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Automotive Motors Market

09-19-2018 10:56 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent Market Insights

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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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.

According to Organisation Internationale des Constructeurs d'Automobiles in 2016, 39.4 million units of Passenger cars were sold in this region, up from 36.1 million units in 2015. It also stated that in 2016, China held 61.8% share of the total Asia Pacific Passenger cars sales and 35.1% of the global Passenger cars sales. Hence, China was the largest market in the region in 2016. Rising consumer preference for start-stop systems, anti-lock bricking systems (ABS), and other such technologies have also accelerated growth of the automotive motors market in Asia Pacific. The recent past has witnessed various government regulations regarding vehicular safety being implemented across the world.

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.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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