An electric motor is a device converting electrical energy into mechanical energy (usually a torque). This conversion is usually obtained through the generation of a magnetic field by means of a current flowing into one or more coils.
An electric motor turns because of magnetic force exerted between a stationary electromagnet called the stator and a rotating electromagnet called the rotor. Different types of electric motors are distinguished by how electric current is supplied to the moving rotor.
Tremendous technological advancements and the need for high efficiency motors are the two factors responsible for the growth of electric motors market in the past few years. Electric motors are widely used in motor vehicles, household appliances, material handling equipment, etc. An unmitigated increase in fuel prices coupled with the need to reduce air pollution has led to an increased preference for electric vehicles in several countries. This, in turn, is expected to upsurge the electric motor market. Premium efficiency motors are expected to gain traction in near future as they are low maintenance, consume low power and have many other unique features as well.
Based on type, the AC electric motors are smaller, cheaper and light in weight and are widely used in HVAC equipment. Hence, AC electric motors will dominate the electrical motor market. Thus, due to demand it is a good project for entrepreneurs to invest.
Few Indian major players are as under
· Associated Switchgears & Projects Ltd.
· Brook Crompton Greaves Ltd.
· Hyoseong Electric India Pvt. Ltd.
· Igarashi Motors India Ltd.
· Jem Industries Ltd.
· K B Autotech India Pvt. Ltd.
· Lakshmi Electrical Drives Ltd.