Dublin, Jan. 10, 2025 (GLOBE NEWSWIRE) -- The "Thailand Electric Motor Market | Growth, Outlook, Revenue, Share, Segmentation, Analysis, Value, Trends, Size, Industry: Market Forecast By Motor Type, By Voltage Range, By Application And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Thailand Electric Motor Market revenue is projected to grow at a CAGR of over 3.7% during 2024E-2030F.
The Thailand Electric Motor market has seen significant development over the years, driven by industrial growth, infrastructure development, and advancements in various sectors such as automotive, HVAC, power generation, and consumer appliances. Thailand is often referred as the "Detroit of Asia" because of its strong automotive and manufacturing industry.
During the 2000s and 2010s, the demand for brushed DC motors, induction motors, and permanent magnet motors grew significantly as automotive production, particularly for internal combustion engine (ICE) vehicles, expanded. During the COVID-19, the HVAC sector saw a rise in demand for air conditioning, ventilation, and air purification systems, but the automotive sector faced a sharp decline in production and sales due to supply chain disruptions, reduced consumer demand, and factory closures. Despite the downturn, the pandemic accelerated the global shift towards electric vehicles (EVs) and demand for BLDC and AC induction motors rises.
The market in the coming future would witness healthy growth on the back of government initiatives such as Thailand 4.0 and Eastern Economic Corridor (EEC) through advanced manufacturing, electric vehicle (EV) production, smart cities, and renewable energy projects. The Energy Efficiency Plan (EEP) promotes the use of IE3 and IE4 electric motors as a key strategy for improving energy efficiency and reducing electricity consumption across various industries.
The Thailand's EV 3.5 Package is a government initiative aimed at boosting the adoption and production of electric vehicles (EVs), which in turn drives the demand for electric motors like brushless DC (BLDC) and AC induction motors. By promoting local production of electric motors and providing subsidies and tax incentives for EV manufacturing, the package is expected to strengthen Thailand's position as a key player in the global EV market.
Market Segmentation By Voltage
Low-voltage motors in Thailand maintain a dominant market position over medium and high-voltage motors due to their affordability in both initial investment and installation. Their extensive use ensures easy access to parts and repair services, reducing downtime and maintenance costs. While medium and high-voltage motors will experience growth in niche, high-power applications, they are unlikely to surpass the broad adoption of LV motors.
Market Segmentation By Application
The HVAC sector in Thailand commands a leading position in the electric motor market, surpassing other sectors due to its extensive application beyond residential and commercial spaces The adoption of advanced technologies such as smart HVAC systems, variable frequency drives (VFDs), and IoT-enabled controls drives demand for high-performance electric motors. While sectors like automotive, industrial processes, and power generation will experience notable growth.
Market Segmentation By Motor Type
AC motors dominate Thailand's electric motor market, driven by their versatility, cost-effectiveness, and energy efficiency. With fewer components and lower maintenance needs compared to DC motors, AC motors help reduce operational costs and downtime, making them the preferred choice for industries prioritizing reliability and efficiency. While DC motors are gaining traction in specialized high-tech applications, they are expected to remain a secondary option to AC motors in the broader market.
Key Highlights of the Report:
- Thailand Electric Motor Market Overview
- Thailand Electric Motor Market Outlook
- Thailand Electric Motor Market Forecast
- Thailand Electric Motor Market Porter's Five Forces Analysis
- Thailand Electric Motor Market Industry Life Cycle Analysis
- Historical Data and Forecast of Thailand Electric Motor Market Revenues and Volume, for the Period 2020-2030F
- Market Drivers and Restraints
- Historical Data and Forecast of Thailand Electric Motor Market Revenues and Volume, By Motor Type, for the Period 2020-2030F
- Historical Data and Forecast of Thailand Electric Motor Market Revenues, By Voltage Range, for the Period 2020-2030F
- Historical Data and Forecast of Abu Dhabi Wholesale Market Revenues, By Application, for the Period 2020-2030F
- Key Performance Indicators
- Market Opportunity Assessment
- Key Strategic Recommendations
Company Profiles
- ABB Thailand
- Siemens Limited Thailand
- Weg SA
- Panasonic (Thailand) Co., Ltd
- Mitsubishi Electric Corporation
- Emerson Electric Ltd
- Toshiba Asia Pacific Pte. Ltd.
