The Global Automotive Motors Market size was valued at USD 32 billion in 2021 and is expected to reach USD 50 billion in 2030 at a CAGR of 7% from 2021 to 2030.
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Over the last few years, there has been a steady increase in the use of electric motors in automobiles. It is projected that increased focus on designing and manufacturing processes that are more efficient would lead to better products with more demand. The market is expanding dramatically, which can be attributed to rising auto production and the number of motors used in a single vehicle.
The development of compact, high-efficiency motors in recent years has opened up new options for the vehicle industry. The motors are also used in safety fittings, power windows, power steering, and engine cooling fans, among other things. Need is also being fueled by the rising demand for features like motorised seats, wipers, doors, movable mirrors, and massage seats.
The most crucial component of any vehicle, the motors enable the flawless execution of a variety of tasks. For the vehicles' continuous rotation, it is very important. There are numerous ways that motors are applied in vehicles. It is utilised in the motors of the power steering, power window, wiper system, and fans used in engine cooling, in addition to the fans used in seat cooling. The COVID-19 pandemic outbreak had a devastating effect on the automotive industry.
The need for convenience and safety in vehicles has increased in many developed countries, including the United States. The market is anticipated to grow strongly over the next few years as a result of the rise in comfort demand. In the upcoming years, the industry will expand due to a number of variables, including luxury, comfort, and safety. In the upcoming years, the introduction of the most cutting-edge infotainment systems and the widespread use of these systems will also fuel market expansion. During the projection period, central controllers and telematics will drive market expansion.
The market is anticipated to grow well in the upcoming years as a result of the significant increase in the use of electronic components in automobiles as well as the adoption of software. One of the elements influencing the market's expansion in the upcoming year is the need for electric automobiles. Due to its ability to lessen environmental impact, electric vehicles are becoming more and more popular as pollution levels rise in various countries throughout the world. Another factor that will contribute to the market's expansion over the forecast period is the depletion of fossil fuels, which cannot be replenished. The market for automotive motors will continue to expand in the upcoming years despite the introduction of electric vehicles and the growth in their sales.
Global Automotive Motors Market Report Coverage
|Market Size in 2021:||USD 32 Billion|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||7%|
|2030 Value Projection:||USD 50 Billion|
|Historical Data for:||2017 - 2020|
|No. of Pages:||210|
|Tables, Charts & Figures:||123|
|Segments covered:||By Motor Type, By Application, By Sales Channel, By Region|
|Companies Covered:||Nidec Corporation, Johnson Electric Holdings Ltd., Robert Bosch GmbH, Denso Corporation, Continental AG, Mitsubishi Electric Corporation|
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One of the factors limiting the market's growth is the existence of strict environmental rules or norms. Customers want for vehicles that offer higher gas mileage and those that produce less hazardous emissions. In order to make cars lighter and more efficient, there has been an increase in the need for lightweight materials. The pricing of different vehicles is particularly important because of the intense rivalry in the automotive motors industry. Cost optimization is a problem in the market, especially when it comes to luxury vehicles.
COVID 19 Impact
Lockdowns, travel restrictions, and business closures brought on by COVID-19 have had an impact on the economies and sectors of numerous nations. The closing of numerous facilities and factories has had a severe impact on the production, delivery schedules, and sales of goods in the international automotive motor market. Due to the international trade restrictions and lockdowns, COVID-19 had a detrimental impact on the GDP growth of both established and developing economies. The COVID-19 pandemic's effects on auto manufacturing have slowed the expansion of the worldwide automotive motor market since production facilities have been shut down and the supply chain has been disrupted in a number of global locations. Due to COVID limits, several motor manufacturers found it difficult to keep up with demand. The automotive motor market, however, is making a comeback and is anticipated to expand quickly throughout the anticipated time.
The global automotive motors market is segmented into Motor Type, Sales Channel, Application, Vehicle Type and Region.
