LONDON, July 26, 2013 /PRNewswire/ -- The intensifying demand for comfort and enhanced control devices in vehicles, fierce competition between automotive manufacturers, the rising appeal of brushless technology, and the growing number of electric motors for a single application will drive the steady development of the European automotive electric motors market over 2013-2017.
New analysis from Frost & Sullivan (http://www.industrialautomation.frost.com), European Automotive Electric Motors Market, finds that the market earned revenues of $8,303.1 million in 2012 and estimates this to reach $9,041.4 million in 2017. The research covers comfort related and performance related electric motors. With a share of just over 50 per cent in 2012, performance related electric motors constituted the major product segment of the overall market.
"Performance related and comfort related electric motors are the key components of automotive systems," noted Frost & Sullivan Industrial Automation & Process Control Research Analyst Maryna Osipova. "The increasing use of comfort and performance enhancing applications by automotive manufacturers is, thus, propelling market growth."
Moreover, rising fuel costs are compelling end users to leverage power-saving applications. Advanced automotive electric motors support improved fuel economy. Electric motors in car applications also enable increased accuracy, better adjustment to surroundings and faster adaptation to driving conditions.
A key technological development has been the emergence of brushless electric motors. End-user investments in these motors are rising due to the advantages they offer over brushed equivalents, including longer life spans and the ability to maximise the efficiency of vehicle applications.
Due to the economic slowdown in Europe, automotive customers are reducing their expenditure on additional applications in their vehicles. As a result, revenues of optional electric motors – used in non-standard applications – are being affected.
To offset this, it is necessary for customers to recognise automotive electric motors as critical tools in optimising driving conditions. Customers need to perceive them not as options, but as standard systems, in every car.
"Automotive customers should be educated about the ways in which electric motors enhance comfort and performance functions in vehicles," concluded Osipova. "Such strategies will sustain demand for all types of automotive electric motors."
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