Automotive Electric Engine Market: Segmentation and Company Analysis to 2025
Rising demand for electric vehicles and the increasing efforts being undertaken by OEMs as well as governments of various nations to develop and implement electric vehicles on the road are expected to drive the automotive electric engine market during the forecast period. Stringent rules and regulations implemented by the governments of various countries across the world in order to reduce vehicular emissions is anticipated to further boost the automotive electric engine market in the near future.
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Moreover, using high-horsepower motors in applications where they are run infrequently can result in costly electrical demand charges which results in a high cost per hour of operation. These minor drawbacks of electric motors are expected to hamper the growth of the automotive electric engine market during the forecast period.
Based on the type of motor, the automotive electric engine market can be segmented into DC motor and AC motor. Currently, DC motor is most commonly utilized to drive the electric engine in electric vehicles. This is primarily due to the numerous benefits offered by the DC motor over the AC motor, such as simple installation and low cost. This is expected to propel the automotive electric engine market during the forecast period.
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The DC motor offers several advantages over the AC motor in an electric engine; however the DC motor tends to overheat after excessive overriding. This is estimated to pose serious issues related to safety and security of the driver. In view of this, electric vehicles powered by an AC motor have been developed by Tesla and Nissan.
Electric vehicles powered by an AC motor are more expensive than electric vehicles powered by a DC motor, since an AC motor contains a speed control circuitry. However compared to a DC motor, an AC motor is safer and simpler to install on the electric vehicles. While a DC motor can short-circuit the entire battery pack and catch fire, an AC inverter simply fails and the car stops. This is expected to boost the AC motor segment toward the end of the forecast period when the electric vehicle market reaches the maturity stage.
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Based on vehicle type, the automotive electric engine market can be classified into BEV (battery electric vehicle), PEV (plug-in electric vehicle) and HEV (hybrid electric vehicle). Based on vehicle type, the HEV segment is expected to witness considerable growth during the forecast period since HEV combines a conventional internal combustion engine (ICE) with an electric propulsion system. The electric propulsion system is intended to achieve fuel efficiency and better vehicle performance.
Based on type of drive motor, the automotive electric engine market can be segregated into commutator motor and commutator-less motor. The commutator motor segment is further sub-segmented into self-excited and separately-excited. The self-excited motor can be further split into series motor and shunt motor. While, the separately-excited drive motor can be further classified into field excited and PM excited. The commutator-less motor segment can be further sub-segmented into induction motor, synchronous motor, PM brushless motor, switched reluctance motor, and PM motor.
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