Automotive induction motor is an electric motor which produces driving torque (rotary force) in the vehicle. In automotive induction motor, a magnetic field is created through an alternating supply fed of the stator winding which induces driving current into rotor windings. Interaction of the magnetic field created by the current of the rotor leads to rotor rotation. Presently, the automotive industry is under immense pressure to adapt with technological advancements and changing preferences of customers. Led by constant developments in technology, automobile manufacturers are focusing on manufacturing efficient automotive motors for various systems. Rise in the demand for products with safety features and convenience and increase in the production of vehicles are key factors expected to drive the automotive induction motors market in the next few years. Other prominent factors responsible for growth of the market are rise in the electrification of vehicles and mandatory usage of safety technologies such as electronic stability control and antilock braking systems in passenger cars in developed regions such as Europe and North America.
The global automotive induction motors market can be segmented based on type, application, vehicle, electric vehicle, sales channel, and region. Based on type, the automotive induction motors market can be divided into three-phase induction motors and one more segment. Rise in the demand for electric vehicles in the global market is likely to propel the demand for automotive induction motors during the forecast period. Based on application, the automotive induction motors market can be segmented into vehicle traction and four more segments. The vehicle traction segment is anticipated to expand during the forecast period. The government straiten norm towards the vehicle pollution the automaker are more concentrate on electric vehicle is projected to boost the vehicle traction segment in the near future. In terms of vehicle, the automotive induction motors market can be segregated into passenger vehicles and commercial vehicles. The passenger vehicles segment is estimated to expand during the forecast period, due to rise in the per capita income of customers. Also, auto manufacturers offer vehicle loan at a very low interest rate, which is expected to augment the demand for passenger vehicles in the near future.
Based on electric vehicle, the automotive induction motors market can be segmented into battery electric vehicles and two more segments. The battery electric vehicles segment propels the demand for induction motors for engine drive. With rising concerns about the environment, people have shifted toward electric vehicles. This is estimated to boost the battery electric vehicles segment in the near future. In terms of sales channel, the automotive induction motors market can be classified into OEM and aftermarket. The OEM segment is expected to expand significantly during the forecast period, due to longer life span and lower maintenance of automotive induction motors compared to other DC motors.
Geographically, the global automotive induction motors market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Europe dominates the global automotive induction motors market, followed by North America and Asia Pacific. A few countries in Europe such as the Netherlands, Norway, France, and Ireland witness high adoption of electric vehicles. Rise in the production of electric vehicles in Europe is expected to drive the market for automotive induction motors in the region from 2018 to 2026.
Key player operating in the global automotive induction motors market are WEG Electric Corp., ABB Ltd., Emerson Electric Co., Nidec Motor Corporation, and Siemens AG.
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