Automotive motors market is projected to grow at a CAGR of 6.02% from 2017 to 2022, to reach USD 34.48 billion by 2022.
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The key players in the Automotive Motors Market include – Siemens, Robert Bosch GmbH, Continental AG, Denso Corporation, Magna International, Mitsubishi Electric Corporation, Valeo SA, Mahle GmbH, Nidec Corporation, BorgWarner Inc., Mitsuba Corporation, Johnson Electric Holdings Limited.
Asia-Pacific is estimated to account for the largest share, by value and volume, of the automotive motors market in 2017.In terms of growth, the Asia-Pacific market is projected to grow at the highest CAGR. Developing economies such as China and India are expected to play a major role on the backdrop of increasing vehicle production.
Also, increasing installation of upgraded technology features such as anti-lock braking system (ABS) and brake assist is likely to add to the demand for automotive motors.
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- Automobile manufacturers
- Automotive motor manufacturers
- Automotive component manufacturers
- Automobile organizations and associations
- Automotive motor component suppliers
- Raw material suppliers for automotive motors
- Traders and distributors of automotive motors
- Tier 1, Tier 2, and Tier 3 suppliers of automotive motors
- Distributors and suppliers of automotive components and parts
Inquire For Complete Report Copy of Automotive Motors Market by Product (DC Brushed, BLDC Motors, Stepper), Vehicle (PC,LCV,HCV), Application (Performance Motors, Comfort Motors, Safety Motors), EV (BEV,PHEV,HEV), Traction Motor by EV (BEV,PHEV,HEV) and Region - Global Forecast to 2022 www.rnrmarketresearch.com/contacts…ing?rname=1151255
The major factors responsible for the growth of the market include growing electrification of vehicles and the mandatory usage of safety technologies such as electronic stability control and antilock braking systems (ABS) in passenger cars in developed regions such as Europe and North America. However, electric vehicles require less number of motors, which may pose a challenge to the growth of the automotive motors market.
The comfort motors market is estimated to grow at the highest rate during the forecast period. The market growth of comfort motors can be attributed to the increasing demand for comfort applications such as HVAC systems, power windows, and electric power steering in vehicles.
Performance motors are estimated to have the largest share of the automotive motors market in the next five years. This can be attributed to the increasing vehicle production across the globe.
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The report segments the automotive motors market and forecasts its size, by volume and value, on the basis of region (Asia-Pacific, Europe, North America, and RoW), application type (safety motors, comfort motors, performance motors), vehicle type (passenger cars, LCV, and HCV), motors type (DC brushed, DC brushless, stepper), electric vehicle by traction motor (BEV, HEV, PHEV) and electric vehicle type (BEV, HEV, PHEV).
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