ID: MRFR/AM/2141-HCR | February 2021 | Region: Global | 111 pages
Automotive electric motors market is expected to grow over the CAGR of around 5% during the period 2017 to 2023.
Automotive Electric motors are devices embedded in the automotive which works on the electro-magnetic induction principle by ensuring conversion of electrical energy into mechanical energy. The Automotive electric motors market is majorly driven by the increasing adoption of electric vehicles across the globe. The electric motors embedded in the automotive facilitate certain benefits to automotive which include longer operating life, low maintenance for the fluctuating voltages and the low consumption of energy. The electric motors are capable of being integrated with controls and gearing which make it more suitable for use in automotive.
Study Objectives of Automotive Electric Motors Market:
|Market Size||2027: Significant Value|
|CAGR||5% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||installation position and function|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Robert Bosch GmbH (Germany), Chengdu Huachuan Electric Parts Co.,Ltd. (China), Chongqing Bright Industry Group Co., Ltd.(China), Hubei Shendian Auto Motor Co., Ltd. (China), Jinzhou Halla Electrical Equipment Co., Ltd. (China), Johnson Electric International AG (Hong Kong), Mitsubishi Electric Corporation (Japan), Shanghai Valeo Automotive Electrical Systems Co., Ltd. (China), Shanghai Valeo Automotive Motor & Wiper Systems Co., Ltd.(China), Taizhou ValeoWenling Automotive Systems Co., Ltd. (China)|
|Key Market Opportunities||To provide insights about factors affecting the market growth|
|Key Market Drivers||The factor of rising adoption of electric vehicles across the globe|
Frequently Asked Questions (FAQ) :
The market’s CAGR is calculated of around 8%.
The market will be evolving during the forecast period of 2017 to 2023.
Asia-Pacific would be leading the automotive electric motors market in the forecast period.
Robert Bosch GmbH (Germany), Chengdu Huachuan Electric Parts Co.,Ltd. (China), Chongqing Bright Industry Group Co., Ltd.(China),
The Automotive electric motors market is driven by the factor of rising adoption of electric vehicles across the globe.