Press release
Electric Vehicle Motors Market Analysis 2018 To 2023: By Industry Size, Share, Trends, Competitive, and Regional Forecast
Global Electric Vehicle Motors Market Analysis:
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.
Electric Vehicle Motors Market 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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The increase in sales of electric vehicles is expected to lead to an increase in demand of technologically advanced electric motor for cars. This is expected to intensify the level of competition among electric vehicle motor manufacturers. Stringent environmental norms, and rise in the demand for vehicles with better fuel efficiency drive the automotive manufacturers to install lighter components for weight reduction of electric vehicles. This would further help meet the demand for lower emissions and better mileage.
Electric Vehicle Motors Market Segmentation:
Based on motor type, the global 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, induction (asynchronous) motor segment is expected to hold the largest market share and grow significantly over the forecast period. Three phase induction motor is widely used in electric vehicles, owing to features such as high efficiency, good speed regulation and absence of commutators. The three phase AC supply is connected to stator winding, due to which revolving magnetic field is established. This magnetic field interacts with stationary rotor conductors, and induced current flows through rotor conductors. Induced current establishes a magnetic field, which gives rise to unidirectional torque.
Electric Vehicle Motors 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.
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
By Power Rating:
80 kW
By Regions:
North America
Asia Pacific
Europe
Rest of the World
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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
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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