Automotive Motors Market- Do you Want to Know In-Depth about New Trending Technology?
Passenger automobiles are segmented into four product types, namely – Running gear (turbans), Drive shafts (rear- drive trucks), Hormaceuticals/bacterial agents, and Hybrid electric vehicle (HEV). Automotive motors market is further segregated into product type based on applications. Safety motor sub-segment is likely to enjoy the largest market share within the forecast period due to rising awareness about enhanced safety features. However, automotive motors market is witnessing fast growth even in the current economic scenario.
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India is witnessing significant growth in the automotive motors market in the wake of robust economic growth, rapid urbanization and rising middle class. With an ever-expanding middle class, there is a growing demand for sophisticated vehicles like hybrid electric vehicles in addition to more fuel efficient conventional passenger automobiles. As per recent market research, India is anticipated to develop a niche for itself in the automotive motors market. Nowadays, there is a shift towards imported vehicles that consume more fuel, which in turn depletes the domestic resources.
It is worth highlighting that in India, manufacturers of both passenger automobiles and commercial vehicles are increasingly adopting new advanced technology for improved productivity and cutting down on cost. It is therefore expected that in the near future, the automotive-motorport segment in India automotive motors market would witness the entry of more advanced and technologically sophisticated domestic as well as foreign technologies. The emerging emergence of plug-in hybrid electric vehicles (PHEVs) and high profile car manufacturers like Maruti Suzuki, and Mahindra & Mahindra have contributed to the surge in electric vehicle (EV) demand in India.
Africa too has emerged as one of the fastest growing automotive motors markets. In this respect, Africa has a lot to offer for both domestic and international automobiles demand. In terms of size, Africa’s automotive markets continue to grow at a very high rate. The increasing levels of population in the continent as well as better infrastructure have led to better utilization of available land and therefore improving the profit margins for manufacturers. Africa is emerging as one of the major growth areas for the coming years in the automotive motors market report.
Frequently Asked Questions (FAQ) :
Is Automotive Motors Market Booming In Near Future?
Yes, The global automotive motors market is estimated to exhibit a CAGR of 6.4% over the forecast period.
Which are the prominent Automotive Motors Market players across the globe? Can I Add a Specific Company?
Yes, You can add Specific Companies up to 3 Companies.
ompanies Covered as part of this study include Siemens AG, Robert Bosch GmbH, Continental AG, Denso Corporation, Magna International, Mitsubishi Electric Corporation, Valeo S.A., Mahle Group, Nidec Corporation, and Borgwarner Inc.,
Can I Ask For Discount / Promo-Code?
Yes, You Can Get Upto a 30% discount directly via the below link..!!
Which Geographic Segmentation Covered In The Market Report?
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