Motors industry to grow at a CAGR of 5percent
The estimated size of Indian Rotating Machines industry is Rs 6,400 crore. Followed by 3-phase induction motors at Rs 2,300 crore and in capacity or mege watt (MW) terms it is 16,000 MW - about 12,500 MW motors manufactured in India and 3,500 MW of imports.
Motoring towards sustainable growth
Energy is an essential pillar of a growing economy, and therefore it becomes crucial that energy efficiency is tapped to its fullest potential in equipments and applications to curb energy costs. Moreover, for a fast growing economy like India, where power for all is still a dream, it is imperative to curtail energy wastes to the maximum extent possible.
Come up trumps with standards
Due to failure in adoption of global standards by manufacturers, Indian motor industry is losing ground to rising imports. Today, energy efficiency is of dominant importance due to the ever rising electrical energy demand, growing awareness about global warming, and fossil fuel prices threatening to spiral again.
Some companies are adopting global standards
Only about 10% of motor production in the country is adapted to IE2 & above level. The country is losing a great opportunity of energy conservation. With just shifting to IE2 level as mandatory, at current levels of motor production, in the fMEPSirst year itself India can save about Rs.500 crore.