The size of the global Automotive Motor Market was estimated at USD 35.20 billion in 2022 and is projected to grow at a CAGR of 7.8% from 2023 to 2031. An important economic factor, the automotive sector is on the cusp of new technological advancements. The car business is currently being driven by customers' need for expensive and unique features. The availability of skilled labor at reasonable prices, strong R&D facilities, and affordable steel production all contribute to the global success of the automobile industry. Over the past few years, there has been a steady increase in the number of cars using electric motors.

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Top Key Players:

·         BorgWarner Inc.

·         Brose Fahrzeugteile SE & Co. KG

·         Bühler Motor GmbH

·         Continental AG

·         Johnson Electric Holdings Limited

·         Mabuchi Motor Co. Ltd.

·         MAHLE GmbH

·         MITSUBA Corporation

·         Mitsubishi Electric Corporation

·         Nidec Corporation

·         Ricardo PLC

·         Robert Bosch GmbH

·         Siemens AG

Market Growth:

The automotive sector has shifted its focus to electric vehicles as a way to reduce vehicle emissions, which is driving the market. The cost of producing electric drive trains and fuel-efficient diesel engines may increase in the next years as governments and environmental agencies implement rigorous emission restrictions and laws in response to growing environmental concerns.

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Market Segmentation:

Automotive Motors Market (By Application: Power Antenna Motor, Alternator, Electric Parking Brake, Fuel pump Motor, Sunroof Motor, Wiper Motor, Starter Motor, Electric Power Steering, Engine Cooling Fan; By Vehicle Type; By Technology; By Function; By Motor Type) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2031

Market Restraints:

The raw materials are necessary to make motors are created using steel bars and copper wires. The availability of materials and price fluctuation are worries for motor makers and suppliers. The US automotive market's expansion is constrained by fluctuating raw material prices. Aside from that, producers are unable to benefit financially from falling material prices due to long-term supply agreements.

Market Opportunities:

Eventually, automotive motors must be changed, which is anticipated to have an impact on the market expansion. However, it is anticipated that development potential will be brought about by OEM efforts to introduce motors with minimal wear and tear, a longer life, and greater efficiency.

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