Automotive Motor Market Research Report—Global Forecast till 2030

Automotive Motor Market Research Report Information By Product Type (DC Brushed Motor, BLDC Motor, Stepper Motor, Vehicle Type (Passenger, Light Commercial Vehicle, Heavy Commercial Vehicle) Sales Channel (OEM, Aftermarket) Application (Performance Motors, Comfort Motors, Safety Motors) Forecast 2030

ID: MRFR/AM/4146-CR | October 2022 | Region: Global | 110 Pages         

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Automotive Motor Market

Automotive Motor Market size is anticipated to register a CAGR of 4.9% between 2022 and 2030 to reach an approximate value of USD 55725.64 Million by 2030.

Segmentation
By Product DC Brushed BLDC Motors Stepper
By Application Performance Motors Comfort Motors Safety Motors
By Vehicle Type Passenger Car Commercial Vehicle
By Electric Vehicle Type BEV PHEV HEV
Key Players
Companies Profiled   Robert Bosch GmbH (Germany)    Johnson Electric Holdings Ltd. (Hong Kong)    Continental AG (Germany)    Nidec Corporation (Japan)    Denso Corporation (Japan)    Mitsubishi Electric Corporation (Japan). Siemens AG (Germany)    Magna International (Canada)    Valeo S.A. (France)    Borgwarner Inc. (U.S.)    Mitsuba Corporation (Japan)    Mahle Group (Germany)    PMP Auto Components Pvt. Ltd. (India)    SAIC Motor Corporation Limited (China)    REIL Electricals India Limited (India)
Drivers
Market Driving Forces   Growing demand for electric vehicles   Increase in production of passenger cars in emerging economies    Increased government initiative    energy efficient evaluation program    Increased demand from automotive industry    increased fuel efficiency
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The Global Automotive Motor Market size is projected to be worth USD 53,725.64 million by 2030, registering a CAGR of 4.92% during the forecast period (2022–2030).


Automotive Motor Market Overview


The automotive motor is designed to convert one type of energy into mechanical energy. They are an integral part of vehicle components because of its wide use in engine cooling fan, power steering, battery cooling, and other systems. The electric motor in automotive convert’s electrical energy into mechanical energy and pneumatic motors uses compressed air. The motors in automotive are used in internal combustion engines, high-speed motors, and others. In comparison to internal combustion engines with high-speed motors, which are used in the automotive, high-speed motor are double efficient as internal combustion. The motor in vehicles has wide applications, which include performance motors, comfort motors, and safety motors.


COVID-19 Impact on the Global Automotive Motor Market:


COVID-19 first began in Wuhan (China) in December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in the global automotive motor market. COVID-19 had negatively affected the GDP growth of both developed and developing economies due to the global lockdowns and trade restrictions. The impact of the COVID-19 pandemic on car production has hampered the growth of the global automotive motor market since manufacturing facilities have been shut down and the supply chain has been disrupted in several regions of the world. Many motor manufacturers struggled to maintain the demand amid COVID restrictions. However, the automotive motor market is recovering and expected to grow at a rapid rate over the forecast period.


Automotive Motor Market Dynamics


Drivers

  • The growth of worldwide automotive industry and introduction of electric vehicles (EVs)

  • High demand for safety and convenience features


Over the past few years, the automotive industry has been witnessing increased demand for advanced features in vehicles such as power steering system, climate control system, anti-lock braking system, and others. This has led to rise in applications of motor in automobile, thereby driving the growth of automotive motor market. Moreover, in developed economies, such as the U.S., there is rise in demand for enhanced convenience, safety, and comfort in automobiles. Features of comfort, luxury, safety, and security benefits, such as steering-mounted controls, heads-up displays, advanced infotainment systems, gesture control systems, telematics, and central controllers, are in demand.  


Restraints

  • Slowdown in the automotive industry


Rising fuel prices have a negative impact on the automobile industry, hitting vehicle demand, while also adding to the overall inflationary pressure, auto industry body. The Society of Indian Automobile Manufacturers (SIAM) has also suggested to the government a fitness-based scrappage policy instead of policy based on demand stimulus. Rise in fuel prices could mean an accelerated transition to electric vehicles. But higher prices of EVs and nascent stage of charging infrastructure are points of concern. The global automotive industry has been in turmoil since 2020. The industry and its supply chain were initially disrupted by COVID-19, and then by supply chain chaos when the sector was unprepared for the demand rebound. With the semiconductor shortage beginning to ease, 2022 was expected to be a better year, as indicated by increased sales during the initial months. But Russia’s invasion of Ukraine and fresh COVID waves in China have further delayed the industry’s recovery.


