Automotive Motors Market Global Demand And Business Outlook 2027
Posted by avinash on March 9th, 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. 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.
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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.
DC brushed motors segment held the dominant position in the global automotive motors market in 2016
A DC brushed motor is an internally commutated electric motor, which provides a link between external supply circuit and armature of the motor. It is designed to run from a direct current power source. The brushes of these motors are made of materials such as carbon, copper, carbon graphite, and metal graphite. Furthermore, the DC brushed motor is expected to hold dominant position in the global automotive motor market, as DC brushed motors have the ability to achieve high torque at low speed, which makes these motors suitable for various applications in vehicles.
Detail Automotive Motors Market Segmentation:
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Major players operating in the global automotive motor market are Siemens AG, Robert Bosch GmbH, Continental AG, Denso Corporation, Magna International, Mitsubishi Electric Corporation, Valeo S.A., Mahle Group, Nidec Corporation, and Borgwarner Inc.
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About the Authoravinash
Joined: February 19th, 2020
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