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The UAE electric motor market reached a value of US$ 22.5 Million in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 7% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
An electric motor is a type of electromechanical device that converts electrical energy into mechanical energy. It operates on the electromagnetic induction principle, which states that a current-carrying conductor is set to experience a force in the presence of a magnetic field. Electric motors offer long operating life, high tolerance for fluctuating voltages, low energy consumption, and require little maintenance. Owing to such beneficial properties, electric motors are extensively used in industrial machinery, motor vehicles, household appliances, heating, ventilating, and air-conditioning (HVAC) equipment, and aerospace and transportation sectors. In the UAE, the market for electric motors has been exhibiting potential for significant growth as there has been a rise in the purchasing power of consumers led by the increasing per capita income.
Over the past few years, electric motors have found applications in the water and wastewater sectors across the UAE. Moreover, there have been several initiatives undertaken by the government to promote the production and sales of electric vehicles (EVs) in the country due to a rise in environmental concerns. For instance, the Road Transport Authority (RTA) and Dubai Electricity and Water Authority (DEWA) have entered into a partnership to encourage the EV market by installing charging stations and offering incentives, such as free parking and toll and registration fees exemption. The resulting penetration of EVs would have a positive impact on the growth of the electric motors in the country. Besides this, a rapid rise in oil prices is further prodding consumers in the UAE toward electric vehicles. Owing to this, international industry players are currently investing in the establishment of production facilities in the country to expand their consumer base for electric cars. Such establishments and expansions are further expected to impel the production volumes of electric motors in the country.
Breakup by Efficiency:
At present, high efficiency electric motors account for the largest demand segment in the country.
Breakup by End-Use Industry:
Currently, HVAC is the most prominent end user in the market, accounting for the majority of the total market share.
Breakup by Application:
Presently, electric motors are majorly employed in pumps and fans in the UAE.
The report has also analyzed the competitive landscape of the market with detailed profiles of some of the key players operating in the industry.
The UAE electric motor market was valued at US$ 22.5 Million in 2020.
We expect the UAE electric motor market to exhibit a CAGR of around 7% during 2021-2026.
Rapid industrialization, along with the increasing demand for high-efficiency electric motors, are some of the factors catalyzing the UAE electric motor market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations in the UAE resulting in temporary halt in the manufacturing processes and disrupted supply chains for electric motors.
Based on the efficiency, the UAE electric motor market can be segmented into standard efficiency, high efficiency, premium efficiency, and super premium efficiency, where high efficiency electric motors currently account for the highest market share in the UAE electric motor market.
Based on the end-use industry, the UAE electric motor market has been divided into HVAC, oil and gas, food, beverage and tobacco, mining, water and utilities, and others. Among these, the HVAC sector currently exhibits a clear dominance in the market.
Based on the application, the UAE electric motor market can be segregated into pumps and fans, compressors, and other applications. Currently, pumps and fans account for the largest market share.
Some of the major players in the UAE electric motor market include ABB, Siemens, WEG Industries, NIDEC Corporation and TECO Middle East Electrical & Machinery Co. Ltd.
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