The global automotive motors market size was valued at $31.01 billion in 2018, and is projected to reach $49.20 billion by 2026, registering a CAGR of 5% from 2019 to 2025.
The automotive motor market is positively influenced by government-enforced safety regulations for the installation of power windows, airbags and Anti-Lock Braking System (ABS) on all vehicles. Europe and North America have been shown to comply with these regulations more strictly compared to Asia Pacific and elsewhere.
In developing countries, OEMs are providing keyless entry and anti-lock braking systems (ABS) as standard features for vehicles, helping governments improve safety measures to increase sales of automotive motors. These safety systems require a separate motor to operate smoothly and communicate with other components of the vehicle to provide complete safety for passengers. Therefore, the demand for automotive motors is expected to increase as the integration of safety functions becomes mandatory, which will drive the growth of the automotive motor market.
Automotive Motor Market Segmentation:
By Product-Type
• Stepper Motors
• DC Brushless Motors
• DC Brushed Motors
By Vehicle-Type
• Heavy Commercial Vehicles
• Light Commercial Vehicles
• Passenger Cars
• Electric Vehicle
By Application
• Comfort Motors
• Performance Motors
• Safety Motors
A full report of Automotive Motor Market is available at: https://www.orionmarketreports.com/automotive-motor-market/37565/
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
