Automotive Motor Market
Automotive Motor Market Size And Forecast
According to Verified Market Research, the Global Automotive Motor Market was valued at USD 26.78 Billion in 2018 and is projected to reach USD 40.21 Billion by 2026, growing at a CAGR of 5.2% from 2019 to 2026.
Global Automotive Motor Market Outlook
The major factor responsible for driving the growth of the market is the increasing production of the vehicles. In addition, the growing awareness among the population for the safety features and better driving experience led to imposing the positive factor on the market growth. Moreover, the rise in the adaption of the electric vehicles, owing to environmental safety concerns is another factor contributes to accelerating the market growth. However, the huge cost associated with systems acts as the restricting factor for the market growth.
Global Automotive Motor Market Competitive Landscape
The Global Automotive Motor Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Siemens AG, Continental AG, Magna International, Valeo S.A., Nidec Corporation, Robert Bosch GmbH, Denso Corporation, Mitsubishi Electric Corporation, Mahle Group, and Borgwarner Inc.
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