Automotive Motors Market To Reach US$ 52.0 Billion By 2028

How Big is the Automotive Motors Market ? :

IMARC Group’s latest report, titled “Automotive Motors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the automotive motors market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global automotive motors market size reached US$ 37.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 52.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028

What is Automotive Motors and Uses ? :

Automotive motors are a crucial component in modern vehicles, playing a critical role in driving various systems, such as the engine, transmission, steering, and HVAC. The most common types of automotive motors include electric, gasoline, and diesel. Automotive motors are designed to be highly efficient in converting energy into motion, minimizing energy wastage, and reducing fuel consumption. They are built to face harsh operating conditions, such as extreme temperatures and high loads, and have long service lives. They are compact, lightweight, and provide reliable and consistent performance over various operating conditions. Automotive motors often have advanced control systems that enable precise control over their operation, optimizing their efficiency and performance.

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Who are the key Players Operating in the Industry ? :

The competitive landscape of the industry has also been examined along with the profiles of the key players being,

• BorgWarner Inc
• Brose Fahrzeugteile SE & Co. KG
• Bühler Motor GmbH
• Continental AG
• Johnson Electric Holdings Limited
• Mabuchi Motor Co. Ltd
• MAHLE GmbH
• MITSUBA Corporation
• Mitsubishi Electric Corporation
• Nidec Corporation
• Ricardo PLC
• Robert Bosch GmbH
• Siemens AG
• Valeo

What are the Growth Prospects and Trends in the Automotive Motors Industry ? :

The global market is majorly driven by the increasing demand for electric vehicles. In line with this, the rising focus on reducing carbon emissions and enhancing fuel efficiency is significantly contributing to the market. Furthermore, the growing demand for hybrid vehicles and rapid technological advancements in motor technology, including the development of lighter and more powerful motors, are positively influencing the market. Apart from this, the shifting focus on autonomous driving, which requires advanced motor technology for propulsion, steering, and braking systems, is catalyzing the market.

Moreover, the escalating demand for advanced motor control systems, such as variable valve timing and direct fuel injection, is favorably impacting the market. Besides, the increasing demand for motors with high torque output and the rapid adoption of electric power steering systems are strengthening the market. Additionally, the rising demand for motors with advanced control and automation capabilities and the widespread utilization of electric motors in industrial and agricultural applications are providing a boost to the market.

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Key Market Segmentation: 

Motor Type Insights:

• Brushed DC Motor
• Brushless DC Motor
• Stepper Motor
• Traction Motor

Vehicle Type Insights:

• Electric Vehicle
  • BEV
  • PHEV
• Non-Electric Vehicle
  • Passenger
  • LCV
  • HCV

Sales Channel Insights:

• Original Equipment Manufacturer (OEM)
• Aftermarket

Application Insights:

• Safety
• Comfort
• Performance

 Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other) 

Key Highlights of the Report: 

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

About Us: 

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. 

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. 

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