Automotive Electric Motors Market Trends, Sector Overview and Forecast to 2028

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Published: March 29, 2024 Report Code: GDAUS160324-ST

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Automotive Electric Motors Market Report Overview

The automotive electric motors market size was 958.3 million units in 2023. The market will grow at a CAGR of more than 15% during 2023-2028. The anticipated surge in electric vehicles in the future will lead to a corresponding increase in demand for electric motors.  In 2023, Asia-Pacific accounted for a significant share of the electric motors market.

Automotive Electric Motors Market Outlook, 2023-2028 (Million Units)

Automotive Electric Motors Market Outlook, 2023-2028 (Million Units)

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The automotive electric motors market report provides a comprehensive overview of the market trends and drivers. The automotive electric motors market report also provides a detailed overview of technological developments and innovations, PESTER analysis, and leading component suppliers at a global and regional level. Furthermore, it helps evaluate strategic initiatives by market players and their recent product innovations. The report also provides an overview of patent filings across regions; countries; and top applicants.

Market Size (2023) 958.3 million units
CAGR (2023-2028) >15%
Key Regions Asia-Pacific, Europe, North America, South America, and MEA
Leading Players Denso, Webasto, Aisin, CIE Automotive (Inc Inteva Products), and Valeo
Key Sectors Power Windows, Wiper Motors, OE Actuator Mirror Motors, Seat Motors, and Others
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Automotive Electric Motors Market Drivers

The key factors driving the automotive electric motors industry are the growing consumer preference for the convenience of automated features and the increasing adoption of electric vehicles.

Growing Interest in Electric Vehicles: The anticipated surge in electric vehicles in the future will lead to a corresponding increase in demand for electric motors, given their pivotal role in electric vehicles. Governments worldwide are implementing stringent emission standards to reduce greenhouse gas emissions and mitigate the factors contributing to climate change. Additionally, heightened consumer awareness regarding the environment is driving the rapid global increase in electric vehicles.

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Automotive Electric Motors Market Segmentation by Regions

In 2023, Asia-Pacific accounted for the highest share among all the regions

The key regions in the automotive electric motors market are Asia-Pacific, Europe, North America, South America, and MEA. China has been driving the growth in APAC and holds a significant market share in the region. Furthermore, consumer inclination towards luxurious cars such as SUVs and increasing adoption of electric vehicles in the region are also contributing to the expansion of the automotive electric motors market in the Asia Pacific region.

Automotive Electric Motors Market Analysis by Regions, 2023 (%)

Automotive Electric Motors Market Analysis by Regions, 2023 (%)

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Automotive Electric Motors Market - Competitive Landscape

A few of the top companies operating in the automotive electric motors market are:

  • Denso
  • Webasto
  • Aisin
  • CIE Automotive (Inc Inteva Products)
  • Valeo
  • Others

Denso: Denso’s recently introduced Electric Power Steering Motor Control Unit (EPS-MCU), known as DDA2 (DENSO Dual Assist 2nd Generation), operates by concurrently managing two drive circuits and motor windings. In September 2023, during a public appearance in Europe as the President and COO of DENSO, Shinnosuke Hayashi unveiled that, DENSO aims to invest a significant amount in research and development over the next ten years, reflecting its commitment to realizing zero emissions and zero traffic fatalities in the realm of mobility and society.

Automotive Electric Motors Market Analysis by Companies

Automotive Electric Motors Market Analysis by Companies

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Automotive Electric Motors Market Segmentation by Sectors

Power Windows garnered the largest market share in 2023

The primary sectors in the automotive electric motors market are power windows, wiper motors, OE actuator mirror motors, seat motors, and others.

Electric Motors Market Sectors

Electric Motors Market Sectors

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Automotive Electric Motors Market – Latest Developments

A few of the latest developments in the automotive electric motors market are as follows:

  • On 2nd November 2023, BorgWarner secured a deal with a prominent North American Original Equipment Manufacturer (OEM) to provide its bi-directional 800V Onboard Charger (OBC) for the OEM’s high-end passenger electric vehicle (EV) platforms.
  • On 16th Dec, 2023 Comau supplied automation equipment for the production of Nio’s new electric drive systems. The system enables co-line production for both induction and permanent magnet motors, encompassing essential processes such as e-motor assembly, gearbox manufacturing, inverter assembly, and end-of-line testing.

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Segments Covered in the Report

Automotive Electric Motors Sector Outlook (Value, Million Units, 2018-2028)

  • Power Windows
  • Wiper Motors
  • OE Actuator Mirror Motors
  • Seat Motors

Automotive Electric Motors Regional Outlook (Value, Million Units, 2018-2028)

  • Asia-Pacific
  • Europe
  • North America
  • South America
  • MEA

Scope

This report brings together multiple data sources to provide a comprehensive overview of the global Electric Motors sector. It includes an analysis of the following: ​

  • Trends & Drivers: Provides an overview of the current sector scenario regarding the future outlook in terms of key trends and drivers of the sector. ​

  • Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.​

  • PESTER Analysis: Provides a detailed understanding of various factors such as political, economic, social, technological, environmental, and regulatory impacting the sector.​

  • Sector Forecast: Provides deep-dive analysis of the global market covering volume growth during 2018–2028, and spot estimates for 2030 and 2036. The analysis also covers a regional overview across four regions-Asia-Pacific, Europe, MEA, North America, and South America -highlighting sector size, and growth drivers for the region.​

  • Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the recent product innovations and key strategic initiatives taken by the companies.​

  • Patent Analysis: Provides an overview of patent filings in the sector across regions, countries, and top applicants.​

Reasons to Buy

  • Auto OEMs and component suppliers seek the latest information on how the market is evolving to formulate their sales and marketing strategies. There is also a demand for authentic market data with a high level of detail.

  • This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector in the region.

  • The report provides a detailed analysis of the regions and competitive landscape that can help companies gain insight into the region-specific nuances. The analysts have also placed a significant emphasis on the key trends that drive customer choice and the future opportunities that can be explored in the region, which can help companies in revenue expansion.

  • To gain competitive intelligence about leading component suppliers in the sector in the region with information about their market share and growth rates.

Table of Contents

  • 1. Executive Summary

  • 2. Part 1: Main Trends and Drivers

    • 2.1. Trends

    • 2.2. Drivers

  • 3. Part 2: Technologies and Developments

  • 4. Part 3: PESTER Analysis

  • 5. Part 4: Sector Forecast

    • 5.1. Sector Forecast – Global Electric Motors Volumes

    • 5.2. Active Grille Shutters and Brushless HVAC – Global Volumes

    • 5.3. Electric Parking Brake and OE Actuator Mirror Motors – Global Volumes

    • 5.4. Power Fold Mirrors and Power Sunroofs – Global Volumes

    • 5.5. Power Windows and Seat Motors – Global Volumes

    • 5.6. Steering Motors and Wiper Motors – Global Volumes

    • 5.7. Asia-Pacific Market Growth Analysis

    • 5.8. European Market Growth Analysis

    • 5.9. North American Market Growth Analysis

    • 5.10. South America Market Growth Analysis

    • 5.11. MEA Market Growth Analysis

  • 6. Part 5: Latest Developments

  • 7. Part 6: Key Companies

    • 7.1. Top Companies by Market Share – Wiper Systems

    • 7.2. Top Companies by Market Share – Sunroofs

  • 8. Part 7: Patent Analysis

  • 9. Part 8: Appendix

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