The report provides a comprehensive analysis of automotive motors used in the automotive industry.
— Allied Market Research
PORTLAND, OR, US, February 1, 2024 /EINPresswire.com/ — Automotive Motors Market by Type (DC Brushed Motors, Brushless DC Motors, Stepper Motors, and Traction Motors), Vehicle Type (Two-wheelers, ICE Passenger Cars, ICE Commercial Vehicles, and Electric Vehicles), and Application (HVAC, Engine, Safety & Security, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032″. According to the report, the automotive motors market size was valued at $47,203.12 Million in 2022, and is projected to reach $ 77,499.4 Million by 2032, registering a CAGR of 5.03% from 2023 to 2032.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/6187
The automotive market is positively affected by safety regulations implemented by government for installation of power window, airbags, and anti-lock braking systems (ABS) in every vehicle. Europe and North America have been witnessed to follow these regulations more stringently as compared to Asia-Pacific and rest of the world. However, in developing countries, OEMs are providing key less entry and anti-lock braking system (ABS) as standard features in vehicles, supporting the government to improve safety measures, which boosts the sales of automotive motors. These safety systems need separate motors to function smoothly and to communicate with other components of vehicle to provide complete safety to passengers. Hence, as the incorporation of safety features has been made obligatory, the demand for automotive motors is anticipated to grow, which fuels the growth of the market.
𝐏𝐫𝐢𝐦𝐞 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐠𝐫𝐨𝐰𝐭𝐡
The significant impacting factors in the growth of the automotive motors market include high demand for safety and convenience features, rise in requirement of electric vehicles, and stringent safety regulations set by government for automotive industry. Further, decrease in global vehicle production, increase in trend of shared mobility, wide number of applications employing the use of electric motors, and concept of autonomous cars have strong impact on the market. Each of these factors is anticipated to have a definite impact on the automotive motors market during the forecast period (2023-2032).
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/automotive-motors-market/purchase-options
Based on vehicle type, the two wheelers segment held the highest market share in 2022, accounting for one-third of the global automotive motors market, however others segment is estimated to lead the market segment during the forecast period. Two wheelers are generally less costly when compared with other vehicle types and serve as an economical option. In addition, two-wheelers serve various riding purposes, which include daily commuting, off-road riding, long-distance travelling, cruising, and others, thereby driving the market growth.
Vehicle manufacturers use HVAC technology in vehicles to improve the vehicle’s indoor air quality as well as to provide the comfortable environment inside the vehicle, thereby boosting the growth of the market. In addition, HVAC also plays an important role in windshield/window defogging, which further drives the market growth. Various vehicle manufacturers, such as Audi, Mercedes, and BMW, focus on customized and consumer-friendly HVAC systems. For instance, the BMW 6 Series supports automatic air conditioning, including air distribution for driver and passengers, fogging sensor, and automatic climate control system.
𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
𝐑𝐨𝐛𝐞𝐫𝐭 𝐁𝐨𝐬𝐜𝐡 𝐆𝐦𝐛𝐇, 𝐕𝐚𝐥𝐞𝐨, 𝐂𝐨𝐧𝐭𝐢𝐧𝐞𝐧𝐭𝐚𝐥 𝐀𝐆, 𝐈𝐧𝐭𝐞𝐯𝐚 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬, 𝐋𝐋𝐂, 𝐁𝐮𝐡𝐥𝐞𝐫 𝐌𝐨𝐭𝐨𝐫 𝐆𝐦𝐛𝐇, 𝐉𝐨𝐡𝐧𝐬𝐨𝐧 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐇𝐨𝐥𝐝𝐢𝐧𝐠𝐬 𝐋𝐢𝐦𝐢𝐭𝐞𝐝, 𝐌𝐚𝐫𝐞𝐥𝐥𝐢 𝐇𝐨𝐥𝐝𝐢𝐧𝐠𝐬 𝐂𝐨., 𝐋𝐭𝐝. , 𝐁𝐨𝐫𝐠𝐖𝐚𝐫𝐧𝐞𝐫 𝐈𝐧𝐜. , 𝐃𝐄𝐍𝐒𝐎 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐌𝐚𝐠𝐧𝐚 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐜.
The number of users relying on ride-sharing applications has increased in the recent years. For instance, Uber launched their ride hailing services in 30 cities for expanding its business across the globe. To create awareness and promote their new services, the key players offer discounts, free ride, and coupon facilities to the customers. Moreover, Lyft is providing free rides to patients. Furthermore, Lyft also invested in several partnerships, most noticeably in healthcare transportation, which provides new mobility options for non-drivers, including older people, younger people, people with disabilities, and people without access to a vehicle.
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for half of the global automotive motors market revenue. The market is significantly influenced by factors such as advanced technology, increased investments in research and development projects, and the rising living standards of people in the region. For instance, the government of China views its automotive industry, including the auto parts sector as one of the main industries in the country. China continues to be the world’s largest vehicle market with highest number of ICE and electric vehicles produced across the globe. The Chinese Central Government estimates that China’s automobile output is expected to reach 30 million units by 2020 and 35 million by 2025. Made in China 2025 is an effort to transition the nation’s industry from low-cost mass production to more value-added advanced manufacturing.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/6187
𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘
By type, the DC brushed motors segment generated the highest revenue in the automotive motors market analysis in 2022.
LAMEA is anticipated to exhibit the highest CAGR during the forecast period while considering automotive motors market growth.
Latin America leads the market in the LAMEA region.
The leading companies listed in the automotive motors market report expects high revenue from automotive motors market returns.
𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
Automotive Intelligent Lighting System Market – https://www.prnewswire.com/news-releases/automotive-intelligent-lighting-system-market-to-reach-9-25-billion-globally-by-2030-at-9-8-cagr-allied-market-research-301430767.html