Market Highlights
In addition, the global automotive motor market has been expected to increase at a CAGR of 6.55%, with a significant value during the projected period of 2022-2030. The increasing production of the vehicles, ongoing technological advancements in such segments and the rising demand for energy-efficient vehicles are expected to drive the automotive motor market over the predicted years. Automobile vehicles operate through electricity, unlike its counterparts that run on fuel. Instead of the internal combustion energy, such vehicles run on an electric motor which requires a constant supply of the energy from the batteries to operate. There are several varieties of batteries used in such types of vehicles. It includes lithium-ion, molten salt, zinc-air and various nickel base designs. The electric vehicle was primarily designed to replace the conventional ways of travel as they lead to environmental pollution.
These sectors also have gained popularity due to the numerous technological advancements. It out-forms the conventional vehicles, which have higher fuel economy capacity, low carbon emission and maintenance, convenience for the charging at home, smoother drive and reduced sound from the engine. There are three types of electric vehicle batteries: hybrid and plug-in hybrid vehicles. However, electric vehicles require no engine oil changes but are slightly more expensive than their gasoline equivalents. All the factors like the increasing demand for the fuel-efficient, high-performance and low-emission vehicles, stringent government rules and regulations towards the vehicle emission, the reduction of the cost of the electric vehicle batteries, and the increasing of the fuel costs supplement the growth of the electric vehicle market. But due to the implementation of the strict lockdown procedures, several industries have been facing a loss in the production work. The stoppage of international commercial activities strongly affects the global market sectors.
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Key Players
The key players in automotive motor market are Robert Bosch GmbH (Germany), Johnson Electric Holdings Ltd. (Hong Kong), Continental AG (Germany), Nidec Corporation (Japan), Denso Corporation (Japan), and Mitsubishi Electric Corporation (Japan). Siemens AG (Germany), Magna International (Canada), Valeo S.A. (France), Borgwarner Inc. (U.S.), Mitsuba Corporation (Japan), Mahle Group (Germany), PMP Auto Components Pvt. Ltd. (India), SAIC Motor Corporation Limited (China), REIL Electricals India Limited (India) are among others.
By region, the market is segmented based on North America, Asia Pacific, Europe, and Rest of the World. The Asia Pacific region is anticipated to witness the highest and the fastest growth over the forecast period, owing to the expanding production and sales of electric vehicles. The growing demand for passenger car and commercial vehicle, will result in increased sales of motors. Government in emerging economies have taken various initiatives to increase the production of vehicle. There has been increased investment in the automotive industry by the OEM to develop cost-effective products to compete in the market. According to OICA, the new vehicles sales have been increased from 2013 to 2016.
It has been noted that in 2013, the vehicle sold were 85.6 million while in 2016 it reached to 93.8 million. This growth in the automotive industry will boost the motor industry. North America is expected to be the second largest market because of growing demand for electric vehicles. There has been increasing demand for electric vehicles and the high-end car in countries such as U.S. and Canada. The increased demand will result in more installation of motors in the vehicles.
Europe is expected to be the third largest market due to increase in the registration of passenger cars. Cutthroat competition in the automotive industry in Europe has resulted in manufacturers prioritizing quality within automobiles. The improve quality products in the vehicle will result in increased installation of motors. In Europe, Germany is expected to be the largest country to grow at highest CAGR during the forecast period.
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Scope of the Report
This study provides an overview of the global automotive motor market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Automotive Motors market by its product, application, vehicle type, and electric vehicle type, and region
By Product
By Application
By Vehicle Type
By Electric Vehicle Type
By Region
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis……
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