IMARC Group’s latest report, titled “Automotive Motors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the automotive motors market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global automotive motors industry size reached US$ 39.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 59.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2024-2032.
Automotive Motors Market Overview:
Automotive motors play a pivotal role in powering various components within vehicles. Electric motors, prevalent in electric and hybrid vehicles, propel wheels and drive systems, contributing to the shift toward sustainable transportation. Internal combustion engines rely on motors for engine cooling fans, power steering, and fuel injection systems. Advanced technologies, such as brushless DC motors, enhance efficiency and reliability.
Electric vehicles often employ multiple motors for precise control and improved performance. Additionally, innovations like regenerative braking harness motor-generated energy to recharge batteries. As automotive design evolves, motors continue to be integral to enhancing efficiency, reducing emissions, and advancing the overall performance of modern vehicles.
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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 is majorly driven by the transition towards electric and hybrid vehicles. The increasing environmental concerns and stringent emission regulations encourage automakers to adopt electric propulsion systems. This shift fuels the demand for electric motors, especially in applications like electric power steering, HVAC systems, and propulsion motors. Furthermore, the rise of autonomous vehicles contributes to market expansion, as these advanced vehicles require sophisticated electric motors for precise control and safety features.
The ongoing trend of vehicle electrification is accompanied by innovations in motor technology, such as high-efficiency brushless DC motors and rare-earth magnet motors, which enhance overall performance and energy efficiency. Additionally, the continuous evolution of automotive electronics and connectivity features contributes to the demand for motors in various applications, including power windows, mirrors, and seat adjustments.
The pursuit of lightweight vehicles, driven by the need for improved fuel efficiency, has led to the development of compact and lightweight motors. Moreover, the increasing focus on electric two-wheelers and electric buses further augments the demand for motors in the automotive sector.
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:
- 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
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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.
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