Automotive Motor Market Size Emerging Trends, New Growth Opportunities Status 2024-2032

Automotive Motor Market Valuation – 2024-2031

Increasing demand for electric vehicles, the rising popularity of safety and convenience features in cars, and the growing production of vehicles in general are the major factors for the growing use of automotive motors. According to the analyst from Market Research, the Automotive Motor Market is estimated to reach a valuation of USD 42.09 Billion over the forecast subjugating around USD 29.23 Billion valued in 2023.

In addition to this growing consumer inclination towards advanced features in vehicles is expected to increase the adoption of automotive motors. Moreover, increasing the sales volume of vehicles is expected to augment the market growth. It is expected that increased focus on streamlining design and production procedures to produce better items more efficiently will boost consumer demand for automotive motors. All these factors are enabling the market to grow at a CAGR of 5% from 2024 to 2031.

Automotive Motor Market: Definition/ Overview

An automotive motor is an electric or internal combustion engine that provides power to specific functions within a vehicle. It’s distinct from the main engine that propels the car. The fundamental device that transforms electric energy into mechanical energy is the motor. It does this by creating an electric field that is created by the current-carrying conductor and a magnetic field that is produced by the motor, which together produce force in the form of the shaft rotating.

Furthermore, compact motors were added to the vehicle system and efficiency was increased by the use of electric motors in cars. The engine cooling fan, power windows and steering, seat cooling fans, and several other applications are among the various uses for motors.

How will Technological Advancements Increase Adoption of Automotive Motors?

The innovation in electric motor technology is rising such as, maximizing the power output while minimizing energy consumption to increase efficiency. Developing motors with higher torque and horsepower for enhanced performance and creating lighter motors to improve overall vehicle efficiency by weight reduction. The Automotive Motor Market is expanding due to the increasing demand for improved convenience, safety, and comfort in vehicles. High-demand features include steering-mounted controls, advanced infotainment systems, and advanced telematics.

The global Automotive Motor Market is also incorporating advanced electronic components and software content, such as safety features like automatic high-beam headlights and automatic emergency braking systems. These factors are expected to fuel demand for automotive motors.

The market for automotive motors is driven by the increasing use of these motors in safety systems. The increasing use of active and passive safety devices in passenger automobiles in developing nations is causing a rise in the number of safety systems like ESC and ABS, increasing the need for electric motors. These motors improve safety features, driver control, and comfort, and are used by ABS, ESC, and AEB.

Manufacturers are increasingly catering to developing economies by offering cars with lower price points. These vehicles often utilize simpler and more affordable motor technologies, further expanding the market for various motor types.

Furthermore, the adoption of automotive motors is increasing due to surged demand for electric vehicles and has also increased because of climate change concerns and pollution in major cities. Increased gasoline and diesel prices have sparked a demand for fuel-efficient vehicles. The depletion of fossil fuel reserves and businesses’ profit motives have accelerated this demand, leading to a surge in demand for electric vehicles and automotive motors.

Will High Initial Investment Hinder the Growth of the Automotive Motor Market?

Developing new and advanced electric motor technologies, particularly for high-performance EVs, requires significant investment in research and development. This is a barrier for some manufacturers. Setting up production lines for electric motors, especially for high-volume production, necessitates substantial upfront costs for machinery and infrastructure.

Electric motors rely on specific rare earth metals and other materials that are susceptible to price fluctuations and supply chain disruptions. This impacts production costs and timelines of automotive motors.

After a certain amount of time, automotive motors must be replaced, which is anticipated to have an impact on market growth. In general, electric motors in plug-in hybrid cars (EVs) are made to last a long time—often longer than the vehicle itself, which is usually ten to fifteen years. These motors are designed to last and need to be replaced less frequently, even if some deterioration happens over time.

Furthermore, automotive suppliers are focusing on lighter components to meet environmental norms and fuel efficiency demands. Tier II suppliers are developing low-weight raw materials through technological advancements without compromising structural strength. However, stiff competition in pricing prevents motor manufacturers from passing on the benefits to customers. Tier suppliers and OEMs focus on improving efficiency and cost optimization of motors-related technologies, but commercializing them in the mass market remains a key restraint for the Automotive Motor Market.

Category-Wise Acumens

How Rise in the Use of Passenger Cars Drive the Demand for Automotive Motor Market?

The passenger cars segment is estimated to hold a major share of the Automotive Motor Market. Stringent emission regulations and consumer demand for more fuel-efficient vehicles are pushing the development of advanced motors with better efficiency. This translates to a higher demand for motors specifically designed for passenger cars.

Rapid globalization and economic growth in emerging countries like Brazil and India have improved consumer living standards, leading to increased disposable income and demand for passenger cars. This has fuelled the growth of the Automotive Motor Market, with fuel-efficient vehicles and advanced motor technologies driving demand.

Furthermore, the demand for safety systems in emerging markets is attributed to improved road safety standards, legislation, and consumer awareness. Regulations in Europe, North America, and Asia Pacific also contribute to the demand for safety motors in upcoming passenger cars.

