Global Automotive Motors Market
The GMI Research asserts that the Automotive Motors Market will increase at a robust rate over the forecast period. This is because of the ongoing innovations in the technology and augmenting investment by automakers.
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Automotive Motors Market Dynamics
The acceleration in the sale of automobiles and rising initiatives to enhance the effectiveness of mechanized motors has propelled the growth of the global automotive motors market. The department of energy effectuated several projects to allow the manufacturers to get endowment opportunities. The Department of Energy, US, in 2018, declared nearly USD 25 million for 13 projects by various companies, like American Superconductor Corporation and General Electric Company. These initiatives focused on leveraging automotive motors manufacturers with sophisticated technology made in nanomaterial research with enhanced performance. Thus, all these factors together contribute to Automotive Motor Market Size.
Also, the widespread outburst of the coronavirus crisis hampered market growth. The lockdown enforced throughout the world temporally ceased the production and sales of vehicles, thus leading to reduced sales. Further, the rising number of environmental regulations, as well as the surging demand for better fuel effectiveness, had a negative impact on the market growth. Besides this, the augmenting demand for lightweight components from suppliers to decrease vehicle weight and assist them in catering to the demand for lower discharge with better mileage are further projected to restrain the Automotive Motor market share.
Automotive Motors Market Segmentation:
Segmentation by Motor Type
- Brushed DC Motor
- Brushless DC Motor
- Stepper Motor
- Traction Motor
Segmentation by Application
- Safety
- Comfort
- Performance
Segmentation by Vehicle Type
- Electric Vehicle
- BEV
- HEV
- PHEV
- ICE
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Segmentation by Sales Channel
- OEM
- Aftermarket
Segmentation by Region:
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- RoW
- UAE
- Brazil
- South Africa
- Saudi Arabia
About GMI Research
GMI Research, a consulting and research enterprise provides acumen and reports to different enterprises to help the clients formulate judicious business policies and achieve long-term growth in the specified market domain. The large team of analysts and industrial experts from different regions offer a comprehensive solution to the client. The research report of GMI organisation offers a complete analysis about forecasts, competitive landscape, key drivers, and other market perception to help companies make planned decisions. We at our organisation try to help our clients stay ahead of others.
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