Automotive Motors Market Opportunities and Challenges in 2019 to 2028
New York City, NY: September 23, 2019 – Published via (Wired Release) – MarketResearch.biz delivers in-depth insights on the global automotive motors market in its upcoming report titled, “Global Automotive Motors Market Trends, Applications, Analysis, Growth, and Forecast to 2027”. The global automotive motors market is estimated to register a CAGR of X.X% in terms of value during the forecast period 2018 to 2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global automotive motors market has been segmented on the basis of product type, application, vehicle type, traction motor, and region.
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This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
An automotive motor is a machine that converts electrical energy into the mechanical energy which is provided by battery or engine unit. Automotive motors are electrical systems that are integrated in various automotive components such as airbags, anti-lock braking system or anti-skid braking system, and power windows. These components help to enhance the performance of the vehicle coupled with the safety. Most automotive motors function through interaction between the winding current and the motor’s magnetic field.
Growing adoption of electric vehicles as they are integrated with automotive motors at the time of manufacturing, owing to various advantages such as eco-friendliness, lesser noise pollution, and cost-effectiveness is a key factor driving the growth of the target market over the forecast period. In addition, rising demand for performance motors which are used for the propulsion of the automobiles is another factor expected to fuel the growth of the target market over the forecast period. Furthermore, increasing adoption of automotive motors, owing to advancements in technology coupled with the electrification of vehicles are other factors expected to fuel growth of the global automotive motors market over the forecast period.
However, high costs of recently launched automotive motors is a major factor expected to limit growth of the global automotive motors market over the forecast period. Also, fluctuating prices of automotive motors is another factor expected to hamper growth of the target market in the near future.
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The market in in Asia-Pacific accounts for highest market share in the global automotive motors market in terms of revenue. This can be attributed to increasing automotive sector, especially in India, China, and Japan in the region. Increasing consumer preference for start-stop systems, anti-lock bricking systems (ABS), and other automotive technologies have also accelerated growth of the automotive motors market in Asia Pacific.
Global automotive motors market segmentation:
By product type:
DC Brushed Motors
DC Brushless Motors
By vehicle type:
Light Commercial Vehicles
Heavy Commercial Vehicles
By traction motor:
Middle East & Africa