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The Electric Motors Market Outlook is majorly driven by the increasing adoption of electric vehicles across the globe. The electric motors embedded in the automotive facilitate certain benefits to automotive which include longer operating life, low maintenance for the fluctuating voltages and the low consumption of energy. The electric motors are capable of being integrated with controls and gearing which make it more suitable for use in automotive. The Electric Motors Market Outlook is expected to grow over the CAGR of around 8% during the period 2017 to 2023.
Segmentation
Segmentation by Installation Position : Comprises Body motors, Chassis motors, Powertrain motors.
Segmentation by Function : Comprises Small sized automotive electric motors, automotive starters, Alternators and Others
Segmentation by Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Key Players
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
Regional Analysis
Asia-Pacific is expected to dominate the Electric Motors Market Outlook owing to the boom in the manufacturing industries including the automotive manufacturers in the region. The constant up gradation of automobile manufacturing sector and the increasing emphasis of adoption of energy efficient electric motors in various automotive in the region is expected to contribute to the growth of the Electric Motors Market Outlook in the region. Developed nations such as North America and Europe are becoming aware for the use of efficient electric motors in the automotive and have increased adoption of electric motors owing to increased energy efficiency and the low cost of electric motors. COVID-19 Impact
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