USD 22.01 billion
Automotive Motor Market Size, Share, Growth Analysis, By Product(DC motors (Brushed, Brushless), Stepper motors, Traction motors), By Vehicle Type(Two-wheelers, Electric Two-wheelers, Passenger cars, Light commercial vehicles (LCVs)), By Sales Channel(OEM, Aftermarket), By Applications(Performance, Safety, Comfort), By Region - Industry Forecast 2024-2031
Report ID:
SQSG25A2017 |
Region:
Global |
Published Date: April, 2024
Pages:
165
|Tables:
122
|Figures:
77
Automotive Motor Market Insights
Global Automotive Motor Market size was valued at USD 22.01 billion in 2019 and is poised to grow from USD 23 billion in 2023 to USD 34.18 billion by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).
Motors are an indispensable piece of a vehicle that assist with playing out its activity easily. Present in any vehicle activity includes ceaseless rotational movement. Motors are engaged with different uses of a vehicle, such as, seat cooling fans, power guiding motors, battery cooling fans, motor cooling fans, wiper framework, power window motors, and others, where comfort is as significant as the driving proficiency. Rising accentuation on enhancing plan and assembling processes for conveying better items with further developed effectiveness is expected to look good for the item interest. The automotive motor market is seeing gigantic development credited to the expansion in auto creation and the quantity of motors utilized in a specific vehicle.
US Automotive Motor Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
DC Motor
Fastest Growth
DC Motor
Growth Rate
4.5% CAGR
Global Automotive Motors Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Automotive Motor Market Segmental Analysis
The Global Automotive Motor Market is segmented based on product, vehicle type, sales channel, applications and region. Based on Product Automotive Motor Market is categorized into DC motors, Stepper motors, and Traction motors. DC motors are further divided into Brushed and Brushless motor. The vehicle type segment is bifurcated into Two-wheelers, Electric Two-wheelers, Passenger cars, Light commercial vehicles (LCVs), Heavy commercial vehicles (HCVs), Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV) and Hybrid Electric Vehicle (HEV). Based on sales channel, the automotive motor market is classified into OEM and Aftermarket. By application, the automotive motor market study is segmented into Performance, Safety and Comfort. Based on the region Automotive Motor Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Automotive Motor Market Analysis by Product
Brushed DC motor held the largest market share in 2021, credited to simple drive control model and minimal expense. They are not difficult to install and are utilized to give high power and speed to the vehicle making them ideal for different automotive usage. Automotive functions including windshield wipers, cooling fan, power windows, etc utilize brushed DC motor.
The traction motor is expected to observe the quickest development over the forecast period. They are primarily utilized in Hybrid Electric Vehicles (HEV) and Battery Electric Vehicles (BEV) due to its high effectiveness and low power utilization. The rising acceptance in electric automobiles projected to spike the demand by 2028.
Automotive Motor Market Analysis by Vehicle Type
The electric vehicle section is supposed to observe the swiftest growth over the estimated period. Electric vehicles hold huge potential to further develop nearby air quality, diminish fossil fuel byproducts, and increase energy security. The business has moved its concentration toward crossover and electric vehicles because of the rising concerns of fossil fuel byproducts from traditional fuel-driven cars and other transportation modes. Therefore, it is expected to drive the segment development in the upcoming years.
Automotive Motor Market Analysis by Sales Channel
Based on the sales channel, the automotive motor market has been classified into OEMs and aftermarket. The OEM division has represented a significant market size in 2021. Nonetheless, aftermarket arose as a predominant section in 2021 and is assessed to observe the swiftest CAGR over the estimated period. The motors require replacement after a specific period due to their elongated usage and for better vehicular optimization that is driving the automotive motor market growth.
Automotive Motor Market Analysis by Application
The comfort application section represented the largest market share in 2021. The rising interest for passenger vehicles for transportation, the demand for the comfort of travelers and drivers has likewise expanded. High level car hardware, such as, electronically customizable seats utilize these motors. The motor is coordinated with a microcontroller platform that utilizes a high level algorithm to diminish the tiring effect on the driver as well as the traveler. Moreover, in electric powered steering frameworks, the motor is coordinated with a microcontroller platform to change the steering wheel placement.
