Demand for comfort, performance boosts automotive electric motors market
An analysis from Frost & Sullivan European Automotive Electric Motors Market finds that the market earned revenues of $8,303.1 million in 2012 and estimates this to reach $9,041.4 million in 2017. The research covers only comfort related and performance related electric motors. This includes, for instance, electric motors for power steering or electric coolant pumps. With a share of just over 50 per cent in 2012, performance related electric motors constituted the major product segment of the overall market.
“Performance related and comfort related electric motors are the key components of automotive systems,” noted Frost & Sullivan Industrial Automation & Process Control Research Analyst Maryna Osipova. “The increasing use of comfort and performance enhancing applications by automotive manufacturers is, thus, propelling market growth.”
Moreover, rising fuel costs are compelling end users to leverage power-saving applications. Advanced automotive electric motors support improved fuel economy. Electric motors in car applications also enable increased accuracy, better adjustment to surroundings and faster adaptation to driving conditions.
A key technological development has been the emergence of brushless electric motors. End-user investments in these motors are rising due to the advantages they offer over brushed equivalents, including longer life spans and the ability to maximise the efficiency of vehicle applications.
Due to the economic slowdown in Europe, automotive customers are reducing their expenditure on additional applications in their vehicles. As a result, revenues of optional electric motors – used in non-standard applications – are being affected.
To offset this, it is necessary for customers to recognise automotive electric motors as critical tools in optimising driving conditions. Customers need to perceive them not as options, but as standard systems, in every car.
“Automotive customers should be educated about the ways in which electric motors enhance comfort and performance functions in vehicles,” concluded Osipova. “Such strategies will sustain demand for all types of automotive electric motors.”
For more information visit https://www.industrialautomation.frost.com
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