Electric Vehicle Motor Industry Outlook:
Electric vehicle motor market has seen a remarkable growth in the global market and it has been observed that, its demand in future is expected to grow with the CAGR of ~20%.
The key factor driving the global electric vehicle motor market growth is the increase in demand for improving the driving range of electric vehicles because the range of the electric vehicle heavily depends on the electric powertrain control systems. Other factors contributing to the market growth include government regulations to reduce carbon emissions, the introduction of tax incentives, and government subsidies for electric vehicles (EV) manufacturers and end users in order to encourage the use of EV.
The electric motor helps to convert electrical energy into mechanical energy for propulsion of the vehicle, with the objective of enabling regenerative braking or charging energies to generate electricity stored on board. Market Research Future (MRFR) has published a research report about the global electric vehicle motor market that anticipates hike for this market at 20% CAGR (Compound Annual Growth Rate) during the forecast period between 2020 and 2027.
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List of the companies profiled in the global electric vehicles (EV) market research report are –
- Nissan Motor
- Tesla Inc
- Toyota Motor
- Ford Motor
- Volkswagen
- BMW
- General Motors
- Daimler AG
- Hyundai Motor
- Mitsubishi Motors
- Among others.
Industry News
- In April 2021, Toyota unveiled the new LS and Mirai models in Japan, which feature advanced driving assistance technologies.
- In April 2021, BYD introduced four new electric vehicle models equipped with Blade batteries in Chongqing. Tang EV, Qin Plus EV, Song Plus EV, and E2 2021 are new vehicle models with improved battery safety measures.
- In April 2021, Volkswagen revealed the 7-seater EV ID.6 Crozz and ID.6 X, built-in collaboration with FAW and SAIC in China. The vehicles will only be available in China. It is available in two battery sizes, 58 kWh and 77 kWh, as well as four powertrain configurations.
- In March 2021, Volvo unveiled its new C40 Recharge model. The vehicle is developed as a fully electric vehicle and has several features with the XC60 model.
The global electric vehicle motor market has been segmented on the basis of motor type, power rating, and lastly, region. By motor type, this market has been segmented into Direct Current (DC) brushed motors, DC brushless motors, induction (asynchronous) motor, switched reluctance motor, and synchronous motor. Based on power rating, the market has been segmented into below 40 Kilo Watt (KW), 40 KW-80 KW, and above 80 KW.
The regional segmentation of the global electric vehicle motor market can segment the market into the regional markets known as North America, Europe, Asia Pacific, and rest of the world (RoW). During the forecast period, the Asia Pacific market is expected to generate the highest revenue compared to other regional markets due to the rapid increase in production and sales of electric vehicles in countries China and Japan. The presence of many original equipment manufacturers (OEMs) is also boosting the market growth. Another important country-specific market is in India, followed by the remaining countries of the Asia Pacific region.
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North America is another important regional market due to the high disposable income of end users, established automotive industry, government regulations to regulate carbon emissions, large customer base, and the presence of many key market players in this region. Essential country-specific markets in this region are Canada and the United States of America (USA).
Europe is a powerful regional market due to the high density of population, government regulations to regulate carbon emissions and the presence of many key market players. The crucial country-specific markets in this region are France, Germany, Italy, and the United Kingdom (UK), followed by the remaining countries of Europe.
Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
Continued………
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