Press release
Global Automotive Motors Market Growth, Size, Report & Forecast to 2020-2026
The global automotive motor market is projected to grow at a significant CAGR of 8.5% during the forecast period. The demand for vehicles is directly proportional to the sales of automotive motors, thus, the expected growth in vehicle sales in the future will drive the growth of the global automotive motors market. In addition, the average number of motors per vehicle is also increasing which is further expected to drive the market growth during the forecast period.Get Free Sample Copy @ https://www.omrglobal.com/request-sample/automotive-motors-market
Driven by rising environmental concerns and increasing government support, electric mobility is expanding at a rapid pace across the globe. Conventional mobility vehicles are mainly driven by internal combustion engines (ICE) due to which they burn more gas, petrol into carbon dioxide thereby negatively impacting the environment. Governments are banning the internal combustion engine vehicles following the increasing environmental issues. This gave rise to the advent of hybrid electric vehicles that use both ICE and electric motors to propel their wheels. Moreover, purely electric vehicles use one or more electric motors for their propulsion. Thus, the advent of electric vehicles in the global market is driving market growth over the forecast period.
A Full Report of Global Automotive Motors Market is Available at: https://www.omrglobal.com/industry-reports/automotive-motors-market
Market players and the governments are pushing the plan for rolling out EVs and hybrid vehicles on road. The government of various nations has set targets to increase EV fleet which is providing a significant opportunity to the market. For instance, Norway is planning to phase out conventional cars by 2025, followed by France and the UK in 2040 and 2035 respectively. Moreover, in October 2017, Germany’s Bundesrat passed a resolution to ban IC engine-based vehicles by 2030. Thus, this is likely to enhance the growth of the automotive motors market in the near future.
Market Coverage
Market number available for – 2019-2026
Base year- 2019
Forecast period- 2020-2026
Segment Covered- By Type, By Vehicle Type, By Distribution Channel
Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
Competitive Landscape- Continental AG, Johnson Electric Holdings Ltd., Mitsubishi Electric Corp., Robert Bosch GmbH, and Siemens AG
Global Automotive Motor Market – Segmentation
By Type
Brushless DC Motor & Stepper Motor
Brushed DC Motor
Others
By Vehicle Type
Passenger Vehicles
Commercial Vehicles
o Light Commercial Vehicles (LCVs)
o Heavy Commercial Vehicles (HCVs)
o Others (Buses & Coaches)
Electric Vehicles
o Battery Electric Vehicles (BEVs)
o Plug-in Electric Vehicles (PEVs)
o Hybrid Electric Vehicles (HEVs)
By Distribution Channel
OEM
Aftermarket
Global Automotive Motor Market – Segmentation by Region
North America
US
Canada
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/automotive-motors-market
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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