Automotive Micro Motor Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Automotive micro motors are compact, lightweight, and simple to operate motors with low power consumption and little electromagnetic interference, and hence are ideal for usage in small, complicated locations with limited power budgets, such as modern electrical and electronic systems. The automotive micro motors are used in the automotive industry to convert electrical energy into mechanical energy.

Sizing and Forecast
The automotive micro motor market size has grown steadily in recent years. It will grow from $2.85 billion in 2023 to $2.98 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to fuel efficiency regulations, consumer demand for enhanced vehicle features, global economic conditions, regulatory standards for vehicle safety.

The automotive micro motor market size is expected to see steady growth in the next few years. It will grow to $3.5 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to growing adoption of autonomous vehicles, increasing focus on sustainability and eco-friendly transportation, shift towards shared mobility services, integration of micro motors in emerging automotive markets. Major trends in the forecast period include electrification of vehicles, connectivity and iot in automotive systems, lightweight materials for improved efficiency, 3d printing in automotive manufacturing, integration of renewable energy sources in vehicle power systems.

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Segmentation & Regional Insights
The automotive micro motor market covered in this report is segmented –

1) By Type: AC Micro Motor, DC Micro Motor
2) By Power Consumption: 48V, 25V-48V, 12V-24V, Less than 11V
3) By Technology: Brushed, Brushless
4) By Application: Passenger Vehicle, Commercial Vehicle

Asia-Pacific was the largest region in the automotive micro motor market in 2023. The regions covered in the automotive micro motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The increasing demand for luxury cars is expected to propel the growth of the automotive micro motor market. Automotive micro motors serve a critical role in the system that allows components such as electric sunroofs, environmental purification, power antennae and other advanced features to operate. The growing demand for luxury cars is expected to increase demand for micro motors. For instance, German luxury car company, Audi, reported a two-fold increase in retail sales in India in 2021, from 1,639 units in 2020 to 3,293 units in 2021. Another German luxury vehicles company, Mercedes-Benz India sold 4,101 units in the 2021 July-September quarter, up from 2,060 units in the same quarter of 2020. Therefore, the rising demand for luxury automobiles is expected to drive the automotive micro motors market.

Key Industry Players
Major companies operating in the automotive micro motor market report are Asea Brown Boveri Ltd., Buhler Motor Gmbh, Constar Micro Motor Co. Ltd., Johnson Electric, Nidec Corporation, Robert Bosch GmbH, Denso Corporation, Mabuchi Motors Co. Ltd., Asmo Co. Ltd., Brose Ltd., Mahle GmbH, Panasonic Corporation, Shihlin Electric and Engineering Corporation, IFB Automotive Private Ltd., Maxon Motor GmbH, Mitsuba Corporation, Valeo Group, Continental AG, Siemens AG, BorgWarner Inc., AMETEK Inc., Hitachi Automotive Systems Ltd., Toshiba Corporation, Delphi Technologies, Magna International Inc., Prestolite Electric Inc., Ford Electric Company, Mitsubishi Electric Corporation, Sumitomo Electric Industries Ltd., Micromo Electronics Inc.

The automotive micro motor market report table of contents includes:

1. Executive Summary

 

2. Automotive Micro Motor Market Characteristics

3. Automotive Micro Motor Market Trends And Strategies

4. Automotive Micro Motor Market – Macro Economic Scenario

5. Global Automotive Micro Motor Market Size and Growth

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31. Global Automotive Micro Motor Market Competitive Benchmarking

32. Global Automotive Micro Motor Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Automotive Micro Motor Market

34. Automotive Micro Motor Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players:

Asea Brown Boveri Ltd

Buhler Motor Gmbh

Constar Micro Motor Co. Ltd

Johnson Electric

Nidec Corporation,

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