Automotive Micro Motors Market Size

Automotive Micro Motors Market Size

Automotive Micro Motors Market size was valued at USD 16.4 billion in 2022 and is estimated to register a CAGR of over 4% between 2023 and 2032, owing to stringent regulations on fuel efficiency and emission standards. Governments worldwide are implementing strict regulatory norms to improve fuel efficiency and reduce vehicle emissions.

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For instance, the U.S. Environmental Protection Agency (EPA) sets Corporate Average Fuel Economy (CAFE) standards, which require automakers to achieve a specified average fuel economy across their fleet. These standards are designed to reduce greenhouse gas emissions and improve fuel efficiency.
 

Similarly, China has been implementing progressively stricter emission standards. China VI is one of the latest standards, aiming to limit pollutants such as nitrogen oxides, particulate matter, and hydrocarbons from both gasoline and diesel vehicles. The standards also promote the development of new energy vehicles. Micro motors contribute to these goals by enabling the development of energy-efficient systems within vehicles. For instance, micro motors are used in electric power steering systems, which are more energy-efficient compared to traditional hydraulic systems. As automakers strive to meet these regulatory standards, the demand for micro motors that enhance vehicle efficiency remains high.
 

The automotive industry has been undergoing a visible transformation with the integration of advanced technologies, including automation and connectivity features. For instance, ADAS technologies continue to evolve, with features such as adaptive cruise control, lane-keeping assistance, automatic emergency braking, and parking assistance becoming more advanced. These systems use sensors, cameras, and radar to enhance vehicle safety and reduce the burden on drivers.

Micro motors are used in various applications related to vehicle automation, such as power seats, mirrors, and automated door systems. Additionally, the development of connected vehicles with smart features and infotainment systems has increased the demand for micro motors in power consumptions like electric window lifters and adjustable mirrors.
 

However, the initial costs associated with incorporating advanced micro motors, particularly in electric vehicles and advanced automotive systems, can be relatively high. Cost-sensitive consumers and manufacturers may be hesitant to adopt these technologies, especially in regions where there are concerns about the affordability of electric vehicles or where there is a lack of significant incentives or subsidies to offset the higher upfront costs.