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2021
Automotive Motors Market

Automotive Motors Market

by Type (DC brushed motors, Brushless DC motors, Stepper motors, and Traction motors), Vehicle Type (Two-wheelers, Electric Two-wheelers, Passenger cars, Light commercial vehicles (LCVs), Heavy commercial vehicles (HCVs), BEV, PHEV, and HEV), Function (Performance, Comfort & Convenience, and Safety & Security), Technology (PWM, DTC, and others), and by Application (Alternator, ETC, Electric parking break, Sun roof motor, Fuel pump motor, ECM, Wiper motor, Engine cooling fan, HVAC, VVT, EGR, Starter motor, Anti-lock brake system, EPS, PLG, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027
Update Available On-Demand

Report Code: A05822
Pages: 488
Jan 2021 | 8558 Views
Author(s) : Akshay J
Tables: 213
Charts: 136
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Automotive Motors Market Statistics – 2027 

The global automotive motors market was valued at $28.72 billion in 2019, and is projected to reach $36.66 billion by 2027, registering a CAGR of 6.5%. 

With the advent in COVID-19 pandemic across the globe, the automotive motors market has been affected as the automotive motors manufacturing units have been shut down due to the imposed lockdown in major countries across the globe. In addition, the unavailability of skilled labor has affected the market growth.

Motors are an integral part of a vehicle that help perform its operation smoothly. It is present in any vehicle operation that involves continuous rotational motion. Motors are involved in various applications of a vehicle, such as power steering motors, seat cooling fans, battery cooling fans, power window motors, engine cooling fans, wiper system, and others, where comfort is as important as the driving efficiency. 

Automotive-Motors-Market-2020-2027

COVID Impact Analysis: With the advent in COVID-19 pandemic across the globe, the automotive motors market has been affected as the automotive motors manufacturing units have been shut down due to the imposed lockdown in major countries across the globe. In addition, the unavailability of skilled labor has affected the market growth. 

Factors such as increase in global vehicle production, high demand for safety and convenience features, and rise in requirement of electric vehicles drive the growth of the market. However, increased weight and cost of the overall system are anticipated to hamper the market growth. Further, wide number of applications employing the use of electric motors and concept of autonomous cars are expected to create numerous opportunities for the market expansion.

The automotive motors market is segmented into type, vehicle type, function, technology, application, and region. Depending on type, the market is divided into DC brushed motors, brushless DC motors, stepper motors, and traction motors. On the basis of vehicle type, it is categorized into two-wheelers, electric two-wheelers, passenger cars, light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), BEV, PHEV, and HEV. Based on function, the market is segmented into performance, comfort & convenience, and safety & security. Based on technology, the market is classified into PWM, DTC, and others. The applications covered in the study include alternator, ETC, electric parking break, sun roof motor, fuel pump motor, ECM, wiper motor, engine cooling fan, HVAC, VVT, EGR, starter motor, anti-lock brake system, EPS, PLG, and others. 

Based on region, the market is studied across North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA) including country-level analysis for each region.

The major companies profiled in the automotive motors market include BorgWarner Inc., Continental AG, DENSO CORPORATION, Johnson Electric Holdings Limited, Mitsuba Corporation, MABUCHI MOTOR CO., LTD., Nidec Corporation, Robert Bosch GmbH, Siemens AG, VALEO, Inteva Products, LLC, Magna International Inc, Marelli Europe S.P.A., Aptiv PLC, Buhler Motor, Meritor, Inc., PST Electronics Ltd, and U-SHIN ltd.

Automotive Motors Market
By Type

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Traction motors segment is projected as the most lucrative segments

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High demand for safety and convenience features

Over the past few years, the automotive industry has been witnessing increased demand for advanced features in vehicles such as power steering system, climate control system, anti-lock braking system, and others. This has led to rise in applications of motor in automobile, thereby driving the growth of this market. 

Moreover, in developed economies, such as the U.S., there is rise in demand for enhanced convenience, safety, and comfort in automobiles. Features of comfort, luxury, safety, and security benefits, such as steering-mounted controls, heads-up displays, advanced infotainment systems, gesture control systems, telematics, and central controllers, are in demand. Furthermore, the automotive market has witnessed an increase in number of electronic components & software content in vehicles across the globe that offers the latest technology-based infotainment and telematics system. 

Automotive Motors Market
By Vehicle Type

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BEV segment is projected as the most lucrative segments

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For instance, in September 2018, Renault-Nissan-Mitsubishi and Google collaborated for in-vehicle next-gen infotainment system. The launch for the embedded android-based operating system for vehicles is expected by 2021. Further, safety and convenience features, such as automatic emergency braking system (AEBS), lane-keeping assist, blind-spot warning, lane-departure warning system (LDWS), pedestrian & cyclist detection, and automatic high-beam headlights, are trending in the market presently. All these factors are expected to fuel the demand for automotive motors market.

Rise in demand of electric vehicles

Increase in global concerns regarding the negative effect of climate change and alarming pollution levels recorded in the major cities have created a significant demand for electric vehicles. The demand for fuel-efficient vehicles has increased recently, owing to rise in price of petrol and diesel. Depletion of fossil fuel reserves and growth in tendency of companies to gain maximum profit from these oil reserves also contribute to the increase in demand. Therefore, these factors give rise to the need for advanced fuel-efficient technologies, leading to surge in demand for electrically-powered vehicles for travel, which generates the demand for automotive motors. Traction motors are mostly common in electric vehicles. Therefore, increase in sale of electric vehicle boosts the growth of the automotive motors market. Further, though electric motors are already prevalent throughout ICE-propelled vehicles, the increase in popularity of electric vehicles gives rise to many innovations in automotive electric motors, which drive the growth of the market.

