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Automotive Electric Motors for EV Market Size, Share and Forecast 2026

(IT-NEWSWIRE.COM, October 11, 2019 ) Market Overview

• An electric motor is an electrical machine that converts electrical energy into mechanical energy. Most electric motors operate through the interaction between the motor's magnetic field and electric current in a wire winding to generate force in the form of rotation of a shaft. Electric motors can be powered by direct current (DC) sources, such as from batteries, motor vehicles or rectifiers, or by alternating current (AC) sources, such as a power grid, inverters or electrical generators. The motors are finding their application in the automotive sector to due to the Electric Vehicle rise, and they require motors for driving using battery.



Market Dynamics

• The global Automotive Electric Motors for EV is primarily driven by rise in demand for vehicles running on alternative fuels such as EVs coupled with introduction of regulation pertaining to reducing carbon footprint and global warning will fuel growth in the global automotive electric motor for EV market during the forecast period.

• According to International Energy Agency (IEA), in 2017, more than one Billion EVs were sold globally, with countries like Norway, China, and the US dominating the global EVs market in terms of market share.

• With the stringent government rules and regulations with respect to vehicular emission will also boost the market for the Electric Vehicle market all around the world, which will further increase the market for the electric motors for the production of Electric Vehicles.

• For Instance, Norway has become the world’s EV capital, thanks to generous purchase subsidies and other incentives. EVs are exempt from acquisition tax and from the country’s 25 percent value-added tax. They also enjoy privileged status on the roads, with exemptions from tolls, free ferry rides and, in some cities, free parking. Last year, pure electric cars accounted for over 20% of new registrations.

• However, the shortage of EV charging stations has been hindering the adoption of these vehicles, which in turn, is expected to restrict the usage of electric motors for electric vehicles.



Market Segmentation

• By Vehicle type, the global Automotive Electric Motors for EV market is segmented into Pure Electric Vehicles (PEV), Hybrid Electric Vehicles (HEV), Plug-In Hybrid Electric Vehicles (PHEV). In 2018, Plug-In Hybrid Electric Vehicles (PHEV) dominated the global Automotive Electric Motors for EV market and is expected to retain its dominance in the forecasted period, mainly due to major competitors in the market are launching PHEV with the environmental safety factors as well as features like external power source can be used for charging the cars’ battery. Unlike HEVs and PHEVs, BEVs does not have petrol engine, fuel tank or exhaust pipe and are fully electric vehicles with batteries which can be charged via charging stations and power outlet. It is expected that PHEV market will grow at a CAGR of ~XX% during the forecast period.

• For instance, in February 2019, Audi has announced that they will release a whole new range of PHEVs based on existing cars at the upcoming Geneva Motor Show. The launch will be limited to Audi A8, A7 Sportback, A6 and Q5 models only. All of which will get two variant options, with variations to the performance and the equipment. Driving range from Audi’s 14.1 KwH battery rated to 385 Volts is expected to be 40 kms according to the more stringent WLTP cycle.

• By Motor, the global Automotive Electric Motors for EV market is segmented into AC Motor and DC Motor. DC Motor has the dominant position in the Automotive Electric Motors for EV market due to following advantages higher speed ranges, noiseless operation, faster dynamic response, better speed versus torque characteristics and others. However, AC motor market will be rising with double digit growth rate due the reason that AC electric car motors generate favorable torque, thus helping the transmission to last longer and have low cost than DC motor with permanent magnet.



Geographical Analysis

By geography, the global Automotive Electric Motors for EV market is segmented into

• North America,

• Asia-Pacific (APAC),

• Europe,

• South America,

• Middle East

• and Africa (MEA).





Competitive Analysis

• Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Automotive Electric Motors for EV is a competitive market with the presence of various global and regional players in the market.

• The major players Denso, Mitsubishi Electric, Emerson Electric Company, Baldor Electric Company, and Hitachi Automotive Systems. Other key players in the market include Siemens Ag, Yasakawa Electric, Robert Bosch Gmbh, Toshiba Corporation, and Magna International.





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pr@datamintelligence.com

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