Press release
Electric Motors for Electric Vehicle Market To Experience A Tremendous Growth by 2018 – 2028
Electric Motors for Electric Vehicle Market Research Study Tracks Latest Developments and Future OutlookGlobal Electric Motors for Electric Vehicle market is set to be influenced by a bevy of factors, including COVID-19 impact and broader public-private push toward inducing momentum. In a new comprehensive study, Fact.MR offers in-depth analysis and insights on how Electric Motors for Electric Vehicle sales will grow/decline during the forecast period (2018-2028).
In addition to offering quantitative analysis on Electric Motors for Electric Vehicle demand, the study also offers readers analysis on key factors that are likely to drive the market. From macroeconomic factors to subtle microeconomic factors, the study analyzes the minutest of details that have the potential to impact Electric Motors for Electric Vehicle industry during the assessment period.
The study also offers readers in-depth insights on the key challenges for Electric Motors for Electric Vehicle companies during the assessment period. The key challenges faced by OEMs as we as suppliers is also discussed in detail in the study.
What Big will be the Electric Motors for Electric Vehicle Market in 2021?
The study recalibrates the impact of COVID-19 on Electric Motors for Electric Vehicle sales, offering an analysis on short-term and long-term forecast. The impact of broader trends in the automotive industry have also been analyzed in the study.
Globally, automotive industry is looking at a period of recovery in 2021, as success with vaccine inoculation has raised the hopes of controlling the pandemic. Many automotive companies are also focusing on increasing exports to countries where the pandemic is less severe.
China, the largest automobile market in the world, is going through a period of ascendancy. The government in China is focusing on boosting infrastructure, whereas consumer sentiment is upbeat after a challenging 2020.
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In US and Europe, consumer sentiment is moving toward cautious optimism, however, it will be a long road to recovery in these countries. Still, there is growing consensus that 2021 will be a far better year for automotive sales in Europe and US.
A key area of concern for global automakers is the devastating second wave in India, one of the largest automobile markets globally. Things were looking up in India in first quarter of 2021, however, the resurgence of a virulent strain has led to lockdown and economic devastation. How all these developments impact automotive market in general and Electric Motors for Electric Vehicle sales in particular remains to be seen.
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Global Electric Motors for Electric Vehicle Market: Dynamics
Moreover, efforts by regional governments around the world to curb noxious emissions produced by fossil fuel-powered vehicles is driving the global electric motors for the electric vehicle market. However, with a forecast volume of electric vehicles on road by 2025, insufficient charging infrastructure for electric vehicles to impact the demand for electric motors for electric vehicles. Some of the major OEMs are investing heavily in electric vehicles which will induce ballooning in the global electric motors for electric vehicles market.
Key problems linked with electric motors for electric vehicles include the cost of the fuel cell, feasibility to produce fuel, and availability of fueling stations. Prevalence of conventional vehicles coupled with the high price of electric vehicles across Asia, Latin America, and the Middle East is foreseen to slow down the adoption of electric vehicles in the market; thereby, hampering the global electric motors for electric vehicles market.
Apart from this, most of the OEMs utilize permanent magnet motors that rely on the metal due to the fact that they are usually stronger, lighter, and more efficient than induction electric motors for electric vehicles. To remain competitive in the global electric motors for electric vehicles market, manufacturers of electric motors for electric vehicles aim to decrease electric motors cost, volume, and weight while increasing performance, efficiency, and maintaining reliability.
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Regional Segments Analyzed Include
North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, N. Africa)
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