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How COVID-19 Pandemic Will Impact Automotive Motor Market Business Opportunity, And Growth 2020-2026

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Automotive Motor market.

Trusted Business Insights presents an updated and Latest Study on Automotive Motor Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Automotive Motor market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Industry Insights, Market Size, CAGR, High-Level Analysis: Automotive Motor Market

The global automotive motor market size was valued at USD 31.33 billion in 2018 and is expected to expand at a CAGR of 6.7% over the forecast period. The use of electric motors in automobiles has been witnessing steady rise over the past few years. Rising emphasis on optimizing design and manufacturing processes for delivering better products with improved efficiency is anticipated to bode well for the product demand. The market is witnessing tremendous growth ascribed to the increase in automobile production and the number of motors used in a particular vehicle.
The recent advancements in designing high-efficiency and compact motors have created opportunities in the automobile industry. The motors also find application in seat cooling fan, engine cooling fan, power window, power steering, and safety fittings among others. Increasing popularity of features, such as motorized seats, wipers, doors, adjustable mirrors, and massage seats, is further drive the demand.

Development in the electric vehicle production technology and growing emphasis on renewable energy have proved to be the major factors driving the demand for electric vehicles. Adoption of electric vehicles can help alleviate the problems, such as oil dependency, global warming, and environmental pollution. Hence, various governments have initiated and implemented different policies to encourage the adoption and production of electric vehicles. This factor is anticipated to drive the demand for automotive motors in near future.Rising demand for electric vehicles is also anticipated to drive the automotive motor market over the forecast period. Electric vehicles are expected to witness robust demand mainly due to their ability to reduce emissions or pollutants. Rising awareness about environmental protection across the world is projected to propel the use of electric vehicles, which in turn is expected to drive the demand.
Automotive motors needs to be replaced after certain interval of time, which is expected to affect the market growth. However, efforts from the OEMs to introduce motors with minimum wear and tear, and longer life and efficiency is expected to create growth opportunities. Governments are undertaking several initiatives to encourage such projects. The government bodies are also investing significantly in the production of energy efficient motors.
Motor
Type Insights of Automotive Motor Market

Brushed DC motor held the largest market share in 2018, ascribed to low cost and simple drive control model. They are easy to install and are used to provide high speed and power to the vehicle making them ideal for various automotive applications. Systems including power windows, cooling fan, windshield wipers and so on make use of brushed DC motor.
Brushless DC held the second largest market share in 2018. The brushless DC motor is not much susceptible to damage or breakage and undergoes minimal wear and tear ascribed to the absence of a physical commutator and brushes. Brushless DC motors have a longer life, reliability, and efficiency. In several applications, BLDC motor provides significant benefits in terms of power density, thereby providing better fuel economy, reduced weight, and lower emissions. They are used in cabin HVAC blowers and pumps and windshield wipers among others.
Traction motor is anticipated to witness the fastest growth over the forecast period. They are mainly used in Battery Electric Vehicles (BEV) and Hybrid Electric Vehicles (HEV) owing to high efficiency and low power consumption. The rising adoption in electric vehicles expected to spur the demand by 2025.
Sales Channel Insights
Based on sales channel, the market has been categorized into OEMs and aftermarket. The OEM segment is accounted for a substantial market share in 2018. However, aftermarket emerged as a dominant segment in 2018 and is estimated to witness the fastest growth over the forecast years. The motors need to be replaced after certain period of time due to their prolonged usage and for better vehicular performance which is driving the segment.
Rapid technological advancements are anticipated to fuel the aftermarket segment toward digitization. The marketplace is changing and the aftermarket is going online for the sale of auto parts and services. Usage of advanced technology in auto parts fabrication, surge in the production of consumer and passenger automobile, and digitalization of automotive repair and maintenance services are some of the factors expected to benefit propel expansion of the aftermarket segment over the forecast period.

Application Insights of Automotive Motor Market

Automotive motors serve wide range of applications including safety, performance and comfort. The comfort application segment accounted for the majority of market share in 2018. Automotive motors are used in electric vehicles, hybrid vehicles, and cars among other types of vehicles. With the rising demand for passenger vehicles for transportation, the demand for the comfort of passengers and drivers has also increased. Advanced automotive equipment, such as electronically adjustable seats use these motors. The motor is integrated with a microcontroller platform that uses an advanced algorithm to decrease the impact to the driver as well as the passenger. Similarly, in electric power steering systems, the motor is integrated with microcontroller platform to adjust the steering wheel position.
Furthermore, sophisticated safety mechanisms, such as the anti-lock braking system employ automotive motors to provide an estimation of the wheel speed and road identification using wavelet signal processing methods. Manufacturers of automobile parts strive to improve the comfort and safety offered by vehicles while focusing on maintaining the production costs. Automotive motors offer numerous advantages, such as compact size, low price, and the ability to integrate with microcontrollers to execute complex algorithms, widening the scope of application.
Vehicle
Type Insights of Automotive Motor Market

Electric vehicle segment is expected to witness the fastest growth over the forecast period. Electric vehicles hold significant potential to improve local air quality, reduce carbon emissions, and increase energy security. The industry has shifted its focus toward hybrid and electric vehicles due to the rising concerns of carbon emissions from conventional fuel-driven automobiles and other transportation forms. This is in turn anticipated to drive the segment growth in the forthcoming years.

