Report ID: SQMIG25A2254
Automotive Torque Actuator Motor Market Size, Share, Growth Analysis, By Product (Dc Motors, Stepper Motors, and Traction Motors), By Vehicle Type(Two-wheelers, Electric Two-wheelers, Passenger Cars, Light Commercial Vehicles (LCVs)), By Sales Channel(OEM and Aftermarket), By Application(Performance, Safety and Comfort), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2254 |
Region:
Global |
Published Date: April, 2024
Pages:
223
|
Tables:
118 |
Figures:
74
Automotive Torque Actuator Motor Market Insights
Global Automotive Torque Actuator Motor Market size was valued at USD 19.83 Billion in 2022 and is poised to grow from USD 21.14 Billion in 2023 to USD 35.25 Billion by 2031, growing at a CAGR of 6.6% in the forecast period (2024-2031).
The automotive torque actuator motor market witnesses a steady growth rate across the globe, driven by technological advancements, increasing demand for automotive electrification, and increasing focus on fuel efficiency and emissions reduction. Torque actuator motors enable precise control of torque distribution in modern transportation systems.
Due to stringent fuel efficiency regulations worldwide, automakers are increasingly resorting to torque actuator motors to improve engine performance and transmission performance efficiency. These devices provide precise torque management for improved fuel efficiency, and reduced emissions. The transition to electric and hybrid vehicles is driving demand for torque actuator motors. These devices are essential components of electric vehicles, contributing to torque vectors, regenerative braking, and overall vehicle dynamics.
Automotive Torque Actuator Motor Market Report Snapshots
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