Opportunities

  • Growing demand for luxury vehicles to present a growth opportunity


Rapid advances in several fields, such as artificial intelligence and machine learning have subsequently led to advances in autonomous vehicles. The growth in research and development of the electrification of vehicles is one of the leading trends in the luxury vehicle industry. This factor is likely to augment the growth of automotive motor market. Additionally, the rapid development of various features, such as personal voice assistance, autonomous driving, and retina recognition, is also expected to promote the sales of luxury vehicles. With the growing environmental concerns due to rising exhaust emissions, governments and environmental associations worldwide are tightening emission norms. As a result, the demand for sustainable and eco-friendly transportation, such as EVs, is increasing, with governments offering higher incentives and subsidies to these vehicle owners.


Automotive Motor Market Supply Chain Analysis


In the design and development stage, the dimensions, technology, working conditions, vehicle type, working stress, and applications are analyzed to design and develop the motor, effectively. In the design stage, the overall design, components, material type, size, and shape of the motor are determined according to the application of the product, design standards, and specific vehicle requirements. The development stage includes an initial prototype development phase, followed by the testing phase, which is done under various working conditions for ensuring efficient product performance throughout the lifespan of a motor. The raw materials and components are selected according to the specific requirements of the design of the motor. An uninterrupted supply of high-quality raw materials and components in the required quantity not only ensures the longevity of the motor, but also has a considerable effect on its efficiency through its life span. Additionally, the functionality, price in the aftermarket, and the durability of the motor depend on the quality of the raw materials and components.


After procuring the necessary raw material and components, the manufacturers assemble the automotive motor or components by keeping in mind the requirements of the finalized design that are specified by the manufacturers. Once the manufacturing stage is completed, the finished automotive motor undergoes certain quality checks to ensure that they comply with the required performance standards, efficiency, and precision in critical work conditions. Then, the assembled automotive motor is sent for distribution. This is done to increase the production capacity to cater to the ever-increasing demand for motors from the end users. After the manufacturing and assembly processes are completed, the finished products are sent to various distributors and suppliers, such as independent dealers, company dealers, and omnichannel retailers who work as a channel to provide the final motor to the various automotive industry. The increased demand for aftermarket motor demands a strong distribution channel due to urbanization and commercialization, the increase in manufacturing facilities, and growing aftermarket adoption. The end-user includes automotive manufacturers such as AB Volvo, Aston Martin Lagonda Global Holding Plc, BMW AG, Daimler AG, Ferrari N.V., Nissan Motor Company Ltd., Tesla Inc, Toyota Motor Corporation, Volkswagen AG. and many others.


Automotive Motor Market Segmentation


Based on Product Type:


DC Brushed Motor, BLDC Motor, Stepper Motor are the segments based on the application of the Global Automotive Motor Market.  The DC Brushed Motor segment is expected to have the highest CAGR and dominate the market share during the forecast period. Brushed DC motor held the largest market share in 2021, ascribed to low cost and simple drive control model. They are easy to install and are used to provide high speed and power to the vehicle making them ideal for various automotive applications. Systems including power windows, cooling fan, windshield wipers, and so on make use of brushed DC motor. Brush DC motors comprise of six diverse components such as armature, commutator, the axle, magnets, stator, and brushes. The Brush DC Motor provides continuous and steady current with the help of rings to control a magnetic drive that functions the motor's armature.


Based on Vehicle Type:


Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle are the segments based on the application of the Global Automotive Motor Market.  The Passenger Car segment is expected to have the highest CAGR and dominate the market share during the forecast period. Single-phase heat exchangers are commonly employed in equipment for a wide range of cooling and heating applications. These include free cooling systems, dry coolers, air conditioners, and more, with water or glycol mixes as the most prevalent media. In MCHEs, single-phase heat transfer occurs when the liquid fluid in the microtubes follows the path of the single phase.


