Global Electric Motors for Electric Vehicle Market: Introduction

In an electric vehicle drive system, an electric motor for electric vehicle converts the stored electrical energy in a battery to mechanical energy. Today, electric mobility on the back of technological improvements are expanding lucrative opportunities for the companies involved in the manufacturing of electric motors for electric vehicles. Electric motors for electric vehicles should have important attributes like simple design, high specific power, low maintenance cost, and robust control.

Importantly, government policies will continue to be the linchpin for electric motors for electric vehicle market over the promising years of the forecast. The rapid domination of electric buses across the world, predominantly in China will spur the sales of electric motors for electric vehicles. Further, in the coming years, fall in the sales of conventional cars owing to long-term advantages associated with electric cars to impact the global electric motors for electric vehicles market substantially.

Global Electric Motors for Electric Vehicle Market: Key Participants

List of some of the prominent market participants in the global electric motors for electric vehicle market discerned across the value chain include:

• ABB Group
• Siemens AG
• Toshiba Corporation
• WEG Industries
• Nidec Corporation
• Denso
• Continental AG
• Magna International
• TM4 Inc.
• Hitachi Automotive Systems

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Global Electric Motors for Electric Vehicle Market: Segments

The global electric motors for electric vehicles market can be segmented on the basis of vehicle type and region

On the basis of vehicle type, the global electric motors for electric vehicles market can be segmented as:

• Passenger Cars
  • Luxury Cars
  • Compact Cars
  • Mid-Size
  • SUV (Sports Utility Vehicle)
• Buses

Motor Type:

• AC Motor
• DC Motor

Vehicle Type:

• Hybrid Electric Vehicle (HEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
• Pure Electric Vehicle (PEV)