Automotive Motors Market to Grow a Value of $36.66 Billion by 2027- BorgWarner, Continental AG, Denso, Johnson Electric, Mitsuba, Mabuchi Motor, Nidec

There numerous applications, which incorporate a motor for its function such as windshield wipers, sun roof, HVAC blowers, power seats, ventilated seats, power windows, sliding doors, folding side mirrors, fuel pump, water pump, power steering, radiator fan, engine fan, steerable headlights, door locks, and more. Each successive model of a vehicle brings additional safety features, better intelligence, and more convenience, which lead to the increase in use of motors in vehicles. For instance, a typical modern car on American road might easily include at least a dozen to 40 or more electric motors. Therefore, such applications, which employ the use of electric motors, are opportunistic for the key players operating in the automotive motors market.

Autonomous vehicles, also known as self-driving vehicles, use artificial intelligence (AI) software, light detection & ranging (LiDAR), and RADAR sensing technology, which are further used to monitor a 60-meter range around the car and to form an active 3D map of the current environment, which is fueled by the use of electric motors.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭- https://www.alliedmarketresearch.com/automotive-motors-market/purchase-options

The global automotive motors market was valued at $28.72 billion in 2019, and is projected to reach $36.66 billion by 2027, registering a CAGR of 6.5% from 2020 to 2027.

High demand for safety and convenient features, rise in demand of electric vehicles, and strict safety regulations set by government drive the growth of the global automotive motors market. On the other hand, decrease in global vehicle production and surge in trend of shared mobility restrain the growth to some extent. Nevertheless, the concept of autonomous cars is anticipated to create lucrative opportunities in the near future.

The vehicle is designed to travel between destinations without a human operator. Moreover, a lot of gas is burned when driving at high speeds, braking, and re-accelerating excessively. Self-driving vehicles use less battery capacity and consume less gas, which result in less pollution. This adds benefits to make it suitable for the environment.

Introduction of smart cities, rise in demand for connected cars using Internet of Things (IoT), and reduction in traffic congestion are the factors that drive the market growth. In addition, development in the automotive sector, demand for luxury cars, and government regulations are expected to create numerous opportunities for the key players operating in the global automotive motors industry.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬- https://www.alliedmarketresearch.com/request-sample/6187

Based on geography, Asia-Pacific generated the major share in 2019, holding nearly three-fifths of the global automotive motors market. Simultaneously, the market across LAMEA would manifest the fastest CAGR of 8.9% from 2020 to 2027. The other two provinces covered in the report include Europe and North America.

The key market players analyzed in the global automotive motors market report include BorgWarner Inc., Continental AG, DENSO CORPORATION, Johnson Electric Holdings Limited, Mitsuba Corporation, MABUCHI MOTOR CO., LTD., Nidec Corporation, Robert Bosch GmbH, Siemens AG, VALEO, Inteva Products, LLC, Magna International Inc, Marelli Europe S.P.A., Aptiv PLC, Buhler Motor, Meritor, Inc., PST Electronics Ltd, and U-SHIN ltd. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

David Correa
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