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The demand for electric motors in Algeria is expected to rise significantly as a result of rising environmental concerns over greenhouse gas emissions, rising demand for energy-efficient conveyor systems in the manufacturing and automotive industries, and expanding industrial activities.
The Algeria Electric motor Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
WEG, a global automaker, and Cevital Group have agreed to form a joint venture in Algeria to produce electric motors. Electric motors for washing machines will be manufactured and sold by the company, with an initial focus on the Algerian and North African markets.
WEG has informed its shareholders and the general public that it has recently executed legally binding agreements with the Algerian conglomerate Cevital Group to establish a Joint Venture (JV) focused on the production and sale of electric motors for washing machines, initially targeting the Algerian and North African markets.
WEG Group will own 51% of the new company, which will be called WEG Algeria Motors SpA, and Cevital Group will own 49%.The manufacturing facilities will be situated in Setif, producing motors initially for washing machines sold by Cevital Group and other local customers.
The majority of WEG’s investments will go toward developing Algeria’s electric motor manufacturing technology and expertise.
The coronavirus pandemic, which is stifling the expansion of the automotive industry, has a negative impact on Algeria’s economic growth in the first few months of 2020.
However, due to rising demand from the HVAC, automotive, and industrial sectors for environmentally friendly, efficient, and dependable electric motors, Algeria’s economic growth is likely to resume.
Additionally, a number of automakers, including Peugeot and Volkswagen, are investing in the nation and aiming to introduce the maximum number of electric vehicles by 2030, contributing to the expansion of the electric motor market in the automotive sector.
Due to their high efficiency and energy efficiency, AC electric motors would dominate the market based on type. This is because these motors are ideal for robotic system manufacturers.In addition, the electric motor market in Algeria is likely to be dominated by low- and medium-voltage models.
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