The Germany automotive motor market is projected to grow at a lucrative CAGR of 8.9% during the forecast period. The presence of the global renowned automakers in the country is one of the major factors that drive the Germany automotive motor market. Players such as Audi, BMW, Ford-Werke GmbH, Mercedes-Benz, Volkswagen among many others are working in the country in the automotive industry. As per the International Organization of Motor Vehicle Manufacturers, 4.66 million cars were manufactured in Germany in 2019 which was more than double the next European country, Spain (with 2.24 million in 2019). Besides, several growth strategies are adopted by the market players in the region which is contributing to the market growth. For instance, Audi launched Audi e-tron in 2019 which is an electric car, and is planning to offer two variants of the vehicle, a Sportback 50 and Sportback 55. It will augment the demand of automotive motor in the market.
Browse the full report description of "Germany Automotive Motors Market Size, Share & Trends Analysis Report by Type (Brushless DC and Stepper Motor, Brushed DC Motor, AC Induction Motor, and Others), By Vehicle Type (Passenger Vehicles, Commercial Vehicles and Others), and Electric Vehicles) and by Distribution Channel (OEM and Aftermarket) Forecast, 2020-2026" at https://www.omrglobal.com/industry-reports/germany-automotive-motors-market
Further, higher purchasing power, government incentive, and the presence of major market players are some other major factors which in turn will drive the Germany automotive motors market during the forecast period. For instance, in November 2019, the Germany government announced to increase the grants available by half to buyers of electric cars over the five years from 2020. The government also announced to have 10 million electric vehicles on the roads in Germany by 2030. Thus, the launch of novel electric vehicles along with the government support is likely to drive the growth of the German automotive motors market over the forecast period.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from pre-COVID-19 forecast
o Most affected region/segment
Germany Automotive Motor Market – Segmentation
By Type
By Vehicle Type
o Light Commercial Vehicles (LCVs)
o Heavy Commercial Vehicles (HCVs)
o Others (Buses & Coaches)
o Battery Electric Vehicles (BEVs)
o Plug-in Electric Vehicles (PEVs)
o Hybrid Electric Vehicles (HEVs)
By Distribution Channel
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