The electric vehicle segment is further bifurcated into BEVs and PHEVs. BEVs is anticipated to register the highest demand for automotive motor in 2018. However, PHEV is expected to account for the fastest growth by 2025. Fast charging infrastructure and better batteries are improving the BEVs. Furthermore, large scale production is pushing down the battery costs thus increasing the BEV competitiveness. Such improvements are anticipated to bode well for the demand for BEVs.

Regional Insights of Automotive Motor Market

There are various government regulations, which have mandated safety features in vehicles including anti-lock braking system, airbags, and start-stop systems among others. These safety feature components require motor installation, which is anticipated to increase the market demand in near future. Asia Pacific accounted for the largest market share in terms of revenue in 2018 and is estimated to exhibit the fastest growth over the forecast period. This is ascribed to the growing vehicle production in emerging economies, such as China, India, and Japan.
North America is expected to emerge as the second largest region by 2025. The strong presence of manufacturers in Canada and U.S. is one of the key factors driving the regional market. Europe is also likely to be one of the key regional markets due to growing presence of automotive industry. Growing demand for more capable infotainment units in vehicles is expected to be a key regional growth driver.

Market Share Insights of Automotive Motor Market

The key market players include Nidec Corporation, Johnson Electric Holdings Ltd., Robert Bosch GmbH, Denso Corporation, Continental AG, and Mitsubishi Electric Corporation among others. The companies are increasingly focusing on research and development projects toincrease the efficiency of their offerings as well as to expand and diversify their product offerings. Intense competition has led manufacturers to invest in product developments to better serve customers’ requirements.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Automotive Motor Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends from 2015 to 2025 in each of the sub-segments. For the purpose of this study, this market research report has segmented the global automotive motor market report based on motor type, sales channel, vehicle type, application, and region:

Motor Type Outlook (Revenue, USD Million, 2019 – 2030)

Brushed DC Motor

Brushless DC Motor

Stepper Motor

Traction Motor

Sales Channel Outlook (Revenue, USD Billion, 2019 – 2030)

OEM

Aftermarket

Application Outlook (Revenue, USD Billion, 2019 – 2030)

Safety

Comfort

Performance

Vehicle Type Outlook (Revenue, USD Billion, 2019 – 2030)

Electric Vehicle

BEV

PHEV

Non-Electric Vehicle

Passenger

LCV

HCV

 

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Automotive Motor Market to Grow with CAGR |Top Key Players – Bright, Inteva Products, Wuxi Minxian, Prestolite Electric, Zhejiang Dehong


Summary
The latest report titled global Automotive Motor Market 2019 includes the comprehensive study of the present market scope and based on the research that is being carried out the analysts at Garner Insights state that the newest developments that are presently affecting the changing scenario products and services that have high rankings and great feedback are described wisely.

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Some of key competitors or manufacturers included in the study are: , Bosch, Asmo, Mitsuba, Brose, Johnson Electric, Nidec, Mabuchi, Valeo Group, Mahle, S&T Motiv, Remy International, BüHLER Motor, Shihlin Electric, Jheeco, Bright, Inteva Products, Wuxi Minxian, Prestolite Electric, Zhejiang Dehong

If you are involved in the Global Automotive Motor industry or intend to be, then this study will provide you comprehensive outlook. It’s vital you keep your market knowledge up to date segmented by major players. If you have a different set of players/manufacturers according to geography or needs regional or country segmented reports, we can provide customization according to your requirement.

The Important Type Coverage in the Market are
Motor
Starter & Alternator

Market Segment by Applications, covers
Body
Powerstrain
Chassis

Market segment by Regions/Countries, this report covers
North America
Europe
China
Rest of Asia Pacific
Central & South America
Middle East & Africa

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Some of the Points cover in Global Automotive Motor Market Research Report is:

Chapter 1: Overview of Global Automotive Motor Market (2019-2024)
• Definition
• Specifications
• Classification
• Applications
• Regions

Chapter 2: Market Competition by Players/Suppliers 2019 and 2024
• Manufacturing Cost Structure
• Raw Material and Suppliers
• Manufacturing Process
• Industry Chain Structure. Continued…

Global Automotive Motor Market Report gives answers to following Vital Questions:
1. What are the risks associated with the sourcing of raw material, or holding the line on costs of services?
2. Who are the emerging competitors in the Global Automotive Motor industry?
3. Expected percentage of the Global Automotive Motor Market Growth over upcoming period?
4. Why does Global Automotive Motor Market have high growth potential?
5. How does this Report match with Investment Policy Statement?

Study Objective of The Report:
• To study and estimate the market size of Automotive Motor, in terms of value.
• To find growth and challenges for global market.
• To study worthwhile expansions such as expansions, new services launches in Global Automotive Motor.
• To conduct the pricing analysis for global market.
• To classify and assess the side view of important companies of Global Automotive Motor.
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