India Electric Motor Market Demand, Size, Share, Growth and Report

According to the report by Expert Market Research (EMR), the India electric motor market size attained a value of INR 118.30 billion in 2024. Aided by the growing demand for energy-efficient solutions, the rising industrialization, and the increasing adoption of electric vehicles (EVs), the market is projected to further grow at a compound annual growth rate (CAGR) of 11% between 2025 and 2034, reaching a value of INR 302.6 billion by 2034.

Electric motors are devices that convert electrical energy into mechanical energy, playing a crucial role in various applications across industries such as automotive, industrial machinery, HVAC, and consumer electronics. They are a key component in driving the advancement of modern technologies, particularly in sectors aiming for increased energy efficiency and sustainability. The market for electric motors in India is expected to grow significantly due to the country’s push toward electrification, government incentives for electric vehicles, and the broadening industrial base.

This article examines the key drivers and trends that are influencing the growth of the electric motor market in India, the technological advancements shaping the industry, the segmentation of the market, and the future prospects of the sector.

Key Market Drivers

One of the primary factors contributing to the rapid growth of the India electric motor market is the increased focus on energy efficiency and sustainability. As the country faces mounting energy demand and environmental challenges, energy-efficient solutions are becoming a central component of its industrial and infrastructure development. Electric motors are widely regarded as more efficient and environmentally friendly compared to traditional internal combustion engines. They help reduce energy consumption, making them a critical solution in various sectors looking to improve operational efficiencies.

The growing industrialization of India is another key driver for the electric motor market. As the nation continues to urbanize, the demand for industrial machinery and automation has surged. Electric motors are indispensable in a wide range of industries, including manufacturing, mining, water management, and agriculture. With the government’s focus on enhancing the manufacturing sector under initiatives like the "Make in India" program, the demand for electric motors is expected to increase in various industrial applications, where motors power machines and processes that drive economic growth.

Furthermore, the rising adoption of electric vehicles (EVs) is significantly influencing the India electric motor market. The government’s push for cleaner and greener alternatives to traditional gasoline and diesel vehicles, in the form of incentives, subsidies, and the development of EV infrastructure, is accelerating the adoption of EVs. Since electric motors are the heart of electric vehicles, the growing adoption of electric cars, buses, and two-wheelers in India is set to create a robust demand for motors specifically designed for automotive applications. India’s transition toward a greener and more sustainable transportation system is a significant contributor to the expanding electric motor market.

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Technological Advancements and Innovations

The India electric motor market is experiencing rapid technological advancements that are helping meet the growing demand for energy-efficient solutions. One of the most significant trends in the industry is the development of high-efficiency motors. These motors consume less electricity and offer improved performance, which is crucial for industries and consumers looking to reduce their energy costs and environmental impact.

One such innovation is the development of Permanent Magnet Synchronous Motors (PMSMs), which are gaining popularity in automotive and industrial applications due to their efficiency, compact size, and enhanced performance. PMSMs are highly efficient at converting electrical energy into mechanical energy, making them ideal for electric vehicles, HVAC systems, and industrial robots. The demand for PMSMs is expected to rise as industries seek high-performance, energy-efficient solutions for their operations.

Another important innovation in the electric motor market is the integration of Internet of Things (IoT) technology in motor systems. IoT-enabled motors allow real-time monitoring of motor performance, predictive maintenance, and enhanced operational efficiencies. With IoT integration, users can optimize their energy consumption, minimize downtime, and extend the lifespan of motors. This is particularly important for large-scale industrial operations, where unplanned downtime can be costly. The adoption of smart motors is expected to play a pivotal role in enhancing the competitiveness of businesses and reducing operational expenses.

Furthermore, sensor-based technologies are being incorporated into electric motors to improve their efficiency and control. These sensors can monitor various parameters such as temperature, vibration, and speed, ensuring that the motors operate within optimal conditions and preventing potential failures. The integration of such technologies aligns with the growing trend of automation and digitalization across industries, further driving the growth of the electric motor market in India.

India Electric Motor Market Segmentation

The market can be divided based on by type, by voltage, rated power, weight, by speed, by magnet type, application, end – use and region.

Breakup by Type

AC
DC
Others

Breakup by Voltage

Low Voltage
Medium Voltage
High Voltage

Breakup by Rated Power

Fractional Horsepower Motors
Integral Horsepower Motors

Breakup by Weight

Low
Medium
High

Breakup by Speed

Low Speed
Medium Speed
High Speed
Ultra-High Speed

Breakup by Magnet Type

Ferrite
Neodymium (NdFeB)
Samarium Cobalt (SmCo5 and Sm2Co17)

Breakup by Application

Fans
Pumps
Compressors
Mechanical Movement
Others

Breakup by End Use

Residential
Commercial
Industrial
Transportation
Others

Breakup by Region

North
South
East
West

Competitive Landscape

Some of the major players explored in the report by Expert Market Research are as follows:

Hindustan Electric Motors
ABB India Limited
Siemens Limited
Bharat Heavy Electricals Ltd (BHEL)
Kirloskar Electric Company
Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC)
Marathon Electric India
Bharat Electric Motors
Bharat Bijlee Limited
Others

Challenges and Opportunities

Despite the promising growth prospects, the India electric motor market faces several challenges. One of the major challenges is the high cost of high-efficiency motors, which can deter small and medium-sized enterprises from adopting the latest technologies. Additionally, supply chain constraints, particularly for raw materials like copper and rare-earth metals, can disrupt motor production, potentially leading to price fluctuations.

However, these challenges also present opportunities for innovation and growth. With the push toward more energy-efficient and cost-effective solutions, manufacturers have the chance to develop affordable, high-performance motors that cater to the needs of a diverse range of consumers. Furthermore, as the electric vehicle market continues to expand, there is a significant opportunity to develop motors tailored specifically for electric vehicle applications, offering manufacturers a lucrative market segment.