Automotive Motors Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2019 - 2025

 Global Automotive Motors Market: Overview

The increasing demand for commercial and industrial vehicles, particularly across APAC, is reflecting positively on the growth prospects of the automotive motors market. Rise in disposable income and limited fuel worldwide are demanding for more efficient and less fuel consuming motors. As per the report released by the European Automobile Manufacturers Association (ACEA), 98.9 million motor vehicles were produced globally in 2017.[1] Owing to the fact that increase production of vehicles propels the demand in the global automotive motor market, opportunities will increment at a notable compound annual growth rate of 8.69% during the forecast period of 2019-2025, mounting on $27.81 billion worth as of 2018.

APAC is positioned as the leading region in the global automotive motors market. The report by ACEA suggested the increase production of vehicles in China by 3.5% followed by Japan and Korea by 2.6% in 2017.[2] These facts will prove to be determinants of the growth prospects in automotive motors market. The APAC offered global demand share of 45.09% in 2018, and it is expected to grow further in the near future.

Global Automotive Motors Market: Outlook

Automotive motors have electric motors that convert electric energy to mechanical energy. They are an integral part of an electric car motor or vehicle component as they are used in engine cooling fan, battery cooling, and power steering. Additionally, the automotive motors are used in high-speed motors and other systems which are well equipped with AC and DC motors and are in demand globally.

Rise in disposable income has led to increase the demand for vehicles. The perceptible increase in passenger cars and light commercial vehicles application segment has led to an increase in the automotive motors market revenue. This key application segment is anticipated to grow at a progressive CAGR of 11.34% during the aforementioned forecast period.

Global Automotive Motors Market: Growth Drivers

·    Installing of powerful batteries can improve the power and strength of the motors that is driving the automotive motors market.

·    Growing production and innovations in the sector such as incremented usage of electrification across various components.

·    Increase innovations and integration of various safety systems such as electronic stability control (ESC), anti-lock braking system (ABS), lane keep assist are also likely to drive the automotive motors market.

Global Automotive Motors Market: Trends

·     Rules and regulations enforced by the governments concerning the safety of the environment, encourage manufacturers to produce environment-friendly and efficient vehicles, which has successively resulted in an increase in the demand in the automotive motors market. 

·      The increasing efficiency of the engine is possible with great horsepower of the engine. The use of gasoline turns the engine runs smoothly but the alternative solution to this is use of ethanol to boost the power and green credentials. The use higher octane ethanol is increasing the car performance.

·      The innovation of hybrid engine are gaining tractions from several automotive industry. The two different sources in hybrid engine are an internal combustion engine which produces power and electric motor. Both the sources together produce the power the vehicle required to operate. The boosting performance of vehicles using hybrid engine is one of the growth prospects of the automotive motor market.

·        The V8 engine or the eight-cylinder V configuration engine are one of the recent technology used in vehicles for faster acceleration and more efficient exhaust system design. The growing demand for V8 engines especially for expensive cars will allow to enhance the value of the automotive motors market.

Global Automotive Motors Market: Challenges

The challenge in the automotive motor market is vehicles motor are need to be changed after certain intervals of time due to its prolonged use. Increasing innovations and efforts from various automotive manufactures find the solution of the challenges by developing the electric vehicles on the road. Electric vehicles requires the motor for the performance of the vehicle so it will not hamper the growth of the automotive motors market but the number of operations appointed to motor in electric vehicles are relatively less than other cars.

We also publish more than 100 reports every month in "Automotive”, Go through the Domain if there are any other areas for which you would like to get a market research study."

Location: United States

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