Press release
Automotive Micro Motor Market Anticipated To Witness Robust Growth, Surpassing $3.63 Billion By 2029
Automotive Micro Motor
What Is the Current Automotive Micro Motor Market Size and Its Estimated Growth Rate?
The market size of the automotive micro motor sector has been witnessing consistent growth in the past years. It is predicted to escalate from $2.93 billion in 2024 to a larger $3.04 billion in 2025, registering a compound annual growth rate (CAGR) of 3.7%. The historic development has been primarily driven by factors such as regulations surrounding fuel efficiency, increased consumer preference for superior vehicle functionalities, global economic scenarios, and mandatory safety standards for vehicles.
In the forthcoming years, the automotive micro motor market is projected to witness consistent expansion, eventually reaching a value of $3.63 billion in 2029 with a CAGR of 4.5%. This predicted growth during the forecast period can be ascribed to factors such as the rising endorsement of autonomous vehicles, enhanced focus on eco-friendly transportation and sustainability, the pivot towards shared mobility services, and the inclusion of micro motors in burgeoning automotive markets. Some of the major predicted trends during the forecast period include vehicle electrification, the incorporation of IoT and connectivity in automotive systems, the usage of lightweight materials for better efficiency, the employment of 3d printing in automotive manufacture, and the integration of renewable energy sources into vehicle power systems.
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How Are Emerging Segments Shaping the Automotive Micro Motor Market Landscape?
The automotive micro motor market covered in this report is segmented -
1) By Type: AC Micro Motor, DC Micro Motor
2) By Power Consumption: 48V, 25V-48V, 12V-24V, Less than 11V
3) By Technology: Brushed, Brushless
4) By Application: Passenger Vehicle, Commercial Vehicle
Subsegments:
1) By AC Micro Motor: Induction AC Micro Motors, Synchronous AC Micro Motors, Stepper AC Micro Motors
2) By DC Micro Motor: Brushed DC Micro Motors, Brushless DC Micro Motors, Coreless DC Micro Motors
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Which Growth Factors Are Influencing Automotive Micro Motor Market Expansion?
The surge in demand for high-end cars is anticipated to stimulate the expansion of the automotive micro motor market. These micro motors play a crucial role in the functionality of aspects such as electric sunroofs, purification systems, power antennas, and other sophisticated features. The escalating desire for luxury cars is presumed to amplify the demand for micro motors. For instance, a report issued by CarExpert Pty Ltd, an Australian automotive publishing company, in April 2023 highlighted that Jaguar's F-Pace SUV emerged as the company's most sold vehicle in Australia, registering 48 sales in 2023. In the same year, Maserati managed to sell thirty-one units of its Grecale SUV. Volvo's XC40 luxury SUV experienced a sales hike of 18.7% in 2023, selling a total of 1505 units. Consequently, it is expected that the growing preference for luxury cars will catalyze the growth of the automotive micro motors market.
Who Are the Dominant Players Across Different Automotive Micro Motor Market Segments?
Major companies operating in the automotive micro motor market include Asea Brown Boveri Ltd., Buhler Motor Gmbh, Constar Micro Motor Co. Ltd., Johnson Electric, Nidec Corporation, Robert Bosch GmbH, Denso Corporation, Mabuchi Motors Co. Ltd., Asmo Co. Ltd., Brose Ltd., Mahle GmbH, Panasonic Corporation, Shihlin Electric and Engineering Corporation, IFB Automotive Private Ltd., Maxon Motor GmbH, Mitsuba Corporation, Valeo Group, Continental AG, Siemens AG, BorgWarner Inc., AMETEK Inc., Hitachi Automotive Systems Ltd., Toshiba Corporation, Delphi Technologies, Magna International Inc., Prestolite Electric Inc., Ford Electric Company, Mitsubishi Electric Corporation, Sumitomo Electric Industries Ltd., Micromo Electronics Inc.
What Are the Latest Developing Trends in the Automotive Micro Motor Market?
Leading entities in the automotive micro motor market are pioneering technologically progressive products like magnet-free compact motors to augment thermal efficiency and minimize environmental ramifications. These motor variants discard the use of permanent magnets, and instead employ substitute methodologies like electromagnetic or inductive principles to attain impressive efficiency and a small form factor - often leading to weight and cost reductions. For example, ZF Friedrichshafen AG, a tech firm based in Germany that provides advanced mobility solutions, unveiled a magnet-free compact electric motor in September 2023. This motor stands out thanks to its integrated inductive current transmission unit within the rotor, which results in an exceptionally compact electric motor structure. The performance it offers is on par with that of permanent magnet synchronous machines - the most common drive systems in modern electric vehicles. Primary benefits comprise of the elimination of magnets and scarce earth elements, which boosts supply reliability, and amplifies sustainability and efficiency.
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Which Geographic Regions Are Expected to Dominate the Automotive Micro Motor Market in the Coming Years?
Asia-Pacific was the largest region in the automotive micro motor market in 2024. The regions covered in the automotive micro motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Micro Motor Market?
2. What is the CAGR expected in the Automotive Micro Motor Market?
3. What Are the Key Innovations Transforming the Automotive Micro Motor Industry?
4. Which Region Is Leading the Automotive Micro Motor Market?
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