The North America automotive motors market is projected to grow at a significant CAGR of 7.4% during the forecast period. The key factors that drive the market include the increased need for safety features and convenience in a vehicle. The advancements in vehicle manufacturing and the advent of electric vehicles owing to the increased focus towards the adoption of renewable energy among the people further drive the growth of the market over the forecast period. Besides, the increased focus of the government towards the adoption of electric vehicles also supports the growth of the market.
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The North America automotive motors market is segmented into the type, vehicle type, and distribution channel. Based on the type, the market has been sectioned as brushless dc motor & stepper motor, brushed dc motor, ac induction motor, and others. By vehicle type, the market is segmented into passenger vehicles, commercial vehicles, and electric vehicles. Commercial vehicles segment is sub-segmented into light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and others. Whereas the electric vehicles segment is further segmented into battery electric vehicles (BEVs), plug-in electric vehicles (PEVs), and hybrid electric vehicles (HEVs). Based on the distribution channel, the market is segmented as OEM and aftermarket. The OEM segment holds a significant share in the market.
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North America Automotive Motors Market Segmentation
By Type
· Brushless DC Motor& Stepper Motor
· Brushed DC Motor
· AC Induction Motor
· Others
By Vehicle Type
· Passenger Vehicles
· Commercial Vehicles
· Light Commercial Vehicles (LCVs)
· Heavy Commercial Vehicles (HCVs)
· Others (Buses & Coaches)
Electric Vehicles
· Battery Electric Vehicles (BEVs)
· Plug-in Electric Vehicles (PEVs)
· Hybrid Electric Vehicles (HEVs)
By Distribution Channel
· OEM
· Aftermarket
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
