Automotive Motor Trends and Forecast
The future of the global automotive motor market looks promising with opportunities in the passenger car, light commercial vehicle, and heavy commercial vehicle markets. The global automotive motor market is expected to reach an estimated $41.9 billion by 2030 with a CAGR of 6.3% from 2024 to 2030. The major drivers for this market are growing need for safety measures in automotive, rising demand for cutting-edge automotive systems, and increasing attention to vehicle comfort.
• Lucintel forecasts that brushed motors segment is expected to witness the highest growth over the forecast period.
• Within this market, passenger car will remain the largest segment.
• APAC is expected to witness the highest growth over the forecast period due to increasing production of vehicles and the growing attention of both domestic & international players in the region.
A more than 150-page report is developed to help in your business decisions.
Emerging Trends in the Automotive Motor Market
The automotive motor market is witnessing several transformative trends that are reshaping how vehicles are powered and operated. These trends are driving innovation and influencing market dynamics.
• Electric Vehicle Integration: The shift towards electric vehicles (EVs) is a dominant trend, with increasing adoption of electric motors across various vehicle segments. This trend is reducing reliance on internal combustion engines and supporting the transition to cleaner transportation.
• Advanced Motor Control Systems: Innovations in motor control systems are improving the efficiency and performance of automotive motors. Technologies such as advanced sensors and real-time data analytics are enabling more precise control and optimization of motor functions.
• Increased Focus on Efficiency: There is a growing emphasis on enhancing the efficiency of automotive motors through better materials, designs, and cooling systems. This trend is driven by regulatory pressures to reduce emissions and improve fuel economy.
• Hybrid Powertrains: The development and adoption of hybrid powertrains are rising, combining internal combustion engines with electric motors to enhance fuel efficiency and reduce emissions. This trend is providing a transitional solution between traditional and fully electric vehicles.
• Connected Motor Technologies: The integration of connectivity features in automotive motors is enabling smarter and more responsive vehicle systems. Connected motors allow for remote diagnostics, updates, and real-time performance monitoring, improving overall vehicle management.
These trends are reshaping the automotive motor market by driving technological advancements, improving vehicle performance, and supporting the shift towards more sustainable transportation solutions.
Recent Developments in the Automotive Motor Market
The automotive motor market is evolving with key advancements that are transforming the industry landscape. These developments are enhancing motor performance, efficiency, and integration in modern vehicles.
• Advancements in Electric Motors: Significant progress has been made in electric motor technology, including improvements in power density and efficiency. This development supports the growing demand for electric vehicles and enhances their range and performance.
• Integration of Regenerative Braking Systems: The adoption of regenerative braking systems in vehicles is capturing and reusing energy that would otherwise be lost. This development improves overall energy efficiency and extends the range of electric and hybrid vehicles.
• Development of High-Efficiency Motor Materials: Innovations in materials used for automotive motors, such as advanced magnets and high-temperature superconductors, are improving motor efficiency and durability. These materials contribute to better performance and longer motor lifespan.
• Advancements in Motor Cooling Technologies: New cooling technologies are being implemented to manage the heat generated by high-performance motors. Enhanced cooling systems are crucial for maintaining motor efficiency and preventing overheating in demanding driving conditions.
• Expansion of Motor Manufacturing Capabilities: The expansion of manufacturing capabilities for automotive motors, including the adoption of automated production techniques, is increasing production capacity and reducing costs. This development supports the growing demand for advanced motor systems.
These developments are driving growth and innovation in the automotive motor market, leading to more efficient, reliable, and technologically advanced motor systems.
Strategic Growth Opportunities for Automotive Motor Market
The automotive motor market offers several strategic growth opportunities across various applications, driven by advancements in technology and changing consumer preferences.
• Electric Vehicle Powertrains: The development of advanced electric vehicle powertrains presents a significant growth opportunity. Innovations in electric motor technology and battery systems are driving the expansion of EVs, offering improved performance and efficiency.
• Hybrid Vehicle Systems: Growth in hybrid vehicle systems is driven by the demand for vehicles that combine internal combustion engines with electric motors. This application offers a balance between performance and fuel efficiency, catering to a wide range of consumers.
• Automated Driving Systems: Integration of motors in automated driving systems presents growth potential. Advanced motors and control systems are essential for the development of autonomous vehicles, enabling precise and reliable operation of driving functions.
• Motor Control and Connectivity Solutions: The rise of connected vehicle technologies creates opportunities for motor control and connectivity solutions. These systems enhance vehicle performance, enable remote diagnostics, and improve the overall driving experience.
• Performance Tuning and Customization: The demand for high-performance and customized vehicles drives growth in motor tuning and customization applications. Innovations in motor technology and aftermarket parts are enabling enthusiasts to enhance vehicle performance and aesthetics.
These growth opportunities are shaping the future of the automotive motor market by driving technological advancements and expanding the range of applications for automotive motors.
Automotive Motor Market Driver and Challenges
The automotive motor market is influenced by a variety of drivers and challenges that impact its growth and development. These factors include technological advancements, economic conditions, and regulatory pressures.
The factors responsible for driving the automotive motor market include:
• Technological Advancements: Rapid advancements in motor technology, including improvements in electric and hybrid motors, are driving market growth. Innovations in materials, control systems, and cooling technologies are enhancing motor performance and efficiency.
• Regulatory Pressure for Emission Reduction: Stringent emissions regulations are pushing the automotive industry towards cleaner technologies. This driver is accelerating the development and adoption of electric and hybrid motors to meet environmental standards.
