July 09, 2022 09:12 ET | Source: GreyViews GreyViews
Pune India, July 09, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Automotive Motors market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Automotive Motors market is present across various countries in the above-mentioned regions.
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the motor type, vehicle type, electric vehicle type, function, vehicle drive type, application, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Automotive Motors market are Robert Bosch GmbH, Denso, BorgWarner, ZF Group, Continental AG, Mitsubishi Electric Corporation, Johnson Electric Holdings Ltd., Nidec Corporation, MITSUBA Corporation, BorgWarner Inc., and others. To achieve a substantial market share in the worldwide Automotive Motors market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, Robert Bosch is one of the most significant manufacturers and distributors present in the global Automotive Motors market.
Electric motor is an electrical machine which helps in conversion of electrical energy into mechanical energy. Such motors have become an essential part of a vehicle to smoothly perform operations involving continuous rotational motion. The electric motors used in automotive should have characteristics such as high power density, high starting torque, and enhanced efficiency. Also, there are increasing applications of speed or torque controlled motors in automotive due to the need for improved fuel economy along with the demand for vehicles with more convenience and comfort.
In present times, the continuous developments in technology has enabled rising focus of automobile manufacturers on implementation of automotive motors for different systems in the vehicle. These systems include power steering system, anti-lock braking system, and climate control system among others. In addition, automotive motor is the prominent part of ABS, ESC, and AEB systems. Furthermore, convenience and safety features are not only limited for premium vehicles but are also being provided in entry-level and mid-level vehicles. Hence, demand for convenience and safety features in vehicles has driven growth of the global automotive motor market.
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Scope of Automotive Motors Market Report
Brushless motors segment is expected to be the fastest growing segment in 2021.
The motor type segment includes brushed motors, brushless motors, and stepper motors. Brushless motors segment is expected to witness highest growth rate during the forecast period. This is mainly due to increasing usage of these motors in automotive applications as they develop high torque with good speed response. Also, they have become prominent choice for automotive applications that requires long-term continuous duty cycles. In addition, brushless motors are being used in main vehicle parts such as window elevators, fans, and HVAC motors. BLDC motors perform extremely well in aforementioned applications with higher durability.
Heavy commercial vehicle (HCV) segment is expected to be the fastest growing segment in 2021.
The vehicle type segment includes passenger car, light commercial vehicle, and heavy commercial vehicle. Heavy commercial vehicle (HCV) segment is expected to witness highest growth rate during the forecast period. Ongoing demand for transportation of heavy commodities such as steel, cement, and fertilizers due to rapid industrialization and infrastructure development has driven growth of HCV segment. On the other hand, development of electric trucks is projected to be opportunistic for growth of this segment. For instance, in June 2022, Scania, the Swedish commercial vehicle manufacturer launched a new line of battery-electric heavy duty trucks designed for regional operations. These heavy duty trucks are equipped with 624kWh battery packs with a range of about 350 kilometers.
Battery-powered Automotive (BEV) segment is expected to be the fastest growing segment in 2021.
The propulsion segment includes Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV), and Fuel Cell Electric Vehicle (FCEV). However, Battery-powered Automotive (BEV) segment is expected to witness highest CAGR during the forecast period. BEV are mainly powered by rechargeable battery packs without any of the secondary source of power. Such vehicles can run much farther on a single charge than hybrid vehicles. Ongoing investments in the BEVs businesses is projected to be opportunistic for growth of this segment. For instance, in September 2021, Toyota, a Japanese multinational automotive manufacturer announced the investment of about $13.6 billion in battery tech in the upcoming decade..
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the Automotive Motors include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
North America region has registered highest value for the year 2021. Growth of this region is mainly driven by easy availability of convenient financing options along with the significant emphasis by the governments to ensure in-house automotive production. However, Asia-Pacific is projected to register higher growth rate during the forecast period of 2022-2029. This region is home to OEMs such as Honda Motor Co., Ltd., Toyota Industries Corporation, Hyundai Motor Company, and Nissan Motor Corporation.
Germany automotive motors market size was valued at USD 2.49 billion in 2021 and is expected to reach USD 3.58 billion by 2029, at a CAGR of 4.9% from 2022 to 2029. Germany is one of the leading nations in the mechanical engineering, manufacturing, automotive, and electrical industries. However, the huge investment in electric mobility in this country has boosted growth of the automotive motors market. For instance, according to the German Association of the Automotive Industry statement in 2019, car industry in this country was expected to invest about $68 billion on electric cars and automated driving by 2022.
