India Electric Motors Market By Type (AC Motors Vs. DC Motors), By End Use (Residential, Commercial, Industrial & Transportation), By Application (Pumps, Compressors, Mechanical Movement & Others), Competition Forecast & Opportunities, 2013 - 2023
According to “India Electric Motors Market By Type, By End Use, By Application, Competition Forecast & Opportunities, 2013 - 2023” electric motors market is projected to surpass $ 2.25 billion by 2023. Anticipated growth in the market can be attributed to increasing number of industries and construction activities in the country, in addition to growing government focus towards adoption of energy efficient motors. Moreover, rising population in tier II and tier III cities, increasing urbanization, and government initiatives such as Make in India, Smart City Mission, affordable housing, AMRUT, etc., are expected to positively influence the electric motors market in India during forecast period. Few of the major players operating in India electric motors market are CG Power and Industrial Solutions Limited, Bharat Heavy Electricals Ltd., ABB India Ltd., Siemens Ltd., GE Power India Limited, Bharat Bijlee Limited, Kirloskar Electric Company Ltd., Regal Beloit Corporation (Marathon Electric), WEG Industries (India) Pvt. Ltd., Elgi Electric and Industries Limited, etc. “India Electric Motors Market By Type, By End Use, By Application, Competition Forecast & Opportunities, 2013 - 2023” discusses the following aspects of electric motors market in India:
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