The Indian automotive motor market is projected to grow at a double-digit CAGR during the forecast period. Considerable prospects for the growth in the Indian automotive market can be witnessed during the forecast period which will augment the automotive motor market. The electric vehicle market in the country is at the nascent stage as most of the electric vehicles sold are two-wheelers & light commercial vehicles (E-rickshaw) and very few electric cars are on the road. With the new launch of EVs in the country, substantial growth is witnessed during the forecast period.
Browse the full report description of "India Automotive Motors Market Size, Share & Trends Analysis Report by Type (Brushless DC Motor & Stepper Motor, Brushed DC Motor, AC Induction Motor, and Others), By Vehicle Type (Passenger Vehicles, Commercial Vehicles, and Electric Vehicles) and by Distribution Channel (OEM and Aftermarket) Forecast, 2020-2026" at https://www.omrglobal.com/industry-reports/indian-automotive-motors-market
In April 2020, Bharat VI emission norms were introduced in the country. It has caused a price increase for the vehicle which will restrict the market growth however, on the other side, the stricter emission norms have opened new export markets for the companies from India. For instance, after the implementation of new Bharat VI norms, Honda Motorcycle and Scooter India (HMSI) has announced the export of its two-wheeler to developed economies also. As of August 2020, HMSI exports to Nepal, Sri Lanka, and Latin American countries which is only 6% of the total production of HMSI. With the increase in export from the country, the automakers are likely to create more demand for automotive motors and thereby creating a scope for the growth of the market over the forecast period.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected region/segment
India Automotive MotorMarket – Segmentation
By Type
By Vehicle Type
o Light Commercial Vehicles (LCVs)
o Heavy Commercial Vehicles (HCVs)
o Others (Buses & Coaches)
o Battery Electric Vehicles (BEVs)
o Plug-in Electric Vehicles (PEVs)
o Hybrid Electric Vehicles (HEVs)
By Distribution Channel
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