According to the report published by Grand View Research, Inc., rising demand for optimization of manufacturing processes and product design to increase the product efficiency and growing number of applications in industry verticals along with rising adoption of electric vehicles are some of the factors which are expected to drive the demand in automotive motor market for the forecast period.
According
to a report, “Automotive
Motor Market Size, Share & Trends Analysis Report By Motor Type
(Brushed DC, Traction), By Application, By Sales Channel (OEM, Aftermarket), By
Vehicle Type, By Region, And Segment Forecasts, 2019 - 2025”, published by
Grand View Research, Inc. The global automotive motor market size is
expected to reach USD 49.07 billion by 2025, registering a CAGR of 6.7% over
the forecast period, according to a new report published by Grand View
Research, Inc. Automotive industry is currently going through technological
advancements to cater to the changing consumer preferences. Automotive
manufacturers emphasize on producing efficient motors. Furthermore, rising need
for fuel-efficient vehicles is fueling the need for automotive motors with
better performance and higher efficiency. Rising demand for fuel efficient
vehicles along with stringent environmental norms is also resulting in
development of lightweight raw materials without having to compromise the
structural strength of the components.
Electric
vehicles have taken the market by storm and demands for these vehicles are
observed to rise with every passing year. Growing adoption of electric vehicles
coupled with the increasing automobile production is anticipated to drive the
automotive motors market in the forthcoming years. Automotive motors are widely
used in car chassis, powertrain systems, internal/external comfort control
systems, and safety systems. Currently, these motors are also being implemented
in automated doors, wipers, sunroof systems, massage seats, and adjustable
mirrors of vehicles. Also, multiple problems associated with the automotive
industry such as oil dependency, global warming, and environmental pollution are
going to be solved with e-vehicles and this will significantly boost the demand
for automotive motors.
Multiple
advancements in products to facilitate usage in e-vehicles and ICE vehicles
under the scope of regulations by major key players are set to fuel the market
growth rate for the coming years. Some of the key players include Mitsubishi
Electric Corporation, Nidec Corporation, Johnson Electric Holdings Ltd., Robert
Bosch GmbH, and Denso Corporation.
Full Research Report On Automotive Motor Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/automotive-motor-market
Automotive Motor
Market Report Highlights
- Regional expansion
is one of the best strategies adopted by market players to maintain their
stronghold on the market. For instance, in November 2020, Nidec Corp announced that it will
spend 200 billion yen ($1.9 billion) on a new plant in Serbia to build
motors for electric vehicles as it seeks to win more business from
automakers turning away from internal combustion engines
- Mergers &
acquisitions form a major part of expansion strategies of key players. For example, in January 2019, Robert Bosch
announced that it bought out partner Daimler's stake in EM-Motive, a joint
venture set up to make motors for electric and hybrid cars.
- On the basis
of motor type, brushed DC
motor segment is expected to account for the highest automotive motor
market share in terms of revenue over the forecast period ascribed to the
factors, such as simple usage and low cost
- Increasing
demand for electrification of vehicles over the last few years is
estimated to catapult the traction motors segment during the forecast
period
- On the basis
of application type, safety
motors segment is anticipated to witness significant growth by 2025 owing
to the increasing stringency of government rules and regulations regarding
incorporation of safety systems in vehicles
- Comfort
application segment is expected to witness the fastest growth over the
next six years as comfort motor increased riding capability
- On the basis
of vehicle type, passenger
vehicles segment is likely to emerge as a dominant segment over the
forecast period owing to the rising production volumes of passenger
vehicles across the globe
- On the basis
of region, Asia Pacific
dominated the market with more than 35% revenue share in 2018, owing to
increasing vehicle production in developing countries of China, India, and
Japan along with the rising demand for advanced safety features such as
seat belt reminders, anti-lock braking systems and so on
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/automotive-motor-market/request/rs1
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
No comments:
Post a Comment