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The Electric Motors for IC Engine Vehicles Market grew from USD 704.82 billion in 2023 to USD 723.82 billion in 2024. It is expected to continue growing at a CAGR of 4.18%, reaching USD 939.32 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
The market for electric motors in IC (Internal Combustion) engine vehicles is expanding, driven by the synergy between traditional engines and electric components to improve fuel efficiency and reduce emissions. The scope of this market encompasses the integration of electric motors for applications like start-stop systems, engine downsizing, and electric turbochargers. The necessity of electric motors in IC engine vehicles arises from stringent emission regulations, the need to enhance vehicle performance, and the transition toward hybrid technology. The primary applications are found in passenger cars, commercial vehicles, and two-wheelers, where these motors help in augmenting power output and optimizing fuel consumption, thus broadening end-use scope across different vehicle categories.
Market growth is predominantly influenced by government initiatives on reducing carbon footprints, ongoing advancements in electric motor technologies, and the integration of AI and IoT for smarter vehicle management. A key potential opportunity lies in developing cost-effective and high-efficiency electric motors that can cater to mass consumer markets, alongside an increasing focus on energy recovery systems like regenerative braking. To seize these opportunities, companies should invest in R&D for lightweight, compact motor designs and explore materials that enhance performance.
Nevertheless, challenges such as high initial investment costs, competition from fully electric vehicles, and the complexity of integrating electric motors with traditional IC engines pose significant limitations. Market players must navigate these barriers through strategic partnerships, economies of scale, and innovations in battery technology to reduce costs.
Innovation and research avenues that hold promise include the exploration of novel materials like aluminum-based alloys for motor components, advancement in integrated motor drives, and the development of smart control systems for enhanced performance. The market is marked by a dynamic landscape with a balanced mix of technological progression and regulatory measures, suggesting that strategic adaptation and technological agility are crucial for sustained growth.
Understanding Market Dynamics in the Electric Motors for IC Engine Vehicles Market
The Electric Motors for IC Engine Vehicles Market is rapidly evolving, shaped by dynamic supply and demand trends. These insights provide companies with actionable intelligence to drive investments, develop strategies, and seize emerging opportunities. A comprehensive understanding of market dynamics also helps organizations mitigate political, geographical, technical, social, and economic risks while offering a clearer view of consumer behavior and its effects on manufacturing costs and purchasing decisions.- Market Drivers
- Increasing demand for in-car technologies
- Surging utilization in premium and luxury cars
- Rapid adoption of power window system in vehicles
- Market Restraints
- Fluctuating price of raw materials and easy availability of low cost substitutes
- Market Opportunities
- Increasing government initiatives to enhance vehicle safety
- Developments in products and rising involvement of production of in-house electric motors
- Market Challenges
- Increasing adoption of electric vehicles replacing IC engine vehicles
Exploring Porter’s Five Forces for the Electric Motors for IC Engine Vehicles Market
Porter’s Five Forces framework further strengthens the insights of the Electric Motors for IC Engine Vehicles Market, delivering a clear and effective methodology for understanding the competitive landscape. This tool enables companies to evaluate their current competitive standing and explore strategic repositioning by assessing businesses’ power dynamics and market positioning. It is also instrumental in determining the profitability of new ventures, helping companies leverage their strengths, address weaknesses, and avoid potential pitfalls.Applying PESTLE Analysis to the Electric Motors for IC Engine Vehicles Market
External macro-environmental factors deeply influence the performance of the Electric Motors for IC Engine Vehicles Market, and the PESTLE analysis provides a comprehensive framework for understanding these influences. By examining Political, Economic, Social, Technological, Legal, and Environmental elements, this analysis offers organizations critical insights into potential opportunities and risks. It also helps businesses anticipate changes in regulations, consumer behavior, and economic trends, enabling them to make informed, forward-looking decisions.Analyzing Market Share in the Electric Motors for IC Engine Vehicles Market
