Market Size of Electric Motors For IC Engine Vehicle Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Electric Motors for IC Engine Vehicle Market Analysis
The global electric motors for IC engine vehicle market is anticipated to register a CAGR of over4% during the forecast period (2020– 2025).
- The demand for electric motors for IC engine vehicles is continually growing, as consumersaround the worldare willing to pay extra for in-car technologies, such as sunroof, electrically operated ORVMs (outer rear view mirror), electrically powered seats, powered tailgate, and power windows. Manyelectric motors, ranging from 100W to 5KW, are used for these features.
- There has been a major thrust in the safety systems used in vehicles, with safety systems being mandated by various governments around the worldand ratified by automotive manufacturers, in recent times. As a result, advanced safety systems, such as ABS (anti-lock braking system) and traction control, are no longer limited to premium vehicles.
- The growing market for electric and hybrid vehicles is a major restraint for the internal combustion engine vehicle market. Moreover,the less or limited requirement of mechanical moving parts andmotors in EVs has proved to be a key restraining factor for the electric motors for the IC engine vehicle market.
Electric Motors for IC Engine Vehicle Industry Segmentation
The global electric motors for IC engine vehicle market is segmented by vehicle type, motor type, supply type, application type, and geography.
| Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
| Motor Type | |
| AC Motor | |
| DC Motor |
| Supply Type | |
| Below 24 V | |
| 48 V and Above |
| Application Type | |
| ABS Motor | |
| Door Lock Motor | |
| Electric Power Steering Brushed Motor | |
| Electric Power Steering Brushless Motor | |
| Handbrake Motor | |
| Oil Pump Motor | |
| Power Lift Gate Motor | |
| Power Window Motor | |
| Radiator Fan Motor | |
| Seat Motor (Seat and Headrest) | |
| Sunroof Motor | |
| Traction Motor |
| Geography | |||||||
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Electric Motors For IC Engine Vehicle Market Size Summary
The electric motors for internal combustion engine (IC) vehicles market is experiencing a steady growth trajectory, driven by increasing consumer demand for advanced in-car technologies and enhanced safety features. As consumers are willing to invest in features like electrically operated mirrors, powered seats, and advanced safety systems such as ABS and traction control, the market for electric motors is expanding. However, the rise of electric and hybrid vehicles poses a significant challenge, as these vehicles require fewer mechanical components, thereby limiting the demand for electric motors in IC vehicles. The passenger car segment is the dominant force in this market, fueled by growing consumer purchasing power and a heightened focus on vehicle safety.
Globally, the market is witnessing robust growth, particularly in the Asia-Pacific region, which leads in vehicle sales, followed by Europe and North America. In Europe, stringent vehicle efficiency and fuel economy regulations are driving demand for electric motors, although the increasing adoption of electric vehicles is expected to dampen market growth. The market is characterized by a few major players, such as Nidec Corporation, Denso Corporation, Mitsubishi Electric Corporation, and Robert Bosch, who are actively engaging in strategic partnerships, acquisitions, and product innovations to maintain their competitive edge. These companies are focusing on integrating advanced technologies and optimizing product offerings to meet the evolving demands of the automotive industry.
Electric Motors For IC Engine Vehicle Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Vehicle Type
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2.1.1 Passenger Cars
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2.1.2 Commercial Vehicles
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2.2 Motor Type
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2.2.1 AC Motor
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2.2.2 DC Motor
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2.3 Supply Type
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2.3.1 Below 24 V
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2.3.2 48 V and Above
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2.4 Application Type
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2.4.1 ABS Motor
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2.4.2 Door Lock Motor
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2.4.3 Electric Power Steering Brushed Motor
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2.4.4 Electric Power Steering Brushless Motor
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2.4.5 Handbrake Motor
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2.4.6 Oil Pump Motor
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2.4.7 Power Lift Gate Motor
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2.4.8 Power Window Motor
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2.4.9 Radiator Fan Motor
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2.4.10 Seat Motor (Seat and Headrest)
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2.4.11 Sunroof Motor
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2.4.12 Traction Motor
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2.5 Geography
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2.5.1 North America
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2.5.1.1 United States
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2.5.1.2 Canada
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2.5.1.3 Mexico
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2.5.2 Europe
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2.5.2.1 Germany
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2.5.2.2 United Kingdom
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2.5.2.3 Russia
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2.5.2.4 Itlay
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2.5.2.5 Rest of Europe
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2.5.3 Asia-Pacific
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2.5.3.1 China
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2.5.3.2 Japan
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2.5.3.3 India
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2.5.3.4 Rest of Asia-Pacific
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2.5.4 South America
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2.5.4.1 Brazil
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2.5.4.2 Argentina
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2.5.4.3 Rest of South America
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2.5.5 Middle East & Africa
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2.5.5.1 United Arab Emirates
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2.5.5.2 Saudi Arabia
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2.5.5.3 Rest of Middle East & Africa
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Electric Motors For IC Engine Vehicle Market Size FAQs
What is the current Electric Motors For IC Engine Vehicle Market size?
The Electric Motors For IC Engine Vehicle Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Electric Motors For IC Engine Vehicle Market?
NIDEC CORPORATION, Denso Corporation, Robert Bosch GmbH, Johnson Electric Holdings Limited and Mitsubishi Electric are the major companies operating in the Electric Motors For IC Engine Vehicle Market.
