Automotive Motors Market Insights, Current And Future Market Trends & Forecast Till 2027

 

The GMI Research expects the automotive motors market to expand at an increased rate. From a regional perspective, the Asia-Pacific is predicted to increase at a higher CAGR due to the strong demand and production for automobiles in the developing economies, including India and China. As per the China Association of Automobile Manufacturers, the production of automobiles amounted to 25 million in 2019.

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Automotive Motors Market Dynamics (including market size, share, trends, forecast, growth, and industry analysis)

Key Drivers

The growing sales of automobiles and the rising government initiatives to boost the efficiency productivity of automotive motors are the major factors contributing to the growth of the automotive motors market size. Moreover, numerous projects are taken by the department of energy, thereby allowing the manufacturers to get fund opportunities. The US Department of Energy declared around USD 25 million for 13 projects in 2016 by various organizations, including General Electric Company, and American Superconductor Corporation. These initiatives help the players in the automotive motors market leverage advanced technologies to improve vehicles' performance, thus fueling the market growth.

The outbreak of the COVID-19 pandemic has negatively impacted the growth of the market due to the temporary lockdown which hindered the production and supply of vehicles, thus reducing the total number of sales. On the other hand, the growing number of strict environmental norms and the rising demand for vehicles with improved fuel efficiency will hamper the growth of the market. Additionally, the high demand for lighter components from automotive suppliers to decrease the weight of the vehicles, which would aid to fulfill the demand for lower emissions and better mileage will restrain the growth of the market.

Motor Type Segment Drivers

Based on the motor type, the brushless DC motor is expected to increase at a higher CAGR in the upcoming years. A brushless DC motor is not susceptible to breakage or damage as it does not have brushes or a physical commutator. These properties make brushless DC motors more durable, reliable, and more efficient in comparison to brushed DC motors. Furthermore, brushless DC motors can run at speeds above 10000 RPM in loaded and unloaded conditions. These factors are accelerating the growth of the market.

Automotive Motors Market’s leading Manufacturers:

·        Siemens

·        Robert Bosch GmbH

·        Denso Corporation

·        Continental AG

·        MAHLE GmbH

·        Mitsubishi Electric Corporation

·        Johnson Electric Holdings Limited

·        NIDEC CORPORATION

·        Valeo S.A

·        BorgWarner Inc.

Automotive Motors Market Segmentation:

Segmentation by Motor Type:

·        Brushed DC Motor

·        Brushless DC Motor

·        Stepper Motor

·        Traction Motor

Segmentation by Application:

·        Safety

·        Comfort

·        Performance

Segmentation by Vehicle Type:

·        Electric Vehicle

o    BEV

o    HEV

o    PHEV

·        ICE

o    Passenger Car

o    Light Commercial Vehicle

o    Heavy Commercial Vehicle

Segmentation by Sales Channel:

·        OEM

·        Aftermarket

Segmentation by Region:

·        North America

o   United States of America

o   Canada

 

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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