The US automotive motors market is projected to grow at a significant CAGR of 7.2% during the forecast period. The key factors that drive the US automotive motors market include the increased preferences towards the adoption of electric vehicles in order to overcome issues such as oil dependence, global warming, and environmental pollution. Besides, the rising government initiatives and subsidies to promote the manufacturing and adoption of electric vehicles also supports the growth of the market over the forecast period. Thus, due to the higher performance, low maintenance, fast speed, and rapid response, the electric car manufacturers are preferring advanced automotive motors in their vehicles, thereby, driving the growth of the market.
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The US automotive motors market has been segmented by type, vehicle type, and distribution channel. By type, the market is segmented as brushless dc motor & stepper motor, brushed dc motor, ac induction motor, and others. On the basis of vehicle type, the market is divided into passenger vehicles, commercial vehicles, and electric vehicles. Passenger vehicle is expected to maintain a substantial market share during the forecast period. 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.
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US 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.)
