Automotive Motors Market

The automotive motors market, by value, is projected to grow at a CAGR of 6.02% during the forecast period, to reach USD 34.48 Billion by 2022.

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 market. The bottom-up and top-down approaches have been used to estimate and validate the size of the global market. The market size, by volume, is derived by identifying the region-wise production volumes and analyzing the demand trends.

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The ecosystem of the automotive motors market consists of manufacturers such as Robert Bosch GmbH (Germany), Continental AG (Germany), Nidec Corporation (Japan), Johnson Electric Holdings Ltd. (Hong Kong), and Denso Corporation (Japan), and research institutes such as Japan Automobile Manufacturers Association (JAMA), European Automobile Manufacturers Association (EAMA), Canadian Automobile Association (CAA), and Korea Automobile Manufacturers Association (KAMA).

Target Audience

Automobile manufacturers
Automotive motor manufacturers
Automotive component manufacturers
Automobile organizations and associations
Automotive motor component suppliers
Raw material suppliers for automotive motors
Traders and distributors of automotive motors
Tier 1, Tier 2, and Tier 3 suppliers of automotive motors
Distributors and suppliers of automotive components and parts

The global market, by vehicle type, is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger car segment is estimated to account for the largest share of the market in 2017, followed by light commercial vehicles (LCV) and heavy commercial vehicles (HCV).

On the basis of electric vehicle type, the market is segmented into Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), and Battery Electric Vehicle (BEV). HEV is estimated to account for the largest share of the market among the electric vehicle types and is expected to remain predominant during the forecast period. Also, in terms of growth, PHEV is projected to grow at the highest CAGR, followed by BEV and HEV, respectively. Increasing government support for green vehicles is propelling the demand for electric vehicles, which, in turn, is increasing the demand for automotive motors.

Restraints of the Market:

Due to stringent environmental norms and rising demand for vehicles with better fuel efficiency, automotive suppliers are looking at lighter components for weight reduction, which would help to meet the demand for lower emissions and better mileage. Tier II suppliers are developing light weight raw materials through technological advancements without compromising on the structural strength of the components. However, due to stiff competition in pricing, motor manufacturers are not able to pass on the benefit to their customers. Thus, weight and cost reduction can prove to be restraints for the growth of the market.