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

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

Comments

Post a Comment

Popular posts from this blog

Global Shrimp Market Business Segmentation By Revenue And Structure Forecast 2027

Image
Market Overview Shrimps are classified as decapod crustaceans that play important roles in the food chain and are an important food source for larger animals ranging from fish to whales. Humans consume the muscular tails of several shrimp that are widely caught and farmed for consumption. Around 20% 0f the species are commercially significant that include Whiteleg, giant tiger prawn, akiami paste shrimp, southern rough shrimp, and others. Based on their categorization of presentation, grading, colour, and uniformity, most shrimp are sold frozen and marketed for high levels of omega-3 fatty acids and low levels of mercury along with proteins, vitamin A and B6, B12, C and E, thiamin, riboflavin, niacin, phosphorous, copper, choline, iodine, and astaxanthin. Furthermore, it has anti-inflammatory, anti-ageing, and anti-cancer properties. Chitosan from shrimp shells has a range of application in pharmaceuticals, agrochemicals, cosmetics, and in water treatments. Pigments such as carotenoids
Read more

PET Preforms Market Growth Factors, Business Developments, Segmentation and Technologies 2018-2026

Image
Market Overvciew Polyethylene terephthalate  (PET) preforms are the unfinished products made by injection molding of polyethylene terephthalate, which is the most common thermoplastic polyester.  PET is strong, stiff, hard, and dimensionally stable material. It is resistant to water, gas, and all the chemicals except alkalis. PET is colorless and highly transparent. Food and beverages industries are continuously replacing glass and other metals bottle with PET bottles. PET products have various properties such as light weight, long shelf life, and are easy to handle, owing to these advantages PET products are widely used in packaged food and beverages industries. PET products are widely used in healthcare and cosmetics industries, due to the innovations in packaging industry. Increasing demand for pack weight reduction, the rise in consumption of carbonated soft drink, and new product developments are some of the major drivers for the growth of PET preform market. Stringent government
Read more

Bioethanol Market Industry Analysis, Share, Growth, Sales, Trends, Supply, Forecast 2026

Image
Market Overview Bioethanolis renewable and eco-friendly fuel majorly produced by fermentation of sugar. Energy crops are major source of sugar, which are used for production of bioethanol. The process involved in production of bioethanol include fermentation, distillation, rectification, and dehydration. The emissions due to burning of ethanol are less volatile as compared to those produced by combustion of gasoline, which is propelling demand for manufacturing of bioethanol, in turn fueling growth of the market. However, large amount of carbon dioxide is released during manufacturing of bioethanol, which is harmful to environment, this in turn is expected to hamper growth of the market over the forecast period. Increasing demand for ecofriendly vehicles and the renewable nature of bioethanol are major factors driving growth of the bioethanol market. However, high cost associated with production of bioethanol and maintenance of manufacturing unit is restraining growth of the market. Re
Read more