Electric Vehicle Motors: Introduction
- An electric vehicle motor is designed to convert electrical energy into mechanical energy for propulsion. It is also designed to enable regenerative braking in the vehicle.
Key Drivers of Electric Vehicle Motors Market
- Rise in demand for vehicle electrification across the globe, due to enactment of stringent emission norms across the globe to reduce the emission of harmful gases from vehicles, is likely to boost the electric vehicle motors market across the globe. Rise in demand for lightweight vehicles and fuel-efficient vehicles across the globe is likely to propel the electric vehicle motors market across the globe.
- Rapid expansion of electric vehicle component manufacturer across the globe is likely to boost the electric vehicle motor market across the globe. Rise in government investment to boost production of electric vehicles across the globe is likely to fuel the electric vehicle motors market across the globe. Major vehicle manufacturers are trying to increase their electric vehicle power output and also vehicle range, which is likely to boost the electric vehicle motors market across the globe.
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Europe & Asia Pacific to hold significant share of global Electric Vehicle Motors Market
- Europe is projected to hold for a major share of the global electric vehicle motors market due to a rise in the demand for electric vehicle across the region. Rapid expansion of electric vehicle component manufacturers across the region also boosts the electric vehicle motors market. Europe has presence of major original equipment manufacturers as well as tier-1 suppliers, including Continental AG and Denso Corporation who have major facilities that undertake research & development on the electric vehicle motors, is likely to propel the electric vehicle motors market across the globe.
- Followed by Europe, Asia Pacific is projected to hold a significant share of the global electric vehicle motors market due to an increase in production of electric vehicles across the region. Growing investment across the region for expansion of industries is likely to promote vehicle manufacturers to develop electric vehicle motors across the globe. Asia Pacific has major presence of electric vehicle parts manufacturing industries across China, India, and Japan is anticipated to propel the electric vehicle motors market across Asia Pacific.
Key Players Operating in Electric Vehicle Motors Market
The electric vehicle motors market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the electric vehicle motors market are:
- Robert Bosch GmbH
- Continental AG
- ZF Friedrichshafen AG
- Hitachi Automotive Systems Ltd
- Tesla Inc.
- Denso Corporation
- Mando Corporation
- BYD Auto Co. Ltd
- BorgWarner Inc.
- Metric Mind Corporation
- Allison Transmission Inc.
- Mitsubishi Electric Corporation
- Allied Motion Technologies Inc.
- Siemens AG
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Global Electric Vehicle Motors Market: Research Scope
Global Electric Vehicle Motors Market, by Electric Vehicle Type
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
Global Electric Vehicle Motors Market, by Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
Global Electric Vehicle Motors Market, by Motor Type
- DC Series Motor
- DC Brushless Motor
- Permanent Magnet Synchronous Motor
- Switched Reluctance Motor
Global Electric Vehicle Motors Market, by Power Rating
- <40 KW
- 40-80 KW
- >80 KW
Global Electric Vehicle Motors Market, by Sales Channel
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.