Report ID: SQSG25A2017
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 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.
Automotive Motor Market Report Snapshots
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