North America Automotive Motors Market Size, Share, Forecast to 2026


Posted October 10, 2020 by rishabh3210

North America Automotive Motors Market Size, Share, Forecast to 2026North America Automotive Motors Market Size, Share, Forecast to 2026

 
The North America automotive motor market is projected to grow at a significant CAGR of 7.4% during the forecast period. The key factors that drive the North America automotive motor market include the high disposable income and increased demand for luxury vehicles amongst the users. The consumers opt to pay more as the standard of living has improved, along with a considerable rise in spending power. Thus, due to this, there has been significant adoption of vehicles with more features and comfort which requires a greater number of electric motors in a vehicle. Further, supportive government regulations and concerns regarding the installation of safety systems in passenger cars are some prominent factors that drive the growth of the market over the forecast period.

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Moreover, in order to achieve the highest uniformity advanced compact pedal adjuster motors are used in the smallest package to improve driver control and comfort. Thus, to achieve the enhanced comfort and performance of a vehicle, there is a subsequent demand for automotive motors in the market over the forecast period. The target of the government to augment the EV fleet is providing a significant opportunity to the market. For instance, California has set a target of 5 million EVs fleet by 2030.

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Market Coverage

Market number available for – 2019-2026
Base year- 2019
Forecast period- 2020-2026
Segment Covered- By Type, By Vehicle Type, By Distribution Channel
Regions Covered- North America (the US and Canada)
Competitive Landscape- Continental AG, Johnson Electric Holdings Ltd., Mitsubishi Electric Corp., Robert Bosch GmbH, and Siemens AG

North America Automotive Motor Market – Segmentation

By Type

Brushless DC Motor & Stepper Motor
Brushed DC Motor
Others

By Vehicle Type

Passenger Vehicles
Commercial Vehicles

o Light Commercial Vehicles (LCVs)

o Heavy Commercial Vehicles (HCVs)

o Others (Buses & Coaches)

Electric Vehicles

o Battery Electric Vehicles (BEVs)

o Plug-in Electric Vehicles (PEVs)

o Hybrid Electric Vehicles (HEVs)

By Distribution Channel

OEM
Aftermarket

North America Automotive Motor Market – Segmentation by Country

North America

United States
Canada

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Last Updated October 10, 2020