Project report for A.C Motor Manufacturing

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Introduction

The Indian electric motor market is highly fragmented, featuring a large number of local and international players.  Product quality is a primary parameter for differentiation in this market. The organized sector in the market mainly targets industrial buyers and maintains excellent product quality, while the unorganized sector offers low-cost alternatives to tap local markets. Local manufacturers of electric motors in most countries target the unorganized sector and compete strongly with the global suppliers in the respective markets. Electric motors are used in various end user applications owing to their compactness, light weight, and low maintenance requirements. The installation of electric motors in industrial and transportation end user applications is expected to show high growth. The electric motor converts electrical energy into mechanical energy. Its components include rotor, bearings, stator, air gap, windings and commulator. Factors such as angular movement, torque requirement, speed and control make AC motors an ideal choice for robotic system manufactures. AC motors can be developed through integration of electronic hardware and sensor that offers predictive maintanance and reduce downtime during maintanance. The working principle of the electric motor mainly depends on the interation of magnetic and electric field. The electric motor is mainly classified into two types. They are AC motor and DC motor. The AC motor takes alternating current as an input, whreas the DC motor take direct current. The rise in demand for superior machine control in automative industry , owning to the high efficiency of AC synchonous motor fuels the electric motor market growth. The electrisity and electrical equipment play a vital role in every inch of our life. AC motor created a giant leap to the mankind in both domestic and industrial sector. The main factor which lead to the adoption and wide usage in various fields is its flexibility.

Market potential & Strategy

Indian Electric Motor market is projected to grow at a CAGR of 5.9% during the financial year 2020-2026. The growing acceptance of electric vehicles is catalyzing te growth of the electric motor market size globally and in India as well. AC electric motors segment captured the majority of the revenue share in 2019 of Indian electric motors market overviews and is projected to dominate during the forecast period as well.

Indian electric motors market reached a value of  INR 8600.5 Crores in 2020 - 2022. Anticipated growth in the market can be attributed to increasing number of industries and constraction activities across the country , in addition to growing government focus towards adoption of energy efficient motors. Electric motor market is highly fragmented in India with presence of a large number of players. The market is competative due to the presence of un-organized players in the industry. Recent implementation on GST is anticipated to help organised players in increasing their market share over the next five year.

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