Automotive Motors Market Size, Share, and Trends 2024 to 2034

Automotive Motors Market Size to Reach USD 45.92 Bn by 2033

The global automotive motors market size was USD 29.29 billion in 2023, accounted for USD 30.64 billion in 2024, and is expected to reach around USD 45.92 billion by 2033, expanding at a CAGR of 4.6% from 2024 to 2033.

Automotive Motors Market Key Takeaways

• Asia-Pacific region contributed a revenue share of over 43.14% in 2023.
• By type, the DC brushed motors segment contributed the highest revenue share of over 44% in 2023.
• By vehicle type, the passenger cars segment hit 39% revenue share in 2023.
• By function, the comfort & convenience segment held 54% revenue share in 2023.

Asia Pacific Automotive Motors Market Size and Growth 2024 to 2033

The Asia Pacific automotive motors market size was estimated at USD 12.63 billion in 2023 and is predicted to be worth around USD 20.43 billion by 2033, at a CAGR of 4.9% from 2024 to 2033.

On the basis of geography, the region of Asia Pacific has emerged as the largest market due to the increasing demand of better engines and performance pertaining to the rapidly increasing disposable income available with the people. The region of Europe has also recorded a significant growth over the period of years owing to the increasing demand for advanced facilities.

The North America region has emerged as a significant market for the growth of the automotive motor vehicles due to the increasing demand of advanced technologies and vehicles among the people. The rapid acceptance to technological development in this sector has boosted the demand for better performance and economy. The rapidly increasing demand for advanced features in the high-end vehicles has also emerged as a major growth factor for the market in this particular region. Increasing demand for a premium experience while driving a motor vehicle has increased the demand for better engines and motors that produce minimum amount of noise and give out maximum power.

Market Overview

Motors are the most important part of any vehicle which helps in performing the various operations in a smooth manner. It is very significant for the constant rotational motion in the vehicles. motors are used in different types of applications of the vehicles. It is used in the fans of the seat cooling, motors of the power steering motors of the power window, wiper system and the fans utilized in cooling the engine. Due to the outbreak of the COVID-19 pandemic there was a negative impact on the automotive market. 

The manufacturing of the vehicles had stopped. due to the lack of the skilled labor the growth of the market was hampered. There are many factors that have led to the growth of the market like the increase in the need for low emissions, increased purchasing power which has created more demand for comfort and safety features. ABS and ESC are some of the safety systems which will create more demand for the electric motors. 

Automotive Motors Market Growth Factors

In many developed nations like the United States there has been a growth in the demand for the safety and convenience in vehicles. The demand for comfort has also increased due to which the market is expected to grow well in the coming years. Luxury, comfort and safety are some of the factors that will lead to the growth of the market in the coming years. Introduction of the advanced infotainment and the adoption of these systems on a large scale will also lead to the growth of the market in the coming years. Central controllers and telematics will lead to the growth of the market during the forecast period.

The use of the electronic components in the vehicles has also increased to a great extent and the adoption of the software has also increased due to which the market is expected to grow well in the coming years. The demand for electric vehicles is one of the factors that will lead to the growth of the market in the coming year. As the amount of pollution has increased in various nations across the globe the demand for the electric vehicles has also increased as they help in reducing the amount of the missions in the environment. As fossil fuels cannot be renewed their depletion is another factor that will lead to the growth of the market during the forecast period. As though electric vehicles are introduced in the market and their sales are also increasing the demand for the automotive motors will also grow in the coming years.

• As the production of the vehicles across the globe have increased the market is expected to grow well in the coming years.
• Increased concerns about safety will also lead to the growth of the market in the coming years period.
• The demand for different types of convenience features have also increased due to which the market will grow well.

Automotive Motors Market Scope

Automotive Motors Market Dynamics

Market Drivers

• Mandatory safety systems in cars- Remove and to various regions especially the developed regions And the developing countries have made it mandatory to install the safety systems in different passenger cars in order to ensure the safety of the passenger as well as the driver. It helps in avoiding the accidents that could lead to fatalities or major injuries. As the government has made it mandatory to install these safety systems in the cars there shall be a growth in the demand for the ABS and ESC systems in the passenger cars. 
• growing demand for luxury vehicles- There has been a growth in the demand for the luxury cars across various regions in the world the demand for the automotive motors is expected to grow especially in the countries like India as well as China.
• Improved standard of living- Increased per capita income and dual income households in many developing nations across the world across the world across the world across the world has led to a growth in the demand for the automotive motors in the recent years. has led to a growth in the demand for the automotive motors in the recent years. has led to a growth in the demand for the automotive motors in the recent years. has led to a growth in the demand for the automotive motors in the recent years.
• Change in the preferences- In the recent years it has been seen that the consumers across the world seek better products and the demand for the premium cars has increased across the world due to which the market is expected to grow well in the coming years.

