Automotive Motor Market Analysis 2018 To 2023, Global Automotive Motor Market Segmented by Product (DC Brushed, BLDC Motors, Stepper), Application (Performance Motors, Comfort Motors, Safety Motors), Vehicle Type (Passenger Car and Commercial Vehicle), Electric Vehicle Type (BEV, PHEV, HEV), and region.
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Global Automotive Motor Market Highlights:
The automotive motor is designed to convert one type of energy into mechanical energy. They are an integral part of vehicle components because of its wide use in engine cooling fan, power steering, battery cooling, and other systems. The electric motor in automotive convert’s electrical energy into mechanical energy and pneumatic motors uses compressed air. The motors in automotive are used in internal combustion engine, high-speed motor, and others. In comparison internal combustion engines with high-speed motors, which are used in automotive, high-speed motor are double efficient than internal combustion. The motor in vehicles have wide applications, which include performance motors, comfort motors, and safety motors. The performance motor improves the overall efficiency of the vehicle,comfort motor provides increased riding capability, which increases the demand of the vehicles in future.
The factors that are responsible for the growth of automotive motor are increased government initiative, energy efficient evaluation program, increased demand from automotive industry, and others. Government have taken various initiatives to improve the efficiency of the motor. According to Office of Energy Efficiency & Renewable Energy, there has been a significant investment of about USD 25 million for the advancement of technology to provide energy-efficient motor. The department of energy have taken up various projects by Next Generation of Electric Machines which will enable them to get fund opportunity. The initiative will leverage the manufacturers of motors with advanced technology made in nanomaterial’s research with improved performance. The improved performance of automotive motor will result in the growth of the market during forecast period. The increased demand from automotive industry is majorly due to growing demand for electric vehicles. The most popular electric vehicle manufacturer Tesla is equipped with high-speed motor with a 3-phase electric induction motor. The increase in demand from the electric vehicle manufacturers will result in the growth of the automotive market.
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