Automotive Electric Motors Market and Trend Analysis by Technology, Key Companies and Forecast to 2028

Automotive Electric Motors Market and Trend Analysis by Technology, Key Companies and Forecast to 2028

Summary

The global electric motors market is recorded at 941.2 million units in 2023, recording a substantial annual growth of 6.6%. However, the sector posted a CAGR of 0.4% during 2018-23, primarily owing to the prolonged impact of the COVID-19. Over the forecast period, the sector is expected to record a CAGR of 3.9% during 2023-28 to reach 1140.4 mn units by 2028. In 2023, Power Windows garnered the largest share of 24.3% among all electric motors' components, which is expected to decrease to 22.7% by 2028. Wiper motors share in 2023 is 12% with an expected share of 11.9% in 2028. OE actuator mirror motors share is 15.3% in 2023 and anticipated to increase in 2028 to 17.7%. Seat motors gained 11.6% share in 2023 and anticipated to decline to 10.6% in 2028. Top four companies operating in the global HVAC systems market are Behr / Mahle Behr, Denso, Valeo, and Visteon/HVCC/Hanon

This report brings together multiple data sources to provide a comprehensive overview of the global Automotive Electric motors sector. It includes analysis on the following -

Trends & Drivers: Provides an overview of current sector scenario regarding the future outlook in terms of key trends and drivers of the sector.

Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.

PESTER Analysis: Provides a detailed understanding of various factors such as political, economic, social, technological, environmental, and regulatory impacting the sector.

Sector Forecast: Provides deep-dive analysis of global market covering volume growth during 2018-2028, and spot estimates for 2023 and 2028. The analysis also covers regional overview across four regions-Asia-Pacific, Europe, North America, and South America and MEA-highlighting sector size, and growth drivers for the region.

Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the recent product innovations and key strategic initiatives taken by the companies.

Patent Analysis: Provides an overview of patent filings in the sector across regions, countries and top applicants.

Scope

• This report provides an overview of the current industry scenario regarding the future outlook in terms of trends, drivers, technologies, and key market players. The analysis also covers a regional overview across five regions - Asia-Pacific, Middle East & Africa, Americas, Western Europe, and Eastern Europe - highlighting industry size, growth drivers, latest developments, and future inhibitors for the regions.

Reasons to Buy

• Auto OEMs and component suppliers seek the latest information on how the market is evolving to formulate their sales and marketing strategies. There is also a demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector in the region. The report provides a detailed analysis of the regions and competitive landscape that can help companies gain insight into the region-specific nuances. The analysts have also placed a significant emphasis on the key trends that drive customer choice and the future opportunities that can be explored in the region, which can help companies in revenue expansion. To gain competitive intelligence about leading component suppliers in the sector in the region with information about their market share and growth rates.