DUBLIN--(BUSINESS WIRE)--The "Automotive Motors - Global Market Outlook (2017-2023)" report has been added to Research and Markets' offering.
The Global Automotive Motors market is expected to grow from $27.15 billion in 2016 to reach $45.76 billion by 2023 with a CAGR of 7.7%.
Rising vehicle production across many developing countries, increasing need for electric vehicles, growing demand for advanced automation systems are some of the factors driving the market. In addition, varying costs of raw materials is hindering the market growth.
The demand for DC brushed motors is increasing rapidly and the growth of these motors is attributed to its low cost and easy usage. Hybrid Electric Vehicle (HEV) is one of the fastest growing segments due to the improvements in technologies consisting of automatic start/shuto off, regenerative brakes. Plug-in Hybrid Electric Vehicle (PHEV) has acquired the largest market share.
Asia Pacific is leading the automotive market and the factors contributing to the growth of this region are rising vehicle production, increasing volume of passenger cars among people in developing countries such as China and India. Advanced technologies with starto stop systems and anti-lock braking system (ABS) are fuelling the growth of automotive motors.
Some of the key players in global automotive motors market include:
- Borgwarner Inc
- Siemens AG
- Mahle Group
- Mitsuba Corporation
- Continental AG
- Valeo S.A
- Borgwarner Inc
- Robert Bosch GmbH
Johnson Electric Holdings Limited
Electric Vehicle Types Covered:
- Plug-in Hybrid Electric Vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
- Battery Electric Vehicle (BEV)
- Comfort Motors
- Safety Motors
- Performance Motors
Vehicle Types Covered:
- Light Commercial Vehicles
- Passenger Cars
- Heavy Commercial Vehicles
Product Types Covered:
- AC Motors
- DC Motors
- Stepper Motors
- DC Brushed Motors
DC Brushless Motors
For more information about this report visit https://www.researchandmarkets.com/research/hl287b/automotive_motors