The Asia-Pacific Automotive Motor market is projected to grow at a significant CAGR of 9.7% during the forecast period. The growth is mainly attributed to the future prospect of growth in the automotive industry in the region, which is primarily involved in the development of innovative technologies in the region. The traditional vehicle is frequently being replaced by electric vehicles, which is significantly driving the growth of the market. Toyota Prius, Chevy Malibu, and Honda Insight are some instances of parallel hybrid vehicles, which are commercially available in the market across the region. To be employed in electric and hybrid vehicles, a variety of electric motors are developed in recent years, which further aids the growth of the market.
Browse the full report description of "Asia-Pacific Automotive Motors Market Size, Share & Trends Analysis Report by Type (Brushless DC & Stepper Motor, Brushed DC Motor, AC Induction Motor, and Others), By Vehicle Type (Passenger Vehicles, Commercial Vehicles, and Electric Vehicles), and by Distribution Channel (OEM and Aftermarket) Forecast, 2020-2026" at https://www.omrglobal.com/industry-reports/asia-pacific-automotive-motors-market
Further, automation and upgradation of technology are propelling the demand for the Asia-Pacific automobile motors market. Besides, the market is also driven by the rapid increase in the production of vehicles, increasing efforts being undertaken by OEMs, and several government initiatives in order to introduce electric vehicles on the road. The presence of a large customer base coupled with the cohesive government incentives and subsidies to promote the adoption of electric vehicles in the region will also drive the market growth. For instance, initiatives such as EV30@30 are driving the rapid adoption of electric vehicles in the region which in turn will drive the growth of the automotive motors industry over the forecast period.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected region/segment
Asia-Pacific Automotive Motor Market – Segmentation
By Type
By Vehicle Type
o Light Commercial Vehicles (LCVs)
o Heavy Commercial Vehicles (HCVs)
o Others (Buses & Coaches)
o Battery Electric Vehicles (BEVs)
o Plug-in Electric Vehicles (PEVs)
o Hybrid Electric Vehicles (HEVs)
By Distribution Channel
Asia-Pacific Automotive Motor Market – Segmentation by Country
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