PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1270359
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1270359
Automotive Throttle Motor Market size was valued at USD 900.8 Million in 2022, expanding at a CAGR of 7.1% from 2023 to 2030.
An automotive throttle motor is an electric motor used in the throttle control system of a vehicle. The throttle motor is responsible for controlling the opening and closing of the throttle valve in the engine intake manifold. Most modern vehicles use an electronic throttle control (ETC) system that relies on a throttle motor rather than a traditional mechanical linkage between the accelerator pedal and the throttle valve.
Automotive Throttle Motor Market- Market Dynamics
The market is anticipated to grow over the forecast period due to factors such rising fuel efficiency concerns and rising demand for electric vehicles. Automotive manufacturers are constantly looking for ways to improve fuel efficiency in their vehicles. Throttle motors play a crucial role in this by enabling precise control of the amount of air that enters the engine, which in turn helps optimize fuel consumption. As the world shifts towards more sustainable transportation solutions, the demand for electric vehicles (EVs) is on the rise. EVs rely heavily on throttle motors to regulate power delivery and control vehicle speed.
Furthermore, throttle motor manufacturers are investing heavily in R&D to develop more efficient and reliable motors. This has led to the development of new technologies such as brushless DC motors and improved motor control algorithms. Moreover, governments around the world are imposing increasingly stringent emissions regulations on automotive manufacturers. Throttle motors help to reduce emissions by enabling more precise control over engine combustion. Throttle motors are an integral part of many ADAS features such as adaptive cruise control, lane departure warning, and automatic emergency braking. The growing demand for these features is driving the demand for throttle motors in the automotive industry. Thus, increasing demand for ADAS is expected to bolster the market growth.
The Global Automotive Throttle Motor Market is segmented on the basis of Product, Vehicle Type, Distribution Channel, and Region.
The market is divided into two categories based on Product: AC motor and DC motor. DC motor segment dominates the market. The increasing demand for DC motor-based products is contributing to segment growth.
The market is divided into two categories based on Vehicle Type: passenger and commercial. The passenger segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increase in the demand for passenger vehicles such as SUVs, cars, and other vehicles.
The market is divided into two categories based on Distribution Channel: OEM and aftermarket. The OEM segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increasing demand for automotive throttle motors from OEM manufacturers.
Automotive Throttle Motor Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
North America held the largest market share in 2021 and is projected to continue its dominance during the forecast period. The growing demand for automotive throttle motors from commercial cars is mainly contributing to market growth.
Due to the continuous development in automotive brushless DC motor in the coming years, the worldwide market for automotive throttle motor is made of both international and local producers, making it one of the most competitive sectors in the world. Companies sell their products through a variety of channels, including corporate websites, e-commerce websites, retailers, distributors, and end consumers. Products makers compete on a variety of aspects, including Product costs, performance, products making, distribution channel, reputation, and availability. Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new Product launches, distribution network development, R&D spending, and mergers and acquisitions. For instance, in 2021, Bosch launched its new electronically controlled throttle (ECT) motor, which is designed to meet the requirements of modern gasoline and diesel engines.
This proposed research study on Automotive Throttle Motor market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Automotive Throttle Motor market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Automotive Throttle Motor market
Impact of COVID-19 on Automotive Throttle Motor market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Automotive Throttle Motor market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Automotive Throttle Motor market, we have also included competitive landscape and key innovator analysis for the Automotive Throttle Motor market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Automotive Throttle Motor market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Automotive Throttle Motor market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
GLOBAL AUTOMOTIVE THROTTLE MOTOR MARKET KEY PLAYERS
Mitsubishi Electric Corporation
Delphi Automotive PLC
Hitachi Automotive Systems
Magneti Marelli S.p.A.
Hella GmbH & Co. KGaA
Johnson Electric Holdings Limited
Rheinmetall Automotive AG
GLOBAL AUTOMOTIVE THROTTLE MOTOR MARKET, BY PRODUCT
GLOBAL AUTOMOTIVE THROTTLE MOTOR MARKET, BY VEHICLE TYPE
GLOBAL AUTOMOTIVE THROTTLE MOTOR MARKET, BY DISTRIBUTION CHANNEL
GLOBAL AUTOMOTIVE THROTTLE MOTOR MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA