Automotive Motor Industry 2019 Global Market Size, Trends, Growth, Share, Opportunities Analysis By Product, Application, Vehicle Type, And Regional Forecast To 2023Posted:
The key players in automotive motor market are Robert Bosch GmbH (Germany), Johnson Electric Holdings Ltd. (Hong Kong), Continental AG (Germany), Nidec Corporation (Japan), Denso Corporation (Japan), and Mitsubishi Electric Corporation (Japan). Siemens AG (Germany), Magna International (Canada), Valeo S.A. (France), Borgwarner Inc. (U.S.), Mitsuba Corporation (Japan), Mahle Group (Germany), PMP Auto Components Pvt. Ltd. (India), SAIC Motor Corporation Limited (China), REIL Electricals India Limited (India) are among others.
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The automotive motor converts one type of energy into mechanical energy. They are important because it is useful for battery cooling, engine cooling fan, power steering, and other systems. Market Research Future (MRFR) has published and released a research report about the global automotive motor market that foretells growth for this market with 6.5% CAGR (Compound Annual Growth Rate) during the forecast period between 2017 and 2023.
Government have taken various initiatives to improve the efficiency of the motor. According to Office of Energy Efficiency & Renewable Energy, there has been a significant investment of about USD 25 million for the advancement of technology to provide energy-efficient motor. The department of energy have taken up various projects by Next Generation of Electric Machines which will enable them to get fund opportunity. The initiative will leverage the manufacturers of motors with advanced technology made in nanomaterial’s research with improved performance. The improved performance of automotive motor will result in the growth of the market during forecast period. The increased demand from automotive industry is majorly due to growing demand for electric vehicles. The most popular electric vehicle manufacturer Tesla is equipped with high-speed motor with a 3-phase electric induction motor. The increase in demand from the electric vehicle manufacturers will result in the growth of the automotive market.
The Automotive Motor market is segmented based on product, application, vehicle type, and electric vehicle type. By product, the market is segmented based on DC brushed, BLDC motors, and stepper. DC brushed segment is expected to dominate the market in future because they are easy to install and available at low cost as compared to other types. The DC brushed motor works through direct current power source. The brushed motor is generally used for providing high speed and power to the vehicle. This will led to growing demand for brushed motor. By application, the market is segmented based on performance motors, comfort motors, and safety motors. Performance segment is expected to dominate the market because major automotive manufacturers focus on increasing the overall performance of the vehicle. The increased performance of the vehicle with the use of electric motor will result in increased fuel efficiency and will led to the demand for vehicles in future. By vehicle type, the market is segmented based on passenger car and commercial vehicles. The passenger car segment is expected to dominate the market in future due to increase in production of passenger cars in emerging economies. The increased production will require higher installation of motor in the vehicles.
During the forecast period, North America is expected to be the second largest market. The largest country-specific market in this region is the United States of America (USA), because of the rapidly growing demand for safety features to be installed in the vehicles. Canada is the other most significant country-specific market in this region. The primary reasons for the market growth in this region are the technological advancement, and an established a market for vehicles. The report also highlights Europe as an important market. Its technological advancement does not match North America, but it is decent, and its high density of population makes it a lucrative market. The most important country-specific markets in this region are France, Germany, Italy, and the United Kingdom (UK).
Table Of Contents:
1 Executive Summary
2 Market Introduction
2.2 Scope Of The Study
2.3 Market Structure
2.4 Key Takeaways
2.5 Macro Factor Indicators Analysis
2.5.1 GDP (USD Million)
2.5.2 GNI Per Capita, Atlas Method (USD)
2.5.3 GDP Per Capita PPP (USD)
2.5.4 Macro Indicators Influencing The Advanced Tires For Top 5 Countries
2.5.4. 5 UK
2.6 Market Insights
2.7 List Of Assumptions
3 Research Methodology
3.1 Research On-Highway Vehicle Type
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics
List Of Tables:
Table 1 Global Automotive Motor Market: By Region, 2017-2023
Table 2 North America Automotive Motor Market: By Country, 2017-2023
Table 3 Europe Automotive Motor Market: By Country, 2017-2023
Table 4 Asia Pacific Automotive Motor Market: By Country, 2017-2023
Table 5 RoW Automotive Motor Market: By Country, 2017-2023
Table 6 Global Automotive Motor Market, By Type, By Regions, 017-2023
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