Automotive Motors Market

Market Leaders - Automotive Motors Market

The global automotive motors market size is projected to grow from USD  20.3 billion in 2020 to USD  25.7 billion by 2025, at a CAGR of 4.8%. The base year for the report is 2019, and the forecast period is from 2020 to 2025. Today basic comfort functions of vehicles are no longer a discriminator between the brands and hence these functions, carried with the internal processing of different motors Impact  impact demand for automotive motors.

Rising automation and digitization have revolutionized the automotive industry. The semi-autonomous system is experiencing significant developments, and there are many more technologies planned in the near future. The application of these technologies is a stepping stone toward fully automated driving. Automated controls are installed to operate electric motors, providing the versatility of automatic and remote start/stop functions. Increasing demand for high power efficiency and advanced automated applications worldwide will boost the electric motors market globally. Electric motors are highly efficient with ratings ranging from 50% to 95%, depending on the motors size and operating conditions.

The global automotive motors market is dominated by major players such as Robert Bosch (Germany), Nidec Corporation (Japan), Continental (Germany), Johnson Electric (Hong Kong), and Denso Corporation (Japan). These companies offer a wide variety of automotive motors fulfilling all major functions in a vehicle. The key strategies adopted by these companies to sustain their market position are new product developments, acquisitions, and partnerships & expansions. Although, the COVID-19 pandemic has halted production and plunged sales and forced key players in the global automotive field to rethink their strategies. Rescheduling the launch of models and projects, stabilizing dealer networks, managing cash conservatively, and reviewing investment portfolios have affected the production and sales of passenger and commercial vehicles across the globe, which has resulted in a dip in the automotive market in 2020 as compared to 2019. Gradually, the resumption of manufacturing plants is expected to balance the growth in the coming years.

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Asia Pacific is projected to lead the global automotive motors market which is due to implemention of new technologies, setting up of more manufacturing plants, and creation of a value-added supply chain between the manufacturers and material providers that has provided a vast opportunity for growth of the automotive motors in the region. Companies such as Aisin Seiki, Denso, Johnson Electric, Mitsubishi, Hitachi, and Mikuni have a dominant presence in the region. The automotive industry in Asia Pacific is expected to see significant growth in the next few years. The automotive motors market is expected to grow proportionally to the regional automotive market.

Robert Bosch is a key player in the automotive motors market. The company’s strategy to focus on R&D has helped it maintain a well-diversified automotive motors product portfolio. Bosch’s wide global presence is an added advantage to its competitiveness. Given the stringency in emission norms across the world, particularly in Europe, the company’s strong foothold there is expected to help it generate revenue from the automotive motors market. In February 2019, Bosch announced a complete takeover of electric motor specialist EM-motive. The acquistion will benefit company with strobger portfolio for motors worldwide.

Continental, Denso, Johnson Electric, BorWarner Inc. and Nidec Corporation are some of the other players in this market. In December 2019, BorgWarner expanded its electric motor offerings with the introduction of its new High Voltage Hairpin (HVH) 146 motor. In July 2019, Denso established Denso Sales South Africa (Pty) Limited, a joint venture dedicated to selling aftermarket products and services in Southern Africa. In Ma9 2018, Nidec revealed its fully integrated traction motor system E-Axle and announced that the product would be adopted by the Aion S super e-car that appeared on the Chinese market in May 2019.

Related Reports:

Automotive Motors Market by Motor Type (Brushed, BLDC, Stepper), Vehicle (PC,LCV,HCV), Function (Performance, Comfort, Safety), EV (BEV,PHEV,HEV), EV Motor (DC Brushed, BLDC, Stepper, Induction, Traction, & Others), and Region - Global Forecast to 2025

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Report Code
AT 5448
RI Published ON
7/27/2020
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