Automotive Micro Motor Market 2023 Driving Factors Forecast Research 2029

Automotive micro motor market is anticipated to grow at a CAGR of 6.2% during the forecast period (2023-2030). The market's growth is attributed to rising demand and production of EV around the globe. The move to EVs is a significant driver for the automotive micro motor market. Small motors are used in electric automobiles for services such as power windows, windshield wipers, and electric power steering, among others. According to the International Energy Agency (IEA), in July 2022, vehicles with internal combustion accounted for more than 50.0% of total fuel consumption and 36.3 gigatons of carbon emissions. Whereas the EVs, which do not emit exhaust emissions while in service, are more environment friendly compared to traditional automobiles. Hence, there has been an increase in the production of EVs over the past few years. In 2021, sales of hybrid and other EVs globally totaled 6.8 million, representing a 108% increase from 2020.

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Furthermore, EV usage has been growing in recent years. This has increased the need for slow and fast chargers. Slow chargers are generally used for residential and work-related purposes, while fast chargers are used at public charging stations and for long-distance travel. The automotive micro motor market can be impacted by this increased demand for motors in both slow and fast chargers, such as those used for connector mechanisms and cooling systems. EV charging systems can be classified as slow or rapid chargers. Slow chargers use AC power from the grid and deliver 3-4 kW of power to the EV, taking 6-7 hours for a full charge. Fast chargers use DC power from a dedicated charging station and deliver 50 kW of power, charging the EV in less than 0.5 hours. Both AC and DC chargers can cause power quality issues, including voltage distortions and current harmonics.

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• Market Coverage
• Market number available for - 2023-2029
• Base year- 2022
• Forecast period- 2023-2029
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Market Segmentation
Global Automotive Micro Motor Market by Power Consumption
o Less than 11 V
o 12 V - 24 V
o 25 V - 48 V
o More than 48 V

Global Automotive Micro Motor Market by Motor Type
o Direct Current (DC)
o Alternating Current (AC)

Global Automotive Micro Motor Market by Technology Type
o Brushed Micromotor
o Brushless Micromotor

Global Automotive Micro Motor Market by End-User
o Industrial
o Automotive & Aerospace
o Healthcare
o Others (Government and Defense Agencies, Electric Vehicle (EV) and Hybrid Vehicle Manufacturers)

Regional Analysis
o North America
o United States
o Canada
o Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
o Rest of the World

Company Profiles
o ASMO Co. Ltd.
o Brose Fahrzeugteile SE & Co.
o Constar Micromotor Co., Ltd.
o DENSO Corp.
o Hitachi Astemo, Ltd.
o Johnson Electric Group
o LG Innotek Co., Ltd.
o MABUCHI MOTOR
o MAHLE GmbH
o maxon Group
o MITSUBA Corp.
o Nidec Corp.
o NSK Ltd.
o Panasonic Holdings Corp.
o Remy International
o Robert Bosch GmbH
o Siemens AG.
o VALEO

The Report Covers
• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global automotive micro motor market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies. Competitive strategies by identifying 'who-stands-where' in the market.

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