Transparency Market Research has announced the addition of the “Automotive Motors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025" report to their offering.
Albany, NY -- (SBWIRE) -- 11/16/2017 -- The automotive industry is currently under immense pressure to adapt to technological advances and changing customers preferences. The continuous developments in technology, automobile manufacturers are focusing on manufacturing efficient automotive motors for various systems. The rising demand for safety features and convenience, along with the growing production volume of vehicles are the key factors that will drive the automotive motors market. The major factors responsible for the growth of the market include rise in electrification of vehicles and the mandatory usage of safety technologies such as electronic stability control and antilock braking systems (ABS) in passenger cars in developed regions such as Europe and North America. However, electric vehicles require less number of motors, which may pose a challenge to the growth of the automotive motors market.
The global automotive motors market can be segmented based on type, application, vehicle, electrical vehicle, and region. In terms of type, the automotive motors market can be divided into DC brushed motor, DC brushless motor, and stepper motor. The DC brushless motor segment is estimated to expand significantly during the forecast period due to the high output power, small size, better heat dissipation, higher speed ranges, and low-noise operation than DC brushed motors. However, DC brushed motors are estimated to have the largest share of the Automotive Motors Market during the forecast period. Simple usage and low cost are the key factors driving the demand for DC brushed motors. Based on application, the automotive motors market can be classified into performance motor, comfort motor, and safety motor.
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In terms of value, the comfort motor segment is projected to account for major share of the automotive motor market in the near future. The market growth of comfort motor can be attributed to the increasing demand for comfort applications such as HVAC systems, power windows, and electric power steering in vehicles. Performance motor are estimated to have the largest share of the automotive motors market in the next five years. This can be attributed to the increasing vehicle production across the globe. Based on vehicle, the automotive motors market can be segregated into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. The passenger vehicle segment is estimated to account for the largest share of the automotive motors market, followed by light commercial vehicle and heavy commercial vehicles. By electrical vehicle, the automotive motors market can be divided into hybrid electric vehicle, plug-in hybrid electrical vehicle, battery electrical vehicle. Increasing government support for green vehicles is propelling the demand for electric vehicles, which, in turn, is rise in demand for automotive motors. Hybrid electric vehicle is estimated to account for the largest share of the automotive motors market among the electric vehicle types and is expected to remain predominant during the forecast period.
By geography, the global automotive motors market can be classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is the dominant market for the automotive sector, wherein India, China, and Japan are the leading contributors, due to the increase in production of vehicles in these countries. Furthermore, rise in demand for advanced technology features such as anti-lock braking system, start-stop system, and automatic transmission are expected to boost the automotive motors market during the forecast period.
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Key players operating in the global automotive motors market are Mabuchi Motors Co. Ltd, Mitsubishi Electric Corporation, Siemens Ag, BorgWarner Inc., Brose Fahrzeugteile GmbH & Co. KG, Buhler Motor GmbH, Calsonic Kansei Corporation, Continental AG, DENSO CORPORATION, Johnson Electric, IFB Automotive Private Limited, and Robert Bosch GmbH.