Automotive Electric Motors Market by Vehicle Type (Commercial Vehicles, Passenger Cars), Motor (AC Motors, DC Motors), Application - Global Forecast 2024-2030

Automotive Electric Motors Market by Vehicle Type (Commercial Vehicles, Passenger Cars), Motor (AC Motors, DC Motors), Application - Global Forecast 2024-2030

The Automotive Electric Motors Market size was estimated at USD 1.25 billion in 2023 and expected to reach USD 1.32 billion in 2024, at a CAGR 5.88% to reach USD 1.86 billion by 2030.

Automotive electric motors are essential components used in various automobile systems to perform propulsion, steering, and operation of windows and wipers. These motors convert electrical energy into mechanical energy, providing the necessary motion for various vehicle functions. The increasing global shift towards electric vehicles (EVs) due to environmental concerns and the need to reduce dependency on fossil fuels is driving the demand for automotive electric vehicles. The availability of stringent emissions regulations to combat climate change that makes automakers adopt more electric components, including electric motors, is creating a platform for market growth. Complexity in the design and integration of electric motors into existing automotive vehicles is hampering the growth of the automotive electric motors market. Rising innovations in motor technologies, such as improvements in motor efficiency and the development of lighter and more compact motors, are expected to create opportunities for market growth.

Regional Insights

In the Americas, there is a significant trend toward adopting electric vehicles (EVs), which drives the demand for automotive electric motors. The United States, Mexico, Brazil, and Canada are the major countries in the region, supported by governmental policies that favor EVs, infrastructure development for electric charging stations, and incentives for electric vehicle buyers. South America is gradually expanding, with countries including Brazil and Mexico beginning to increase their adoption of electric vehicle technologies, thereby expanding the market for automotive electric motors. Asia-Pacific region represents a growing landscape for the automotive electric motors market, largely propelled by the availability of government initiatives in China, Japan, and South Korea that promote electric vehicle adoption through subsidies. Additionally, this region's strong presence of major automotive and electronic manufacturers aids in the robust supply chain and production capabilities. Europe is at the forefront of the EMEA, with stringent regulations on vehicle emissions and high consumer awareness about environmental issues driving the shift towards electric vehicles. Countries such as Germany, France, and Norway show high adoption rates of electric vehicles, boosting the market for automotive electric motors. The Middle East and Africa are emerging markets in this sector, with the Middle East showing increasing interest in sustainable and advanced transportation solutions.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Automotive Electric Motors Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Growing production and sale of automotive vehicles worldwide
• Availability of government support for the adoption of electric vehicles

Market Restraints

• High cost of advanced electric motors

Market Opportunities

• Rising innovations to enhance the energy efficiency of electric motors
• Collaboration activities between market vendors and automotive manufacturers for the adoption of electric motors

Market Challenges

• Complexity with the design and integration of electric motors into existing automotive vehicles

Market Segmentation Analysis

• Motor: Growing usage of AC motors due to their efficiency and durability
• Application: High potential for auxiliary motors to improve a vehicle's overall energy consumption

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Automotive Electric Motors Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Automotive Electric Motors Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Aisin Corporation Unveils Revolutionary High-Efficiency Motor Using NANOMET at Automotive Engineering Exposition 2023

Aisin Corporation, in collaboration with Tohoku Magnet Institute Co., Ltd. (TMI), introduced an innovative ultrahigh-efficiency motor prototype at the Automotive Engineering Exposition 2023 in Yokohama. This motor, which incorporates NANOMET in its construction, is the fruit of Aisin's extensive experience in motor development for hybrid and battery electric vehicles, alongside its advanced production capabilities. TMI contributes with its expert research in motor composition and cutting-edge foil manufacturing techniques.

Bosch Advances Electromobility with Innovative 800-Volt Powertrain Technology

Bosch has initiated the production of advanced powertrain solutions employing 800-volt technology, designed to significantly expedite recharging times and enhance the viability of electric mobility. The newly developed inverters, incorporating silicon carbide semiconductors, boost efficiency and vehicle range. Enhancements in the electric motors, achieved by increasing power density, lead to lighter and more compact designs.

Infinitum Acquires Circuit Connect to Enhance Production of Innovative Air Core Motors

Infinitum announced its acquisition of Circuit Connect, Inc. to enhance its vertical integration and expand its PCB stator production capabilities. The acquisition is set to support the escalating demand for Infinitum’s eco-friendly motors, which are characterized by their compact and efficient design. This acquisition is pivotal in facilitating the continuous growth and scalability necessary to meet market demands for innovative and sustainable electric motor solutions.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Automotive Electric Motors Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Automotive Electric Motors Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., AMETEK Inc., Anaheim Automation, Inc., ARC Systems, Inc., BorgWarner Inc., Brook Crompton Group, Bühler Motor GmbH, Continental AG, DENSO Corporation, Emerson Electric Co., Faulhaber GmbH & Co. KG, Franklin Electric Co., Inc., General Motors Company, Hitachi Ltd., Johnson Electric Holdings Limited, Maxon Motor AG, Mitsubishi Electric Corporation, Motor Specialty Inc., Nidec Corporation, Regal Rexnord Corporation, Robert Bosch GmbH, Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, Toshiba Corporation, and Valeo SA.

Market Segmentation & Coverage

This research report categorizes the Automotive Electric Motors Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Vehicle Type
• Commercial Vehicles
• Passenger Cars
• Motor
• AC Motors
• DC Motors
• Application
• Auxiliary Motors
• Performance Motors
• Propulsion Motor
• Region
• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year