Automotive Motor Market Size was valued at USD 38.5 billion in 2022. The Automotive Motor market industry is projected to grow from USD 40.39 Billion in 2023 to USD 59.31 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.4% during the forecast period (2023 - 2032).Increased demand for luxury vehicles presents growth opportunities. The growth of the worldwide automotive industry, the introduction of electric vehicles (EVs), and the High demand for safety and convenience featuresare the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The automotive industry has been witnessing increased demand for advanced vehicle features, such as power steering systems, climate control systems, and anti-lock braking systems. The automotive industry has witnessed an increase in the use of motors due to their various applications, contributing to the growth of the automotive motor market. Additionally, developed countries like the US are witnessing a surge in demand for improved vehicle comfort, safety, and convenience features. Such features, including steering-mounted controls, heads-up displays, advanced infotainment systems, gesture control systems, telematics, and central controllers, have become increasingly popular due to their luxury, safety, and security benefits. This factor drives the market CAGR
Additionally, the growing demand for luxury vehicles to present growth and the advancement in technology, particularly in artificial intelligence and machine learning, has led to the development of autonomous vehicles, contributing to the growth of the automotive motor market. Luxury vehicle manufacturers are focusing on the research and development of electric vehicles to meet the growing demand for sustainable and eco-friendly transportation due to environmental concerns. Luxury vehicle sales are expected to be boosted by incorporating advanced features such as autonomous driving, retina recognition, and personal voice assistance. Governments and environmental organizations worldwide are enforcing stricter emission norms due to rising exhaust emissions and increasing demand for EVs. Governments are also providing higher incentives and subsidies to encourage the adoption of sustainable transportation. These factors drive the Automotive Motor market revenue.
The Automotive Motor market segmentation, based on type, includes DC brushed Motors, BLDC motors, and stepper motorproducts. The DC brushed Motor segment dominated the market; Brushed DC motors are popular in the automotive industry due to their ease of installation and ability to provide high speed and power to vehicles. These motors are widely used in various automotive applications, such as power windows, cooling fans, windshield wipers, and other systems. The Brush DC motor comprises six parts, including the armature, commutator, axle, magnets, stator, and brushes. This type of motor generates a consistent and uninterrupted current through rings that control a magnetic force that drives the motor's armature.
Based on vehicle type, the Automotive Motor market segmentation includes passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger car segment dominates the market. Single-phase heat exchangers are frequently used in various heating and cooling applications, such as free cooling systems, dry coolers, and air conditioners. Water or glycol mixes are usually used as the primary media. In microchannel heat exchangers, single-phase heat transfer occurs when the liquid flows through the microtubes in a single phase.
Based on sales channels, the Automotive Motor segment includes OEM and Aftermarket. The OEM segment dominated the market, which refers to manufacturers, organizations, and developers focused on producing components or devices specifically designed for use in vehicles. Manufacturers in the automotive OEM segment produce high-quality components and devices that use premium raw materials. These parts are utilized during the manufacturing and assembly of vehicles.
Figure1: Automotive Motor Market, by Sales Channel, 2023 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on application, the Automotive Motor market segmentation includes performance, comfort, and safety motors. The performance motors segment dominated the market; the performance motor improves the vehicle's overall efficiency, and the comfort motor provides increased riding capability, increasing the demand for the vehicles in the future. The global market for performance motors is expected to maintain a healthy demand as it is directly linked to the worldwide production of vehicles. The growth in the market is supported by the increasing demand for high-performance luxury cars, which is a major driving factor.
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American automotive motor market will dominate, with increased demand for luxury vehicles to present growth opportunities and the growth of the worldwide automotive industry.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: Global Automotive Motor Market Share By Region 2023 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Automotive Motor market accounts for the second-largest market share due to the high focus on emission norms, rising demand for electric and luxury vehicles, decreasing display prices, high production volume, and integration with software technologies. Further, the German Automotive Motor market held the largest market share, and the UK Automotive Motor market was the fastest-growing market in the European Region.
The Asia-Pacific Automotive Motor Market is expected to grow at the fastest CAGR from 2023 to 2032. This is dueto the growing vehicle production in emerging economies and
The Region's automotive industry benefits from prominent automakers, including Suzuki, Toyota, Mitsubishi, Hyundai-Kia, Lexus, and Tata Motors Limited. Moreover, China’s Automotive Motor market held the largest market share, and the Indian Automotive Motor market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Automotive Motor market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The automotive motor industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Automotive Motor industry to benefit clients and increase the market sector. In recent years, the Automotive Motor industry has offered some of the most significant advantages to medicine. Major players in the Automotive Motor market, including 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), and others, are attempting to increase market demand by investing in research and development operations.
Renault Group, founded in 1899, is a well-established multinational automobile manufacturer headquartered in France, specializing in producing a wide range of vehicles, including cars and vans. Over the years, the company has also ventured into manufacturing tanks, trucks, tractors, aircraft, and other types of vehicles.Recently, Renault Group and Valeo and Valeo Siemens e-Automotive partnered to develop and produce an advanced electric motor for automotive applications in France.
Continental AG, a leading German automotive parts manufacturer, specializes in producing tires, brake systems, and interior electronics. The company plans to launch the 800 V electric traction motor technology in China, which is designed to fit into the EMR4 platform. Both stator and rotor are parts of a powertrain platform for electric vehicles developed by a Chinese OEM. Continental AG has established a new production line for manufacturing this technology at its Tianjin facility. The development of the 8-layer hairpin stator was a global effort, and production is expected to begin in 2023.
Feb 2022: In France, Renault Group, Valeo, and Valeo Siemens e-Automotive have come together to collaborate on the development and production of a next-generation electric motor for automobiles.
September 2021: Continental AG, a German multinational automotive parts manufacturer, has announced that it is preparing to start production for an 800 V electric traction motor technology in China. This motor is designed to fit the EMR4 platform, introduced at the 13th Transmission Symposium in China. The stator and rotor components are part of the Chinese OEM's electric vehicle powertrain platform, and this technology will be produced on a new line at Continental AG's Tianjin site. The development of the 8-layer hairpin stator was a global project, and the SOP for the 800 V motor technology is planned for 2023.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 38.5 billion |
| Market Size 2023 | USD 40.39 billion |
| Market Size 2032 | USD 59.31 billion |
| Compound Annual Growth Rate (CAGR) | 4.4% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Vehicle Type, Sales Channel, Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Robert Bosch (Germany), Johnson Electric Holdings Limited (Hong Kong), Continental (Germany), Nidec (Japan), Denso (Japan), Mitsubishi (Japan), Siemens (Germany), Magna (Canada), Valeo (France) |
| Key Market Opportunities | Growing demand for luxury vehicles presents a growth opportunity |
| Key Market Dynamics | The growth of the worldwide automotive industry and the introduction of electric vehicles (EVs) have a High demand for safety and convenience features. |
Automotive Motor Market Highlights:
Frequently Asked Questions (FAQ) :
The Automotive Motor market size was valued at USD 38.5 Billion in 2022.
The global market is projected to grow at a CAGR of 4.4% during the forecast period, 2023-2032.
North America had the largest share of the global market
The key players in the market areRobert Bosch (Germany), Johnson Electric Holdings Limited (Hong Kong), Continental (Germany), Nidec (Japan), Denso (Japan), Mitsubishi (Japan), Siemens (Germany), Magna (Canada), Valeo (France).
The DC Brushed MotorAutomotive Motor category dominated the market in 2022.
The OEM had the largest share of the global market.
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