According to the latest report by IMARC Group, “UAE Electric Motor Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the UAE electric motor market reached a value of US$ 198 Million in 2018. An electric motor is an electro-mechanical machine that produces mechanical energy from electrical energy. It can be operated by direct current (DC) sources, such as solar cells or batteries, or by alternating current (AC) sources, which includes generators or inverters. Electric motor is extensively used in modern-day life, such as in dishwashers, blowers, cars, vacuum cleaners, computer printers, machine tools, water pumps, printing presses and many more.
On account of rising energy consumption in the region, the UAE government is planning to increase its target for power generation to more than 27 per cent by 2024. As electric motors are extensively used in the power generation, this is projected to drive the demand for electric motors in the country. Additionally, expanding applications of pumps and compressors in the desalination, water and wastewater sectors are anticipated to facilitate the electric motor market. Moreover, government initiatives aimed at promoting the adoption of electric vehicles among the consumers represents another major market driver. As a result, the market is expected to reach a value of US$ 298 Million by 2024, growing at a CAGR of around 6.2% during 2019-2024.
The report has segmented the UAE electric motor market on the basis of application. Some of its major applications are found in pumps and fans, compressors and others. The market is also segmented on the basis of end-use, covering HVAC, oil and gas, food and beverage, mining, water and utilities, and others. Based on efficiency, the market is segmented into IE2, IE3, IE1 and IE4. An analysis of the competitive landscape provides the details of the key players operative in the market. Some of the major players are ABB, Siemens, WEG Industries, NIDEC Corporation and TECO Middle East Electrical & Machinery Co. Ltd.
This report provides a deep insight into the UAE electric motor industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up an electric motor manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the UAE electric motor industry in any manner.
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