC motor takes alternating current as an input, whereas the DC motor takes direct current.

Advantages of Electric Motors:

Electric motors have a number of advantages when compared to traditional engines. The initial cost of an electric motor is much lower than a fossil-fuel engine with the same horsepower rating. Electric motors have relatively few moving parts, which means they have a longer lifespan. Typically, an electric motor that is properly maintained offers up to 30,000 hours of operating life without needing major repairs. Overall, electric motors require minimal maintenance service.

Additionally, electric motors are highly efficient, and automated controls allow for automatic and remote start and stop functions. Electric motors don’t require fuel, so there is no engine oil maintenance or battery service, and they don’t freeze in sub-zero temperatures.

Low Initial Cost -The initial cost of an electric motor is considerably lower than a fossil-fuel engine with the same Output Horsepower Rating (in nearly every case).

Long Life -Because electric motors contain relatively few moving parts, they have extensive operational life spans. For instance, an appropriately selected and maintained electric motor offers up to 30,000 hours of operating life without major repairs. (This is the approximate equivalent of 3½ years of perpetual usage.)

Low Maintenance Requirements -Electric motors are durable and have extensive operating life and minimal service requirements.

High Efficiency -Electric motors are highly-efficient with ratings that range from 50% to 95% (depending on the motor's size and operating conditions).

Automated Control -Automated controls are easily installed to operate electric motors, providing the versatility of automatic and remote Start/Stop functions.

No Fossil Fuels -They require NO fuel, engine oil maintenance, battery service, and do NOT freeze in sub-zero temperatures.

Labor Cost Savings -Electric motors reduce requirements for labor due to lower maintenance and easier control which ultimately makes production more profitable by reducing costs).

Occupational Safety -Motors contribute to the safety of the work environment, emitting little noise, NO exhaust, and without flammable fuels.

Market Outlook

Electric motors are the essential of every industry in India. AC and DC type electric motors are integral parts of Electric equipment industry in India. However the electric motors also use for domestic purpose. Agriculture and industrial sectors are the main consumers of Electric motor Industry in India consuming more than 75 percent of consumption.

India electric motors market is driven by growing awareness towards energy conservation, surging acceptance of electric vehicles, and improving industrial infrastructure in the country. The market is further fuelled by growing HVAC industry, rapid urbanization, and stringent regulations toward power consumption. Electric motors are attributable to nearly 30% of the power consumption in the industries. Manufacturers are continuously coming up with product innovation and improved technologies in motor drives. Energy efficient motor is the upcoming trend in the electric motors market.

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.

India electric motors market is projected to surpass $ 2.25 billion by 2023. Anticipated growth in the market can be attributed to increasing number of industries and construction activities in the country, in addition to growing government focus towards adoption of energy efficient motors. Moreover, rising population in tier II and tier III cities, increasing urbanization, and government initiatives such as Make in India, Smart City Mission, affordable housing, AMRUT, etc., are expected to positively influence the electric motors market in India during forecast period.

Global Electric Motors Market

The global electric motors market is expected to face significant rise in the coming years due to its uses in broad range of commercial, residential, and industrial applications. These applications generally comprises of refrigerators, elevators, compressors, pumps, fans, and various other systems. Rise in stringent regulations regarding electricity consumption is boosting the growth of the market. Increasing need to reduce the gas effects of green house is bolstering the global market growth. Positive outlook of the manufacturing industries have the potential to boost the market growth of electric motors.

Since electric motor is the most important component used in production of heating, ventilating, and cooling equipment of motor vehicles, it is being majorly demanded in the market. It also finds applications in various home appliances. Rise in earning level leading to increasing disposable income is majorly boosting the demand for global electric motors market. This has led to improved standards of living which is also supplementing the market growth. Optimizing electrical consumption by using energy efficient electric motors is minimizing financial burden on government and consumers.

The global electric motors market is anticipated to attain a valuation of US$ 120.68 bn by the end of 2019.

On the basis of output power capacity, the global electric motors Market is segmented into fractional horsepower and integral horsepower motors. Of these, fractional horsepower segment lead in the market. However it is estimated that the integral horsepower motors will witness a rapid growth in terms of CAGR in the years to come. The main reason behind the high demand for integral horsepower motors is stringent electricity consumption rules. The growing importance of Energy Efficiency will create a heightened demand for energy-efficient electric motors within industrial sectors.

The electric motor market in the Asia-Pacific region is primarily driven by a number of factors, such as economic growth in the emerging nations, increasing penetration of electric vehicles, and rising industrial activities. Moreover, the demand for energy-efficient electric motors from the oil & gas production sites apart from the residential and commercial sector in the Asia-Pacific region has seen an unprecedented increase during the past few years and is expected to increase further during the forecast period. Furthermore, industries, such as automotive, chemical, fertilizers and petrochemical are witnessing steady growth in the region, which is expected to offer tremendous growth opportunity for the global electric motor players in the Asia-Pacific region.

The usage of types of motors in any application depends on the requirements of the application. Therefore, the introduction of advanced electric motors has increased the popularity of high-tech equipment such as robots and electric cars. Moreover, the global electric motor market is segmented based on the output power of the electric motor and their applications in end-user industries such as industrial machinery, transportation, motor vehicles, household appliances, and heating ventilation & air conditioning.

With the automobile industry making huge investments to cater to stringent pollution standards, the electric vehicle industry is set to grow exponentially, paving an opportunistic way for electric motors industry participants. These stringent regulations regarding curbing CO2 emissions will impact the industry growth positively. OEMs are pushed to reduce their fleet emissions that will be challenging along with ICE optimization. Achieving these targets after 2020 will require electrification, thereby strengthening the product penetration. However, operational & supply chain issues may act as challenge to the industry participants. These issues may include product delivery mismanagement or difference in expectations of manufacturer & customer regarding service quality. Probability of product failure due to overheating and low resistance is another factor negatively impacting the industry growth.

Shifting consumer preference towards solar powered consumer goods has instigated immense potential to the industry size. These products have gained traction owing to provision of the benefits such as product efficiency and low power consumption. U.S. department of Energy (DOE) is making huge investments for development of superior efficiency products and promoting solar energy usage. Their rising usage has accelerated the electric motors production, thereby supporting the high revenue generation till 2024.

The rising fuel prices and pollution has led to an increasing demand for electric vehicles in developed and emerging economies such as Germany, the U.S., China and Japan. Moreover, the adoption of electric motors in the automotive industry has risen considerably owing to the advent of low-cost and highly efficient electronics coupled by improvements in permanent magnetic materials.


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