Indonesia Electric Motors Market to Witness 3% CAGR through 2020
Favorable government initiatives coupled and increasing industrialization to drive electric motor sales in Indonesia
According to recently published TechSci Research report,“Indonesia Electric Motors Market Forecast and Opportunities, 2020”, the electric motors market in Indonesia is projected to grow at a CAGR of over 3% during 2015-20. Growth in the market is expected to be driven by anticipated rise in adoption of energy efficient electric motors, high industrial growth coupled with favorable government initiatives such as establishing 36 industrial hubs in various geographical locations of the country in the coming years.
Demand for electric motors has been growing in various applications in industrial sector (power machinery, conveyers, compressed air delivery, fans and pumps, etc.), residential and commercial buildings (air-conditioning systems, ventilation, compressors in heating, conveyors, pumps, fans lifts, etc.) and appliances (refrigerators, air conditioners, hard drives, cooking appliances, oven fans, extractor fans, garden appliances, pool pumps, personal computer and laptop fans, etc.). Electric motors are classified into two categories, namely, DC electric motors and AC electric motors, out of which, latter dominated Indonesia’s electric motors market in 2014 on account of increasing demand from commercial sector as well as food & beverage and tobacco industries.
Industrial sector, which is a major contributor in the country’s GDP, accounted for majority of demand for electric motors in 2014, and the sector is anticipated to continue its dominance during the forecast period as well. Region-wise, Java held the largest share in the country’s electric motors market in 2014, but is anticipated to witness a slight decline due to increasing government focus on developing other regions of the country. “Indonesian electric motor market is anticipated to witness new trends in terms of regional shifts on the account of various government initiatives to increase the manufacturing units in different geographical regions, except Java, which accounted for over 25% of the country’s manufacturing output in 2014.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Indonesia Electric Motors Market Forecast and Opportunities, 2020” has evaluated the future growth potential of electric motors market in Indonesia, and provides statistics and information on market structure, size, trends, etc. The report includes electric motors market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities prevailing in Indonesia electric motors market.