Global Automotive Motors Market By Type, 2021 (%)
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Automotive Motor Market Regional Insights
Asia Pacific represented the biggest revenue share in 2021 and is assessed to display the quickest CAGR over the estimate period. This is attributed to the developing vehicle manufacturing in developing nations, such as India, China, and Japan.
North America is estimated to arise as the second-biggest region by 2028. The solid presence of automobile manufacturers in the U.S. and Canada is one of the key property driving the North American market.
Global Automotive Motors Market By Geography, 2022 - 2028
- Largest
- Fastest
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Automotive Motor Market Dynamics
Automotive Motor Market Driver
- Advancement in electric vehicle fabrication technology and a rising emphasis on renewable source of energy has proved to be the key factor driving the automotive motor demand for electric vehicles.
- Better living standards and improved disposable income has augmented the demand of premium cars across the globe. Functions such as safety innovations were first presented in the premium and luxury car segments, and this surge in sale would perform as a push for the automotive motors industry.
- Numerous product inventions, such as the initiation of high-efficiency and compact automotive motors that aids in simplified manufacturing processes and lowest possible wastes, are delivering a considerable enhancement to the automotive motor market growth.
Automotive Motor Market Restraint
- The raw materials applied in production of motors comprises of copper wires and steel bars. Variations in the raw material cost are limiting the growth of the overall automotive motors industry.
- Increased cost and weight of the total system are expected to hinder the market development.
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Automotive Motor Market Competitive Landscape
The Automotive motor Market is highly competitive, with the existence of large number of firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve market share and profitability. Some of the major players in the market are Nidec Corporation, Johnson Electric Holdings Ltd., Robert Bosch GmbH, Denso Corporation, Continental AG, and Mitsubishi Electric Corporation among several others who are driving the market.
Automotive Motor Market Top Player’s Company Profiles
- Nidec Corporation
- Siemens AG
- Robert Bosch GmbH
- Denso Corporation
- Mitsubishi Electric Corporation
- Johnson Electric Holdings Limited
- Valeo S.A.
- BorgWarner Inc.
- Mahle GmbH
- Hitachi Automotive Systems, Ltd.
- Continental AG
- Magna International Inc.
- Aisin Seiki Co., Ltd.
- WEG Industries
- Hella GmbH & Co. KGaA
- Mitsuba Corporation
- ABB Ltd.
- Brose Fahrzeugteile GmbH & Co. KG
- Shanghai Electric Group Co., Ltd.
- Rheinmetall Automotive AG
Automotive Motor Market Recent Developments
- In August 2020, BorgWarner announced it’s plans for building an Integrated Drive Module (iDM) for all new Ford’s Mustang Mach-E SUV. The iDM involves a BorgWarner gearbox and thermal-management system incorporated with motor and power electronics.
- In April 2019, Denso laid out its investment policies for almost USD 1.6 Billion over three years i.e. from 2018 to late 2020. This is done to support its aggressive advancement and manufacture of electric automotive systems, technologies and products.
Automotive Motor Key Market Trends
- Motors are engaged with different uses of a vehicle, such as, seat cooling fans, power guiding motors, battery cooling fans, motor cooling fans, wiper framework, power window motors, and others, where comfort is as significant as the driving proficiency.
- The traction motor is expected to observe the quickest development over the forecast period. They are primarily utilized in Hybrid Electric Vehicles (HEV) and Battery Electric Vehicles (BEV)
- The business has moved its concentration toward crossover and electric vehicles because of the rising concerns of fossil fuel byproducts from traditional fuel-driven cars
- The motors require replacement after a specific period due to their elongated usage and for better vehicular optimization that is driving the market growth.
- The solid presence of automobile manufacturers in the U.S. and Canada is one of the key property driving the North American automotive motor market
Automotive Motor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, better living standards and improved disposable income has augmented the demand of premium cars across the globe. Functions such as safety innovations were first presented in the premium and luxury car segments, and this surge in sale would perform as a push for the automotive motors industry. However, increased cost and weight of the total system are expected to hinder the market development.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 22.01 billion |
| Market size value in 2031 | USD 34.18 billion |
| Growth Rate | 4.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Motor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Motor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Motor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Motor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Motor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Motor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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