The global automotive motor market size is expected to be worth around US$ 55.2 billion by 2030, according to a new report by Vision Research Reports.
The global automotive motor market size was valued at US$ 34.3 billion in 2020 and is anticipated to grow at a CAGR of 9.7% during forecast period 2021 to 2030.
|Market Size||USD 55.2 billion by 2030|
|Growth Rate||CAGR of 9.7% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Motor type, sales channel, vehicle type, application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Nidec Corporation; Johnson Electric Holdings Ltd.; Robert Bosch GmbH; Denso Corporation; Continental AG; and Mitsubishi Electric Corporation|
The use of electric motors in automobiles has been witnessing a steady rise over the past few years. Rising emphasis on optimizing design and manufacturing processes for delivering better products with improved efficiency is anticipated to bode well for the product demand. The market is witnessing tremendous growth ascribed to the increase in automobile production and the number of motors used in a particular vehicle.
rising need for fuel-efficient vehicles is fueling the need for automotive motors with better performance and higher efficiency. Rising demand for fuel efficient vehicles along with stringent environmental norms is also resulting in development of lightweight raw materials without having to compromise the structural strength of the components.
By Motor Type Analysis
Brushed DC motor held the largest market share in 2020, ascribed to low cost and simple drive control model. They are easy to install and are used to provide high speed and power to the vehicle making them ideal for various automotive applications. Systems including power windows, cooling fan, windshield wipers, and so on make use of brushed DC motor.
Brushless DC held the second largest market share in 2020. The brushless DC motor is not much susceptible to damage or breakage and undergoes minimal wear and tear ascribed to the absence of a physical commutator and brushes.
The traction motor is anticipated to witness the fastest growth over the forecast period. They are mainly used in Battery Electric Vehicles (BEV) and Hybrid Electric Vehicles (HEV) owing to high efficiency and low power consumption
By Sales Channel Analysis
Based on the sales channel, the market has been categorized into OEMs and aftermarket. The OEM segment is accounted for a substantial market share in 2020. The motors need to be replaced after a certain period due to their prolonged usage and for better vehicular performance which is driving the segment.
Rapid technological advancements are anticipated to fuel the aftermarket segment toward digitization. The marketplace is changing and the aftermarket is going online for the sale of auto parts and services.
By Application Analysis
Automotive motors serve a wide range of applications including safety, performance, and comfort. The comfort application segment accounted for the majority of the market share in 2020. Automotive motors are used in electric vehicles, hybrid vehicles, and cars among other types of vehicles.
sophisticated safety mechanisms, such as the anti-lock braking system employ automotive motors to provide an estimation of the wheel speed and road identification using wavelet signal processing methods.
By Vehicle Type Analysis
The electric vehicle segment is expected to witness the fastest growth over the forecast period. Electric vehicles hold significant potential to improve local air quality, reduce carbon emissions, and increase energy security.
The electric vehicle segment is further bifurcated into BEVs and PHEVs. BEVs are anticipated to register the highest demand for the automotive motor in 2018. large scale production is pushing down the battery costs thus increasing the BEV competitiveness. Such improvements are anticipated to bode well for the demand for BEVs.
By Regional Analysis
There are various government regulations, which have mandated safety features in vehicles including anti-lock braking systems, airbags, and start-stop systems among others. These safety feature components require motor installation, which is anticipated to increase the market demand in near future.
The Asia Pacific accounted for the largest market share in terms of revenue in 2020 and is estimated to exhibit the fastest growth over the forecast period. This is ascribed to the growing vehicle production in emerging economies, such as China, India, and Japan.
North America is expected to emerge as the second-largest region by 2030. The strong presence of manufacturers in Canada and the U.S. is one of the key factors driving the regional market.
Nidec Corporation, Johnson Electric Holdings Ltd., Robert Bosch GmbH, Denso Corporation, Continental AG, and Mitsubishi Electric Corporation
Brushed DC Motor
Brushless DC Motor
Middle East & Africa
The Automotive Motor market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Automotive Motor market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Automotive Motor market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Automotive Motor market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Automotive Motor market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Automotive Motor capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Automotive Motor by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Automotive Motor market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Automotive Motor market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Automotive Motor market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Automotive Motor industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Automotive Motor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Automotive Motor market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Automotive Motor market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Automotive Motor market. These factors have benefited the growth of the global market for Automotive Motor. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Automotive Motor. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Automotive Motor are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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