Automotive Motors Market Set To Surpass USD 19.94 Billion By 2030 Driven By Increasing Demand For Electric Vehicles

The latest report by SNS Insider indicates significant growth potential in the Automotive Motors Market, driven by technological advancements. As automotive safety requirements become more stringent, the need for electric motors rises, further boosting market expansion.

The SNS Insider report reveals that the Automotive Motors Market was valued at USD 13.16 Billion in 2022. It is projected to achieve a market size of USD 19.94 Billion by 2030, with a compound annual growth rate of 5.33% expected over the forecast period from 2023 to 2030.

Key Players in the Automotive Motors Market:

Brose, Siemens Ag, Buhler Motor, Calsonic Kansei Corporation, Valeo Sa, Magna International, Robert Bosch GmbH, Denso Corporation, Johnson Electric Holdings Limited, Nidec Corporation, Ricardo, Mahle GmbH, Borgwarner Inc., Continental AG, Mitsuba Corporation, IFB Automotive, Mabuchi Motors Co. Ltd, and Mitsubishi Electric Corporation are some of the prominent players in the automotive motors market.

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Market Report Scope:

Motors play a pivotal role in ensuring the smooth operation of various vehicle functions, ranging from critical safety features to enhancing driver comfort and convenience. In the automotive industry, these motors are indispensable components that power essential systems such as power steering, ensuring precise and effortless maneuvering of vehicles. Additionally, motors drive the cooling systems, regulating engine temperature to prevent overheating and optimize performance.

Moreover, motors are integral to window operations, facilitating the seamless movement of windows for ventilation and visibility control. Wiper systems, another crucial aspect of vehicle safety, rely on motors to efficiently clear windshields during adverse weather conditions, ensuring optimal visibility for the driver.

The scope of the market extends beyond a mere examination of these functions to provide a comprehensive analysis of automotive motors. It encompasses an in-depth exploration of the diverse applications and technologies associated with motors in the automotive sector. From traditional DC Brushed Motors to advanced Traction Motors utilized in electric and hybrid vehicles, the report meticulously examines the segmentation of motor types. Each motor type is evaluated for its specific contributions to the market, shedding light on its performance, efficiency, and applicability across different vehicle categories.

Market Analysis:

The Automotive Motors Market stands at the cusp of remarkable growth, propelled by a confluence of factors that underscore the dynamic evolution of the automotive industry. Primarily, stringent safety regulations imposed by governing bodies worldwide are reshaping the landscape of vehicle manufacturing. These regulations mandate the integration of advanced safety equipment, thereby driving the demand for automotive motors. Motors play a pivotal role in various safety features such as anti-lock braking systems (ABS), electronic stability control (ESC), and advanced driver-assistance systems (ADAS), ensuring enhanced vehicle safety and occupant protection.

Simultaneously, relentless advancements in technology are revolutionizing the automotive sector, catalyzing the adoption of innovative motor solutions. From the development of efficient electric motors to the implementation of sophisticated control systems, automotive manufacturers are continuously striving to enhance vehicle performance, efficiency, and sustainability. The proliferation of electric vehicles (EVs) and hybrid vehicles underscores this technological shift, with motors serving as the backbone of these eco-friendly alternatives to traditional combustion engines.

Furthermore, government regulations aimed at promoting environmental sustainability and fuel efficiency are driving the automotive industry towards the adoption of alternative fuel technologies. The demand for V8 engines, known for their robust performance and power, remains buoyant, particularly in segments where high-performance vehicles are favored. However, there is a growing emphasis on enhancing fuel efficiency and reducing emissions, leading to the exploration of flex fuel engines that can utilize a variety of renewable and conventional fuels. This presents lucrative opportunities for stakeholders in the Automotive Motors Market, as the integration of flex fuel engines necessitates the development of specialized motor solutions tailored to meet the unique demands of these engines.

Segment Analysis:

The dominance of certain segments within the Automotive Motors Market is evident. Brushless DC Motors lead the pack due to their efficiency and durability, particularly in electric vehicles where reliability is paramount. Passenger Cars command a significant share in vehicle type segments, reflecting the high demand for automotive motors in this category driven by consumer preferences and technological advancements.

By Type:

  • DC Brushed Motors
  • Brushless DC Motors
  • Stepper Motors
  • Traction Motors

By Vehicle type:

  • Two-wheelers
  • Electric Two-wheelers
  • Passenger Cars
  • Light Commercial Vehicles (LCVs)
  • Heavy Commercial Vehicles (HCVs)
  • Battery electric vehicle (BEV)
  • Plug-in hybrid electric vehicle (PHEV)
  • Hybrid electric vehicle (HEV)

By Function:

  • Performance
  • Safety & Security
  • Comfort & Convenience

By Technology:

  • Direct Torque Control (DTL)
  • Pulse-width Modulation (PWM)
  • Others

By Application:

  • Alternator
  • Sun Roof Motor
  • Wiper Motor
  • Heating, ventilation, and air conditioning (HVAC)
  • Variable valve timing (VVT)
  • Exhaust gas recirculation (EGR)
  • Starter Motor
  • Anti-lock Brake System
  • Electric power steering (EPS)
  • Power liftgate (PLG)
  • Others

Key Regional Development:

Asia-Pacific emerges as a dominant force in the Automotive Motors Market, fueled by the burgeoning automotive industry in countries like India and China. These nations’ rapid economic growth and infrastructural development contribute to increased automobile production, thereby driving demand for automotive motors. Additionally, regions like Europe and North America are witnessing substantial growth propelled by automation and technological advancements.

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Key Takeaways for Automotive Motors Market Study:

  • Technological advancements and stringent safety regulations are driving the growth of the Automotive Motors Market.
  • Asia-Pacific leads the market expansion, fueled by rapid infrastructural development and increasing automobile production.
  • Innovation in electric vehicle technology and the integration of powerful batteries are key factors propelling market growth.

Recent Developments:

  • In France, the Renault Group, Valeo, and Valeo Siemens eAutomotive have joined forces to develop and produce next generation electric motors for cars.
  • Continental AG, a German multinational automotive parts manufacturer, has announced that it is preparing to start production in China of an 800 V electric traction motor technology. This engine is designed for use with the EMR4 platform, which has been introduced at the 13th Transmission Symposium of China.

Table of Contents:

1. Introduction

1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Global Automotive Motors Market Segmentation, by Type

9. Global Automotive Motors Market Segmentation, by Vehicle type

10. Global Automotive Motors Market Segmentation, by function

11. Global Automotive Motors Market Segmentation, by Technology

12. Global Automotive Motors Market Segmentation, by Application

13. Regional Analysis

14. Company Profiles

15. Competitive Landscape

15.1 Competitive Benchmarking
15.2 Market Share analysis
15.3 Recent Developments

16. Conclusion

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