The latest report by IMARC Group, titled “Automotive Motors Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the automotive motors market trends. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global automotive motors market size reached US$ 39.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 59.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2024-2032.
Automotive Motors Market Trends:
The global market is primarily driven by the increasing adoption of electric vehicles (EVs) and hybrid technologies. In line with this, the advancement in motor technologies that enhance energy efficiency is also providing an impetus to the market. Moreover, the significant increase in automation and vehicle electrification is acting as a crucial growth-inducing factor for the market. In addition to this, the growing emphasis on vehicle safety and performance standards is resulting in heightened demand for high-quality automotive motors.
Besides this, the surge in consumer demand for advanced driver-assistance systems (ADAS) and other electronic features in vehicles is creating lucrative opportunities in the market. Also, the expansion of the automotive manufacturing sector in emerging economies is positively impacting the market. The market is further driven by the implementation of stringent environmental regulations that encourage the adoption of fuel-efficient technologies. Apart from this, the availability of automotive motors through diverse distribution channels is propelling the market.
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Automotive Motors Market Scope and Growth Analysis:
The scope of the global market is expanding as the automotive industry shifts towards more sustainable and efficient technologies, increasing the demand for innovative motor solutions. As per the market analysis, the rapid development of autonomous vehicles is significantly broadening the scope for high-precision automotive motors, essential for safety and functionality.
Moreover, the proliferation of electric vehicles globally is enhancing the market's scope by necessitating specialized motors that are efficient, durable, and cost-effective. The integration of Internet of Things (IoT) capabilities in motor systems is further broadening the scope by enabling more connected and intelligent vehicles. Additionally, market scope is expanded by the growing need for customization and personalization in automotive design, influencing motor specifications and variants. Market analysis indicates that the changing landscape of global trade policies and automotive standards is continuously reshaping market dynamics, broadening the scope for regulatory-compliant and innovative motor products.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- BorgWarner Inc.
- Brose Fahrzeugteile SE & Co. KG
- Bühler Motor GmbH
- Continental AG
- Johnson Electric Holdings Limited
- Mabuchi Motor Co. Ltd.
- MAHLE GmbH
- MITSUBA Corporation
- Mitsubishi Electric Corporation
- Nidec Corporation
- Ricardo PLC
- Robert Bosch GmbH
- Siemens AG
- Valeo
Automotive Motors Market Segmentation:
Our report has categorized the market based on region, motor type, vehicle type, sales channel, and application.
Breakup by Motor Type:
- Brushed DC Motor
- Brushless DC Motor
- Stepper Motor
- Traction Motor
Breakup by Vehicle Type:
- Electric Vehicle
- BEV
- PHEV
- Non-Electric Vehicle
- Passenger
- LCV
- HCV
Breakup by Sales channel:
- Original Equipment Manufacturer (OEM)
- Aftermarket
Breakup by Application:
- Safety
- Comfort
- Performance
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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