Automotive Motor Market report provides major statistics on the state of the industry and is a valuable source of opportunities and developments for firms and individuals attentive in the market. This report majorly focused on the Automotive Motor market growth in demand, investment, trade and productivity with company profiles, product picture and specification. Automotive Motor market report forecasts revenues for key applications across key regions with Manufacturing Cost Structure Analysis, Product Overview and Scope of Automotive Motor market.
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Global Automotive Motor market is valued approximately USD 27.31 billion in 2018 and is anticipated to grow with a growth rate of more than 6% over the forecast period 2019-2026. An automotive motor is a machine that converts an electrical energy provided through the battery or engine unit to mechanical energy. The basic principle of an automotive motor is â€œMechanical force is produced by the mutual induction of magnetic field and electric current. . The automotive motors market is driving due to the factors such as increasing global vehicle production, rising demand of electric vehicles, increasing demand for advanced automotive systems and demand for safety features and convenience. For instance: According to the Electric Vehicle Initiative, the Japanâ€™s automotive strategy with respect to co-operative approach across industrial stakeholders, aims to reduce greenhouse emission by 80% from producing electric vehicle by domestic automakers till 2050. Similarly, in China, the State Grid Corporation of China plan to build 1,200,000 charging point by 2020 and automakers such as SAIC Motors targeted to build 20,000 charging point by 2020 whereas BAIC Group and NIO targeted to build 4100 battery-swapping station. Hence, the rising investment by automakers in electric vehicle surge the growth of market. Whereas, weight and cost reduction are the factor hampering the growth of market over the forecast years. However, the Electrification of commercial vehicle and huge number of applications employing use of electric motors is a lucrative opportunity for the growth of market.
The regional analysis of Global Automotive Motor Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is account for the largest market share in the Global Automotive Motor Market due to the presence of key market player in the developing economy coupled with rising vehicle productions. Whereas, the Asia Pacific is also the fastest growing region owing to the rising installation of upgraded technology features containing anti-lock braking system and start stop system
Analysis of regional landscape:
- Based on geographical terrain, the Automotive Motor market is segmented into North America, Europe, Asia-Pacific, Southeast Asia, Middle East and Africa, South America.
- A performance summary of each region..
- Insights into the total sales, growth rate, and revenue generated by each geography is provided.
Summary of the regional outlook documented in this report:
- Consumption pattern and consumption rate with respected to each region.
- Predicted consumption rates over the forecast period.
- Market forecasts of key regions are detailed in the report.
- Consumption market share solely based on the regional contribution.
- Market share held by the listed geographies.
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