PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532880
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532880
Automotive Micromotors Market size was valued at USD 15,962.23 Million in 2023, expanding at a CAGR of 4.50% from 2024 to 2032.
Automotive micromotors are compact electric motors designed for a wide range of applications within vehicles. They play crucial roles in powering components such as power windows, mirrors, seat adjustments, and HVAC actuators. With advancements in electric and hybrid vehicle technologies, micromotors are increasingly integral to systems like electric power steering, regenerative braking, and advanced driver assistance systems (ADAS). The market is driven by demands for efficiency, reliability, and reduced emissions, shaping a competitive landscape among manufacturers focusing on innovation and sustainability in automotive engineering.
Automotive Micromotors Market- Market Dynamics
The Global Increase In Electric And Hybrid Vehicles Is The Primary Driving Force Behind This Trend.
The global automotive micromotors market is experiencing significant growth, driven particularly by the surging sales of electric vehicles (EVs). In 2023, electric car sales soared by 3.5 million units compared to 2022, marking a remarkable 35% year-on-year increase. This sharp rise underscores the accelerating shift towards electric mobility worldwide. Micromotors play a pivotal role in EVs, powering critical components such as electric power steering, HVAC systems, and window mechanisms. As automakers and consumers alike prioritize sustainability and efficiency, the demand for advanced, compact micromotors is set to escalate further. Key market players are actively investing in innovation to meet the escalating requirements of this burgeoning sector.
Automotive Micromotors Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.50% over the forecast period (2024-2032)
Based on Power Consumption segmentation, 12V-24V was predicted to show maximum market share in the year 2023
Based on Motor Type segmentation, Brushless DC (BLDC) Motors was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Automotive Micromotors Market is segmented on the basis of Power Consumption, Motor Type, Application, and Region.
The market is divided into four categories based on Power Consumption: The 12V-24V range is widespread and often used in various automotive systems, including HVAC (Heating, Ventilation, and Air Conditioning) systems, electric power steering, and some types of pumps and fans.
The market is divided into three categories based on Motor Type: Brushless DC (BLDC) motors have emerged as the dominant choice due to their higher efficiency, reliability, and superior performance characteristics. They are extensively used in electric powertrains, HVAC systems, and various vehicle subsystems where smooth operation and energy efficiency are critical. While brushed DC motors and stepper motors still find application in specific niches, the shift towards electrification and stringent efficiency standards has propelled BLDC motors to the forefront of automotive micromotor technology.
Automotive Micromotors Market- Geographical Insights
The North American automotive micromotor landscape is characterized by a strong demand supported by the increasing electrification and automation of vehicles. Key players in this region are heavily invested in research and development to produce efficient and compact micromotors for various applications. The focus is on improving motor performance, reducing noise and vibration, and enhancing energy efficiency. While the market is mature, continuous innovation is being driven by the integration of advanced technologies like brushless motors, rare-earth magnets, and advanced control systems.
key players in the automotive micro motors market include Nidec Corporation, Johnson Electric Holdings Limited, Denso Corporation, Mitsuba Corporation, and Robert Bosch GmbH. These companies dominate the market with their extensive product portfolios and technological expertise in manufacturing micromotors used in automotive applications such as power windows, seat adjustments, HVAC systems, and more. Competition is driven by factors such as product innovation, reliability, cost-effectiveness, and responsiveness to evolving automotive industry trends and regulations.
In March 2024, MOONS' Industries expanded its global presence with the establishment of Moons' Industries (UK) in Reading, Berkshire. Founded in 1994 and headquartered in Shanghai, MOONS' is a leading global manufacturer specializing in motion control products.
In November 2023, Portescap launched the 60ECF brushless DC slotted flat motor, enhancing its range of flat motors. Featuring a compact 38.2mm body length and an outer rotor slotted design, it improves heat dissipation while providing a torque of up to 298 mNm. This motor is designed for applications in aerospace, robotics, and industrial automation, catering to industries requiring efficient and reliable motor solutions.
GLOBAL AUTOMOTIVE MICROMOTORS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Robert Bosch GmbH
Denso Corporation
Nidec Corporation
Johnson Electric Holdings Limited
Mitsuba Corporation
Mabuchi Motor Co., Ltd.
Mahle GmbH
Continental AG
Valeo SA
BorgWarner Inc.
AMETEK Inc.
Buhler Motor GmbH
Maxon Motors AG