Automotive Motors Market Growth, Size, Share, Trends, and Forecast 2032

According to the report published by Zion Market Research, the global Automotive Motors Market size was valued at USD 24.91 Billion in 2023 and is predicted to reach USD 41.02 Billion by the end of 2032. The market is expected to grow with a CAGR of 5.70% during the forecast period. The report analyzes the global Automotive Motors Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Automotive Motors Market industry.

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Global Automotive Motors Market: Overview

Automotive motors are an important component in the automobile industry as it used in several parts of today's advanced vehicles. Automotive motors are majorly used in automated mirrors, sunroofs, fuel pumps, wiper systems, and nowadays in electric vehicles. The use of these motors mainly depends on their function and requirement of power output. With the rapid expansion of the automobile industry and the introduction of electric cars, demand for automotive motors has significantly increased since the last decade.

Global Automotive Motors Market: Growth Factors

The global automotive motors market is growing at a rapid rate. Factors that are primarily fueling the growth of the market include rapid growth of the automobile sector, increasing use of automated parts in vehicles, and advancement in automotive motors technique. With the introduction of electric vehicles, many governments around the world are focusing on the adoption of electric vehicles to control air pollution levels. This has drastically increased the demand for electric cars, buses, and other electric transport vehicles. Automotive motors are primarily used to rotate the wheels in electric cars this is why the demand for automotive motors is significantly increasing in electric vehicles.

Moreover, advancement in automotive motors in terms of their performances, power consumption, and reduced cost are also contributing to the growth of the global automotive motors market. On the other hand, a halt on the automotive manufacturing process due to a reduced workforce in the COVID-19 pandemic period may hamper the growth of the market over the forecast period. However, the increasing demand for advanced vehicles in developing countries will provide better growth opportunities to the global automotive motors market during the forecast period.

Firm regulations instigated by many governments around the world in COVID-19 pandemic conditions to curb the spread of the COVID-19 infection have a severe impact on the overall automobile industry. Restrictions on manufacturing activities and strict rules for the movement of personnel at the workplace have lowered the production rate in automotive factories. This has directly impacted the demand for automotive motors in 2020. Further, disturbance in the supply chain and disruption of distributors network at the global level has resulted in a shortage of raw materials required to manufacture automotive motors. However, with the control on pandemic conditions, the market is expected to recover soon and register healthy growth over the forecast period.

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Global Automotive Motors Market: Segmentation

The global automotive motors market is classified based on the type, function, vehicle type, application, and region.

Based on the type, the global automotive motors market is divided into BLDC Motors, DC Brushed, and Stepper motors.

By function, the global market is categorized into performance, comfort & convenience, and safety.

The vehicle type segment is bifurcated as two-wheelers, electric two-wheelers, passenger cars, light commercial vehicles, heavy commercial vehicles, BEV, HEV, and PHEV.

By application, the market is categorized into the alternator, ETC, electric parking brake, sunroof motor, wiper motor, and others.

Automotive Motors Market : Report Scope

Global Automotive Motors Market: Regional Analysis

North America is anticipated to keep a major share in the global automotive motor market. The region is expected to contribute significant revenue in the automotive motor market owing to the large automobile sector, presence of major electric vehicle producers, and existence of key market players. The U.S is expected to be the largest revenue contributor in North America over the forecast period. The Asia Pacific is projected to be the most lucrative market for automotive motors over the forecast period. Some of the major factors that are contributing to the fast growth of the market in this region include the presence of large automobile industry, increasing demand for electric vehicles, and government initiative to boost the sale of electric vehicles.

Global Automotive Motors Market: Competitive Players

The global automotive motor market is highly competitive, key players in the market are focusing on organic strategies such as the development of advanced automotive motors, mergers, and acquisitions to stay ahead in the market. Some of the key players that are operating in the global automotive motors market include:

• Johnson Electric Holdings Limited
• Denso Corporation
• Nidec Corporation
• Buhler Motor
• Ricardo
• Robert Bosch GmbH
• Brose
• Calsonic Kansei Corporation
• Magna International
• Siemens AG, Valeo SA
• Mahle GmbH, Borgwarner Inc.
• Continental AG among others.

The Global Automotive Motors Market is segmented as follows:

By Type 

• BLDC Motors 
• DC Brushed 
• Stepper motors 

By Function 

• performance 
• comfort & convenience 
• safety 

By Vehicle Type 

• two-wheelers 
• electric two-wheelers 
• passenger cars 
• light commercial vehicles 
• heavy commercial vehicles 
• BEV 
• HEV 
• PHEV 

By Application 

• alternator
• ETC 
• electric parking brake
• sunroof motor 
• wiper motor 
• and others 

Global Automotive Motors Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.