The global automotive motors market is accelerating toward significant growth, projected to reach $77.5 billion by 2032, according to a new report released by Allied Market Research. Valued at $47.2 billion in 2022, the market is expected to register a CAGR of 5.03% from 2023 to 2032, fueled by rising global vehicle production, electrification trends, and growing demand for safety and convenience features.
Growth Drivers: EV Adoption and Safety Mandates
Automotive motors have become essential components in modern vehicles, enabling features such as power windows, anti-lock braking systems (ABS), airbags, HVAC, and ADAS. With governments worldwide mandating such safety systems—especially in North America and Europe—the demand for electric motors in automotive applications is surging.
Moreover, the ongoing EV revolution is contributing significantly to market momentum. Electric vehicles require more motors than internal combustion engine vehicles, not just for propulsion, but for functions like battery cooling, steering, braking, and thermal management. This is further bolstered by the transition to autonomous and semi-autonomous driving technologies that rely on electric actuation systems.
HVAC Motors Lead the Segment
By application, the HVAC (Heating, Ventilation, and Air Conditioning) segment held the largest share in 2022 and is expected to continue its dominance through 2032, with a projected CAGR of 4.95%. Automakers are increasingly incorporating HVAC technologies to enhance cabin comfort and improve in-vehicle air quality—factors gaining importance among consumers, especially in urban markets.
Asia-Pacific Set to Dominate the Landscape
While North America currently holds the highest revenue share, Asia-Pacific, led by China and India, is anticipated to emerge as a dominant force by 2032. China, in particular, remains the world’s largest vehicle producer, with strong policy support for both ICE and electric vehicles. The region’s rapid industrialization, urbanization, and rising income levels are contributing to increased vehicle ownership and advanced automotive component adoption.
Shared Mobility and Ride-Hailing: A Double-Edged Sword
While the personal vehicle segment is growing, the rise of mobility services like ride-sharing and car-hailing apps (e.g., Uber and Lyft) poses a challenge. These services reduce individual car ownership, potentially dampening vehicle sales and, by extension, the demand for automotive motors. However, the expanding use of electric and autonomous vehicles in these services may offset the decline, offering new opportunities for motor manufacturers.
Key Players Shaping the Market:
- BorgWarner Inc.
- Continental AG
- DENSO Corporation
- Robert Bosch GmbH
- Valeo
- Magna International Inc.
- Johnson Electric Holdings Limited
- Marelli Holdings Co., Ltd.
- Bühler Motor GmbH
- Inteva Products, LLC
These industry leaders are focusing on lightweight, energy-efficient motor solutions, increased automation, and integration with smart electronics to stay competitive in a rapidly evolving mobility ecosystem.
Challenges and Outlook
Despite the strong growth potential, challenges such as high cost, added vehicle weight, and performance limitations in extreme conditions may hinder adoption. Nevertheless, continuous R&D efforts and the development of next-gen smart motor technologies are expected to address these issues.
As the automotive industry pivots toward electrification, autonomy, and sustainable transportation, the demand for robust, multi-functional automotive motors is poised to rise significantly, making it a pivotal sector in the future of mobility.
