The global pandemic may have slowed Syrma’s plans, but the manufacturer has seen steady growth after re-starting its operations from July last year. The Rs 75-crore investment committed through an MoU with the TN government at the Global Investors Meet is being fulfilled, said its CEO, Sreeram Srinivasan.
Manufacturers across the industrial and automotive sectors are rapidly migrating to brushless DC motors (BLDCs) for precisely controlled motor operation, improved performance, and less wear when compared with conventional motors.
By 2025, growing at a CAGR of 25.2% from 2020 and the value of the ECU or DCU would contribute to over 35% of the value.
Owing to rapidly evolving emission standards and the rise of fuel prices between 8 to 15%, the acquisition, and charging of electric vehicles (EV) is expected to produce a downtrend of up to 4% for commercial EVs.
By 2030, the global electric vehicle (EV) market size is projected to grow from 3M units to 27M units at a CAGR of 21.1%.