Which Factors Enhance the Use of Brushed DC Motors in the Automotive Motor Market?

In the market for automotive motors, brushed DC motors is estimated to hold the largest market share during the forecast period attributed to a basic drive control model that is inexpensive. They are perfect for a variety of automotive applications since they are simple to install and give the car a lot of power and speed. Brushed DC motors are used in many systems, including air conditioning fans, power windows, wipers, and windshield washers.

Furthermore, brushless DC accounted for the second-largest market share in the Automotive Motor Market, due to physical commutator and brushes that are not present, the brushless DC motor experiences less wear and tear and is less prone to damage or failure. Brushless DC motors are more dependable, and efficient, and have a longer lifespan.

Gain Access to Automotive Motor Market Report Methodology

Country/Region-wise Acumens

Will Increase in the Growth of Vehicle Production in the Asia Pacific Mature Automotive Motor Market?

The Asia Pacific region is estimated to dominate the market during the forecast period owing to the high production growth in vehicles, adoption of EVs, and high demand for passenger cars & fuel-efficient vehicles. The APAC region, particularly countries like China, Japan, and South Korea, are already well-established hubs for vehicle production. An increase in production in these countries will naturally translate to a higher demand for all types of automotive motors, both electric and internal combustion engines (ICE).

Due to the still-developing market, government-sponsored assistance, and cost benefits for original equipment manufacturers, Asia Pacific has become a centre for the production of automobiles. Car manufacturers and suppliers of automotive equipment and components might benefit from the low market penetration and rising car production in this region.

Furthermore, the main reason for this is that manufacturers increased production in order to meet the growing demand and adhere to fuel-efficiency standards and laws. Growing attention from both domestic and foreign competitors in the Asia Pacific region is another factor contributing to the market’s expansion.

Will Focus on Technological Advancements Bolster Automotive Motor Market in North America?

According to our analyst, North America is a significant market for automotive motors, particularly in electric and hybrid vehicles.

Increasing investments and strong support being offered by the manufacturers and government in this region for the research and development in motor efficiency and integration with vehicle systems is projected to enable the market experience rapid growth over the forecast period.

Stringent emissions regulations and fuel efficiency standards implemented in the region, especially the US and Canada, is incentivizing the adoption of electric vehicles, creating lucrative opportunities of growth for the automotive motor.

Also, growing consumer interest in green technologies is propelling the demand for eco-friendly options in automotive motors.

Moreover, the presence of established manufacturers and technology companies further drives innovation and product differentiation in the automotive motor industry, enabling the region experience fastest-growth in the global Automotive Motor Market.

Competitive Landscape

These established players boast extensive experience, global reach, and financial muscle for R&D, while the emerging players bring agility, a focus on electric motor innovation, and the potential to disrupt specific segments. As the demand for EVs surges, competition in the electric motor segment is poised to intensify, fuelled by ongoing technological advancements and potential consolidation within the market. Understanding these key players and their strengths is crucial for businesses and investors navigating this ever-evolving landscape.

Some of the prominent players operating in the Automotive Motor Market include:

Siemens AG, Continental AG, Valeo S.A., Nidec Corporation, Mahle Group, Robert Bosch GmbH, Magna International, Denso Corporation, Mitsubishi Electric Corporation, and Borgwarner Inc.

Latest Developments

• In February 2021, BorgWarner introduced the HVH 320, a High Voltage Hairpin (HVH) electric motor, Manufacturing of the HVH 320, which has an 800-volt capability. It is available in four variations, with a 2024 release date anticipated. With over 400 kW of power and 1,270 Nm of torque, its multifaceted architecture supports the objective of a shared electric drivetrain and achieves roughly 97% peak efficiency. By producing power when braking or going downhill, the technology charges the battery and facilitates the vehicle’s shifting process.
• In September 2021, Continental AG declared that it is getting ready to release the SOP for China’s 800 V electric traction motor technology. The entire EMR4 platform, which debuted at the 13th Transmission Symposium in China, is compatible with the motor. The Chinese OEM’s electric car powertrain architecture includes the stator and rotor. Using a new line, Continental AG produces this technology at its Tianjin facility. An international project was used to build the 8-layer hairpin stator in the past. The 800 V motor technology SOP is expected in 2023. Its 8-layer hairpin construction guarantees the best copper fill factor, which means that despite its small size, it packs more power. Additionally, it is the first oil-cooled traction motor design.

Report Scope

Automotive Motor Market, By Category

Product:

• Stepper Motors
• DC Brushless Motors
• DC Brushed Motors
• Traction Motors
• Induction Motors

Vehicle Type:

• Passenger Cars
• Commercial Vehicles
  1. Heavy Commercial Vehicles
  2. Light Commercial Vehicles
• Electric Vehicle
  1. BEV
  2. HEV
  3. PHEV

Function:

• Performance
• Comfort & Convenience
• Safety & Security

Application:

• Comfort Motors
• Performance Motors
• Safety Motors

Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Research Methodology of Market Research:

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

Customization of the Report

• In case of any please connect with our sales team, who will ensure that your requirements are met.