Based on Sales Channel:


OEM and Aftermarket are the segments based on the application of the Global Automotive Motor Market.  The OEM segment is expected to have the highest CAGR and dominate the market share during the forecast period. Automotive OEMs are those manufacturers, organizations and developers, focused on the manufacturing of components or devices utilized in vehicles. The components or devices that are produced by these manufacturers are of the finest quality and use the highest levels of raw materials. These parts are used in the making of vehicles during the assembly and manufacturing of the vehicle. The OEM segment is dominating the automotive motor market as the ratio of buying new vehicles is more than that of the replacement of wear and tear of the motor in used cars. The demand for passenger cars, as well as commercial vehicles in developing countries like India and China, are relatively increasing, so passenger’s safety and comfort have become the topmost priority of every automotive OEM. These factors have given a boost to the automotive motor market.


Based on Application:


Performance Motors, Comfort Motors and Safety Motors are the segments based on the application of the Global Automotive Motor Market.  The Performance Motors segment is expected to have the highest CAGR and dominate the market share during the forecast period. The performance motor improves the overall efficiency of the vehicle, comfort motor provides increased riding capability, which increases the demand of the vehicles in future. This increasing growth of performance motors is directly proportional to the vehicle production across the globe and its demand is estimated to remain healthy in the global market. The rising demand for luxury high-performance cars is one of the key drivers supporting the high-performance motor market growth. Luxury high-performance cars are preferred by end-users in developed countries as these offer better protection, advanced technologies, and increased comfort in comparison to non-luxury counterparts.


Automotive Motor Market Regional Analysis


The regions are classified as North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific is estimated to hold the highest revenue market share throughout the forecast period. The Asia Pacific accounted for the largest market share in terms of revenue in 2021 and is estimated to exhibit the fastest growth over the forecast period. This is ascribed to the growing vehicle production in emerging economies, such as China, India, and Japan. The Asia-Pacific region accounts for the largest share of the global Automotive motor market due to the presence of major automotive manufacturers, such as Hyundai-Kia, Suzuki, Mitsubishi, Tata Motors Limited, Lexus, and Toyota. Asia Pacific is likely to dominate the global market due to progress in economic conditions, increasing vehicle production, and rising investments by leading industry players in the region.


The automotive sector is one of the key industries in Europe. As per the European Commission, there are approximately 180 automobile facilities across the EU, and the automobile industry is the largest investor in R&D. Europe is a hub for automotive giants and premium vehicles. The major drivers for the automotive motors market in Europe are the high focus on emission norms, rising demand for electric and luxury vehicles, as well as the decreasing display prices, high production volume, and integration with software technologies. Europe is key market for automotive motor due to high penetration of motors among vehicles in the region.


Automotive Motor Market Competitive Landscape


The presence of a large number of domestic and international participants in this market has made the market highly competitive. Intense competition, rapid advances in technology, and regulations are key factors that confront the market growth. A substantial level of rivalry is observed among the existing manufacturers in the market. Our analysis revealed that market players had adopted different strategies and innovative research and development techniques to expand their business and secure their position in the global Automotive motors market. In recent years, strategic movements by major players included approvals, which have been used as market penetration strategies and a means to reduce competition.


List of Key Companies covered in the automotive motor market report:



  • Robert Bosch (Germany)

  • Johnson Electric Holdings Limited (Hong Kong)

  • Continental (Germany)

  • Nidec (Japan)

  • Denso (Japan)

  • Mitsubishi (Japan)

  • Siemens (Germany)

  • Magna (Canada)

  • Valeo (France)

  • BorgWarner (US)


Recent Developments:



  • In Feb 2022, Renault Group, Valeo and Valeo Siemens e-Automotive join forces to develop and manufacture a new-generation automotive electric motor in France

  • In September 2021, Continental AG announced that it is preparing the SOP for 800 V electric traction motor technology in China. The motor fits the overall EMR4 platform, which was introduced at the 13th Transmission Symposium in China. The stator and rotor are parts of the Chinese OEM’s electric vehicle powertrain platform. Continental AG manufactures this technology at its Tianjin site on a new line. The earlier development of the 8-layer hairpin stator was a global project. The SOP for the 800 V motor technology is scheduled for 2023. Its 8-layer hairpin design ensures an optimum copper fill factor which translates into more power from compact dimensions. It is also the first traction motor design for oil cooling.

