Automotive Motors Market
The research methodology used in the report involves various secondary sources such as Japan Automobile Manufacturers Association (JAMA), European Automobile Manufacturers Association (ACEA), Canadian Automobile Association (CAA), and Korea Automobile Manufacturers Association (KAMA). Experts from related industries and suppliers have been interviewed to understand the future trends of the automotive motors market. The bottom-up and top-down approaches have been used to estimate and validate the size of the global automotive motors market. The market size, by volume, is derived by identifying the region-wise production volumes and analyzing the demand trends.
The figure given below illustrates the break-up of the profile of industry experts who participated in primary discussions.
Company Profiles:
- Siemens AG
- Robert Bosch GmbH
- Continental AG
- Denso Corporation
- Magna International
- Mitsubishi Electric Corporation
- Valeo S.A.
- Mahle Group
- Nidec Corporation
- Borgwarner Inc.
- Mitsuba Corporation
- Johnson Electric Holdings Limited
DC Brushless Motors A high growth potential market
The global automotive motors market, by product type, is estimated to be dominated by DC Brushed Motors, followed by DC Brushless Motors and Stepper Motors. In terms of growth, the market for DC brushless motors is estimated to grow at the highest CAGR during the forecast period. DC brushless motors provide high output power, small size, better heat dissipation, higher speed ranges, and low-noise operation than DC brushed motors. However, DC brushed motors are estimated to have the largest share of the automotive motors market during the forecast period. Simple usage and low cost are the key factors driving the demand for DC brushed motors.
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Hybrid Electric Vehicle A promising vehicle segment for motor manufacturers
Hybrid Electric Vehicle (HEV) is estimated to account for the largest share of the automotive motors market among the electric vehicle types (BEV, HEV, and PHEV). It is expected to continue its market dominance during the forecast period. Modern HEVs are enabled with efficiency-improved technology such as regenerative brakes, electric motor drive, and automatic start/shut-off. Electric motor drive and automatic start/shut-off help to improve the efficiency of the electric vehicle as they save energy by smart operations. These technological advantages have made HEVs successful in recent years.
Also, in terms of growth, the automotive motor market for Plug-in Hybrid Electric Vehicle (PHEV) is projected to grow at the highest CAGR, followed by BEV and PHEV, respectively. Increasing government support for green vehicles is propeling the demand for electric vehicles, which, in turn, is increasing the demand for automotive motors.
Asia-Pacific: Largest market for automotive motors
Asia-Pacific is estimated to account for the largest share, by value and volume, of the automotive motors market in 2017. Also, in terms of growth, the Asia-Pacific market is projected to grow at the highest CAGR during the forecast period. Developing economies such as China and India are expected to play a major role on the backdrop of increasing vehicle production. Also, increasing installation of upgraded technology features such as anti-lock braking system (ABS) and start-stop systems is likely to add to the demand for automotive motors.
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Source: https://www.marketsandmarkets.com/PressReleases/automotive-motor.asp