Automotive Motor Market Trends

Global Automotive Motor Market size was valued at USD 31.5 billion in 2023 and is poised to grow from USD 33.23 billion in 2024 to USD 51.0 billion by 2032, growing at a CAGR of 5.5% during the forecast period (2025-2032).

The Automotive motor Market is highly competitive, with the existence of large number of firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve market share and profitability. Some of the major players in the market are Nidec Corporation, Johnson Electric Holdings Ltd., Robert Bosch GmbH, Denso Corporation, Continental AG, and Mitsubishi Electric Corporation among several others who are driving the market. 'Robert Bosch GmbH (Germany) ', 'Continental AG (Germany) ', 'BorgWarner Inc. (USA) ', 'Denso Corporation (Japan) ', 'Mahle GmbH (Germany) ', 'Valeo (France) ', 'Nidec Corporation (Japan) ', 'Siemens AG (Germany) ', 'ABB Ltd (Switzerland) ', 'Hitachi Astemo, Ltd. (Japan) ', 'Mitsubishi Electric Corporation (Japan) ', 'Toyota Motor Corporation (Japan) ', 'Volkswagen Group (Germany) ', 'General Motors (USA) ', 'Ford Motor Company (USA) ', 'Hyundai Motor Group (South Korea) ', 'Tesla, Inc. (USA) ', 'BYD Company Ltd. (China) ', 'ZF Friedrichshafen AG (Germany)'

Advancement in electric vehicle fabrication technology and a rising emphasis on renewable source of energy has proved to be the key factor driving the automotive motor demand for electric vehicles.

Motors are engaged with different uses of a vehicle, such as, seat cooling fans, power guiding motors, battery cooling fans, motor cooling fans, wiper framework, power window motors, and others, where comfort is as significant as the driving proficiency.

Asia Pacific represented the biggest revenue share in 2021 and is assessed to display the quickest CAGR over the estimate period. This is attributed to the developing vehicle manufacturing in developing nations, such as India, China, and Japan.