DUBLIN, July 26, 2022 /PRNewswire/ — The “Automotive Motors Market by EV Motor Type (Brushless, Brushed, Traction, Induction, Stepper), ICE Motor Type, Vehicle Type (PC, LCV, HCV), Electric Vehicle Type, Application, Function (Performance, Safety, Comfort) and Region – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The global automotive motors market for ICE vehicles is projected to grow from USD 23.0 billion in 2022 to USD 28.7 billion by 2027, at a CAGR of 4.5%. Rising demand for automobile safety by major countries and the use of additional comfort features, especially in midpriced and luxury automobile segments will lead to a growing demand for automotive motors.
OEMs are currently working with component manufacturers to provide such comfort and safety features to their customers at a better customization (available in higher priced models) of their vehicles. The shift to EVs and recovery of automobile sales from the decline during the pandemic will further increase demand for automotive motors around the world.
Brushless Motors to be a fast growing segment during the forecast period
The major applications of brushless motors include EGR motors, electric sunroof motors, and many others. Brushless motors are more efficient and durable than brushed motors as these are not susceptible to damage or breakage and undergo minimal wear and tear, attributed to the absence of a physical commutator and brushes.
Also, brushless motors have better speed and torque and can maintain or increase torque at various speeds. Importantly, there is no power loss across brushes, making the motors significantly more efficient. Brushless motors also provide high output power, better heat dissipation, higher speed ranges, and lownoise operation.
Brushless DC motors provide significant benefits in terms of power density, thereby providing better fuel economy, reduced weight, and lower emissions. They are used in cabin HVAC blowers, pumps, and windshield wipers, among others. The factors accelerating the growth of brushless motors in the global market include manufacturing advanced technology in vehicles.
Since regulations enforced by the governments have encouraged manufacturers and customers to opt for electric and hybrid vehicles, there has been an increase in the demand for motors offering lesser weight and high speed. The use of brushless motors in the power steering system can improve fuel consumption by 3-5% if an electric system replaces the hydraulic system. The motors are useful in both ICE and electric drives, so their demand is more hyped in the market.
Europe is expected to have a higher demand for comfort and safety motors during the forecast period
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.
However, in recent years, there has been a slump in the production of vehicles and an increase in competition from emerging markets such as India, China, and Brazil. The increasingly stringent regulations related to environmental issues are encouraging market players to develop advanced vehicles with better emission control, along with improving safety and comfort features, further boosting the market for automotive motors.
The European region for this study is segmented into Germany, France, Spain, UK, Italy, and Rest of Europe. It is a major hub for many renowned OEMs for delivering quality and highperformance vehicles. Most European vehicles are equipped with highend automotive motors technology.
However, Eastern European countries still lag behind Western European countries such as the UK, Germany, France, and Spain, in terms of vehicle norms and technology. 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.
Research Coverage:
The report covers Automotive Motors Market by EV motor type (brushless, brushed, traction, induction, stepper, others), ICE motor type, vehicle type (PC, LCV, HCV), electric vehicle type, application, function (performance, safety, comfort) and region (Asia Pacific, North America, Europe and Rest of the World). It also covers the competitive landscape and company profiles of the major players in the automotive motors market ecosystem.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Automotive Motors Market, by Application
7 Automotive Motors Market, by Function for Ice Vehicle
8 Automotive Motors Market, by Function for Electric Vehicle
9 Automotive Motors Market, by Motor Type
10 Automotive Motors Market, by Vehicle Type
11 Automotive Motors Market, by Electric Vehicle Type
12 Automotive Motors Market, by Ev Motor Type
13 Automotive Motors Market, by Region
14 Competitive Landscape
15 Company Profiles
16 Analyst’s Recommendations
17 Appendix
Companies Mentioned
- Aisin Corporation
- Borgwarner
- Bosch
- Continental Ag
- Denso
- Johnson Electric
- Magna International
- Mahle GmbH
- Meritor
- Mitsubishi Electric
- Nidec Corporation
- Zf Group
For more information about this report visit https://www.researchandmarkets.com/r/ist379
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SOURCE Research and Markets
