The UAE electric motor market reached a value of US$ 198 Million in 2018. 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. Looking forward, IMARC Group projects the market to reach a value of US$ 298 Million by 2024, growing at a CAGR of around 6.2% during 2019-2024.
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.
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