The automotive motors market, by value, is projected to grow at a CAGR of 6.02% during the forecast period, to reach USD 34.48 Billion by 2022.
Seattle, WA -- (SBWIRE) -- 08/02/2017 -- The report "Automotive Motors Market by Product (DC Brushed, BLDC Motors, Stepper), Vehicle (PC,LCV,HCV), Application (Performance Motors, Comfort Motors, Safety Motors), EV (BEV,PHEV,HEV), Traction Motor by EV (BEV,PHEV,HEV) and Region - Global Forecast to 2022", The global automotive motors market is projected to grow at a CAGR of 6.02% from 2017 to 2022, to reach a market size of USD 34.48 Billion by 2022.
Browse 79 Market Data Tables and 49 Figures spread through 170 Pages and in-depth TOC on "Automotive Motors Market - Global Forecast to 2022"
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The major factors driving the growth of the automotive motors market are the increasing production level of vehicles, electrification of vehicles, and stringent safety norms introduced by the government to minimize road accidents.
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DC Brushless Motors A high growth potential market
The global automotive motors market, by product type, is estimated to be dominated by DC Brushed Motors, followed by DC Brushless Motors and Stepper Motors. In terms of growth, the market for DC brushless motors is estimated to grow at the highest CAGR during the forecast period. DC brushless motors provide 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.
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Hybrid Electric Vehicle A promising vehicle segment for motor manufacturers
Hybrid Electric Vehicle (HEV) is estimated to account for the largest share of the automotive motors market among the electric vehicle types (BEV, HEV, and PHEV). It is expected to continue its market dominance during the forecast period. Modern HEVs are enabled with efficiency-improved technology such as regenerative brakes, electric motor drive, and automatic start/shut-off. Electric motor drive and automatic start/shut-off help to improve the efficiency of the electric vehicle as they save energy by smart operations. These technological advantages have made HEVs successful in recent years.
Also, in terms of growth, the automotive motor market for Plug-in Hybrid Electric Vehicle (PHEV) is projected to grow at the highest CAGR, followed by BEV and PHEV, respectively. Increasing government support for green vehicles is propeling the demand for electric vehicles, which, in turn, is increasing the demand for automotive motors.
Asia-Pacific: Largest market for automotive motors
Asia-Pacific is estimated to account for the largest share, by value and volume, of the automotive motors market in 2017. Also, in terms of growth, the Asia-Pacific market is projected to grow at the highest CAGR during the forecast period. Developing economies such as China and India are expected to play a major role on the backdrop of increasing vehicle production. Also, increasing installation of upgraded technology features such as anti-lock braking system (ABS) and start-stop systems is likely to add to the demand for automotive motors.
The report profiles all major players in the automotive motors market, including Robert Bosch GmbH (Germany), Johnson Electric Holdings Ltd. (Hong Kong), Continental AG (Germany), Nidec Corporation (Japan), Denso Corporation (Japan), and Mitsubishi Electric Corporation (Japan) among others.
The report also covers a comprehensive study of the key vendors operating in the automotive motors market. The competitive landscape is divided into four distinct categories Dynamic Differentiators, Visionary Leaders, Emerging Companies, and Innovators. The evaluation of these vendors has been done by taking various factors into account such as product development, R&D expenditure, business strategies, product revenue, and organic and inorganic growth.
The report also explains the qualitative aspects of the automotive motors market with respect to advanced features and application over the course of time. This report covers Porter's five forces analysis, competitive landscape, and company profiles of major players in the automotive motors market.
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