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(I-AutoNewsWire.com, July 11, 2019 ) Global Automotive Motors Market by Product (DC Brushed, BLDC Motors, Stepper), Vehicle (PC,LCV,HCV), Application (Performance Motors, Comfort Motors, Safety Motors), EV (BEV,PHEV,HEV), Traction Motor by EV (BEV,PHEV,HEV) and Region - Global Forecast to 2022. The global automotive motors market is projected to grow at a CAGR of 6.02% from 2017 to 2022, to reach a market size of USD 34.48 Billion by 2022.
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The global automotive motors market is dominated by key players such as Robert Bosch GmbH (Germany), Johnson Electric Holdings Ltd. (Hong Kong), Continental AG (Germany), Nidec Corporation (Japan), Denso Corporation (Japan), and Mitsubishi Electric Corporation (Japan) among others.
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.
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.
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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.
The report also covers a comprehensive study of the key vendors operating in the automotive motors market. The competitive landscape is divided into four distinct categories Dynamic Differentiators, Visionary Leaders, Emerging Companies, and Innovators. The evaluation of these vendors has been done by taking various factors into account such as product development, R&D expenditure, business strategies, product revenue, and organic and inorganic growth.
Mr. Shelly Singh