According to a report by TechSci Research titled "Global Automotive Motor Market By Vehicle Type, By Product Type, By Application, By Demand Category, Competition, Forecast & Opportunities, 2025," the automotive motor market reached a value of $31 billion in 2019. It is projected to grow at a remarkable rate of 13% until 2025, driven by the increasing demand for energy-efficient vehicles and the implementation of stricter safety regulations. Factors such as the rise in production of light vehicles, expanding vehicle fleet size, growing demand for technologically advanced luxury and premium cars with high-end safety features are expected to drive the demand for automotive motors during the forecast period. Additionally, the market is likely to witness further growth due to stringent emission norms, supportive government policies, and schemes promoting electric vehicles, which aim to combat air pollution and address climate change concerns. Furthermore, the growing demand for active safety systems in vehicles, such as electronic stability control (ESC) and antilock braking system (ABS), is anticipated to have a positive impact on the market's growth until 2025.
The global automotive motor market can be segmented based on demand category, product type, application, vehicle type, and region. In terms of product type, the market is dominated by the DC brushed motor segment, primarily due to its affordability. These motors are widely used in vehicles equipped with internal combustion engines. Although brushless DC (BLDC) motors are more expensive, their demand is increasing due to their minimal maintenance cost, especially in high-end premium passenger cars, electric vehicles, and hybrid vehicles. The growing production of green energy vehicles globally has also generated substantial demand for BLDC motors in the OEM sector.
Browse over 99 market data Figures spread through 115 Pages and an in-depth TOC on "Global Automotive Motor Market"
Based on application, the global automotive motor market is categorized into performance motors, comfort motors, and safety motors. Performance motors hold the largest market share, as they are extensively used for traction purposes. The OEM segment primarily generates the demand for this type of motor, driven by the increasing vehicle production worldwide. Additionally, the aftermarket segment is witnessing a rise in demand for performance motors due to the prolonged use of vehicles and the expanding vehicle fleet. The demand for comfort motors is also expected to grow during the forecast period, attributed to stringent safety regulations imposed by governments and the rising preference for technologically advanced comfort systems in premium light vehicles. The market is further segmented by vehicle type, including passenger cars, commercial vehicles, and two-wheelers. The passenger car segment dominates the market, fueled by the increasing demand for personal transportation and rising production worldwide. This trend is expected to continue over the next five years.
Geographically, the global automotive motor market is segmented into Asia-Pacific, North America, South America, Europe, and the Middle East & Africa. The Asia-Pacific region holds the largest market share, driven by the presence of numerous OEMs, a significant vehicle fleet, and growing vehicle production. Key players in the global automotive motor market include Denso Corporation, Mitsubishi Electric Corporation, Continental AG, Valeo S.A., Siemens AG, and Robert Bosch GmbH. Mr. Karan Chechi, Research Director at TechSci Research, a research-based global management consulting firm, commented, "APAC dominated the global automotive motor market in 2019 due to several car manufacturers generating substantial OEM demand and continuous growth in vehicle production across the region. During the forecast period, the aftermarket segment is expected to witness increased demand as global vehicle production has declined due to the spread of COVID-19."
The report titled "Global Automotive Motor Market By Vehicle Type, By Product Type, By Application, By Demand Category, Competition, Forecast & Opportunities, 2025" provides an evaluation of the future growth potential of the automotive motor market, along with statistics, information on market size, structure, and future market growth. The aim of the report is to offer cutting-edge market intelligence to help decision-makers make sound investment decisions. Additionally, the report identifies and analyzes emerging trends, essential drivers, challenges, and opportunities in the global automotive motor market.
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TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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