• Consumer Demand for Fuel Efficiency: Increasing consumer demand for fuel-efficient vehicles is driving the adoption of advanced motor technologies. Efficient motors help improve vehicle fuel economy and reduce operating costs, aligning with consumer preferences.
• Rising Investment in R&D: Significant investments in research and development are fueling innovations in automotive motors. Companies are focusing on developing new technologies and enhancing existing motor systems to stay competitive in the market.
Challenges in the automotive motor market are:
• High Production Costs: The high cost of advanced motor technologies and materials poses a challenge for manufacturers. These costs can impact pricing and market competitiveness, affecting the adoption of new motor systems.
• Limited Charging Infrastructure: The availability of charging infrastructure for electric vehicles remains a challenge. Limited charging options can hinder the adoption of electric motors and affect consumer confidence in electric vehicles.
• Regulatory Compliance and Standards: Compliance with varying regulatory standards across regions can be challenging for automotive manufacturers. Navigating these regulations requires significant resources and can impact the speed of market entry for new motor technologies.
In summary, the automotive motor market is shaped by rapid technological advancements and regulatory pressures, with challenges such as high production costs and supply chain disruptions influencing its growth. Addressing these drivers and challenges will be key to shaping the future of the automotive motor industry.
List of Automotive Motor Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. Through these strategies automotive motor companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the automotive motor companies profiled in this report include-
• Inteva Products
• BorgWarner
• Continental
• DENSO CORPORATION
• Marelli Holdings
• Magna International
• Buhler Motor
• Robert Bosch
• Valeo
• Johnson Electric Holdings
Automotive Motor by Segment
The study includes a forecast for the global automotive motor by motor type, function, vehicle type, application, and region.
Automotive Motor Market by Motor Type [Analysis by Value from 2018 to 2030]:
• Brushed Motors
• Brushless Motors
• Stepper Motors
Automotive Motor Market by Function [Analysis by Value from 2018 to 2030]:
• Performance Motors
• Comfort Motors
• Safety Motors
Automotive Motor Market by Vehicle Type [Analysis by Value from 2018 to 2030]:
• Passenger Car
• Light Commercial Vehicle
• Heavy Commercial Vehicle
Automotive Motor Market by Application [Analysis by Value from 2018 to 2030]:
• Heating, Ventilation & Air Conditioning
• Engine
• Safety & Security
• Others
Automotive Motor Market by Region [Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the Automotive Motor Market
Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major automotive motor producers in key regions: the USA, China, India, Japan, and Germany.
• United States: In the U.S., there has been a significant push towards integrating electric motors in mainstream vehicles. Major automakers are investing heavily in electric powertrains, with increased production of electric vehicles (EVs) and improvements in battery technology enhancing overall motor performance and efficiency.
• China: China continues to lead in the adoption of electric and hybrid motors, supported by strong government incentives and investments in EV infrastructure. The country is seeing a surge in domestic and international companies developing advanced motor technologies to meet the growing demand for cleaner transportation solutions.
• Germany: Germany is focusing on the development of high-performance electric and hybrid motors, driven by its commitment to reducing carbon emissions. German automotive giants are pioneering innovations in motor efficiency and integrating advanced technologies such as regenerative braking and energy recovery systems.
• India: IndiaÄX%$%Xs automotive motor market is expanding with an emphasis on affordable electric mobility solutions. Local manufacturers are working on cost-effective electric motors and components, supported by government initiatives aimed at promoting the adoption of electric vehicles and reducing air pollution.
• Japan: Japan is advancing in the development of high-efficiency electric motors and integrating them into both traditional and hybrid vehicles. Japanese automakers are also exploring innovations in motor control systems and connectivity to enhance vehicle performance and user experience.
Features of the Global Automotive Motor Market
Market Size Estimates: Automotive motor market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Automotive motor market size by various segments, such as by motor type, function, vehicle type, application, and region in terms of value ($B).
Regional Analysis: Automotive motor market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different motor types, functions, vehicle types, applications, and regions for the automotive motor market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the automotive motor market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in this market or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
FAQ
Q1. What is the automotive motor market size?
Answer: The global automotive motor market is expected to reach an estimated $41.9 billion by 2030.
Q2. What is the growth forecast for automotive motor market?
Answer: The global automotive motor market is expected to grow with a CAGR of 6.3% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the automotive motor market?
Answer: The major drivers for this market are growing need for safety measures in automotive, rising demand for cutting-edge automotive systems, and increasing attention to vehicle comfort.
Q4. What are the major segments for automotive motor market?
Answer: The future of the automotive motor market looks promising with opportunities in the passenger car, light commercial vehicle, and heavy commercial vehicle markets.
Q5. Who are the key automotive motor market companies?
Answer: Some of the key automotive motor companies are as follows:
• Inteva Products
• BorgWarner
• Continental
• DENSO CORPORATION
• Marelli Holdings
• Magna International
• Buhler Motor
• Robert Bosch
• Valeo
• Johnson Electric Holdings
Q6. Which automotive motor market segment will be the largest in future?
Answer: Lucintel forecasts that brushed motors segment is expected to witness the highest growth over the forecast period.
Q7. In automotive motor market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period due to increasing production of vehicles and the growing attention of both domestic & international players in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive motor market by motor type (brushed motors, brushless motors, and stepper motors), function (performance motors, comfort motors, and safety motors), vehicle type (passenger car, light commercial vehicle, and heavy commercial vehicle), application (heating, ventilation & air conditioning, engine, safety & security, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Automotive Motor Market, Automotive Motor Market Size, Automotive Motor Market Growth, Automotive Motor Market Analysis, Automotive Motor Market Report, Automotive Motor Market Share, Automotive Motor Market Trends, Automotive Motor Market Forecast, Automotive Motor Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.