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Automotive Motors Market Overview, Industry Growth Rate, Research Report 2023-2028

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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 automotive motors market growth. 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. Request a Sample Report: https://www.imarcgroup.com/automotive-motors-market/requestsample Competitive Landscape: 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. Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/automotive-motors-market Key Market Segmentation: Motor Type Insights: Vehicle Type Insights: Sales Channel Insights: Application Insights: Breakup by Region: Key Highlights of the Report: About Us: IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. Contact us: IMARC Group 134 N 4th St. Brooklyn, NY 11249, USA Email: sales@imarcgroup.com Tel No:(D) +91 120 433 0800 Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800