Growth analysis and Major Competitors of Automotive Motors Market
According to the new market research report “Automotive Motors Market by Product Type (Direct Current Brushed Motors, Direct Current Brushless Motors, Stepper Motors), by Application (Performance Motors, Comfort Motors, Safety Motors), by Vehicle Type (Passenger Cars, Two/Three Wheelers and Commercial Vehicles), by Commercial Vehicles (Light Commercial Vehicles and Heavy Commercial vehicles), by Electric Vehicle Type ( Plug-in Hybrid Electric Vehicle, Hybrid Electric Vehicle, Battery Electric Vehicle) and Geography–Global Forecast to 2025″ has generate the revenue of US$ 24.3 Billion in 2016.
Rising demand for active safety systems, especially in passenger vehicles, is one of the prime growth factors for the global automotive motors market. Furthermore, government regulations regarding automotive safety is influencing automakers to integrate these advanced systems in vehicles. Rising adoption of advanced emergency braking systems, anti-lock braking, and side & knee airbags are factors expected to increase demand for electric motors in turn augmenting market growth. Increasing sales of automotive vehicles is the key underlying factor supporting market growth. According to Organisation Internationale des Constructeurs d’Automobiles in 2016, 93.9 million units of vehicles had sold globally up from 89.7 million in 2015.
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Key Takeaways of the Automotive Motors Market: Global automotive motors market was valued at US$ 24.3 billion in 2016 and is projected to reach US$ 40.3 million by 2025, exhibiting a CAGR of 5.8% over the forecast period
Brushless DC motors segment is projected to increase with the highest CAGR over the forecast period. This is attributed to features of these motors such as high speed ranges, better heat dissipation, small size, high output power, less-noise operation as compare to brushed DC motors.
Passenger cars segment held the dominant position in 2016 and is projected to retain its dominance throughout the forecast period. High sales of passenger cars and increasing safety concerns has led to rising demand for automotive motors in passengers cars. According to Coherent Market Insights, it is projected that 76.55 million units of passenger cars vehicles will be sold by 2020.
Asia Pacific held the dominant position in the global automotive motor market in 2016 and is expected to retain its dominance over the forecast period. Asia Pacific automotive motors market is also projected to exhibit the highest CAGR over 2017–2025. High volume sales of the automotive industry in Asia Pacific region is a key driving factor for growth of the market. India, China, and Japan are the growth engines in the regional market. According to Organisation Internationale des Constructeurs d’Automobiles in 2016, 28, 3.7, and 4.97 million units of vehicles were sold in China, India, and Japan, respectively.
Some of the major players in the global automotive motors market are Siemens AG, Robert Bosch GmbH, Continental AG, Denso Corporation, Magna International, Mitsubishi Electric Corporation, Valeo S.A., Mahle Group, Nidec Corporation, and Borgwarner Inc.
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