Automotive Micro Motors Market Growth Potential & Forecast, 2032
Automotive micro motors market is expected to witness more than 4% CAGR from 2023 to 2032. The relentless push towards sustainability has led to a spike in electric vehicle adoption, requiring compact and efficient micro motors to power various components such as power windows, mirrors, and HVAC systems.
Moreover, the rise of autonomous vehicles has
propelled the need for precise and reliable micro motors to support advanced
sensor systems and control mechanisms. According to the 2021 McKinsey consumer
survey, customers are willing to access autonomous drive features and pay for
them as well. The market is also benefiting from the growing trend of vehicle
electrification, with a substantial increase in the number of electric and
hybrid vehicles on the road.
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The
automotive micro motors market is classified based on power consumption, motor
type, application, and region.
The
3V-12V power consumption segment will generate massive revenues within the
market by 2032, as these motors help in enhancing energy efficiency, reducing
emissions, and extending the range of electric vehicles. A surge in R&D
activities in the low voltage segment is aimed at optimizing power consumption
while maintaining high performance. Manufacturers are investing in advanced
technologies to design micro motors that strike a balance between power and
efficiency, catering to the evolving needs of the automotive sector.
The
brushless DC segment is predicted to record strong demand over the forecast
period, as the automotive sector embraces electric propulsion systems. As
brushless DC motors offer advantages such as higher efficiency, lower
maintenance, and improved durability, the product adoption will increase. These
motors are increasingly being integrated into various automotive applications
like electric power steering, electric pumps, and electric compressors. As
automakers strive for cleaner and more efficient solutions, there will be a
rise in demand for brushless DC motors.
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Europe
automotive micro motors market is anticipated to record strong CAGR during 2023
and 2032 owing to the region's stringent emission standards, coupled with
government initiatives promoting electric mobility. The active R&D by
automotive manufacturers, along with focus among automakers to leverage this
opportunity to introduce micro motors into next-generation vehicles, is
contributing significantly to expanding the revenue scope of regional market.
Partial chapters of report table of contents
(TOC):
Chapter
1 Methodology & Scope
1.1 Market scope
& definition
1.2 Base
estimates & calculations
1.3 Forecast
calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid
sources
1.4.2.2 Public
sources
Chapter 2 Executive Summary
2.1 Automotive
micro motors market 3600 synopsis,
2018 - 2032
2.2 Business
trends
2.3 Regional
trends
2.4 Power
Consumption trends
2.5 Motor type
trends
2.6 Application
trends
Chapter 3 Automotive Micro Motors Market Industry
Insights
3.1 Impact of
COVID-19
3.2 Industry
ecosystem analysis
3.3 Vendor
matrix
3.4 Profit
margin analysis
3.5 Motor Type
& innovation landscape
3.6 Patent
analysis
3.7 Key news and
initiatives
3.7.1
Partnership/Collaboration
3.7.2
Merger/Acquisition
3.7.3 Investment
3.7.4 Product
launch & innovation
3.8 Regulatory
landscape
3.9 Impact
forces
3.9.1 Growth
drivers
3.9.1.1 Rising
demand for Advanced Driver Assistance Systems (ADAS)
3.9.1.2 Continuous
advancements of technologies
3.9.1.3 Rise in
development of connected vehicles with smart features and infotainment systems
3.9.1.4 Growing
focus on energy efficiency
3.9.2 Industry
pitfalls & challenges
3.9.2.1 Stringent
emission standards
3.9.2.2 Global
economic uncertainties
3.10 Growth
potential analysis
3.11 Porter’s
analysis
3.12 PESTEL
analysis
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