Automotive Motors Market
By Region

2027
Asia-pacific 
North America
Europe
Lamea

LAMEA by region segment is projected as the most lucrative segments

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Key Benefits For Stakeholders

  • This study presents analytical depiction of the automotive motors market analysis along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities of the market with a detailed impact analysis.
  • The current automotive motors markaet size is quantitatively analyzed from 2019 to 2027 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the automotive motors industry.

Automotive Motors Market Report Highlights

Aspects Details
By TYPE
  • DC Brushed Motors
  • Brushless DC Motors
  • Stepper Motors
  • Traction Motors
BY VEHICLE TYPE
  • Two-wheelers
  • Electric Two-wheelers
  • Passenger Cars
  • Light Commercial Vehicles (LCVs)
  • Heavy Commercial Vehicles (HCVs)
  • Battery electric vehicle (BEV)
  • Plug-in hybrid electric vehicle (PHEV)
  • Hybrid electric vehicle (HEV)
BY FUNCTION
  • Performance
  • Comfort & Convenience
  • Safety & Security
BY TECHNOLOGY
  • Pulse-width modulation (PWM)
  • Direct torque control (DTC)
  • Others
BY APPLICATION
  • Alternator
  • Electronic throttle control (ETC)
  • Electric Parking Break
  • Sun Roof Motor
  • Fuel Pump Motor
  • Electronically commutated motor (ECM)
  • Wiper Motor
  • Engine Cooling Fan
  • Heating, ventilation, and air conditioning (HVAC)
  • Variable valve timing (VVT)
  • Exhaust gas recirculation (EGR)
  • Starter Motor
  • Anti-lock Brake System
  • Electric power steering (EPS)
  • Power liftgate (PLG)
  • Others
BY REGION
  • NORTH AMERICA  (US, CANADA, MEXICO)
  • EUROPE  (UK, GERMANY, FRANCE, SPAIN, RUSSIA, ITALY, REST OF EUROPE)
  • ASIA-PACIFIC  (CHINA, INDIA, JAPAN, SOUTH KOREA, REST OF ASIA-PACIFIC)
  • LAMEA  (LATIN AMERICA, MIDDLE EAST, AFRICA)
Key Market Players AFRICA, BORGWARNER INC, BÜHLER MOTOR GmbH, CONTINENTAL AG, DENSO CORPORATION, INTEVA PRODUCTS, LLC, JOHNSON ELECTRIC HOLDINGS LIMITED, MABUCHI MOTOR CO., LTD, MAGNA INTERNATIONAL INC, MARELLI EUROPE S.P.A, MERITOR, INC, MITSUBA CORPORATION, NIDEC CORPORATION, PÓSITRON (PST ELECTRONICS LTD), ROBERT BOSCH GmbH, SIEMENS AG, U-SHIN LTD, VALEO
 

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According to the insights of CXOs of leading companies, the automotive motors market is projected to witness moderate growth rate, owing to growth in population along with increase in disposable income and rise in purchasing power. Companies in this industry are adopting various innovative techniques to provide customers with advanced and innovative feature offerings.

The automotive motors market is driven by increase in global vehicle production and high demand for safety & convenience features, resulting in rise in demand for automotive motors across all the vehicle segments. In addition, increase in popularity of electric vehicles is expected to make way for various innovations in automotive electric motors. Increase in number of motors installed in a car directly translates into better intelligence and increased convenience by reducing environmental impact.

However, increased weight and rise in cost of the overall system restrict the market growth. Moreover, wide number of applications employing the use of electric motors and the concept of autonomous cars are expected to create lucrative opportunities in near future for the automotive motors market.

Among the analyzed regions, Asia-Pacific accounted for the highest revenue in the global market in 2019. However, LAMEA is expected to grow at a higher rate, predicting lucrative opportunities for the key players operating in the automotive motors market.

 

 

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FREQUENTLY ASKED QUESTIONS?

A. The automotive motors market was valued at $28.72 billion in 2019, and is projected to reach $36.66 billion by 2027, registering a CAGR of 6.5% from 2020 to 2027

A. With the advent in COVID-19 pandemic across the globe, the automotive motors market has been affected as the automotive motors manufacturing units have been shut down due to the imposed lockdown in major countries across the globe

A. The report sample for global automotive motors market report can be obtained on demand from the website. Also, the 24*7 chat support and direct call services are provided to procure the sample report.

A. In North America and Europe, the consumer trend has experienced a decline since mid-March due to the COVID-19 crisis. However, most of the Asian countries have maintained or increased the level of optimism

A. Bühler Motor GmbH opened a new sales and technology office at Farmington Hills, MI for automotive customers. This office is a part of Buehler Motor, Inc., which is headquartered in Morrisville, NC

A. The company profiles of the top ten players of the automotive motors market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the industry along with their last three year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated.

A. In year 2019, Asia-Pacific was the highest revenue contributor to the global automotive motors market. LAMEA and North America are expected to witness considerable CAGRs, during the forecast period 2020-2027

A. By propulsion type, the BEV segment is expected to dominate the market, in terms of revenue. In addition, by length, the 9 to 14 meters segment dominated the global automotive motors market in 2019

A. Asia-Pacific dominates the market in terms of revenue, followed by Europe, North America, and LAMEA. In Asia-Pacific, China dominated the automotive motors market in 2019, whereas South Korea is expected to witness growth at a significant rate during the forecast period

A. Decrease in global vehicle production, rise in trend of shared mobility, wide number of applications employing the use of electric motors, and concept of autonomous cars have strong impact on the market

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