Uploaded on Mar 9, 2020
Motors are an integral part of vehicle components such as seat cooling fans, engine cooling fans, power steering motors, battery cooling fans, and power window motors. Growing consumer inclination towards such advanced features in vehicles, is creating a conducive environment for growth of the automotive motor market
Automotive Motors Market
Automotive Motors Market
GLOBAL INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND
OPPORTUNITY ANALYSIS, 2018-2026
REPORT DESCRIPTION
Automotive Motors Market – Overview
Motors are an integral part of vehicle components such as seat cooling fans, engine cooling fans, power
steering motors, battery cooling fans, and power window motors. Growing consumer inclination towards
such advanced features in vehicles, is creating a conducive environment for growth of the automotive
motor market. Moreover, increasing sales volume of vehicles is expected to augment the market growth.
According to Organisation Internationale des Constructeurs d'Automobiles, in 2018, the production of
passenger cars was around 75 % of the total vehicle production worldwide.
Furthermore, growing adoption of electric vehicles is expected to drive growth of the automotive motor
market. In emerging economics such as India and China, electric vehicles are steadily becoming popular as
an alternative to conventional gasoline-powered vehicles, owing to the former’s fuel-efficient and low-
carbon emission properties.
REPORT DESCRIPTION
Automotive Motors Market – Dynamics
The recent past has witnessed rising adoption of electric vehicles as they are an eco-friendly option, are
cost effective. Such vehicles integrate a higher number of automotive motors and thus, growing demand for
such motors is expected to fuel growth of the automotive motors market. According to the International
Energy Agency (IEA) report In the Paris Agreement, it was stated that 600 million electric vehicles will be
on roads by 2040, which will in aid in bringing global warming to below 2°C”. Furthermore, in 2018, the
global electric vehicles sales exceeded 5.1 million, which was an increase of 2 million from 2017, and
double the number of new electric car sales compared to 2017.
In 2018, the hybrid electric vehicles segment held the dominant position in the market, and is projected to
retain its dominance throughout the forecast period. High sales of hybrid electric vehicle are one of the
major factors driving growth of the market.
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REPORT DESCRIPTION
Automotive Motors Market – Key Players
• Siemens AG
• Robert Bosch GmbH
• Continental AG
• Denso Corporation
• Magna International
• Mitsubishi Electric Corporation
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