The global automotive motor market was valued at $38.7 billion in 2023 and is projected to experience substantial growth, reaching $56.9 billion by 2030. This expansion is driven by a Compound Annual Growth Rate (CAGR) of 5.7% from 2024 to 2030. A key driver for this increase in demand is the growing sales of vehicles, particularly electric variants.

 

Automobiles utilize various electric motors to power numerous functionalities, including essential components like power windows, engine cooling fans, air conditioning systems, and sunroofs. Furthermore, the increasing consumer preference for advanced safety features such as anti-lock braking systems (ABS), airbags, electronic stability control (ESC), and traction control—all of which rely on electric motors—is stimulating significant market expansion.

 

The global automotive industry is seeing a rise in production across all segments, including passenger cars, commercial vehicles, and two-wheelers. This trend is supported by globalization, which has fueled economic prosperity and increased disposable income in previously untapped consumer markets. As demand for vehicles rises, multinational firms are establishing manufacturing bases in these thriving economies. This cumulative effect boosts the demand for all types of automotive motors, from those performing core functions to those enhancing comfort and convenience.

 

Key Market Trends & Insights

  • Regional Dominance: The Asia Pacific region held the largest revenue share in the automotive motor market in 2023, accounting for 45.7%. This leading position is primarily attributed to the changing economic landscape, where increasing prosperity and rising disposable income among the younger, working population are driving high demand for private passenger vehicles.
  • Major National Market: Within its regional market, the U.S. automotive motor market holds the majority share. Factors contributing to this include the high popularity of large vehicles like trucks and SUVs, strong consumer purchasing power, a well-established automotive manufacturing sector, and favorable government policies.
  • Motor Type Leadership: By motor type, the brushless DC (BLDC) motor segment was dominant, holding the largest revenue share of 43.3% in 2023. This is due to the significantly higher efficiency of BLDC motors compared to traditional brushed DC motors. This improved efficiency translates into greater driving range for Electric Vehicles (EVs) and better fuel economy for hybrid vehicles, ultimately reducing operational costs and emissions.
  • Sales Channel Preference: The aftermarket sales channel held a significant majority revenue share of 71.3% in 2023. The constant need for replacement parts, fluids, and repair/maintenance services due to vehicle wear and tear is catered to by the aftermarket, which provides a wider network of suppliers and service providers than the original equipment manufacturer (OEM) network.
  • Application Focus: The comfort segment led the market by application, holding the largest revenue share of 48.1% in 2023. This is a result of continuous efforts by automobile manufacturers to integrate features that prioritize passenger comfort.

 

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Market Size & Forecast

  • 2023 Market Size: USD 38.7 Billion
  • 2030 Projected Market Size: USD 56.9 Billion
  • CAGR (2024-2030): 5.7%
  • Asia Pacific: Largest market in 2023

 

Key Companies & Market Share Insights

Prominent companies in the automotive motor market include Johnson Electric Holdings Limited and DENSO CORPORATION.

  • Johnson Electric Holdings Limited, based in Hong Kong, supplies a wide range of electro-mechanical products to the automobile industry, such as DC motors, gear motors, and actuators.
  • Denso Corporation, a Japanese manufacturer, offers various motors including starter motors, alternators, and power window motors for two-wheelers, four-wheelers, and commercial vehicles, and supplies products to major manufacturers like Toyota.

 

Key Players

  • Siemens
  • Robert Bosch GmbH
  • Continental AG
  • DENSO CORPORATION
  • Mitsubishi Electric Corporation
  • MAHLE GmbH
  • NIDEC CORPORATION
  • Johnson Electric Holdings Limited
  • BorgWarner Inc.
  • Valeo S.A.

 

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Conclusion

The automotive motor market is set for strong growth, with a projected increase from $38.7 billion in 2023 to $56.9 billion by 2030 (CAGR of 5.7%). This expansion is largely driven by rising global vehicle sales, particularly in the electric vehicle sector, and the continuous integration of motor-dependent safety and comfort features in modern vehicles. Regionally, Asia Pacific remains the largest market, while brushless DC motors and the aftermarket sales channel are the leading segments by motor type and sales channel, respectively.