Press release
Key Trends Reshaping the Automotive Micro Motor Market: Advancements In Electric Motor Technology Industry Transformation
Automotive Micro Motor Market Growth
Automotive Micro Motor Market Size Growth Forecast: What to Expect by 2025?
In recent times, the market size of automotive micro motors has seen consistent growth. The market, which is valued at $2.93 billion in 2024, is projected to increase to $3.04 billion by 2025, indicating a compound annual growth rate (CAGR) of 3.7%. Several factors can be associated with the growth observed during the historic period, including regulations on fuel efficiency, customer desire for improved vehicle functionalities, worldwide economic situations, and safety standards for vehicles regulated by authorities.
How Will the Automotive Micro Motor Market Size Evolve and Grow by 2029?
There is an anticipatory steady growth in the automotive micro motor market, where it's predicted to rise up to $3.63 billion by the year 2029 at a CAGR of 4.5%. The expansion during the forecast period can be credited to the rising acceptance of autonomous vehicles along with the amplified emphasis on sustainable, environmentally friendly transportation. Additionally, the progression towards shared mobility services and the incorporation of micro motors into burgeoning automotive markets also contribute to this growth. Within this period, significant trends to watch include the electrification of vehicles, the integration of IoT and connectivity in automotive systems, the use of lightweight materials for enhanced efficiency, the implementation of 3D printing in automotive manufacturing, and the incorporation of renewable energy sources into vehicle power systems.
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What Drivers Are Propelling the Growth of Automotive Micro Motor Market Forward?
The surge in desire for luxury vehicles is anticipated to catalyze the expansion of the automotive micro motor market. These micro motors play an integral role in the systems allowing the functionality of features like electric sunroofs, environmental cleansing, power antennae, and other sophisticated aspects. As the craving for luxury cars intensifies, the requirement for micro motors is also predicted to surge. For instance, a report by an Australian automotive publishing company, CarExpert Pty Ltd, issued in April 2023 stated that Jaguar F-Pace SUV was the top-selling model of the brand in Australia, boasting 48 sales in 2023 so far. Furthermore, Maserati managed to sell thirty-one of their Grecale SUVs in the same year. Additionally, there was an 18.7% hike in the sales of Volvo's XC40 luxury SUV in 2023, recording a sale of 1505 units. Therefore, the escalated need for luxury vehicles is speculated to fuel the growth of the automotive micro motors market.
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Which Emerging Trends Are Transforming the Automotive Micro Motor Market in 2025?
Leading companies in the automotive micro motor market are pushing boundaries in technology with innovations like magnet-free compact motors. These advancements enhance thermal operations and significantly lessen environmental harm. Magnetic-free compact motors are designed without the use of permanent magnets, instead leveraging electromagnetic or inductive principles for optimal efficiency and compact dimensions, typically resulting in a decrease in both weight and cost. For instance, in September 2023, ZF Friedrichshafen AG, a German technology firm that provides superior mobility products, unveiled its magnet-free compact electric motor. The standout feature of this motor is its integrated inductive current transmission unit within the rotor, which enables a super-compact electric motor design. It matches the performance levels of traditional permanent magnet synchronous machines, currently the most common drive systems in electric vehicles. The motor's attractions include compatibility, the lack of magnets and rare earth materials which increase supply availability, and boosts in sustainability and efficiency.
What Are the Key Segments in the Automotive Micro Motor Market?
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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Who Are the Key Players Shaping the Automotive Micro Motor Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in the Automotive Micro Motor Market?
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
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