all report title image

Motors are an integral part of vehicle components such as seat cooling fans, engine cooling fans, power steering motors, battery cooling fans, and power window motors. Growing consumer inclination towards such advanced features in vehicles is creating a conducive environment for the growth of the automotive motor market. Moreover, increasing the sales volume of vehicles is expected to augment the market growth.

Furthermore, the growing adoption of electric vehicles is expected to drive the growth of the automotive motor market. In emerging economies such as India and China, electric vehicles are steadily becoming popular as an alternative to conventional gasoline-powered vehicles, owing to the former’s fuel-efficient and low-carbon emission properties. The performance of an electric car depends majorly on its motors and battery. Presently, brushed DC motors, brushless DC motors, AC induction motors, permanent magnet synchronous motors (PMSM), and switched reluctance motors (SRM) are the types of motors used for electric vehicles. These motors convert electric energy into mechanical energy (or vice versa) for propulsion of the vehicle, to enable regenerative braking or for charging batteries. Furthermore, increasing demand for electric vehicles globally is expected to positively affect the automotive motor market growth over the forecast period

The global automotive motor market was valued at US$ 22,500 Mn in 2021.

Market Opportunity

High demand for Luxury vehicles presents the growth opportunity

Rapid requirements for advancements in several fields, such as artificial intelligence and machine learning have consequently directed the changes in autonomous vehicles. The growth in R & D of the electrification of vehicles is one of the emerging trends in the luxury vehicle industry. This impact is likely to expand the growth of the automotive motor market. Furthermore, the rapid changes in various features in the motor vehicles, such as personal voice assistance, automatic driving assistance, and retina recognition, are also likely to promote the sales of luxury vehicles.

Rise in the Popularity of Electric vehicles

With the rising environmental concerns due to increasing Co2 emissions, WHO is tightening emission rules and imposing various regulations. Thus, the demand for sustainable and eco-friendly transportation, such as Electronic vehicles, is increasing. Due to the various features and advancements in the technology of electric vehicles, most of buyers are shifting their views toward buying of Electric vehicles. An increase in the prices of fuel is also another reason for the rising demand for Electric Vehicles.

Market Restraint:

Disturbance in the supply chain

Supply chains are under huge pressure to counter supply variability halting from huge price inflation and severe material scarcity.   

CMI table icon

Automotive Motor Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 22,500 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 5.5 % 2030 Value Projection: US$ 29,300 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East and Africa: Israel, GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:
  • By Product Type: Direct Current Brushed Motors, Direct Current Brushless Motors,Stepper Motors
  • By Application: Performance Motors, Comfort Motors, and Safety Motors
  • By Vehicle Type: Passenger Cars, Two/Three Wheelers, and Commercial Vehicles( Light Commercial Vehicles and Heavy Commercial vehicles)
  • By Electric Vehicle Type: Plug-in Hybrid Electric Vehicle, Hybrid Electric Vehicle, and Battery Electric Vehicle
Companies covered:

Siemens AG, Robert Bosch GmbH, Continental AG, Denso Corporation, Magna International, Mitsubishi Electric Corporation, Valeo S.A., Mahle Group, Nidec Corporation, and Borgwarner Inc.

Growth Drivers:
  • High Demand for Luxury Vehicles to Present the Growth Opportunity 
  • A rise in the Popularity of Electric Vehicles
Restraints & Challenges:
  • Disturbance in Supply Chain

Global Automotive Motor Market - Impact of Coronavirus (Covid-19) Pandemic:

Covid-19 had a significant impact on practically every business because of the numerous regulations the government set on the production of automobiles. As a result, the majority of businesses experienced sharp fluctuations in revenue.

Additionally this pandemic has also caused disruptions in the automotive supply chain and a downward trend in the market for automobile motors. The automotive motor market, however, is anticipated to rebound in the coming years, according to CMI analysis.

Competitive Scenario

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.

Recent Developments:

  • In February 2022 Renault Group, a prominent player in French, designs, manufactures, repairs, maintains, sells, and leases motor vehicles, and Valeo Siemens, the Leading automotive supplier, declared collaboration in order to introduce a new generation of automotive electric motors in France.
  • In February 2021, High Voltage Hairpin (HVH) electric motor was introduced by BorgWarner. This motor can power a variety of hybrid and electric applications in commercial vehicles, including a significant European OEM.

Forecasted Asia Pacific is expected to hold a dominant position in the Global Automotive Motor Market in 2030

Statistics:

Asia Pacific held a dominant position in the Global Automotive Motor market in 2021, owing to increasing demand for vehicles in emerging economies such as India and China.