Furthermore, according to the Capgemini “COVID -19 and the automotive consumer” study in 2020, interest in car ownership amongst under 35-year-olds is on the rise in the country. This trend of car ownership is creating demand for automotive motors.
China Automotive Motors market size was valued at USD 4.07 billion in 2021 and is expected to reach USD 5.82 billion by 2029, at a CAGR of 4.8% from 2022 to 2029. China is the world’s largest light vehicle manufacturer. It is the major producer and consumer of electric motors with over 28% of the volume share in the global market in 2021. Growth of the market in this country is mainly driven by increased EV sales. For instance, according to the China Association of Automobile Manufacturers (CAAM), electric vehicle (EV) sales in China accounts for more than 50% of new EV sales. Furthermore, the country has seen a growing demand for luxury electric cars in recent years as it is a vastly populous nation and attracts significant investments from worldwide carmakers.
India automotive motors market size was valued at USD 1.13 billion in 2021 and is expected to reach USD 1.68 billion by 2029, at a CAGR of 5.3% from 2022 to 2029. India is one of the strongest growing economies in Asia. Huge demand for passenger vehicles in this country is the major factor contributing to the growth of the automotive motor market. For instance, passenger vehicle sales in the country has crossed the 3 million-unit mark in financial year of 2022, a 12% year-on-year uptick as compared with the 2021 figures.
In addition, the emerging popularity of electric vehicles in this country is expected to create lucrative growth opportunities for automotive motors market.
Covid-19 had a major impact on almost all of the industries such as automotive, manufacturing, semiconductors, etc. The demand for Automotive Motors has decreased during the period owing to the regulations on social distancing and increasing focus on safety and hygiene. In most of the regions, the manufacturing facilities of automotive motors were closed in the second and third quarters of fiscal year 2020. The major end-users were also temporarily closed during this period and thus the demand for Automotive Motors significantly decreased.
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Global Automotive Motors Market Size by Global Automotive Motors Market Size by Motor Type (Brushed Motors, Brushless Motors, and Stepper Motors), Vehicle Type (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle), Electric Vehicle Type (Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV), and Fuel Cell Electric Vehicle (FCEV)), Function (Performance Motors, Comfort Motors, and Safety Motors), Application (Alternator, ETC, Electric parking break, Sun roof motor, Fuel pump motor, ECM, Wiper motor, Engine cooling fan, HVAC, VVT, EGR, Starter motor, Anti-lock brake system, EPS, PLG, and Others), Regions, Segmentation, and forecast till 2029.
https://greyviews.com/reports/automotive-motors-market/70
Global Electric Trucks Market Size by Propulsion Type (BEV, PHEV, and FCEV), Type (Light Duty Trucks, Medium Duty Trucks, and Heavy Duty Trucks), End User (Last Mile Delivery, Long Haul Transportation, Refuse Services, Field Services, and Distribution services), Battery Capacity (Less Than 50kwh, 50-250 Kwh, and Above 250 Kwh), Payload Capacity (Upto 10,000 lbs, 10,001-26,000 lbs, and Above 26,001 lbs), and Level of Automation (Semi-autonomous and Autonomous), Battery Type (Lithium-Nickel-Manganese-Cobalt Oxide, Lithium-Iron-Phosphate, and Others), Regions, Segmentation, and forecast till 2029.
https://greyviews.com/reports/electric-trucks-market/67
Global Automotive Turbocharger Market Size by Vehicle Type (Passenger Cars, LCV, Trucks, and Buses), Fuel Type (Gasoline, Diesel, and Alternate Fuel/CNG), Technology Type (Variable Geometry Turbocharger, Wastegate Turbocharger, and Electric Turbocharger), Sales Channel (OEM and Aftermarket), Regions, Segmentation, and forecast till 2029.
https://greyviews.com/reports/automotive-turbocharger-market/63
Global Metal Forming Market Size by Technique Type (Roll Forming, Stretch Forming, Stamping, Deep Drawing, Hydroforming, and Others), Forming Type (Cold Forming, Hot Forming, and Warm Forming), End User (Automotive, Aerospace Engineering, Construction, and Industrial Equipment & Machinery), Regions, Segmentation, and forecast till 2028.
https://greyviews.com/reports/metal-forming-market/61
Global Electric Power Steering Market Size by Component (Steering column, Sensors, Steering gear, Mechanical rack and pinion, Electronic control unit, Electric motor, and Bearing), Electric Motor (Brush motor and Brushless motor), Application (Passenger Cars (PC) and Commercial Vehicles (CV)), Electric Vehicle (BEV, PHEV, and FCEV), EV Gear Type (Worm Gear and Ball Screw), Regions, Segmentation, and forecast till 2029.
