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The automotive motor market is following dynamic trends which reformed the look of the beelining sphere. One notable development includes the use of electric vehicles (EVs) that has been happening at very a high rate; hence leading to demand in electric motors. As the mankind is moving into a greener and cleaner mode, all automakers are investing stupendously in electric powertrains. This change is driven not only by the fact that the world has shifted in its focus on issues related to environmental preservation but also because of new developments in battery production that have made electric cars operate better and travel farther down the road.
The current demand for lightweight motors especially in the field of automobiles is yet another critical issue concerning the design and manufacture of these components. Automobile manufacturers always look for methods to minimize the overall weight of vehicles; it includes improving fuel efficiency along with better performance. This has resulted to the design and pressing in of lightweight materials which also adopts new motors that maintain performance while moving through at least one year. Lighter motors help in the reduction of vehicle weight at an overall level within the industry supportive to achieve stringent requirements for maintaining fuel efficiency and degradation.
All these contribute to the global automotive motor industry or, even more specifically, to the challenges of global supply chain and semiconductor shortages. The industry also has a huge dependence on electronic components such as the motors wherein production problems have caused delays in lead times. These obstacles are fairly steadily mitigated by automakers and suppliers via the efforts aimed at diversifying their supply chains, investigating other sourcing strategies that could be used as alternatives, and investing in domestic production capacities.
In terms of market dynamics, Asia-Pacific has emerged as a key player in the automotive motor market. The region is not only a significant consumer of automobiles but also a major hub for motor manufacturing. Countries like China, Japan, and South Korea have become key contributors to the market, driven by both domestic demand and global exports. The automotive motor market is witnessing robust growth in these regions, supported by a strong focus on electric and hybrid vehicles.
Automotive Motor Market Highlights:
Automotive Motor Market Overview:
Automotive Motor Market Size was valued at USD 38.5 billion in 2022. The Automotive Motor market industry is projected to grow from USD 40.39 Billion in 2023 to USD 59.31 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.4% during the forecast period (2023 - 2032).Increased demand for luxury vehicles presents growth opportunities. The growth of the worldwide automotive industry, the introduction of electric vehicles (EVs), and the High demand for safety and convenience featuresare the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Automotive Motor Market Trends
High demand for safety and convenience is driving the market growth
The automotive industry has been witnessing increased demand for advanced vehicle features, such as power steering systems, climate control systems, and anti-lock braking systems. The automotive industry has witnessed an increase in the use of motors due to their various applications, contributing to the growth of the automotive motor market. Additionally, developed countries like the US are witnessing a surge in demand for improved vehicle comfort, safety, and convenience features. Such features, including steering-mounted controls, heads-up displays, advanced infotainment systems, gesture control systems, telematics, and central controllers, have become increasingly popular due to their luxury, safety, and security benefits. This factor drives the market CAGR
Additionally, the growing demand for luxury vehicles to present growth and the advancement in technology, particularly in artificial intelligence and machine learning, has led to the development of autonomous vehicles, contributing to the growth of the automotive motor market. Luxury vehicle manufacturers are focusing on the research and development of electric vehicles to meet the growing demand for sustainable and eco-friendly transportation due to environmental concerns. Luxury vehicle sales are expected to be boosted by incorporating advanced features such as autonomous driving, retina recognition, and personal voice assistance. Governments and environmental organizations worldwide are enforcing stricter emission norms due to rising exhaust emissions and increasing demand for EVs. Governments are also providing higher incentives and subsidies to encourage the adoption of sustainable transportation. These factors drive the Automotive Motor market revenue.
Automotive Motor Market Segment Insights:
Automotive Motor Type Insights
The Automotive Motor market segmentation, based on type, includes DC brushed Motors, BLDC motors, and stepper motorproducts. The DC brushed Motor segment dominated the market; Brushed DC motors are popular in the automotive industry due to their ease of installation and ability to provide high speed and power to vehicles. These motors are widely used in various automotive applications, such as power windows, cooling fans, windshield wipers, and other systems. The Brush DC motor comprises six parts, including the armature, commutator, axle, magnets, stator, and brushes. This type of motor generates a consistent and uninterrupted current through rings that control a magnetic force that drives the motor's armature.
Automotive Motor Vehicle Type Insights
Based on vehicle type, the Automotive Motor market segmentation includes passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger car segment dominates the market. Single-phase heat exchangers are frequently used in various heating and cooling applications, such as free cooling systems, dry coolers, and air conditioners. Water or glycol mixes are usually used as the primary media. In microchannel heat exchangers, single-phase heat transfer occurs when the liquid flows through the microtubes in a single phase.
