Press release
Automotive Motors Market Upcoming Demands & Growth Analysis 2017 - 2025
Additionally, the regenerative breaking which is used in automobiles, the traction motors are used in reverse action to covert the mechanical energy into electric energy which is stored in the battery system and can be used as per the requirement of the vehicle.
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Some of the prominent factors for the growth of the automotive motors market is the electrification of the automobiles and the enhancement of safety features, such as the ABS (Antilock Braking System) and electronic power control. Conversely the electric vehicles require less number of motors as compared to the conventional vehicles, which is estimated to be a threat for the growth of the automotive motors market in the near future.
The automotive motors are one of the prominent aftermarket components in the global automotive market as they have a good replacement rate and hence by sales channels the aftermarket segment is estimated to grow with a prominent pace over the forecast period in the global market.
The motors which are used for the applications such as electric power steering, HVAC system, side mirrors and power windows are in high demand in the global market. Additionally, owing to the aforementioned factor the demand for such motors in the global market is estimated to grow with an incremental rate in the coming years.
Whereas, performance motors which are used for the propulsion of the automobiles are expected to hold prominent market share in terms of value and volume during the forecast period in the global automotive motors market. This increasing growth of performance motors is directly proportional to the vehicle production across the globe and its demand is estimated to remain healthy in the global market.
The most prominent factors accelerating the growth of automotive motors in the global market include manufacturing, introduction of advanced technology and electrification of vehicles. New rules and regulations enforced by the governments and ruling authorities regarding the safety of the environment, encourage manufacturers to produce environment-friendly and efficient vehicles, which has subsequently resulted in an increase the demand for automotive motors in the global market. High cost of technology and fluctuating prices are acting as key restraints countering the growth of the global automotive motors market.
A decline in the number of vehicle production will downsize the global automobile motors market. Electrification of vehicles can also hamper the growth of the automotive motors market as electric vehicles require less number of motors as compared to combustible vehicles.
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