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Automotive Micro Motor Market to Record 4% CAGR Growth Through 2029 | Global Analysis Report
Automotive Micro Motor
Automotive Micro Motor Market Outlook: How is the Market Expected to Grow by 2025?
In the past few years, the market size of the automotive micro motor has experienced consistent growth. The projection indicates a rise from $2.93 billion in 2024 to $3 billion in 2025, with a compound annual growth rate (CAGR) of 2.3%. Factors such as fuel efficiency regulations, the need for improved vehicle features by consumers, global economic situations, and regulatory safety standards for vehicles have all contributed to the growth witnessed in the historic period.
Automotive Micro Motor Market Forecast: What Size Will It Reach By 2029?
Steady enlargement is foreseen for the automotive micro motor market in the upcoming years, with projections reaching $3.51 billion by 2029, boasting a compound annual growth rate of 4.0%. The expansion anticipated within the forecast period is associated with the increased acceptance of self-driving vehicles, a heightened emphasis on ecologically friendly transportation and sustainability, a move towards collective mobility services and the inclusion of micro motors in budding automotive markets. The significant tendencies expected within the forecast period encompass vehicle electrification, incorporation of connectivity and the Internet of Things in automobile systems, utilising lightweight materials for enhanced efficiency, usage of 3d printing in automotive production, and the integration of green energy sources in vehicular power systems.
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Which Key Market Drivers Will Shape Automotive Micro Motor Industry Trends in 2025-2029?
The growing need for luxury vehicles is predicted to fuel the expansion of the Automotive Micro Motor market. Automotive micro motors, which are essential to the functioning of components such as electric sunroofs, environmental purification systems, power antennas, and other sophisticated features, will likely see increased demand due to this spike in luxury car demand. For example, as per a CarExpert Pty Ltd report in April 2023, the Jaguar F-Pace SUV holds the top sales position for the brand in Australia, having sold 48 units in 2023. Moreover, Maserati managed to sell thirty-one Grecale SUVs in the same year. Volo's luxury SUV, the XC40, experienced a sales growth of 18.7% in 2023, selling a total of 1505 units. Hence, it is anticipated that the surge in luxury car demand will contribute to the growth of the automotive micro motors market.
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What Are the High-Growth 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
Which Global Trends Are Driving Automotive Micro Motor Market Expansion?
Leading companies in the automotive micro motor market are creating technology-driven products like magnet-free compact motors for enhanced thermal performance and reduced environmental impact. These mechanical devices, devoid of permanent magnets, use alternative techniques, such as electromagnetic or inductive principles, in order to enhance efficiency and reduce size, weight, and cost. For example, in September 2023, ZF Friedrichshafen AG, a Germany-based technological firm that provides advanced mobility products, introduced a magnet-free, compact electric motor. The distinct attribute of this motor is the integration of an inductive current transmission unit inside the rotor which makes an ultra-compact electric motor design feasible. It offers performance indicators on par with those of permanent magnet synchronous machines, currently the most common drive systems in electric cars. Main benefits include the absence of rare earth materials and magnets, better supply security, enhanced sustainability, and heightened efficiency.
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Who Are the Fastest-Growing Companies in the Automotive Micro Motor Industry?
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 Is the Regional Outlook for the Automotive Micro Motor Market by 2029?
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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