According to a new report Global Automotive Motor Market, published by KBV Research, The Global Automotive Motor Market size is expected to reach $49.6 billion by 2025, rising at a market growth of 7.1% CAGR during the forecast period. The automotive industry is currently experiencing technological advances to meet rising consumer preferences. Automotive manufacturers emphasize the output of efficient motors. In addition, the growing need for fuel-efficient vehicles is driving the need for better performance and higher efficiency of automotive motors. Increased demand for fuel-efficient vehicles, along with strict environmental standards, also results in the production of light raw materials without sacrificing the structural strength of the components.
The Brushed DC Motor market dominated the Global Automotive Motor Market by Type 2018, growing at a CAGR of 6.1 % during the forecast period. Brushless DC motor witnessed a significant market growth in 2018. The brushless DC motor is not much prone to damage or breakage and undergoes relatively low wear and tear due to the lack of a physical commutator and brush. Brushless DC motors have a longer lifespan, reliability and efficiency. In a number of applications, the BLDC motor offers significant power density benefits, delivering better fuel economy, reduced weight, and lower emissions. These are used in cabin HVAC blowers and pumps and windshield wipers.
The Comfort market dominated the Global Automotive Motor Market by Application 2018. The Safety market is anticipated to witness a CAGR of 7.8% during (2019 - 2025). Additionally, The Others market is expected to witness highest CAGR of 8.4% during (2019 - 2025).
Asia Pacific accounted for the largest revenue share in 2018 and is expected to experience the fastest growth over the forecast period. This is due to the increasing development of automobiles in emerging economies like China, India, and Japan. It is expected that North America will emerge as one of the largest region by 2025 growing at a CAGR of 6.2% during the forecast period. One of the key factors driving the regional market is the strong presence of producers in Canada and the United States. As a result of the increasing presence of the automotive industry, Europe is also expected to be one of the largest regional markets and grows at a CAGR of 6.5% during the forecast period (2019 - 2025).
Structural Insights: https://www.kbvresearch.com/automotive-motor-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Siemens AG, Robert Bosch GmbH, Continental AG, Denso Corporation, Mitsubishi Electric Corporation, Valeo SA, Mahle Group, Nidec Corporation, BorgWarner, Inc., and Johnson Electric Holdings Limited.
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