Automotive Industry Today

Automotive Electric Motors Market at 8% CAGR : Industry Review, Research, Statistics, and Growth to 2023

Market Research Future published a research report on “Global Automotive Electric Motors Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Published 19 January 2018

Global Automotive electric motors market Information Report by installation position (Body motors, Chassis motors, Powertrain motors), By function (Small sized automotive electric motors, Automotive starters, Alternators and Others) and By Region - Forecast to 2023

Robert Bosch GmbH (Germany), Chengdu Huachuan Electric Parts Co.,Ltd. (China), Chongqing Bright Industry Group Co., Ltd.(China), Hubei Shendian Auto Motor Co., Ltd. (China), Jinzhou Halla Electrical Equipment Co., Ltd. (China), Johnson Electric International AG (Hong Kong), Mitsubishi Electric Corporation (Japan), Shanghai Valeo Automotive Electrical Systems Co., Ltd. (China), Shanghai Valeo Automotive Motor & Wiper Systems Co., Ltd.(China), Taizhou ValeoWenling Automotive Systems Co., Ltd. (China) and others and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Automotive Electric Motor Market.

Automotive Electric Motor Global Market – Overview

The Global Automotive Electric Motor Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Automotive Electric Motor will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2027, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2027). 

Automotive Electric motors are devices embedded in the automotive which works on the electro-magnetic induction principle by ensuring conversion of electrical energy into mechanical energy. The Automotive electric motors market is majorly driven by the increasing adoption of electric vehicles across the globe. The electric motors embedded in the automotive facilitate certain benefits to automotive which include longer operating life, low maintenance for the fluctuating voltages and the low consumption of energy.  The electric motors are capable of being integrated with controls and gearing which make it more suitable for use in automotive. The Automotive electric motors market is expected to grow over the CAGR of around 8% during the period 2017 to 2023.    

Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/2917       

Initially the Manufactures followed a simple design and a traditional process to manufacture Automotive Electric Motor. Gradually with the increasing complexities in the design of the Automotive Vehicles, the process of manufacturing and designs of door seals have also become increasingly complicated. This acts as a major hurdle in the process of installation and the designing of the Automotive Electric Motor. With the increasing labor cost over time, and lack of skilled labor any sort of design and installation issue will result in a blowout of the seals.  Such an issue in the Automotive Electric Motor market can act as major hurdle in the growth and development of the Automotive Electric Motor market.

The automotive industry requires significant initial investment, in general. Such high technological and capital requirements create certain barriers for the smaller players in the market to even exist. Availability of sophisticated technologies in regions such as North America and Europe has propelled the demand of the Automotive Electric Motor, across their countries and territories. Existence of major manufacturers in these regions along with their partnerships with the small local players, over the years, has deepened the scope of the market in these regions. Although, of late, there has been a significant influx of technology in the Asia-Pacific region, the lack of major market players and underdeveloped automotive infrastructure has resulted in alienating certain geographies, particularly the African and Middle East region.

These developing regions remain an untapped market for the Automotive Electric Motor and market players alike. With their developing economies and domestic income, there is a huge potential for the market, in these regions. The sheer volume of the untapped customer base in these regions is a factor that acts as a major restraint for the market growth. Thus, the lack of the presence of any major market players and initiatives in these regions is expected to act as a major hurdle for the global market.

Industry/ Innovation/ Related News:

July, 2011 - Two German-based companies with locations in South Carolina have signed agreements for a 50-50 joint venture to produce electric motors. Daimler AG and Robert Bosch GmbH are establishing a new company, EM-motive GmbH, to develop and produce traction motors for electric vehicles. Daimler has a Sprinter van assembly plant in North Charleston, and Bosch has manufacturing sites in North Charleston and Anderson. The companies said they intend to accelerate the development of traction motors for electric vehicles powered by battery, fuel cell or range extender. Production of motors is expected to begin in early 2012. The traction motors will be used in the electric vehicles of both the Mercedes-Benz and Smart brands, starting with the new generation of the Smart fortwo electric drive, which is to go on sale in early 2012.

February, 2014– Mitsubishi Electric Corporation announced it has developed a prototype electric vehicle (EV) motor drive system with a built-in silicon-carbide inverter. The EV motor drive system, the smallest of its kind, will enable manufacturers to develop EVs offering more passenger space and greater energy efficiency. Mitsubishi Electric plans to commercialize its new EV motor system after finalizing technologies for motor/inverter cooling, further downsizing and additional efficiency.

Enquiry before Buying @ https://www.marketresearchfuture.com/enquiry/2917    

Automotive Electric Motor Market – Segmentation

The Global Automotive Electric Motor Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Installation Position                     : Comprises Body motors, Chassis motors, Powertrain motors.

Segmentation by Function           : Comprises Small sized automotive electric motors, automotive starters, Alternators and Others

Segmentation by Regions            : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Automotive Electric Motor Market: Regional Analysis

Asia-Pacific is expected to dominate the automotive electric motors market owing to the boom in the manufacturing industries including the automotive manufacturers in the region. The constant up gradation of automobile manufacturing sector and the increasing emphasis of adoption of energy efficient electric motors in various automotive in the region is expected to contribute to the growth of the automotive electric motors market in the region. Developed nations such as North America and Europe are becoming aware for the use of efficient electric motors in the automotive and have increased adoption of electric motors owing to increased energy efficiency and the low cost of electric motors.

Access Full Report @ https://www.marketresearchfuture.com/reports/automotive-electric-motors-market-2917

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Other Industry News

Ready to start publishing

Sign Up today!