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PORTLAND, ORAGON, UNITED STATES, August 4, 2022 /EINPresswire.com / -- According to a recent report published by Allied Market Research, titled,“Automotive Motors Market by Type, Vehicle Type, Function, Technology, and Application: Opportunity Analysis and Industry Forecast, 2020–2027”, the global automotive motors market was valued at $28.72 billion in 2019, and is projected to reach $36.66 billion by 2027, registering a CAGR of 6.5% from 2020 to 2027.
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Key Market Players
BÜHLER MOTOR GmbH
INTEVA PRODUCTS, LLC
JOHNSON ELECTRIC HOLDINGS LIMITED
MABUCHI MOTOR CO., LTD
MAGNA INTERNATIONAL INC
MARELLI EUROPE S.P.A
PÓSITRON (PST ELECTRONICS LTD)
ROBERT BOSCH GmbH
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There numerous applications, which incorporate a motor for its function such as windshield wipers, sun roof, HVAC blowers, power seats, ventilated seats, power windows, sliding doors, folding side mirrors, fuel pump, water pump, power steering, radiator fan, engine fan, steerable headlights, door locks, and more. Each successive model of a vehicle brings additional safety features, better intelligence, and more convenience, which lead to the increase in use of motors in vehicles. For instance, a typical modern car on American road might easily include at least a dozen to 40 or more electric motors. Therefore, such applications, which employ the use of electric motors, are opportunistic for the key players operating in the automotive motors market.
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Autonomous vehicles, also known as self-driving vehicles, use artificial intelligence (AI) software, light detection & ranging (LiDAR), and RADAR sensing technology, which are further used to monitor a 60-meter range around the car and to form an active 3D map of the current environment, which is fueled by the use of electric motors.
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Key Findings Of The Study
In 2019, by type, the DC brushed motors segment generated the highest revenue.
In 2019, by vehicle type, the passenger cars segment was the highest revenue contributor.
In 2019, by function, the comfort & convenience segment was the highest revenue contributor.
In 2019, region-wise, Asia-Pacific contributed the highest revenue, followed by Europe, North America, and LAMEA.
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About Allied Market Research
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of ''Market Research Reports'' and ''Business Intelligence Solutions.'' AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
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