Market Overview:
According to MRFR analysis, the global Electric Vehicle Motor Marketis expected to register a CAGR of ~20.50% from 2022 to 2030 and hold a value of over USD 169.36 billion by 2030.The electric motor, which transforms electricity into torque to propel the vehicle, is a crucial component of the electric vehicle power train. The motor receives the electricity given by the battery pack, and the motor then transforms this electrical energy into mechanical energy, causing the vehicle to move.
Regenerative braking is a technique used by motors in electric cars, which means that when no power is being used, the motors start producing electricity and begin sending it back to the battery pack.
Key Companies in the Electric Vehicle Motor market include
lContinental AG (Germany)
lHitachi Automotive Systems Ltd. (Japan)
lTesla Inc. (US.)
lBYD Auto Co. Ltd. (China)
lDenso Corporation (Japan)
lMetric Mind Corporation (US.)
lMitsubishi Electric Corporation (Japan)
lAllied Motion Technologies Inc. (US.)
lRobert Bosch GmbH (Germany)
lSiemens AG (Germany), among others
Electric Vehicle Motor Market Segmentation
Electric Vehicle Motor Power Rating Outlook
l80 kW
l40 kW-80 Kw
l40 kW
Electric Vehicle Motor Type Outlook
lBrushless Motors
lDC Brushed Motors
lInduction (Asynchronous) Motor
lSwitched Reluctance Motor
lSynchronous Motor
The expansion of the electric vehicle sector and the tightening of government pollution restrictions are the main drivers of the market for Electric vehicle motorss. The market expansion is hampered by the high initial cost of electric motors and their high maintenance costs. In addition, despite these difficulties, technological development, such as the production of energy-efficient motors, is anticipated to accelerate market expansion shortly. Additionally, it is anticipated that an increase in government activities about electric cars would present several chances for the market's expansion.
Electromagnetic induction is the basis for operating electric motors, which are electronicallydevices. They are strong and extremely efficient, need little upkeep, use less energy, and have a high tolerance for changing voltages. Electric motors are far less expensive compared to an engine powered by fossil fuels. Electric motors are used in industrial fans, machine tools, compressors, electric cars, home appliances, hard drives, and other devices across various sectors, from automotive to oil and gas.
Regional Analysis:
Due to increased E.V. sales, mostly from China, Asia-Pacific has been gaining the most market share for electric motors for electric vehicles globally. The world's leading producer and buyer of electric cars are China. Domestic demand is backed by governmental air-quality standards, favourable regulations, and national sales goals. For instance, China has mandated that producers of electric or hybrid cars must meet a quota of at least 10% of all new sales. Beijing only gives 10,000 licences for registering combustion engine vehicles each month to encourage its citizens to transition to electric vehicles.
The automobile sector now cannot exist without electric vehicles. It provides a means to minimizepollution and other greenhouse gas emissions while also attaining energy efficiency. The main causes of this rise are the rising environmental concerns and beneficial government measures.
Industrial News:
The demand for electric motor vehicles is increasing across several geographic locations, fostering the development of the Electric vehicle motorsindustry and creating additional chances for manufacturers and key players in the market.
More Trending Reports Here
Electric Commercial Vehicle Market Research
Intelligent Traffic Management System Market Research
