Checking in on the much-hyped EV motor market as we enter the new year
The “Electric Vehicle Motor Market by Other 1 (MPR, HPR, and LPR) and Geography (APAC, Europe, North America, South America, and MEA) – Forecast and Analysis 2021-2025” report was added to Technavio’s offering January 5. Report producer Technavio is ISO 9001:2015 certified. In this case, it looks at the much-hyped EV motor market—which, as our readers will know, is seeing increased overlap with the high-efficiency industrial electric motors they’ve long been familiar with.
Attractive Opportunities in Electric Vehicle (EV) Motor Market by Power Rating and Geography – Forecast and Analysis 2021-2025
Per the report, “49% of the market’s growth will originate from APAC during the forecast period. China is the key market for electric vehicle motors in APAC. Market growth in APAC will be faster than the growth of the market in other regions.”
The increasing demand for EVs from countries such as China, Japan, India, Singapore, Thailand, and South Korea is expected to facilitate the electric vehicle motor market growth in APAC over the forecast period.
The potential growth difference for the electric vehicle motor market between 2020 and 2025 is listed as USD 6.31 billion.
The increasing sales of EVs and declining prices of lithium-ion batteries are some of the key market drivers. However, factors such as lack of operational infrastructure in emerging markets will challenge market growth. The holistic analysis of the drivers & challenges will help in deducing end goals and refining marketing strategies to gain a competitive edge. The electric vehicle motor market analysis report also provides detailed information on other upcoming trends that will have a far-reaching effect on the market growth.
The electric vehicle motor market report is segmented by power rating (MPR, HPR, and LPR) and geography (APAC, Europe, North America, South America, and MEA).
The electric vehicle motor market share growth by the mid-power rating (MPR) segment will be significant for revenue generation. MPR motors are the preferred motors for use in full or plug-in hybrid powertrains and low-range pure EVs.
Some Companies Mentioned with their Offerings
The EV motor market is fragmented and the vendors are deploying growth strategies such as focusing on developing modern technologies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
Allied Motion Technologies Inc. – The company offers electric vehicle motors namely WheelMax.
Continental AG – The company offers drive axle for electric vehicle motors.
DENSO Corp. – The company offers motor-generators for electric vehicle motors.
Ford Motor Co. – The company offers electric vehicle motors that have the capacity to produce equal power to V-12 engine.
Hitachi Ltd. – The company offers Hybrid Electric Vehicle Motor, Hybrid Electric Vehicle Traction Motor.
Electric Vehicle Charging Infrastructure Market in APAC –The electric vehicle charging infrastructure market share in APAC is expected to increase by USD 15.70 billion from 2021 to 2025, and the market’s growth momentum will accelerate at a CAGR of 29.58%.
Electric Vehicle Relays Market –The electric vehicle relays market has the potential to grow by USD 21.42 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 31.43%.