Automotive Electric Motors Market Trends and Analysis by Technology, Companies and Forecast to 2028
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Automotive Electric Motors Market Report Overview
The automotive electric motors market size was 958.3 million units in 2023. The market will grow at a CAGR of more than 3% during 2023-2028. The automotive industry’s surge in demand for superior machine control is a major driver of the electric motor market’s expansion. In 2023, Asia-Pacific accounted for a significant share of the market.
Automotive Electric Motors Market Outlook, 2023-2028 (Million Units)
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The automotive electric motors market report provides a comprehensive overview of the market trends and drivers. The automotive electric motors report also provides a detailed overview of technological developments and innovations, PESTER analysis, and leading component suppliers at a global and regional level. Furthermore, it helps evaluate strategic initiatives by market players and their recent product innovations. The report also provides an overview of patent filings across sectors; regions; countries; and top applicants.
Market Size (2023) | 958.3 million units |
CAGR (2023-2028) | >3% |
Key Regions | Asia-Pacific, Europe, North America, South America, and MEA |
Leading Players | Behr / Mahle Behr, Denso, Valeo, Visteon/HVCC/Hanon |
Key Sectors | Power windows, wiper motors, OE actuator mirror motors, seat motors, and others |
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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
Provides an overview of automotive industry scenario regarding the future outlook in terms of global trends, drivers, technologies and developments. The analysis also covers regional overview across five regions – Asia-Pacific, Middle East & Africa, Americas, Western Europe, and Eastern Europe – highlighting industry size, growth drivers, latest developments, and future inhibitors for the regions.
Reasons to Buy
- The report provides its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector.
- The report analyzes regions and competitive landscape that can help companies gain insight into the region-specific nuances.
- The report assesses the key trends that drive customer choice and the future opportunities that can be explored in the region. Actionable insights on trends can help companies in revenue expansion.
- The report helps gain competitive intelligence about leading component suppliers in the region with information about their market share and growth rates.
Denso
Valeo
Visteon/HVCC/Hanon
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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