“Increasing safety norms for vehicles in developed regions, improving socioeconomic conditions in developing regions, and growing demand for fuel-efficient and eco-friendly vehicles across the globe to fuel the demand for automotive motors”
The global 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. 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.
“Comfort motors are estimated to show high growth potential”
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.
“Increasing demand for safety and comfort features in vehicles would drive the automotive motors market in Asia-Pacific region”
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.
The study contains insights of various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type: Tier 1 – 42%, Tier 2 – 26%, Tier 3– 32%
- By Designation: C level – 42%, D level – 26%, Others – 32%
- By Region: North America – 38%, Europe – 22%, Asia-Pacific – 30%, RoW – 10%
Major players profiled in the report are:
•Robert Bosch GmbH
•Mitsubishi Electric Corporation
•Johnson Electric Holdings Limited
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).
Reasons To Buy the Report:
This report contains various levels of analysis including industry analysis (industry trends, Porter’s Five Forces), supply chain analysis, and company profiles, which together comprise and discuss the basic views on the emerging and high growth segments of the automotive motors market, competitive landscape, high growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
The report enables new entrants and smaller firms as well as established firms to understand the market better to help them acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
The report provides insights into the following points:
- Market Penetration: The report offers comprehensive information about the automotive motors market and the top 12 players in the market.
- Product Development/Innovation: The report provides detailed insights into upcoming technologies and new product launches in the automotive motors market.
- Market Development: The report analyzes the market for automotive motors across regions and provides comprehensive information about lucrative emerging markets.
- Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the automotive motors market.