The Electric Motors for IC Engine Vehicles Market share analysis evaluates vendor performance. This analysis provides a clear view of each vendor’s standing in the competitive landscape by comparing key metrics such as revenue, customer base, and other critical factors. Additionally, it highlights market concentration, fragmentation, and trends in consolidation, empowering vendors to make strategic decisions that enhance their market position.Evaluating Vendor Success with the FPNV Positioning Matrix in the Electric Motors for IC Engine Vehicles Market
The Electric Motors for IC Engine Vehicles Market FPNV Positioning Matrix is crucial in evaluating vendors based on business strategy and product satisfaction levels. By segmenting vendors into four quadrants - Forefront (F), Pathfinder (P), Niche (N), and Vital (V) - this matrix helps users make well-informed decisions that best align with their unique needs and objectives in the market.Strategic Recommendations for Success in the Electric Motors for IC Engine Vehicles Market
The Electric Motors for IC Engine Vehicles Market strategic analysis is essential for organizations aiming to strengthen their position in the global market. A comprehensive review of resources, capabilities, and performance helps businesses identify opportunities for improvement and growth. This approach empowers companies to navigate challenges in the increasingly competitive landscape, ensuring they capitalize on new opportunities and align with long-term success.Key Company Profiles
The report delves into recent significant developments in the Electric Motors for IC Engine Vehicles Market, highlighting leading vendors and their innovative profiles. These include AMETEK Inc., Arc Systems Inc., BorgWarner Inc., Brook Crompton UK Ltd., Brose Fahrzeugteile SE & Co. KG, Continental AG, DENSO Corporation, Emerson Electric Co., Energica Motor Co. Inc., Hitachi Ltd., Johnson Electric Holdings Ltd., Marelli Holdings Co. Ltd., Regal Rexnord Corporation, Robert Bosch GmbH, and Valeo SA.Market Segmentation & Coverage
This research report categorizes the Electric Motors for IC Engine Vehicles Market to forecast the revenues and analyze trends in each of the following sub-markets:- Vehicle Type
- Commercial Vehicle
- Passenger Cars
- Motor Type
- AC Motor
- DC Motor
- Supply Type
- 48 V & Above
- Below 24 V
- Application
- 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
- Sunroof Motor
- Traction Motor
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report provides a detailed overview of the market, exploring several key areas:
- Market Penetration: A thorough examination of the current market landscape, featuring comprehensive data from leading industry players and analyzing their reach and influence across the market.
- Market Development: The report identifies significant growth opportunities in emerging markets and assesses expansion potential within established segments, providing a roadmap for future development.
- Market Diversification: In-depth coverage of recent product launches, untapped geographic regions, significant industry developments, and strategic investments reshaping the market landscape.
- Competitive Assessment & Intelligence: A detailed analysis of the competitive landscape, covering market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, technological advancements, and innovations in manufacturing by key market players.
- Product Development & Innovation: Insight into groundbreaking technologies, R&D efforts, and product innovations that will drive the market in future.
Additionally, the report addresses key questions to assist stakeholders in making informed decisions:
- What is the current size of the market, and how is it expected to grow?
- Which products, segments, and regions present the most attractive investment opportunities?
- What are the prevailing technology trends and regulatory factors influencing the market?
- How do top vendors rank regarding market share and competitive positioning?
- What revenue sources and strategic opportunities guide vendors' market entry or exit decisions?
Table of Contents
1. Preface
2. Research Methodology
4. Market Overview
5. Market Insights
6. Electric Motors for IC Engine Vehicles Market, by Vehicle Type
7. Electric Motors for IC Engine Vehicles Market, by Motor Type
8. Electric Motors for IC Engine Vehicles Market, by Supply Type
9. Electric Motors for IC Engine Vehicles Market, by Application
10. Americas Electric Motors for IC Engine Vehicles Market
11. Asia-Pacific Electric Motors for IC Engine Vehicles Market
12. Europe, Middle East & Africa Electric Motors for IC Engine Vehicles Market
13. Competitive Landscape
14. Competitive Portfolio
15. Appendix
List of Figures
List of Tables
Companies Mentioned
The leading players in the Electric Motors for IC Engine Vehicles Market, which are profiled in this report, include:- AMETEK Inc.
- Arc Systems Inc.
- BorgWarner Inc.
- Brook Crompton UK Ltd.
- Brose Fahrzeugteile SE & Co. KG
- Continental AG
- DENSO Corporation
- Emerson Electric Co.
- Energica Motor Co. Inc.
- Hitachi Ltd.
- Johnson Electric Holdings Ltd.
- Marelli Holdings Co. Ltd.
- Regal Rexnord Corporation
- Robert Bosch GmbH
- Valeo SA
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 182 |
| Published | October 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 723.82 Billion |
| Forecasted Market Value ( USD | $ 939.32 Billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
