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Electric Motors for IC Engine Vehicles Market Share and New Trends Analysis: By Its Type, Application, End-use and Forecast for period from 2024 to 2031

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The "Electric Motors for IC Engine Vehicles Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Electric Motors for IC Engine Vehicles market is expected to grow annually by 14.1% (CAGR 2024 - 2031).

This entire report is of 187 pages.

Electric Motors for IC Engine Vehicles Introduction and its Market Analysis

The Electric Motors for IC Engine Vehicles market research report analyzes the growing demand for electric motors in internal combustion engine (IC) vehicles. This technology aims to improve fuel efficiency and reduce emissions in traditional vehicles. Major factors driving revenue growth in this market include government regulations promoting clean energy alternatives, increased consumer awareness of environmental concerns, and advancements in electric motor technology. Key market players such as Hitachi, Aisin Seiki, Johnson Electric, Mitsuba, and Nidec are strategically positioned to capitalize on this trend. The report highlights the market potential for electric motors in IC engine vehicles and provides recommendations for companies to leverage this opportunity for future growth.

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The electric motors for IC engine vehicles market is witnessing significant growth due to the rising demand for electric vehicles across the globe. The market is segmented based on motor type into AC motor and DC motor, with applications in passenger cars and commercial vehicles. AC motors are more commonly used in passenger cars, while DC motors are preferred in commercial vehicles due to their higher torque capabilities.

Regulatory and legal factors play a crucial role in shaping the market conditions for electric motors in IC engine vehicles. Countries all over the world are implementing stricter emissions norms, which are driving the adoption of electric vehicles. In addition, government incentives and subsidies are further encouraging the shift towards electric vehicles powered by electric motors. However, regulatory uncertainty and varying standards across regions are posing challenges for manufacturers in the market.

Overall, the electric motors for IC engine vehicles market is poised for significant growth in the coming years, driven by the shift towards electric vehicles and the increasing focus on sustainability and environmental conservation. Manufacturers in this market need to navigate the complex regulatory landscape to capitalize on the opportunities presented by the growing demand for electric motors in IC engine vehicles.

Top Featured Companies Dominating the Global Electric Motors for IC Engine Vehicles Market

The global market for electric motors for IC engine vehicles is highly competitive, with key players such as Hitachi, Aisin Seiki, Johnson Electric, Mitsuba, and Nidec dominating the market. These companies offer a wide range of electric motors specifically designed for IC engine vehicles, which are seeing increasing demand due to the growing trend towards electrification of the automotive industry.

Hitachi is a major player in the electric motors for IC engine vehicles market, offering a range of high-quality motors for various applications. Aisin Seiki is another prominent player in this market, providing innovative electric motor solutions for IC engine vehicles. Johnson Electric is known for its efficient and reliable electric motors that cater to the needs of IC engine vehicles.

Mitsuba and Nidec are also key players in the electric motors for IC engine vehicles market, with a strong focus on research and development to offer advanced and sustainable solutions. These companies are driving the growth of the electric motors for IC engine vehicles market by providing cutting-edge technology that improves the performance and efficiency of IC engine vehicles.

In terms of sales revenue, Hitachi reported sales of $81 billion in fiscal year 2020, while Aisin Seiki reported sales of $36 billion. Johnson Electric reported sales of $ billion in the same year. These figures indicate the significant market presence and revenue-generating potential of these companies in the electric motors for IC engine vehicles market.

  • Hitachi
  • Aisin Seiki
  • Johnson Electric
  • Mitsuba
  • Nidec

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Electric Motors for IC Engine Vehicles Market Analysis, by Type:

  • AC Motor
  • DC Motor

AC motors and DC motors are two main types of electric motors used in IC engine vehicles. AC motors are more commonly used in electric vehicle applications due to their higher efficiency and power output. DC motors are often used for smaller vehicles or specific applications due to their simplicity and cost-effectiveness. The growing demand for electric motors in IC engine vehicles is primarily driven by the increasing need for fuel efficiency, environmental concerns, and government regulations promoting the adoption of clean energy technologies. Additionally, advancements in motor technology are leading to improved performance and range in electric vehicles, further boosting market demand.

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Electric Motors for IC Engine Vehicles Market Analysis, by Application:

  • Passenger Cars
  • Commercial Vehicles

Electric motors are increasingly being used in IC engine vehicles, such as passenger cars and commercial vehicles, for various applications. These motors are primarily used for hybridization, regenerative braking, start-stop functionality, and electric power steering. The fastest growing application segment in terms of revenue is the electrification of powertrain systems in passenger cars, as automakers are focusing on reducing emissions and improving fuel efficiency. This trend is driving the adoption of electric motors in IC engine vehicles, as they offer a clean and efficient alternative to traditional combustion engines.

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Electric Motors for IC Engine Vehicles Industry Growth Analysis, by Geography:

North America:

  • United States
  • Canada

Europe:

  • Germany
  • France
  • U.K.
  • Italy
  • Russia

Asia-Pacific:

  • China
  • Japan
  • South Korea
  • India
  • Australia
  • China Taiwan
  • Indonesia
  • Thailand
  • Malaysia

Latin America:

  • Mexico
  • Brazil
  • Argentina Korea
  • Colombia

Middle East & Africa:

  • Turkey
  • Saudi
  • Arabia
  • UAE
  • Korea

The market for Electric Motors for IC Engine Vehicles is expected to witness significant growth in regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Among these regions, Asia-Pacific is expected to dominate the market with the highest market share percent valuation, driven by countries like China, Japan, South Korea, and India. The increasing adoption of electric vehicles and strict emissions regulations in these regions are contributing to the growth of the market. Europe is also expected to have a substantial market share due to stringent emission standards and supportive government initiatives. Latin America and the Middle East & Africa regions are expected to gradually increase their market share as well.

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