The automotive motors are electric systems integrated in various automotive components such as airbags, ABS, and power windows, which help enhance vehicle performance, improve safety and increase comfort of occupants. Rampant growth of the global automotive sector, especially the electric vehicle segment, along with stringent government regulations pertaining to vehicle safety are in turn, augmenting market growth.
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The recent past has witnessed rising adoption of electric vehicles due to various advantages such as eco-friendly, less noise pollution, cost effective, cheaper to run and maintain. Such vehicles integrate a higher number of automotive motors and thus, growth of this segment fuels growth of the automotive motors market. According to Coherent Market Insights, around 565,668 units of electric vehicles were sold in 2015, globally up from 315,519 in 2014. China, the U.S., and Japan are some of the major countries that account for high market share in electric vehicles sales. In 2015, volume sales of electric vehicles was pegged at 214,283, 115,262 and 46,339 in China, the U.S., and Japan, respectively.
Motors are an integral part of vehicle components such as seat cooling fans, engine cooling fans, power steering motors, battery cooling fans, and power windows motors. Growing consumer inclination towards such advanced features in vehicles, in turn creates a conducive environment for growth of the automotive motor market. Moreover, increasing sales volume of vehicles further augments market growth. According to Organisation Internationale des Constructeurs d’Automobiles in 2016, around 69.5 million units of Passenger cars were sold globally, up from 66.3 million in 2015.
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DC brushed motors segment held the dominant position in global automotive motors market in 2016
Among product types, DC brushed motors segment held the dominant position in the market in 2016 and is projected to retain its dominance throughout the forecast period. Adoption of these DC brushed motors is increasing owing to its low cost and advantage of simple drive control model. Systems such as windshield wipers, power windows, washer, and cooling fans are dependent on DC brushed motors.
Key Companies- Global Automotive Motor Market.
Some of the major companies in the global automotive motor market are Siemens AG, Robert Bosch GmbH, Continental AG, Denso Corporation, Magna International, Mitsubishi Electric Corporation, Valeo S.A., Mahle Group, Nidec Corporation, and Borgwarner Inc.