The latest report by IMARC Group, titled “India Induction Motor Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the India induction motor market reached a value of US$ 606.2 Million in 2021. Induction motors are asynchronous motors that are used to carry smaller loads. The torque in the motor is produced by the reaction between the varying magnetic field generated in the stator and the current induced in the coils of the rotors. Induction motors are powerful and eco-friendly compared to conventional motors. They have the ability to operate in most environmental conditions and help save a substantial amount of energy. As a result, they are replacing DC motors which are used across various industries. For instance, induction motors find applications in compressors, fans, and other components in the manufacturing, aerospace and defense, and automotive industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India Induction Motor Market Trends:
The market is primarily driven by the increasing need for consumer electronics across the country. The rising population in India, coupled with rapid urbanization, is propelling the demand for appliances like air conditioners, dishwashers, hairdryers, and washing machines, thereby fueling the growth of the market. Besides this, the Government of India is implementing initiatives like “Make in India” to encourage automated processes in various manufacturing sectors. They are also imposing stringent policies to reduce the emission of greenhouse gases, which, in turn, is supporting the sales of induction motors as they consume lesser energy compared to conventional motors. Furthermore, advancements in the area of direct torque control (DTC), such as the introduction of intelligent controllers with artificial neural networks (ANN), have significantly influenced the performance of these motors. On account of these factors, the market is expected to reach a value of US$ 1,062.2 Million by 2027, exhibiting a CAGR of 9.6% during the forecast period (2022-2027).
- Based on the product type, the market has been segmented into three- and single-phase induction motors.
- On the basis of the end use sector, the market has been classified into industrial, commercial, and residential.
- Region-wise, the market has been divided into North India, West and Central India, South India, and East India.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players operative in the industry.
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