IMARC Group’s latest report, titled “Automotive Motors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global automotive motors market report. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global automotive motors market size reached US$ 37.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 52.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.
Automotive Motors Market Overview:
An automotive motor is a device that transforms electrical energy from a battery or engine into mechanical energy. It operates by interacting with the current in its windings and the magnetic field generated by the motor. These motors are comprised of various components such as a rotor, stator, conducting wire, encoder, amplifier, and frame. They play a crucial role in different vehicle systems, including fans, engine and battery cooling, and power steering.
Additionally, they are integrated into advanced features, including infotainment systems, heads-up displays, gesture control systems, sunroofs, alternators, wiper systems, exhaust gas recirculation (EGR), and anti-lock brake systems. Automotive motors find extensive applications in passenger cars, battery electric vehicles (BEV), heavy commercial vehicles (HCVs), two-wheelers, and plug-in hybrid electric vehicles (PHEV) to enhance performance, safety, convenience, comfort, and security.
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Competitive Landscape:- BorgWarner Inc
- Brose Fahrzeugteile SE & Co. KG
- Bühler Motor GmbH
- Continental AG
- Johnson Electric Holdings Limited
- Mabuchi Motor Co. Ltd
- MAHLE GmbH
- MITSUBA Corporation
- Mitsubishi Electric Corporation
- Nidec Corporation
- Ricardo PLC
- Robert Bosch GmbH
- Siemens AG
- Valeo
Automotive Motors Market Trends:
The global market for automotive motors is being driven by the increasing demand for vehicle safety and convenience. Furthermore, the growing popularity of advanced features such as motorized wipers, seats, adjustable mirrors, and doors is fueling the market growth. Moreover, the rising demand for electric vehicles (EVs), driven by environmental consciousness and the utilization of renewable energy, is also playing a significant role in market expansion.
Besides, the growing government regulations focused on environmental safety are prompting major companies to introduce high-efficiency and compact automotive motors, which streamline production processes and minimize waste, creating a positive market outlook. Other factors, including the increasing demand for traction motors, rising income levels, and a growing preference for premium vehicles, are also influencing the market.
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Key Market Segmentation:
Motor Type Insights:
- Brushed DC Motor
- Brushless DC Motor
- Stepper Motor
- Traction Motor
Vehicle Type Insights:
- Electric Vehicle
- BEV
- PHEV
- Non-Electric Vehicle
- Passenger
- LCV
- HCV
Sales Channel Insights:
- Original Equipment Manufacturer (OEM)
- Aftermarket
Application Insights:
- Safety
- Comfort
- Performance
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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