Expansion in Indian Power Sector Fuelling Growth of the Indian Motors Market

Online, July 24, 2013 (Newswire.com) - Global market intelligence firm Netscribes, Inc. has released its latest report on the 'Motors Market in India 2013'. According to the report, robust growth of the end user industries is expected to accelerate the demand for motors in the Indian market.

The new report states that expansion in the Indian electrical equipment sector will drive the demand for motors in the Indian market. Motors are a part of the transmission and distribution equipment industry. The Indian motors industry is characterized by the presence of a diverse product range and is a highly fragmented market.

Key hubs for the production of motors are concentrated in selected regions of the country. Domestic demand for motors also varies across regions.

Export and import of motors in terms of volume and value varies across the different motor segments. Some specific segments of motors are witnessing a decline in import dependence while some are primarily import intensive.

There are several factors that contribute to the growth of the motor sector. This includes rise in infrastructure investment, industrial sector growth, developments in the electrical equipment sector, growth in consumer durables, increasing usage of pumps in the agricultural sector, robust automotive sector, and healthy economic outlook of the Indian economy.

However, there are certain areas that trouble the industry. A volatile raw material price deters the development of the market. Lack of capacity utilization presents significant hindrance to the growth of the industry, which is further complicated by a price sensitive consumer base adversely affecting the market.

The motor industry in India is witnessing a surge in demand for energy efficient motors. Provision for adequate customer services is being seen as the key focus area for the players operating in the market.