Figure 1: Global Automotive Motor Market Share (%), By Region, 2021

Automotive Motor  | Coherent Market Insights

Asia Pacific Global Automotive Motor Market is expected to be one of the prominent regions in the global market and witness high growth during the forecast period. This is owing to the increasing demand for vehicles in emerging economies such as South Korea, India, and China. Moreover, rapid industrialization, high disposable income, and high growth in the electronics, automotive, and medical industries. It is expected to boost regional market growth.

Figure 2: Global Automotive Motor Market (US$ Mn) Analysis and Forecast, 2017 – 2030 

Automotive Motor  | Coherent Market Insights   

The Global Automotive Motor Market was valued at US$ 23,000 Mn in 2022 and is expected to reach US$ 29,300 Mn by 2030, growing at a CAGR of 5.5% between 2022 and 2030.

Automotive motors are electric systems integrated in various automotive components such as airbags, ABS, and power windows, which help enhance vehicle performance, improve safety and increase comfort. Rampant growth of the global automotive sector, especially the electric vehicle segment, along with stringent government regulations pertaining to vehicle safety are augmenting the market growth. Majorly three types of motors are used in automotive which are direct current brushed motors, direct current brushless motors, and stepper motors.

The global Automotive Motors Market was valued for US$ 22,500 Mn in 2021.

Market Dynamics

The recent past has witnessed rising adoption of electric vehicles as they are an eco-friendly option, and are cost-effective. Such vehicles integrate a higher number of automotive motors and thus, growing demand for such motors is expected to fuel the growth of the automotive motors market. According to the International Energy Agency (IEA) report In the Paris Agreement, it was stated that 600 million electric vehicles will be on roads by 2040, which will aid in bringing global warming to below 2°C”.

Moreover, as the pollution has increased in various nations globally, the demand for the electric vehicles has also increased as they help in reducing the amount of the emissions in the environment. The depletion of fossil fuels is another factor that will lead to the growth of the market during the forecast period as fossil fuels cannot be renewed. Since, electric vehicles are introduced & it’s sales is also increasing in the market, the demand for the automotive motors will also grow in the coming years.

 Key features of the study:

  • This report provides an in-depth analysis of the global automotive motors market (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022 to 2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading  market players
  • It profiles leading players in the global automotive motors market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
  • Key companies covered as a part of this study include Siemens AG, Robert Bosch GmbH, Continental AG, Denso Corporation, Magna International, Mitsubishi Electric Corporation, Valeo S.A., Mahle Group, Nidec Corporation, and Borgwarner Inc.
  • Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
  • The global automotive motors market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global automotive motors market

Detailed Segmentation

  • Global Automotive Motors Market, By Product Type:
    • DC Brushed Motors
    • DC Brushless Motors
  • Global Automotive Motors Market, By Application:
    • Performance Motors
    • Comfort Motors
  • Global Automotive Motors Market, By Vehicle Segment:
    • Passenger Cars (excluding electric vehicles)
    • Two/Three Wheelers(excluding electric vehicles)
    • Commercial Vehicles(excluding electric vehicles)
      • Sub-Segment
        • Light Commercial Vehicles
        • Heavy Commercial vehicles
  • Global Automotive Motors Market, By Electric Vehicle:
    • Plug-in Hybrid Electric Vehicle (PHEV)
    • Hybrid Electric Vehicle (HEV)
    • Battery Electric Vehicle (BEV)
  • Global Automotive Motors Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
  • Company Profiles
    • Siemens AG*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • Robert Bosch GmbH
    • Continental AG
    • Denso Corporation
    • Magna International
    • Mitsubishi Electric Corporation
    • Valeo S.A.
    • Mahle Group
    • Nidec Corporation
    • Borgwarner Inc.

Frequently Asked Questions

The global automotive motors market is estimated to surpass US$ 29,300 Million by 2030.
The Market is expected to witness a CAGR of 5.5% during the forecast period (2022-2030).
Growing adoption of electric vehicles is one of the major factors that is expected to propel the growth of the market over the forecast period
Among vehicle types, the passenger cars segment held the dominant position in the market, in 2021, and is estimated to retain its dominance throughout the forecast period. 
Among regions, Asia Pacific held the dominant position in the market in 2021.
Major players operating in the global automotive motors market include Siemens AG, Robert Bosch GmbH, Continental AG, Denso Corporation, Magna International, Mitsubishi Electric Corporation, Valeo S.A., Mahle Group, Nidec Corporation, and Borgwarner Inc

Related Reports

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo