The new report, Motors Market in
India, states that expansion in the Indian power 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.
To
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Key hubs for the production of
motors are concentrated in selected regions of the country. Domestic demand for
motors also varies across the regions.
Export 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.
The development of the motors market
is supported by rise in Infrastructure investments in India. Industrial sector
growth sector is also expected to stimulate the demand for motors. Developments
in the power sector will enhance the requirement of motors. Growth in consumer
durables will also aid the sustainable development of the Indian motors
industry. Increase in usage of pumps in the agricultural sector will drive the
demand for motors in the market. Robust automotive sector in India will fuel
the demand for motors in the domestic market. Healthy economic outlook of the
Indian economy will support the
development of the domestic motors
market.
However, the industry has also some
pain points. A volatile raw material price deters the development of the
market. Lack of capacity utilization presents significant hindrance to the
growth of the industry. Price sensitive consumer base adversely affects market
growth.
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