Automotive Electric Motors Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023
— The devices implanted within the automobiles for actively performing as per the electromagnetic induction principles, are referred to as automotive electric motors. An automotive electric motor consists of two key parts, namely a rotor and a stator. The rotor has three parts: frame, conducting wire, and a stator core. The stator core is a bunch of steel rings that are sheathed from each other and then veneered together. The car’s battery supplies electric energy to the stator. The stator comprises coils that are made of conducting wire, are positioned on reverse sides of the stator core. In a way, they behave as magnets. Consequently, as the car battery supplies the motor with electrical energy, the coils generate magnetic fields that are rotating. These magnetic fields draw the conducting rods on the exterior of the rotor on its backside. The rotating rotor generates the mechanical energy required to roll the gears of the vehicle. The rotor in turn, rotates the tires. As per the research reports published by Market Research Future (MRFR), the global automotive electric motors market can be evaluated to develop at an impressive 8% CAGR during the forecast period 2017 to 2023. The key factors that encourage the development of the automotive electric motors market mostly include the expanding adoption of electric automobiles across the globe. Besides, the benefits derived from electric motors embedded in the vehicle also propels the market growth to a large extent. The benefits add up to low consumption of energy, low conservation for the fluctuating voltages, and prolonged operating life. The electric motors can be unified with gearing and controls that make it more apt for automotive applications.
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The global automotive electric motors market has been segmented based on installation position, region, and function. Based on installation position, the market has been segmented based on chassis motors, powertrain motors, and body motors. Based on function, the market has been segmented into small sized automotive electric motors, automotive starters, alternators, and others.
The geographical segmentation of the global automotive electric motors market has been based on regional markets namely Asia Pacific, Europe, North America, and the rest of the world (RoW). As per the reports published by Market Research Future, the Asia Pacific is likely to lead the market owing to the rapid development of the manufacturing industries in this region. This include the automotive manufacturers as well. Factors accounting for the thriving automotive electric motors market in this region encompass consistent surge of automobile manufacturing sector and the rising significance on espousal of energy efficient electric motors in different automotive. The prime markets in this region include China, Japan, and India, followed by the rest of the Asia Pacific region. In the developed nations located in Europe and North America, the customers are becoming conscious of the usage of effectual electric motors in automotive. Furthermore, the electric motors are available at low cost. In North America, the key markets consist of Canada and the United States of America (USA). In Europe, the key country-based markets include the United Kingdom (UK), Germany, France, Spain and followed by the rest of Europe.
Market Research Future states in their reports that the global automotive electric motors market has been dominated by key players such as Chengdu Huachuan Electric Parts Co.,Ltd. (China), Bosch GmbH (Germany), Hubei Shendian Auto Motor Co., Ltd. (China), Chongqing Bright Industry Group Co., Ltd.(China), Johnson Electric International AG (Hong Kong), Taizhou ValeoWenling Automotive Systems Co., Ltd. (China), Jinzhou Halla Electrical Equipment Co., Ltd. (China), Shanghai Valeo Automotive Motor & Wiper Systems Co., Ltd.(China), and Shanghai Valeo Automotive Electrical Systems Co., Ltd. (China).
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