The US automotive motors market is projected to grow at a significant CAGR of 7.2% during the forecast period. The key factors that drive the US automotive motors market include the increased preferences towards the adoption of electric vehicles in order to overcome issues such as oil dependence, global warming, and environmental pollution. Besides, the rising government initiatives and subsidies to promote the manufacturing and adoption of electric vehicles also supports the growth of the market over the forecast period. Thus, due to the higher performance, low maintenance, fast speed, and rapid response, the electric car manufacturers are preferring advanced automotive motors in their vehicles, thereby, driving the growth of the market.
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The US automotive motors market has been segmented by type, vehicle type, and distribution channel. By type, the market is segmented as brushless dc motor & stepper motor, brushed dc motor, ac induction motor, and others. On the basis of vehicle type, the market is divided into passenger vehicles, commercial vehicles, and electric vehicles. Passenger vehicle is expected to maintain a substantial market share during the forecast period. Commercial vehicles segment is sub-segmented into light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and others. Whereas, the electric vehicles segment is further segmented into battery electric vehicles (BEVs), plug-in electric vehicles (PEVs), and hybrid electric vehicles (HEVs). Based on the distribution channel, the market is segmented as OEM and aftermarket.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
US Automotive Motor Market – Segmentation
By Type
- Brushless DC Motor & Stepper Motor
- Brushed DC Motor
- Others
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
o Light Commercial Vehicles (LCVs)
o Heavy Commercial Vehicles (HCVs)
o Others (Buses & Coaches)
- Electric Vehicles
o Battery Electric Vehicles (BEVs)
o Plug-in Electric Vehicles (PEVs)
o Hybrid Electric Vehicles (HEVs)
By Distribution Channel
- OEM
- Aftermarket
The Report covers:
- Comprehensive research methodology of the US automotive motors market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the US automotive motors market.
- Insights about market determinants which are stimulating the US automotive motors market.
- Detailed and extensive market segments with regional distribution of forecast revenues.
- Extensive profiles and recent developments of the market players.
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