The global automotive motor market stood at around $ 31 billion in 2019 and is projected to grow at a CAGR of 13% during 2020 - 2025. The market is driven by rising demand for energy efficient vehicles and increasing safety regulations. Additionally, stringent emission norms and supportive government policies & schemes for the promotion of electric vehicles, especially on account of rising concerns about air pollution and climate change, is further expected to fuel the market growth during forecast period. Besides, growing demand for active safety system in the vehicles like electronic stability control (ESC) and antilock braking system (ABS) is further expected to foster market growth through 2025. Ongoing technological advancements and new product launches by the major players are also expected to positively influence the market. However, the need to reduce cost and weight of these motors can restrict growth over next few years. Moreover, strict regulatory norms by different governments around the globe for environmental protection and safety is further impeding the market growth.
The global automotive motor market is segmented based on vehicle type, product type, application, electric vehicle type, demand category, company, and region. Based on the vehicle type, the market has been categorized into passenger cars, commercial vehicles and two wheelers. The passenger cars segment is expected to dominate the market on account of the increasing sales and production of passenger cars. Based on product type, the market can be fragmented into DC brushed, BLDC motors and stepper. The DC brushed segment is expected to dominate the market on account of their increasing adoption in the early phase of electrification.
Regionally, the automotive motor market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Asia-Pacific is expected to dominate the overall automotive motor market owing to the presence of major players operating in the region. Major players operating in the automotive motor market include Continental AG, Robert Bosch GmbH, Siemens AG, Denso Corporation, Mitsubishi Electric Corporation, Magna International, Valeo S.A., Nidec Corporation, Borgwarner Inc., Mitsuba Corporation, Johnson Electric Holdings Limited, and Mahle GmbH, among others. Leading companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions. For instance, in December 2019, Mitsubishi Electric Company signed an alliance with Nissan Motor and Renault SA to form a new joint venture company, which will be focused on research and development of advanced automotive technologies.
Years considered for this report:
- Historical Years: 2015 - 2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Period: 2021 - 2025
Objective of the Study:
- To analyze and estimate the market size of global automotive motor market from 2015 to 2019.
- To estimate and forecast the market size of global automotive motor market from 2020 to 2025.
- To classify and forecast global automotive motor market based on vehicle type, product type, application, by electric vehicle type, demand category, company and regional distribution.
- To identify dominant region or segment in the global automotive motor market.
- To identify drivers and challenges for global automotive motor market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global automotive motor market.
- To identify and analyze the profile of leading players operating in global automotive motor market.
- To identify key sustainable strategies adopted by market players in global automotive motor market.
Key Target Audience:
- Automotive motor manufacturers/ suppliers/ distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to automotive motor market
- Market research and consulting firms
Market, By Vehicle Type:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global automotive motor market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Passenger Cars
- Commercial Vehicles
- Market, By Product Type:
- DC Brushed
- BLDC Motors
- Market, By Application:
- Performance Motors
- Comfort Motors
- Safety Motors
- North America
- United States
- United Kingdom
- South Korea
- Middle East & Africa
- South Africa
- Saudi Arabia
- South America