  • In February 2021, BorgWarner launched the High Voltage Hairpin (HVH) electric motor, the HVH 320. Production of the HVH 320, which is equipped with 800-volt capabilities and available in 4 variants, is expected to launch in 2024. Its multi-faceted platform supports the goal of a common electric drivetrain and delivers approximately 97% peak efficiency and over 400 kW of power with 1,270 Nm of torque. The technology supports the vehicle’s shifting sequence and charges the battery by generating power while braking or driving downhill.

  • In September 2020, BorgWarner announced it is building a power-packed Integrated Drive Module (iDM) for Ford’s new all-electric Mustang Mach-E SUV. The iDM comes complete with a BorgWarner thermal management system and gearbox integrated with some motor and power electronics from other suppliers, which showcases its system integration expertise. The iDM is supplied to power the Mustang Mach-E’s rear-wheel-drive and all-wheel-drive configurations. BorgWarner supplies the secondary drive unit to power the front wheels on the all-wheel-drive GT version.

  • In October 2019, Nidec Corporation acquired OMRON Automotive Electronics from OMRON Corporation. OMRON Automotive Electronics carries out research and development, manufacturing, and sales of automotive electronic products. It is known for its control equipment and electronic components equipped with sensing and control technologies. Through this acquisition, Nidec Corporation developed a new module and system products by combining motors, pumps, gears, etc. of Nidec with the automotive electronics of OMRON.


Automotive Motor Market Report Overview:


The Global Automotive Motor Market is segmented based on product type, vehicle, sales channel, application, and region in this report. The report is focused on various analytical aspects such as market dynamics, Supply chain analysis, Porter’s five forces, competitive landscape, recent developments, and company profiles. The insights in this report, comprise, discuss views, and predict the emerging and fast-growing segments, regions, and countries with potential for development in the Global Automotive Motor Market.


Segmentation Overview:


By Product Type:



  • DC Brushed Motor

  • BLDC Motor

  • Stepper Motor


By Vehicle Type:



  • Passenger

  • Light Commercial Vehicle

  • Heavy Commercial Vehicle


By Sales Channel:



  • OEM

  • Aftermarket


By Application:



  • Performance Motors

  • Comfort Motors

  • Safety Motors


By Regions:



  • North America

  • Europe

  • Asia-Pacific

  • Middle East & Africa

  • South America


Objectives of the Study



  • To get a comprehensive overview of the Global automotive motor Market.

  • To get wide-ranging information about the key factors driving the market and market opportunities

  • To gain information regarding the key players in the industry, technology advancements and key developments

  • To gain insights about the key country/region in which the automotive motor market is growing


Intended Audience



  • Automobile Companies

  • Manufacturing Companies

  • Research Institutes

  • Academic Institutes

  • Government Organizations



Report Scope:

Report Attribute/Metric Details
  Market Size    2030: USD 53,725.64 Million
  CAGR    ~4.92%
  Base Year    2021
  Forecast Period    2022-2030
  Historical Data    2019 & 2020
  Forecast Units    Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product, Application, Vehicle Type, Electric Vehicle Type
  Geographies Covered   North America, Europe, Asia-Pacific, Middle East & Africa, and South America
  Key Vendors   Robert Bosch (Germany), Johnson Electric Holdings Limited (Hong Kong), Continental (Germany), Nidec (Japan), Denso (Japan), Mitsubishi (Japan), Siemens (Germany), Magna (Canada), Valeo (France), BorgWarner (US)
  Key Market Opportunities   Growing demand for luxury vehicles to present growth opportunity
  Key Market Drivers   The growth of worldwide automotive industry and introduction of electric vehicles (EVs) High demand for safety and convenience features


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Frequently Asked Questions (FAQ) :

Automotive Motor market is expected to reach USD 53,725.64 Million by 2030, growing at a CAGR of 4.92% over that time.

Leading companies in the industry include Robert Bosch, Johnson Electric Holdings Limited, Continental, Nidec, Denso, Mitsubishi, Siemens, Magna, Valeo, and BorgWarner.

Asia Pacific region would enjoy the upper hand in the Global Automotive Motor Market

The global automotive motor market is being restrained primarily by the slowdown in the automotive industry.