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Electric motors industry to be characterized by a cutthroat competitive scenario across a widespread regional landscape: India to stand tall as the next hotbed for market growth

In an era that has been consistently reiterating the significance of emission reduction, electric motors industry has indeed been occupying a pivotal stance in the global automotive space. Having recognized that fossil fuels are soon on their way to extinction, potential contenders across the global industrial realm have been scrupulously planning a future thriving on electricity sans fuel deployment. This pointer effectively justifies the hoopla generated around subjects such as reduced power consumption, energy conservation, optimized electricity usage, and the like. Reliable estimates convey that globally, electricity usage is likely to cross the astounding frontier of 35 trillion KWh by 2035, more than 25% of which has been projected to be consumed by electric motors. It is subsequently quite coherent that with the robustly increasing demand for electricity from every industrial domain, electric motors industry size is likely to depict an ascent. This presumption is amply validated by the forecast compiled by Global Market Insights, Inc., which claims electric motors industry size to have been pegged at USD 21 billion in 2016.

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