Electric Vehicle Motor Key Companies Analyzed In Report Are: Continental AG (Germany), Hitachi Automotive Systems, Ltd. (Japan), Tesla, Inc. (U.S.), BYD Auto Co., Ltd. (China), Denso Corporation (Japan), Metric Mind Corporation (U.S.), Mitsubishi Electric Corporation (Japan), Allied Motion Technologies Inc. (U.S.), Robert Bosch GmbH (Germany), and Siemens AG (Germany).
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One of the drivers for the growth of the market is the rise in the demand for improved driving range of electric vehicles. The range and emission levels in electric vehicles are dependent on the electric powertrain control systems. Motors play a vital role in controlling the electric powertrain. Improvements in technology of manufacturing electric vehicle motor, are helping in the improvement of the driving range, thereby driving the growth of the market.
Globally, many countries have implemented stringent emission norms for lowering GHG emissions for reducing the causes of global warming. Therefore, it mandates the automotive manufactures to develop zero emission vehicles for meeting the more stringent emission standards. These regulations have led to an increased focus on production of more efficient electric vehicles, thereby driving the market growth during the forecast period. The other factors driving the growth of the market are introduction of tax incentives, and subsidies for EV manufacturers and end-users.
This study provides an overview of the global electric vehicle motor market, tracking three market segments across four geographic regions. The report studies key players, providing a six year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global electric vehicle motor market by motor type, power rating and regions.
The scope of the study segments the global electric vehicle motor market by motor type, power rating and regions.
By Motor Type:
DC brushed motors
DC brushless Motors
Induction (Asynchronous) motor
Synchronous Motor
Switched Reluctance motor
Based on motor type, the electric vehicle motor market has been segmented as DC Brushed Motors, DC Brushless Motors, Induction (Asynchronous) Motor, Synchronous Motor and Switched Reluctance Motor. Amongst these, DC Brushed Motors is expected to dominate the growth of the market. In DC brushed motor, brushes along with commutators provide a link between external supply circuit and armature of the motor. Brushes can be made up of various materials such as carbon, copper, carbon graphite and metal graphite. DC brushed motors possess the ability to achieve high torque at low speeds, which makes them suitable for use in electric vehicles.
By Power Rating:
<40 kW
40 kW-80 kW
>80 Kw
Based on power rating, the global market has been segmented as <40 Kw, 40 Kw-80 Kw and >80 Kw. Amongst all types of power rating, the >80 kW segment is expected to dominate the electric vehicle motors market by the end of forecast period. These types of motors are majorly used by the automotive manufacturers in luxury vehicles. It has also been forecast that over the forecast period there would be a significant reduction in prices of the motor. This will, in turn, increase the adoption of high-performance motors in electric vehicles, thereby propelling the growth of the market.
Regional Analysis:
Geographically, the global electric vehicle motor market has been divided into four major regions of North America, Europe, Asia Pacific and Rest of the World. Asia Pacific region is expected to contribute the highest to the electric car motor market. The rapid increase in production and sales of electric vehicles in countries such as Japan and China and the presence of original equipment manufacturers, will boost the growth of the Asia Pacific market.
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