Market Challenges

• Environmental norms- The presence of stringent policies or norms related to the environment is one of the restraining factor for the growth of the market.
• Fuel efficiency- Consumers seek vehicles that provide better efficiency in terms of mileage and the vehicles that emit less harmful gases. the demand for lightweight materials has increased in order to reduce the weight of the cars due to which it will provide better efficiency.
• Growing competition- The existing competition in the automotive motors market makes the pricing of various vehicles extremely crucial, cost optimization is a challenge in the market especially when it comes to the premium cars.
• Commercialization of the automotive's- Mutualization of the premium cars or vehicles which are equipped with the advanced technologies is extremely difficult at times do to which the market growth will be hampered in the coming years.

Market Opportunities

Growing demand for the electric vehicles

• As far as we know growth in the demand for the electric vehicles in order to address the councils of the climate change and increasing rates of pollution will help in the growth of the automotive motors market during the forecast period. Increase in the sales of electric vehicles will lead to the growth of the market during the forecast period. There has been no growth in the need for the vehicles that provide fuel efficiency. As the prices of diesel as well as petrol have increased to a great extent the demand for electric vehicles will continue to grow in the coming years and provide maximum opportunities for the growth of the market.

Increase in the number of initiatives taken by the government

• The government of various developing as well as the developed economies are adopting stringent policies or taking major initiatives in order to promote the sales of electric vehicles or bagels that provide better fuel efficiency and they shall also provide good opportunities for the growth of the market in the coming years period

Motor Insights

On the basis of type of motor, the segment of brushless motors has emerged as the largest market due to the increasing demand among the potential consumers. The increasing demand of these varieties among the automotive industries has boosted the demand for such applications with a view to provide maximum torque along with a decent speed which attracts the potential consumers.

The durability of such motors is experience to be better as compared to the other varieties available in the market. Most of the functions belonging to the vehicle or managed with the help of these motors.

Vehicle Type Insights

The passenger car segment is expected to have the largest market share in the coming year. This segment had a greater share in the past in terms of revenue and it will continue to grow well in the coming years period rapid globalization is one of the reasons that will lead to an increase in the demand for the passenger cars. As the disposable income of various consumers across the world have increased there has been no increase in the demand for these passenger cars. Increasing demand for the fuel-efficient vehicles will also lead to a growth in the market. Constant research and development in the field have provided advanced technologies that will help in the growth of the market in the coming years.

Application Insights

On the basis of application, power antenna motor segment is expected to have the largest market share in the coming years. These antennas are used in the cars for the radio. Electric and manual operation of the power antennas will lead to the growth of the market in the coming years. Round coil, electric components, gear assembly, DC motor, connections are their different things that are required in the making of the power antenna. But many of these antennas are not provided in the cars as the radio used for entertainment or other purpose is not required to that extent as it was required previously. Connected systems and smart systems has provided better safety as well as comfort to the consumers do to which the market will grow well in the coming years.

Life Sciences BPO Market Companies

• Continental AG (Germany)
• Nidec Corporation (Japan)
• Robert Bosch GmbH (Germany)
• Johnson Electric Holdings Ltd. (Hong Kong)
• Denso Corporation (Japan)
• Mitsubishi Electric Corporation (Japan). Siemens AG (Germany)
• Borgwarner Inc. (U.S.)
• Mitsuba Corporation (Japan)
• Magna International (Canada)
• Valeo S.A. (France)
• Mahle Group (Germany)
• REIL Electricals India Limited (India)
• PMP Auto Components Pvt. Ltd. (India)
• SAIC Motor Corporation Limited (China)

Recent Development

• In September 2020, BorgWarner disclosed its decision to manufacture a power iDM for the electric Ford Mustang.

Segments covered in the report

By Application

• Power Antenna Motor
• Alternator
• Electric Parking Brake 
• Fuel pump Motor
• Sunroof Motor
• Wiper Motor
• Starter Motor
• Electric Power Steering
• Engine Cooling Fan

By Vehicle Type

• Heavy Commercial Vehicles
• Passenger Cars
• Electric two-Wheeler
• Light Commercial Vehicle
• Two-Wheeler
• Plug in Hybrid Electric Vehicle
• Battery Electric Vehicle

By Technology

• Pulse-width modulation (PWM)
• Direct torque control (DTC)
• Others

By Function

• Performance
• Comfort & Convenience
• Safety & Security

By Motor Type

• Stepper Motor
• Brushless DC Motor
• DC brushed Motor
• Traction Motor

By Geography

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Malaysia
• Philippines
• Latin America
• Brazil
• Rest of Latin America
• Middle East & Africa (MEA)