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
Š T ec hSci Research
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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.
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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.
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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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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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