LONDON--(BUSINESS WIRE)--The automotive power window motor market is expected to grow by USD 518.04 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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The growing consumer demand for safety and convenience has led to the introduction of various advanced automobile safety systems. Also, convenience features such as power windows which were only seen in premium vehicles are now provided in mid-level and entry-level vehicles. Furthermore, the penetration of power window systems is gaining traction in the commercial vehicle segment as well. All these factors fueling the growth of the global automotive power window motor market.
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As per Technavio, the increasing electrification in vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Automotive Power Window Motor Market: Increasing Electrification in Vehicles
The growing focus on enhancing safety, performance, stability, and comfort has increased the use of electrical components in automobiles. Hence, most of the vehicles today feature electric steering, actuators, electric power windows, and infotainment systems as standard fitments. Besides, government regulations and technological advancements in the automobile industry have further led to the increased use of these features in entry-level and hybrid cars. Therefore, the increasing electrification in vehicles is expected to have a positive influence on the growth of the global power window motor market during the forecast period.
“The increasing adoption of anti-pinch technology in power window system and production shift to low-cost countries will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Automotive Power Window Motor Market: Segmentation Analysis
This market research report segments the automotive power window motor market by Application (Passenger cars and Commercial vehicles) and Geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the automotive power window motor market in 2020, followed by North America, Europe, South America, and MEA respectively. During the forecast period, APAC is expected to register the highest incremental growth due to enhanced vehicle safety standards in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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