Global Automotive Electric Motors for EV Market - Forecasts and Trends (2017 - 2022)

Published - Feb 2017 | Category - Automobile & Transportation | No. of Pages - 125 | Published By - Mordor Intelligence

Report Highlights

An electric motor is an electromechanical device that converts electrical energy into mechanical energy. The market for electric motors is expected to be significantly driven by the widespread adoption of electric vehicles in various countries. Integration of motors has been increasing, with an increase in the number of manufacturers making motors with integral controls and gearing. The highly efficient motors, also known as premium efficiency motors, are gaining importance over standard motors due to their varied benefits such as longer operating life, low energy consumption, low maintenance and tolerance for fluctuating voltages. Low energy consumption is an advantage of energy efficient motors over standard motors. Thereby, the environmental advantages offered by these motors make them acceptable in electric vehicles. The use of premium motors increases the efficiency of the application by approximately 20% as compared to standard motors, which in turn saves the cost of energy consumed. The need for improved efficiency and low power consumption will continue to generate demand for high-efficiency electric motors.

The market for electric motors for electric vehicles is expected to reach USD 20.35 billion by the end of 2021. The global market for electric motors is projected to reach USD 121 billion by 2020, driven by the growing global activity in the electric vehicle industry. There are a lot of electric motors out there but the majority of the motors used in electric cars are: the series wound DC motor, the permanent magnet motor, and the 3-phase AC motor. AC electric motor is more popular than DC electric motor.

Major electric vehicle manufacturers like GM, Ford, and Toyota make electric cars that use AC electric car motors. The AC system is perfectly set to generate regenerative energy for braking as readily as it gives out energy under acceleration. A lot of energy from the battery can be recovered during the normal driving process using the AC system motors. However, the DC motors usually cost less than AC motors and are easily available.

Europe is expected to dominate the market by the end of 2015 and is expected to continue to do so till the end of the forecast period. Asia-Pacific countries are forecasted to have the highest growth in the electric motor for hybrid and pure electric vehicles. The market is fragmented into regional and local players and thereby, strategic mergers and acquisitions are extensive in the market.

The market is segmented by vehicle type, motor type, application, and geography.

Some of the key players in the market are:

Allied Motion Technologies
Siemens AG
What the Report Offers

Market definition along with identification of key drivers and restraints for the market.
Market analysis with region specific assessments and competition analysis on a global and regional scale.
Identification of factors instrumental in changing the market scenario and rising prospective opportunities along with the identification of key companies that can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
Identification and analysis of the macro and micro factors that affect the industry on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.

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