Automotive Electric Motors Market Trends, Sector Overview and Forecast to 2028
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The global electric motors market is recorded at 958.3 mn units in 2023, recording a substantial annual growth of 8.7%. The sector posted a CAGR of 0.8% during 2018–23. The sector is forecast to post a healthy CAGR of 15.3% over 2023–28 and is anticipated to increase and record 54.0 mn units in 2028. In 2023, Power Windows garnered the largest share of 24.4% among all electric motors' components, which is expected to decrease to 22.6% by 2028. Wiper Motors’ share in 2023 is 12.0% with an expected share of 11.9% in 2028. OE actuator mirror motors share is 15.3% in 2023 and is anticipated to increase in 2028 to 17.7%. Seat motors gained an 11.6% share in 2023 and are anticipated to decline to 10.6% in 2028.
This report brings together multiple data sources to provide a comprehensive overview of the global Automotive Electric motors sector. It includes analysis on the following –
Trends & Drivers: Provides an overview of current sector scenario regarding the future outlook in terms of key trends and drivers of the sector.
Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.
PESTER Analysis: Provides a detailed understanding of various factors such as political, economic, social, technological, environmental, and regulatory impacting the sector.
Sector Forecast: Provides deep-dive analysis of global market covering volume growth during 2018–2028, and spot estimates for 2023 and 2028. The analysis also covers regional overview across four regions-Asia-Pacific, Europe, North America, and South America and MEA-highlighting sector size, and growth drivers for the region.
Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the recent product innovations and key strategic initiatives taken by the companies.
Patent Analysis: Provides an overview of patent filings in the sector across regions, countries and top applicants.
Automotive Electric Motors Market Drivers
The key trends shaping the automotive electric motors industry are increased demand for HVAC systems, electric vehicles, and renewable energy integration.
Increased demand for HVAC systems: The automotive electric motors market is anticipated to grow because of the increasing demand for HVAC systems with cutting-edge technology. Thermal air-conditioners have emerged because of the increase in green-labeled goods brought on by greater environmental awareness.
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Automotive Electric Motors Market Segmentation by Regions
In 2023, Asia-Pacific accounted for the highest share among all the regions
The key regions in the automotive electric motors market are Asia-Pacific, Europe, North America, South America, and MEA. China has been driving the growth in APAC and holds the highest market share in the region. Furthermore, the rise in consumer awareness regarding environmental issues and the development of battery technology are contributing to the expansion of the automotive electric motors market in the Asia Pacific region.
Automotive Electric Motors Market Analysis by Regions, 2023 (%)
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Automotive Electric Motors Market - Competitive Landscape
Behr / Mahle Behr dominates the HVAC systems supply market in 2021
A few of the top companies operating in the automotive electric motors market are:
- Behr / Mahle Behr
- Denso
- Valeo
- Visteon/HVCC/Hanon
Denso: In April 2019, Denso announced that, to support its “aggressive development and production of electrified automotive products, systems, and technologies,” it would invest a significant amount from the fiscal year 2018 to 2020.
Automotive Electric Motors Market Analysis by Companies
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Automotive Electric Motors Market Segmentation by Sectors
Power Windows garnered the largest market share in 2023
The primary sectors in the automotive electric motors market are power windows, wiper motors, OE actuator mirror motors, seat motors, and others.
Electric and Electronic Distribution Systems Market Companies
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Automotive Electric Motors Market – Latest Developments
A few of the latest developments in the automotive electric motors market are as follows:
- Stellantis intends to source more than a million electric motors annually from its joint venture, Emotors, at its production facility in Trémery, Lorraine, France.
- With the opening of an engineering center for electric propulsion, BorgWarner continues to grow in Bangalore.
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Segments Covered in the Report
Automotive Electric and Electronic Distribution Systems Sector Outlook (Value, Million Units, 2018-2028)
- Power Windows
- Wiper Motors
- OE Actuator Mirror Motors
- Seat Motors
Automotive Electric and Electronic Distribution Systems Regional Outlook (Value, Million Units, 2018-2028)
- Asia-Pacific
- Europe
- North America
- South America
- MEA
Scope
This report brings together multiple data sources to provide a comprehensive overview of the global Electric Motors sector. It includes an analysis of the following:
Trends & Drivers: Provides an overview of the current sector scenario regarding the future outlook in terms of key trends and drivers of the sector.
Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.
PESTER Analysis: Provides a detailed understanding of various factors such as political, economic, social, technological, environmental, and regulatory impacting the sector.
Sector Forecast: Provides deep-dive analysis of the global market covering volume growth during 2018–2028, and spot estimates for 2030 and 2036. The analysis also covers a regional overview across four regions-Asia-Pacific, Europe, MEA, North America, and South America -highlighting sector size, and growth drivers for the region.
Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the recent product innovations and key strategic initiatives taken by the companies.
Patent Analysis: Provides an overview of patent filings in the sector across regions, countries, and top applicants.
Reasons to Buy
Auto OEMs and component suppliers seek the latest information on how the market is evolving to formulate their sales and marketing strategies. There is also a demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector in the region. The report provides a detailed analysis of the regions and competitive landscape that can help companies gain insight into the region-specific nuances. The analysts have also placed a significant emphasis on the key trends that drive customer choice and the future opportunities that can be explored in the region, which can help companies in revenue expansion. To gain competitive intelligence about leading component suppliers in the sector in the region with information about their market share and growth rates.
Denso
Valeo
Bosch
Table of Contents
Table
Figures
Frequently asked questions
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What is the Automotive Electric Motors Market size in 2023?
The Automotive Electric Motors Market size was estimated at 958.3 million units in 2023.
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What will the CAGR in the Automotive Electric Motors Market be during 2023-2028?
The Automotive Electric Motors Market is to grow at a CAGR of more than 3% during 2023-2028.
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Which region has been garnering the highest Automotive Electric Motors Market share?
Asia-Pacific has been garnering the highest Automotive Electric Motors Market share.
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Which are the leading Automotive Electric Motors Market players?
Behr / Mahle Behr, Denso, Valeo, and Visteon/HVCC/Hanon, among others, are some of the leading electric motors market players.
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