PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532880
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532880
Automotive Micromotors Market, By Power Consumption, By Motor Type, By Application, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2024-2032
REPORT HIGHLIGHT
Automotive Micromotors Market size was valued at USD 15,962.23 Million in 2023, expanding at a CAGR of 4.50% from 2024 to 2032.
Automotive micromotors are compact electric motors designed for a wide range of applications within vehicles. They play crucial roles in powering components such as power windows, mirrors, seat adjustments, and HVAC actuators. With advancements in electric and hybrid vehicle technologies, micromotors are increasingly integral to systems like electric power steering, regenerative braking, and advanced driver assistance systems (ADAS). The market is driven by demands for efficiency, reliability, and reduced emissions, shaping a competitive landscape among manufacturers focusing on innovation and sustainability in automotive engineering.
Automotive Micromotors Market- Market Dynamics
The Global Increase In Electric And Hybrid Vehicles Is The Primary Driving Force Behind This Trend.
The global automotive micromotors market is experiencing significant growth, driven particularly by the surging sales of electric vehicles (EVs). In 2023, electric car sales soared by 3.5 million units compared to 2022, marking a remarkable 35% year-on-year increase. This sharp rise underscores the accelerating shift towards electric mobility worldwide. Micromotors play a pivotal role in EVs, powering critical components such as electric power steering, HVAC systems, and window mechanisms. As automakers and consumers alike prioritize sustainability and efficiency, the demand for advanced, compact micromotors is set to escalate further. Key market players are actively investing in innovation to meet the escalating requirements of this burgeoning sector.
Automotive Micromotors Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.50% over the forecast period (2024-2032)
Based on Power Consumption segmentation, 12V-24V was predicted to show maximum market share in the year 2023
Based on Motor Type segmentation, Brushless DC (BLDC) Motors was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
Automotive Micromotors Market- Segmentation Analysis:
The Global Automotive Micromotors Market is segmented on the basis of Power Consumption, Motor Type, Application, and Region.
The market is divided into four categories based on Power Consumption: The 12V-24V range is widespread and often used in various automotive systems, including HVAC (Heating, Ventilation, and Air Conditioning) systems, electric power steering, and some types of pumps and fans.
The market is divided into three categories based on Motor Type: Brushless DC (BLDC) motors have emerged as the dominant choice due to their higher efficiency, reliability, and superior performance characteristics. They are extensively used in electric powertrains, HVAC systems, and various vehicle subsystems where smooth operation and energy efficiency are critical. While brushed DC motors and stepper motors still find application in specific niches, the shift towards electrification and stringent efficiency standards has propelled BLDC motors to the forefront of automotive micromotor technology.
Automotive Micromotors Market- Competitive Landscape:
Recent Developments:
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL AUTOMOTIVE MICROMOTORS MARKET, BY POWER CONSUMPTION- MARKET ANALYSIS, 2019 - 2032
GLOBAL AUTOMOTIVE MICROMOTORS MARKET, BY MOTOR TYPE- MARKET ANALYSIS, 2019 - 2032
GLOBAL AUTOMOTIVE MICROMOTORS MARKET, BY APPLICATION- MARKET ANALYSIS, 2019 - 2032
GLOBAL AUTOMOTIVE MICROMOTORS MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032
Table of Contents
1. Automotive Micromotors Market Overview
- 1.1. Study Scope
- 1.2. Market Estimation Years
2. Executive Summary
- 2.1. Market Snippet
- 2.1.1. Automotive Micromotors Market Snippet by Power Consumption
- 2.1.2. Automotive Micromotors Market Snippet by Motor Type
- 2.1.3. Automotive Micromotors Market Snippet by Application
- 2.1.4. Automotive Micromotors Market Snippet by Country
- 2.1.5. Automotive Micromotors Market Snippet by Region
3. Automotive Micromotors Key Market Trends
4. Automotive Micromotors Industry Study
5. Automotive Micromotors Market: COVID-19 Impact Analysis
6. Automotive Micromotors Market Landscape
7. Automotive Micromotors Market - By Power Consumption
8. Automotive Micromotors Market - By Motor Type
9. Automotive Micromotors Market - By Application
10. Automotive Micromotors Market- By Geography
11. Key Vendor Analysis- Automotive Micromotors Industry
12. 360 Degree Analyst View
13. Appendix
List of Tables
- TABLE List of data sources
- TABLE Market drivers; Impact Analysis
- TABLE Market restraints; Impact Analysis
- TABLE Automotive Micromotors Market: Power Consumption Snapshot (2023)
- TABLE Segment Dashboard; Definition and Scope, by Power Consumption
- TABLE Global Automotive Micromotors Market, by Power Consumption 2019-2032 (USD Million)
- TABLE Automotive Micromotors Market: Motor Type Snapshot (2023)
- TABLE Segment Dashboard; Definition and Scope, by Motor Type
- TABLE Global Automotive Micromotors Market, by Motor Type 2019-2032 (USD Million)
- TABLE Automotive Micromotors Market: Application Snapshot (2023)
- TABLE Segment Dashboard; Definition and Scope, by Application
- TABLE Global Automotive Micromotors Market, by Application 2019-2032 (USD Million)
List of Figures
