The North America automotive motor market is projected to grow at a significant CAGR of 7.4% during the forecast period. The key factors that drive the North America automotive motor market include the high disposable income and increased demand for luxury vehicles amongst the users. The consumers opt to pay more as the standard of living has improved, along with a considerable rise in spending power. Thus, due to this, there has been significant adoption of vehicles with more features and comfort which requires a greater number of electric motors in a vehicle. Further, supportive government regulations and concerns regarding the installation of safety systems in passenger cars are some prominent factors that drive the growth of the market over the forecast period.
Browse the full report description of "North America Automotive Motors Market Size, Share & Trends Analysis Report by Type (Brushless DC Motor & Stepper Motor, Brushed DC Motor, AC Induction Motor, and Others), By Vehicle Type (Passenger Vehicles, Commercial Vehicles, and Electric Vehicles), By Distribution Channel (OEM and Aftermarket) Forecast, 2020-2026" at https://www.omrglobal.com/industry-reports/north-america-automotive-motors-market
Moreover, in order to achieve the highest uniformity advanced compact pedal adjuster motors are used in the smallest package to improve driver control and comfort. Thus, to achieve the enhanced comfort and performance of a vehicle, there is a subsequent demand for automotive motors in the market over the forecast period. The target of the government to augment the EV fleet is providing a significant opportunity to the market. For instance, California has set a target of 5 million EVs fleet by 2030.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected region/segment
North America 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
North America Automotive Motor Market – Segmentation by Country
North America
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