Automotive Motor Sales Channel Insights
Based on sales channels, the Automotive Motor segment includes OEM and Aftermarket. The OEM segment dominated the market, which refers to manufacturers, organizations, and developers focused on producing components or devices specifically designed for use in vehicles. Manufacturers in the automotive OEM segment produce high-quality components and devices that use premium raw materials. These parts are utilized during the manufacturing and assembly of vehicles.
Figure1: Automotive Motor Market, by Sales Channel, 2023 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Automotive Motor Application Insights
Based on application, the Automotive Motor market segmentation includes performance, comfort, and safety motors. The performance motors segment dominated the market; the performance motor improves the vehicle's overall efficiency, and the comfort motor provides increased riding capability, increasing the demand for the vehicles in the future. The global market for performance motors is expected to maintain a healthy demand as it is directly linked to the worldwide production of vehicles. The growth in the market is supported by the increasing demand for high-performance luxury cars, which is a major driving factor.
Automotive Motor Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American automotive motor market will dominate, with increased demand for luxury vehicles to present growth opportunities and the growth of the worldwide automotive industry.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: Global Automotive Motor Market Share By Region 2023 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Automotive Motor market accounts for the second-largest market share due to the high focus on emission norms, rising demand for electric and luxury vehicles, decreasing display prices, high production volume, and integration with software technologies. Further, the German Automotive Motor market held the largest market share, and the UK Automotive Motor market was the fastest-growing market in the European Region.
The Asia-Pacific Automotive Motor Market is expected to grow at the fastest CAGR from 2023 to 2032. This is dueto the growing vehicle production in emerging economies and
The Region's automotive industry benefits from prominent automakers, including Suzuki, Toyota, Mitsubishi, Hyundai-Kia, Lexus, and Tata Motors Limited. Moreover, China’s Automotive Motor market held the largest market share, and the Indian Automotive Motor market was the fastest-growing market in the Asia-Pacific region.
Automotive Motor Key Market Players& Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the Automotive Motor market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The automotive motor industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Automotive Motor industry to benefit clients and increase the market sector. In recent years, the Automotive Motor industry has offered some of the most significant advantages to medicine. Major players in the Automotive Motor market, including Robert Bosch (Germany), Johnson Electric Holdings Limited (Hong Kong), Continental (Germany), Nidec (Japan), Denso (Japan), Mitsubishi (Japan), Siemens (Germany), Magna (Canada), Valeo (France), BorgWarner (US), and others, are attempting to increase market demand by investing in research and development operations.
Renault Group, founded in 1899, is a well-established multinational automobile manufacturer headquartered in France, specializing in producing a wide range of vehicles, including cars and vans. Over the years, the company has also ventured into manufacturing tanks, trucks, tractors, aircraft, and other types of vehicles.Recently, Renault Group and Valeo and Valeo Siemens e-Automotive partnered to develop and produce an advanced electric motor for automotive applications in France.
Continental AG, a leading German automotive parts manufacturer, specializes in producing tires, brake systems, and interior electronics. The company plans to launch the 800 V electric traction motor technology in China, which is designed to fit into the EMR4 platform. Both stator and rotor are parts of a powertrain platform for electric vehicles developed by a Chinese OEM. Continental AG has established a new production line for manufacturing this technology at its Tianjin facility. The development of the 8-layer hairpin stator was a global effort, and production is expected to begin in 2023.
Key Companies in the automotive motor market include
- Robert Bosch (Germany)
- Johnson Electric Holdings Limited (Hong Kong)
- Continental (Germany)
- Nidec (Japan)
- Denso (Japan)
- Mitsubishi (Japan)
- Siemens (Germany)
- Magna (Canada)
- Valeo (France)
- BorgWarner (US)
Automotive Motor Industry Developments
Feb 2022: In France, Renault Group, Valeo, and Valeo Siemens e-Automotive have come together to collaborate on the development and production of a next-generation electric motor for automobiles.
September 2021: Continental AG, a German multinational automotive parts manufacturer, has announced that it is preparing to start production for an 800 V electric traction motor technology in China. This motor is designed to fit the EMR4 platform, introduced at the 13th Transmission Symposium in China. The stator and rotor components are part of the Chinese OEM's electric vehicle powertrain platform, and this technology will be produced on a new line at Continental AG's Tianjin site. The development of the 8-layer hairpin stator was a global project, and the SOP for the 800 V motor technology is planned for 2023.
Automotive Motor Market Segmentation:
Automotive Motor Product Type Outlook
- DC Brushed Motor
- BLDC Motor
- Stepper Motor
Automotive MotorVehicle Type Outlook
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Automotive Motor Sales Channel Outlook
- OEM
- Aftermarket
Automotive Motor Application Outlook
- Performance Motors
- Comfort Motors
- Safety Motors
Automotive Motor Regional Outlook
North America
- US
- Canada
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
Rest of the World
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Middle East
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Africa
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Latin America
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