Window Lift Motors Market Forecasted to Reach $3.8 Billion by 2030
The window lift motors market is anticipated to grow from USD 3.5 billion in 2024 to USD 3.8 billion by 2030, at a compound annual growth rate (CAGR) of 1.6%, according to a new report by MarketsandMarkets. The expansion is driven by increasing consumer demand for convenience features, such as power windows, now standard in modern vehicles.
Key advancements in motor technologies, including the introduction of smart motors and 48 V window lift motors, are expected to significantly impact market growth. For instance, the 24V segment of window lift motors is projected to experience substantial growth in North America, particularly in commercial vehicles aimed at improving power output and efficiency. Volvo North America introduced a new VNL Truck in January 2024, featuring a 24 V electric system to mitigate electrical issues.
The rear windows segment is anticipated to be the fastest-growing market position. This growth is fueled by customer demand for enhanced vehicle comfort and convenience, especially in medium-priced and luxury passenger cars, which come equipped with rear power windows as a standard feature. Automakers like BMW and Opel are incorporating these features in various models, boosting this market segment.
Germany is predicted to lead the European market due to its robust automotive industry and high vehicle production rates. The nation is home to major automakers such as BMW, Volkswagen, and key window lift motor manufacturers like Robert Bosch GmbH and Brose Fahrzeugteile GmbH & Co. KG.
Recent industry developments include significant moves by key market players. For instance, Denso Corporation established a new office in Tokyo to enhance communication with stakeholders, and STMicroelectronics launched an evaluation board to drive window lift motors with advanced anti-pinch mechanisms.
Prominent players in the window lift motors market include Denso Corporation, Brose Fahrzeugteile SE & Co. KG, Robert Bosch GmbH, Mitsuba Corp., and HI-LEX Corporation.
Source: Content received from a press release distributed by PR Newswire.