https://greyviews.com/reports/electric-power-steering-market/54
Electric vehicles are either partially or fully powered on electric power. The fully electric-powered electric vehicle operates on an electric motor instead of an internal combustion (IC) engine. They have lower running costs owing to fewer moving parts for maintenance and are environment friendly as they use little or no fossil fuels such as diesel or petrol. The set of properties that these fibers consist of makes them suitable to be used in clothing, armor, and other such applications. Electric Vehicle Market.
https://greyviews.com/reports/electric-vehicle-market/43
Global Automotive Switch Market Size by Type (Ignition Switches, HVAC Switches, Overhead Console Switches, Steering Wheel Switches, Window Switches, Seat Control Switches, Door Switches, Multi-Purpose Switches, Hazard Switches, and Others), Design (Rocker Switches, Toggle Switches, Rotary Switches, Push Switches, and Other Switches), Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), and Sales Channel (Original Equipment Manufacturers and Aftermarket), Regions, Segmentation and Projection till 2028
https://greyviews.com/reports/global-automotive-switch-market/30
Global Automotive Interiors Market Size by Component (Cockpit Module, Flooring, Automotive Seat, Door Panel, Interior Lighting, and Other) Vehicle Type (Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle), Material (Leather Fabric, Vinyl, Wood, Glass Fiber Composite, Carbon fiber Composite, and Metal), Autonomous Driving (Semi-Autonomous and Autonomous), and Electric Vehicle (BEV, FCEV, HEV, and PHEV) Regions, Segmentation and Projection till 2028.
https://greyviews.com/reports/global-automotive-interiors-market/28
Global Automotive Seats Market Size by Seat Type (Bucket and Bench/Split Bench), Technology (Standard, Powered, Heated, Heated & Memory, Heated & Ventilated, Heated, Ventilated, and Memory, Heated, Ventilated, Memory, and Massage), Trim Material (Fabric, Synthteic Leather, and Genuine Leather), Material (Aluminum and Steel), Component (Armrest, Pneumatic system, Seat belt, Seat frame & structure, Seat headrest, Seat height adjuster, Seat recliner, and Seat track) Vehicle (Passenger Car, Light Commercial Vehicle, Truck, and Bus) Electric Vehicle (BEV, PHEV, and FCEV) Off-Highway Vehicle (Construction /Mining Trucks and Agriculture Tractors) Regions, Segmentation and Projection till 2028
https://greyviews.com/reports/global-automotive-seats-market/26
Global Automotive Forging Market Size by Material (Aluminum and Steel), By Technology (Closed Die, Open Die, and Others), Components (Engine Components, Steering/chassis components, Transmission components, Drive Components, and Other Components), and Vehicle Type (Passenger Car, Light Commercial Vehicles, and Heavy Commercial Vehicles), Regions, Segmentation and Projection till 2028
https://greyviews.com/reports/global-automotive-forging-market/18
Global Hybrid Vehicle Market Size by Electric Powertrain type (Parallel Hybrid and Series Hybrid), Component type (Battery, Electric Motor, and Transmission), Propulsion (HEV, PHEV, and NGV, Hybridization (Full Hybrid, Micro-Hybrid, and Mild Hybrid), and Vehicle Type (Passenger Car and Commercial Vehicle), Regions, Segmentation and Projection till 2028
https://greyviews.com/reports/global-hybrid-vehicle-market/16
Global Brake Friction Market Size by Product Type (Brake Disc, Pad, Shoe, Drum, Liner), Disc Material (Metallic Disc and Ceramic Disc), Vehicle Type (Passenger Car, Lightweight Commercial Vehicle, Truck, and Bus), Type (Woven and Molded), Regions: Segmentation and Projection till 2028
https://greyviews.com/reports/global-brake-friction-market/11
Global Automotive Airbags & Seatbelts Market Size by Airbags Type (Frontal Airbags, Knee Airbags, and Side & Curtain Airbags) Seatbelts Type (2-point Seatbelts and 3-point Seatbelts), Vehicle (Passenger Cars (PC), Light Commercial Vehicle (LCV), Buses, and Trucks), Component (Airbag Inflator, Airbag Control Unit, and Airbag), and Electric Vehicle (BEV, FCEV, HEV, and PHEV) Regions, Segmentation and Projection till 2028.
https://greyviews.com/reports/global-automotive-airbags-seatbelts-market/2