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Automotive Micro Motor Market Report 2023 : By CAGR, Industry Growth, Competition Analysis
Automotive Micro Motor Market
The Business Research Company's Automotive Micro Motor Global Market Report 2023 identifies increasing demand as the major driver for the Automotive Micro Motor market's growth in the forecast period. Automotive micro motors serve a critical role in the system that allows components such as electric sunroofs, environmental purification, power antennae and other advanced features to operate. The growing demand for luxury cars is expected to increase demand for micro motors.
The global automotive micro motor market size grew from $2.74 billion in 2022 to $2.9 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive micro motor market size is expected to grow to $3.57 billion in 2027 at a CAGR of 5.3%.
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Major competitors in the Automotive Micro Motor market are ABB, Buhler Motor Gmbh, Constart Micro Motor, Johnson Electric, Nidec Corporation, Robert Bosch, Denso, Mabuchi Motors, Asmo, Brose.
A key trend in the Automotive Micro Motor market includes strategic collaborations between companies. Companies manufacturing micro motors are undergoing partnerships and collaboration to develop new technologies and products. For instance, in June 2021, Local Motors, a manufacturer of autonomous vehicles announced a strategic partnership with protean electric to accelerate development of automotive micro motors and electric autonomous vehicles.
Read More On The Global Automotive Micro Motor Market Report Here:
https://www.thebusinessresearchcompany.com/report/automotive-micro-motor-global-market-report
The Automotive Micro Motor market is segmented -
• By Type: AC Micro Motor, DC Micro Motor
• By Power Consumption: 48V, 25V-48V, 12V-24V, Less than 11V
• By Technology: Brushed, Brushless
• By Application: Passenger Vehicle, Commercial Vehicle
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Automotive Micro Motor market.
The Business Research Company's "Global Automotive Micro Motor Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Micro Motor Market Include:
1. Executive Summary
2. Automotive Micro Motor Market Characteristics
3. Automotive Micro Motor Market Trends And Strategies
4. Automotive Micro Motor Market - Macro Economic Scenario
5. Automotive Micro Motor Market Size And Growth
………………………………………………………..
26. Africa Automotive Micro Motor Market
27. Automotive Micro Motor Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Micro Motor Market
29. Automotive Micro Motor Market Future Outlook and Potential Analysis
30. Appendix
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