Automotive Motors Market

Market Leader - Automotive Motors Market

The global automotive motors market for ICE vehicles is projected to grow from USD 23.0 billion in 2022 to USD 28.7 billion by 2027, at a CAGR of 4.5%. Government regulations for automobile safety and rising disposable income levels of people around the world has been a major factor for the growth of this market.

The growth of the market is influenced by the recovering ICE vehicle market as well as the fast growing demand for EVs. The automotive motors market is dominated by established players such as Bosch (Germany), Denso (Japan), BorgWarner (US), ZF Group (Germany), and Continental AG (Germany). They develop motors for the automotive ecosystem. They have initiated partnerships to develop their automotive motor technology and work using supply contracts with major OEMs. 

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Bosch is a manufacturer of electronics, automobile components, household equipment, and other products. Its business is spread across 4 sectors, mobility (hardware and software), consumer goods (household appliances and power tools), industrial technology (drive and control), and energy building technology. The company has its presence worldwide and is known as one of the largest suppliers of automotive components worldwide. As part of its mobility solutions, it is involved in diverse fields, including powertrain solutions, chassis systems control, electric drives, automotive electronics, and automotive steering divisions. Beyond the OE market, it operates in the aftermarket and provides software solutions and services for mobility solutions. It has joint ventures with Daimler (Germany), Samsung SDI (South Korea), Mitchell International (US), etc., as part of its automotive division. Its automotive powertrain and related brands include AutoCrew, Bosch car service, ITK Engineering, Robinar, HC Cargo, Zexel, and ETAS. In January 2022, Bosch (China division) announced its products at the 2022 Haikou International New Energy Vehicle & Connected Mobility Show (2022 Haikou NEV Show). These products include a dedicated battery system solution for medium and heavy-duty commercial vehicles, a compact e-axle that combines the motor, power electronics, and transmission in one system, and the power electronic controller INVCON3U. It also includes an onboard charging and distribution unit, a thermal management system for electric vehicles, a steel pushbelt used in CVT4EV (pushbelt CVT for electric vehicles), an intelligent cockpit domain controller, an occupant monitoring system, a steering-by-wire system, a column electrical power steering system (EPSc), and an innovative braking system.

Denso develops and markets advanced automotive technologies, systems, and components. It is the leading producer of automobile components in Japan. As the second most prominent member of the Toyota Group, more than half of its products are made for the Toyota Motor Corporation (TMC), which owns a maximum share of its stock. Denso also supplies to nearly all other major Japanese automakers as well as numerous US manufacturers, including Ford, General Motors, and Chrysler, and major European manufacturers such as Volvo (Sweden), BMW (Germany), and Fiat (Currently part of Stellantis, Netherlands). The main categories of operation include powertrain, climate control, body electronics, driving control & safety, and information & communication. Small motors for automotive are manufactured under the OEM automotive systems and components category. These small motors are used for automotive components such as wiper systems, power window motors, washer systems, and blower motors. The company has about 220 subsidiaries and affiliates in 35 countries, including the US, Mexico, Brazil, the Netherlands, the Czech Republic, the UK, Italy, Thailand, Indonesia, South Korea, India, and China. In April 2022, BluE Nexus, Aisin and Denso announced that they have jointly developed e-axles that will be adopted for the all-new Toyota mid-size electric SUV, bZ4X. The co-developed e-axles include 3 types: a 150kW specification for FWD (installed at the front of the vehicle) and two 80kW specifications for (front and rear) for 4WD vehicles.

BorgWarner is a leading company in the field of powertrain systems. It operates in the automotive industry through clean propulsion and efficient technology solutions for light-, medium- and heavy-duty vehicles as well as off-highway applications. It operates through different divisions such as air- management, propulsion and drivetrain, aftermarket, and fuel injection. It is a top tier-1 supplier of electric and ICE motors for automobiles. Since 2021, it has partnered with top EV manufacturers to provide electric motors for commercial vehicles. It reorganized its structure after acquiring Delphi Technologies in October 2020. Previously, the company reported its results under 2 reporting segments, engine and drivetrain, which are now combined for reporting purposes with portions of Delphi Technologies and referred to as air management and e-propulsion & drivetrain, respectively. On February 10, 2022, the company completed the registration of a merger squeeze initiated on August 2, 2021, resulting in 100% ownership of AKASOL, whose operations have been integrated into the air management segment. In February 2022, BorgWarner launched the High Voltage Hairpin (HVH) electric motor, the HVH 320. Production of the HVH 320, which is equipped with 800-volt capabilities and available in 4 variants, is expected to launch in 2024. Its multi-faceted platform supports the goal of a common electric drivetrain and delivers approximately 97% peak efficiency and over 400 kW of power with 1,270 Nm of torque. The technology supports the vehicle’s shifting sequence and charges the battery by generating power while braking or driving downhill.

ZF Group (Germany), Continental AG (Germany), Nidec Corporation (Japan), Aisin Corporation (Japan), Magna International (Canada), Meritor (US), Johnson Electric (China), Mitsubishi Electric (Japan) and MAHLE GmbH. are some of the other top companies in this market. For instance, in May 2022, ZF Group announced its innovations such as modular and scalable silicon carbide (SiC) inverter architecture, hairpin electric motor, electric powertrain, and accessories (eWorX). Similarly, In April 2022, Nidec announced plans to release the 2nd generation of its e-axle system that combines drive motors, inverters, and speed reducers for electric vehicles (EVs) in the 2nd half of March 2023 (FY 2022). In China and Europe, where the shift to EVs is accelerating, competition in the drive motor business is increasing. Nidec aims to develop competitive products, including costs, to expand its market share. Further, in September 2021, Continental AG announced that it is preparing the SOP for 800 V electric traction motor technology in China. The motor fits the overall EMR4 platform, which was introduced at the 13th Transmission Symposium in China.

Related Reports:

Automotive Motors Market by EV Motor Type (Brushless, Brushed, Traction, Induction, Stepper), ICE Motor Type, Vehicle Type (PC, LCV, HCV), Electric Vehicle Type, Application, Function (Performance, Safety, Comfort) and Region - Global Forecast to 2027

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Automotive Motors Market Size,  Share & Growth Report
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