Global Automotive Motors Market, By Motor Type
Based on motor type, the global automotive motors market is segmented into Brushed DC Motor, Brushless DC Motor, Stepper Motor, and Traction Motor. Due to its low cost and straightforward drive control model, brushed DC motors held the biggest market share. They are perfect for a variety of automotive applications because they are simple to install and used to give the vehicle exceptional speed and power. Brushed DC motors are used in systems such as power windows, cooling fans, windshield wipers, and more. In 2021, the second-largest market share belonged to brushless DC. Because there is no actual commutator or brush, the brushless DC motor is not as prone to damage or breakage and experiences less wear and tear. Brushless DC motors are more dependable, efficient, and have a longer lifespan. The BLDC motor offers notable advantages in terms of power density in a number of applications, resulting in higher fuel efficiency, lighter weight, and lower emissions. They are employed, among other things, in pumps, windshield wipers, and cabin HVAC blowers.
Global Automotive Motors Market, By Sales Channel
On the basis of sales channel, the global automotive motors market is segmented into OEMs and aftermarket. In 2021, a large market share was held by the OEM segment. However, the aftermarket emerged as the leading sector in 2021 and is anticipated to increase at the highest rate during the upcoming years. Due to their prolonged usage and for greater vehicle performance, which is driving the segment, the motors must be replaced after a specific amount of time.
Global Automotive Motors Market, By Application
On the basis of application, the global automotive motors market is segmented into safety, comfort, and performance. Automotive motors are used for a variety of purposes, such as comfort, performance, and safety. In 2021, the comfort application sector held the largest market share. Among other types of vehicles, automotive motors are utilised in cars, hybrid vehicles, and electric vehicles. The need for passenger and driver comfort has increased along with the need for passenger vehicles for transportation. These motors are used in high-tech automobile accessories like electronically adjustable seats. The impact on both the driver and the passenger is reduced because to the motor's integration with a microcontroller platform that employs a cutting-edge algorithm. Similar to this, in electric power steering systems, the motor is integrated with a platform controlled by a microcontroller.
Global Automotive Motors Market, By Vehicle Type
Based on vehicle type, the global automotive motors market is segmented into electric vehicle and non-electric vehicle. Over the projected period, the electric vehicle market is anticipated to increase at the fastest rate. Electric vehicles have a huge impact on energy security, carbon emissions reduction, and local air quality. Due to growing worries about carbon emissions from traditional fuel-driven cars and other kinds of transportation, the industry has moved its focus toward hybrid and electric vehicles. In consequence, it is projected that this will fuel category expansion in the years to come.
Global Automotive Motors Market, By Region
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On the basis of region, the global automotive motors market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Several government rules have made it mandatory for cars to have safety features like airbags, anti-lock brakes, and start-stop systems, among others. The need for these motor installation-required safety feature components is expected to grow in the near future. In terms of revenue, Asia Pacific held the greatest market share in 2021 and is anticipated to grow at the fastest rate during the forecast period. This is attributed to rising auto production in developing nations like China, India, and Japan.
Recent Developments in Global Automotive Motors Market
- September 2020: BorgWarner said that it would create a power iDM for the Ford Mustang electrified.
List of Key Market Players
- Nidec Corporation
- Johnson Electric Holdings Ltd.
- Robert Bosch GmbH
- Denso Corporation
- Continental AG
- Mitsubishi Electric Corporation
By Motor Type
- Brushed DC Motor
- Brushless DC Motor
- Stepper Motor
- Traction Motor
By Sales Channel
By Vehicle Type
- Electric Vehicle
- Non-Electric Vehicle
- North America, by Country
- North America, by Motor Type
- North America, by Sales Channel
- North America, by Application
- North America, by Vehicle Type
- Europe, by Country
- The Netherlands
- Rest of Europe
- Europe, by Motor Type
- Europe, by Sales Channel
- Europe, by Application
- Europe, by Vehicle Type
- Asia Pacific, by Country
- South Korea
- Rest of Asia Pacific
- Asia Pacific, by Motor Type
- Asia Pacific, by Sales Channel
- Asia Pacific, by Application
- Asia Pacific, by Vehicle Type
Middle East & Africa
- Middle East & Africa, by Country
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Middle East & Africa, by Motor Type
- Middle East & Africa, by Sales Channel
- Middle East & Africa, by Application
- Middle East & Africa, by Vehicle Type
- South America, by Country
- Rest of South America
- South America, by Motor Type
- South America, by Sales Channel
- South America, by Application
- South America, by Vehicle Type
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