Asia-Pacific Automotive Electric Motors Market Size global demand and growth forecast through 2032
Asia-Pacific Automotive Electric Motors Market
The Asia-Pacific automotive electric motors market is experiencing significant growth, driven by the region’s booming automotive industry and the increasing shift towards electric and hybrid vehicles. China, Japan, and South Korea are the key players in this market, with China being the largest producer and consumer of electric vehicles in the world. Government initiatives promoting the use of electric vehicles, stringent emission regulations, and the development of EV charging infrastructure are key factors propelling the demand for electric motors in the region.
Japanese automakers such as Toyota and Nissan are pioneers in hybrid and electric vehicle technology, further contributing to the growth of the automotive electric motors market. In addition, the rising demand for electric motors in conventional internal combustion engine (ICE) vehicles for applications such as power windows, mirrors, and seats is driving market expansion. The Asia-Pacific region is expected to continue leading the global automotive electric motors market as vehicle electrification becomes a key focus of the automotive industry in the years ahead.
By 2030, the market for automotive electric motors is projected to be worth USD 1,760 million with a CAGR of 5.9%.
The global Automotive Electric Motors Market is experiencing significant growth due to the increasing demand for electric and hybrid vehicles, government initiatives promoting clean transportation, and advancements in electric motor technology.
This article provides an overview of the Automotive Electric Motors Market, focusing on the scope of the report, segmentation, important features of the reports, key questions answered, regional insights, and reasons to buy.
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Market Research Future Insights:
The electro-magnetic induction concept is used by vehicle electric motors, which are built-in components that ensure the conversion of electrical energy into mechanical energy. The growing popularity of electric vehicles around the world is a major factor driving the market for automotive electric motors.
Longer working life, less maintenance for voltage fluctuations, and low energy consumption are just a few advantages provided by the embedded electric motors in the car. Because they can be integrated with gearing and controls, electric motors are better suited for usage in automobiles.
The global usage of electric vehicles and advantages made possible by electric motors integrated into automobiles are the main reasons driving the market’s growth. Longer operational life, less energy consumption, and minimal maintenance for fluctuating voltages are some of these advantages. The incorporation of gearing and controls into the electric motors improves their suitability for usage in automobiles.
Regional Analysis:
North America, Europe, Asia Pacific, and the rest of the world are the four regional markets that make up the worldwide automobile electric motors market (RoW). Due to the region’s strong growth in the manufacturing sector, particularly the automotive manufacturers, throughout the projected period, the Asia Pacific is anticipated to dominate the market.
The ongoing improvement of the car manufacturing industry and the growing emphasis on the use of energy-efficient electric motors in various automotive are factors boosting the market for automotive electric motors in this area. China, India, and Japan are the main national markets in this area, followed by the remainder of Asia Pacific.
Consumers in the industrialised nations of North America and Europe are becoming more aware of the usage of effective electric motors in automobiles. As a result of their enhanced energy efficiency and low cost, electric motors are being used more frequently.
The United States of America (USA) and Canada are the two most significant country-specific marketplaces in North America. France, Germany, Spain, and the United Kingdom (UK) are the continent’s top four country-based marketplaces, followed by the rest of Europe.
Market Segmentation:
The market for automobile electric motors has been divided into three regions, installation positions, and functions.
This market has been divided into alternators, automotive starters, small-sized automotive electric motors, and others according to the function-based segmentation. The market has been divided into body motors, chassis motors, and powertrain motors based on installation position.
Key Players:
The key players in the global automotive electric motors market
Robert Bosch GmbH (Germany),
Chengdu Huachuan Electric Parts Co.,Ltd. (China),
Chongqing Bright Industry Group Co., Ltd.(China),
Hubei Shendian Auto Motor Co., Ltd. (China),
Jinzhou Halla Electrical Equipment Co., Ltd. (China),
Johnson Electric International AG (Hong Kong),
Mitsubishi Electric Corporation (Japan),
Shanghai Valeo Automotive Electrical Systems Co., Ltd. (China),
Shanghai Valeo Automotive Motor & Wiper Systems Co., Ltd.(China),
Taizhou ValeoWenling Automotive Systems Co., Ltd. (China)
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