Automotive Motors Market analysis of global trends, demand and competition 2019-2027

1. Automotive Motors Market analysis of global trends, demand and competition 2019-2027 Market Overview Motors are an integral part of vehicle components such as seat cooling fans, engine cooling fans, power steering motors, battery cooling fans, and power window motors. Growing consumer inclination towards such advanced features in vehicles, is creating a conducive environment for growth of the automotive motor market. Moreover, increasing sales volume of vehicles is expected to augment the market growth. According to Organisation Internationale des Constructeurs d'Automobiles, in 2018, the production of passenger cars was around 75 % of the total vehicle production worldwide. Furthermore, growing adoption of electric vehicles is expected to drive growth of the automotive motor market. In emerging economics such as India and China, electric vehicles are steadily becoming popular as an alternative to conventional gasoline-powered vehicles, owing to the former’s fuel-efficient and low- carbon emission properties. The performance of an electric car depends majorly on its motors and battery. Presently, brushed DC motor, brushless DC motor, AC induction motor, permanent magnet synchronous motor (PMSM), and switched reluctance motor (SRM) are the types of motors used for electric vehicles. These motors convert electric energy into mechanical energy (or vice versa) for propulsion of the vehicle, to enable regenerative braking or for charging batteries. Furthermore, increasing demand for electric vehicles globally is expected to positively affect the automotive motor market growth over the forecast period. For instance, in 2013, the government of India launched National Electric Mobility Mission Plan 2020 through which, the government plans to introduce 5-6 million electric and hybrid electric vehicles in the country by 2020. Request Sample Copy Of This Business Report: https://www.coherentmarketinsights.com/insight/request-sample/1093 Market Dynamics The recent past has witnessed rising adoption of electric vehicles as they are an eco-friendly option, are cost effective. Such vehicles integrate a higher number of automotive motors and thus, growing demand for such motors is expected to fuel growth of the automotive motors market. According to the International Energy Agency (IEA) report In the Paris Agreement, it was stated that 600 million electric vehicles will be on roads by 2040, which will in aid in bringing global warming to below 2°C”. Furthermore, in 2018, the global electric vehicles sales exceeded 5.1 million, which was an increase of 2 million from 2017, and double the number of new electric car sales compared to 2017. In 2018, the hybrid electric vehicles segment held the dominant position in the market, and is projected to retain its dominance throughout the forecast period. High sales of hybrid electric vehicle are one of the major factors driving growth of the market. According to Coherent Market Insights, in 2018, global sales of plug-in vehicle reached 2.1 million units, which is around 64% higher than the sales in 2017. These include all battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV) passenger cars sales, light trucks in U.S. and Canada, and light commercial vehicles in Europe and China. Get Request Customization Copy Of This Business Report: https://www.coherentmarketinsights.com/insight/request-customization/1093

2. Key companies covered as a part of this study include Siemens AG, Robert Bosch GmbH, Continental AG, Denso Corporation, Magna International, Mitsubishi Electric Corporation, Valeo S.A., Mahle Group, Nidec Corporation, and Borgwarner Inc. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Name: Mr. Raj Shah Phone: US +12067016702 / UK +4402081334027 Email: sales@coherentmarketinsights.com Visit Our Blogs: https://blog.coherentmarketinsights.com