- Fuji Electric (Thailand) Co., Ltd.
- Nmb Minebea Thai Ltd.
- Kusatsu Electric (Thailand) Co, Ltd.
Key Topics Covered:
1 Executive Summary
2 Introduction
2.1 Key Highlights of the Report
2.2 Report Description
2.3 Market Scope & Segmentation
2.4 Research Methodology
2.5 Assumptions
3 Thailand Electric Motor Market Overview
3.1. Thailand Electric Motor Market Revenues and Volume, 2020-2030F
3.2. Thailand Electric Motor Market - Industry Life Cycle
3.3. Thailand Electric Motor Market - Porter's Five Forces
4 Thailand Electric Motor Market Dynamics
4.1. Impact Analysis
4.2. Market Drivers
4.3. Market Restraints
5 Thailand Electric Motor Market Trends and Evolution
6 Thailand Electric Motor Market Overview, By Motor Type
6.1 Thailand Electric Motor Market Revenue Share and Revenues, By Motor Type, 2023 & 2030F
6.1.1 Thailand Electric Motor Market Revenues, By Alternate Current (AC) Motor, 2020-2030F
6.1.2 Thailand Electric Motor Market Revenues, By Direct Current (DC) Motor, 2020-2030F
6.2 Thailand Electric Motor Market Volume Share and Volume, By Motor Type, 2023 & 2030F
6.1.1 Thailand Electric Motor Market Volume, By Alternate Current (AC) Motor, 2020-2030F
6.1.2 Thailand Electric Motor Market Volume, By Direct Current (DC) Motor, 2020-2030F
7 Thailand Electric Motor Market Overview, By Voltage Range
7.1 Thailand Electric Motor Market Revenue Share and Revenues, By Voltage Range, 2023 & 2030F
7.1.1 Thailand Electric Motor Market Revenues, By Low Voltage (0 -1000V), 2020-2030F
7.1.2 Thailand Electric Motor Market Revenues, By Medium Voltage (1000.1V-5000V), 2020-2030F
7.1.3 Thailand Electric Motor Market Revenues, By High Voltage (5000.1V & above), 2020-2030F
8 Thailand Electric Motor Market Overview, By Application
8.1 Thailand Electric Motor Market Revenue Share and Revenues, By Application, 2023 & 2030F
8.1.1 Thailand Electric Motor Market Revenue Share and Revenues, By Industrial Process, 2020-2030F
8.1.2 Thailand Electric Motor Market Revenue Share and Revenues, By Automotive, 2020-2030F
8.1.3 Thailand Electric Motor Market Revenue Share and Revenues, By Heating Ventilating And Cooling (HVAC) Equipment, 2020-2030F
8.1.4 Thailand Electric Motor Market Revenue Share and Revenues, By Power Generation, 2020-2030F
8.1.5 Thailand Electric Motor Market Revenue Share and Revenues, By Consumer Appliances, 2020-2030F
8.1.6 Thailand Electric Motor Market Revenue Share and Revenues, By Others, 2020-2030F
9 Thailand Electric Motor Market - Key Performance Indicators
10 Thailand Electric Motor Market - Opportunity Assessment
10.1. Thailand Electric Motor Market Opportunity Assessment, By Motor Type, 2030F
10.2. Thailand Electric Motor Market Opportunity Assessment, By Voltage Range, 2030F
10.3. Thailand Electric Motor Market Opportunity Assessment, By Application, 2030F
11 Thailand Electric Motor Market Competitive Landscape
11.1 Thailand Electric Motor Market Revenue Share, By Companies, 2023
11.2 Thailand Electric Motor Market Competitive Benchmarking, By Technical Parameters
11.3 Thailand Electric Motor Market Competitive Benchmarking, By Operating Parameters
For more information about this report visit https://www.researchandmarkets.com/r/egl8ry
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