The global Automotive Motor Market size is expected to reach USD 56.9 billion by 2030, registering a CAGR of 5.7% from 2024 to 2030, according to a new report published by Grand View Research, Inc. Automotive industry is currently going through technological advancements to cater to the changing consumer preferences. Automotive manufacturers emphasize on producing efficient motors. Furthermore, 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.
Rising
preference for electric vehicles coupled with the increasing automobile
production is anticipated to drive the automotive motors market in the
forthcoming years. Automotive motors are widely used in car chassis, powertrain
systems, internal/external comfort control systems, and safety systems. Currently,
these motors are also being implemented in automated doors, wipers, sunroof
systems, massage seats, and adjustable mirrors of vehicles. Increasing demand
for vehicles with these advancements is expected to fuel the market growth.
Rising
adoption of electric vehicles to alleviate problems, such as oil
dependency, global warming, and environmental pollution is expected to bode
well for the market growth. Various governments have initiated and implemented
policies to encourage the production and adoption of electric vehicles.
Factors, such as developments in electric vehicle production technology and
rising emphasis on renewable energy are expected to drive the demand for
electric vehicles. Increasing government support for green vehicles is
projected to further propel the demand. Improving battery technology and
forthcoming regulation of Internal Combustion Engine (ICE) vehicles are
boosting the outlook for electric vehicles. Rising popularity of electric
vehicles is anticipated spur many innovations in automotive electric motors.
Electric car manufacturers prefer using automotive motors in vehicles owing to
low maintenance, higher efficiency, high operating speed, and quick response.
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a free sample copy or view report summary: Automotive Motor
Market Report
Automotive
Motor Market Report Highlights
- Brushed DC
motor segment is expected to account for the highest automotive motor
market share in terms of revenue over the forecast period ascribed to the
factors, such as simple usage and low cost
- Increasing
demand for electrification of vehicles over the last few years is
estimated to catapult the traction motors segment during the forecast
period
- Safety motors
segment is anticipated to witness significant growth by 2025 owing to the
increasing stringency of government rules and regulations regarding
incorporation of safety systems in vehicles
- Comfort
application segment is expected to witness the fastest growth over the
next six years as comfort motor increased riding capability
- Passenger
vehicles segment is likely to emerge as a dominant segment over the
forecast period owing to the rising production volumes of passenger
vehicles across the globe
- Asia Pacific
dominated the market with more than 35% revenue share in 2023, owing to
increasing vehicle production in developing countries of China, India, and
Japan along with the rising demand for advanced safety features such as
seat belt reminders, anti-lock braking systems and so on
Automotive
Motor Market Segmentation
Grand
View Research has segmented the global automotive motor market report based on
motor type, sales channel, application, vehicle type, and region:
Automotive
Motor Type Outlook (Revenue, USD Million, 2018 - 2030)
- Brushed DC
Motor
- Brushless DC
Motor
- Stepper Motor
- Traction
Motor
Automotive
Motor Sales Channel Outlook (Revenue, USD Million, 2018 - 2030)
- OEM
- Aftermarket
Automotive
Motor Application Outlook (Revenue, USD Million, 2018 - 2030)
- Safety
- Comfort
- Performance
Automotive
Motor Vehicle Type Outlook (Revenue, USD Million, 2018 - 2030)
- Electric
Vehicle
- BEV
- PHEV
- Non-electric
Vehicle
- Passenger
- LCV
- HCV
Automotive
Motor Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- Asia Pacific
- Japan
- India
- China
- Latin America
- Brazil
- Middle East
& Africa
List
of Key Players of Automotive Motor Market
- Siemens
- Robert Bosch
GmbH
- Continental
AG
- DENSO
CORPORATION
- Mitsubishi
Electric Corporation
- MAHLE GmbH
- NIDEC
CORPORATION
- Johnson
Electric Holdings Limited
- BorgWarner
Inc.
- Valeo S.A.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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