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Automotive Motors Market by EV Motor Type, ICE Motor Type, Vehicle Type, Electric Vehicle Type, Application, Function and Region - Global Forecast to 2027

Automotive Motors Market by EV Motor Type, ICE Motor Type, Vehicle Type, Electric Vehicle Type, Application, Function and Region - Global Forecast to 2027

  • June 2022
  • 326 pages
  • ID: 5043161
  • Format: PDF
  • MarketsandMarkets

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The global automotive motors market for ICE vehicles is projected to grow from USD 23.0 billion in 2022 to USD 28.7 billion by 2027, at a CAGR of 4.5%. Rising demand for automobile safety by major countries and the use of additional comfort features, specially in mid-priced and luxury automobile segments will lead to a growing demand for automotive motors. OEMs are currently working with component manufacturers to provide such comfort and safety features to their customers at a better customization (available in higher priced models) of their vehicles. The shift to EVs and recovery of automobile sales from the decline during the pandemic will further increase demand for automotive motors around the world.

Brushless Motors to be a fast growing segment during the forecast period.
The major applications of brushless motors include EGR motors, electric sunroof motors, and many others.Brushless motors are more efficient and durable than brushed motors as these are not susceptible to damage or breakage and undergo minimal wear and tear, attributed to the absence of a physical commutator and brushes.

Also, brushless motors have better speed and torque and can maintain or increase torque at various speeds.Importantly, there is no power loss across brushes, making the motors significantly more efficient.

Brushless motors also provide high output power, better heat dissipation, higher speed ranges, and low-noise operation.Brushless DC motors provide significant benefits in terms of power density, thereby providing better fuel economy, reduced weight, and lower emissions.

They are used in cabin HVAC blowers, pumps, and windshield wipers, among others. The factors accelerating the growth of brushless motors in the global market include manufacturing advanced technology in vehicles. Since regulations enforced by the governments have encouraged manufacturers and customers to opt for electric and hybrid vehicles, there has been an increase in the demand for motors offering lesser weight and high speed. The use of brushless motors in the power steering system can improve fuel consumption by 3–5% if an electric system replaces the hydraulic system. The motors are useful in both ICE and electric drives, so their demand is more hyped in the market.

Europe is expected to have a higher demand for comfort and safety motors during the forecast period.
The automotive sector is one of the key industries in Europe.As per the European Commission, there are approximately 180 automobile facilities across the EU, and the automobile industry is the largest investor in R&D.

Europe is a hub for automotive giants and premium vehicles.However, in recent years, there has been a slump in the production of vehicles and an increase in competition from emerging markets such as India, China, and Brazil.

The increasingly stringent regulations related to environmental issues are encouraging market players to develop advanced vehicles with better emission control, along with improving safety and comfort features, further boosting the market for automotive motors.The European region for this study is segmented into Germany, France, Spain, UK, Italy, and Rest of Europe.

It is a major hub for many renowned OEMs for delivering quality and high-performance vehicles. Most European vehicles are equipped with high-end automotive motors technology. However, Eastern European countries still lag behind Western European countries such as the UK, Germany, France, and Spain, in terms of vehicle norms and technology. The major drivers for the automotive motors market in Europe are the high focus on emission norms, rising demand for electric and luxury vehicles, as well as the decreasing display prices, high production volume, and integration with software technologies. The region is home to leading automotive manufacturers like BMW, Audi, Mercedes-Benz, Scania, Volvo, and Volkswagen. These manufacturers are focusing on developing robust electric and autonomous vehicle technologies, which would further boost the demand for automotive motors.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
• By Company Type: Tier I - 67%, Others - 9%, and OEMs - 24%
• By Designation: CXOs - 33%, Managers - 52%, and Executives - 15%
• By Region: North America - 42%, Europe - 22%, Asia Pacific - 32%, Rest of the World – 4%
The automotive motors market is dominated by established players such as Bosch (Germany), Denso (Japan), BorgWarner (US), ZF Group (Germany), and Continental AG (Germany). These companies adopted new product launches, undertook deals, and other strategies to gain traction in the automotive motors market.

Research Coverage:
The report covers Automotive Motors Market by EV motor type (brushless, brushed, traction, induction, stepper, others), ICE motor type, vehicle type (PC, LCV, HCV), electric vehicle type, application, function (performance, safety, comfort) and region (Asia Pacific, North America, Europe and Rest of the World). It also covers the competitive landscape and company profiles of the major players in the automotive motors market ecosystem.

The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:
• The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall automotive motors market and its subsegments.
• This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
• The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.

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