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The Electric Motors for Electric Vehicle Market is segmented by Application (Passenger Cars and Commercial Vehicles), Motor Type (AC Motor and DC Motor), Vehicle Type (Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), and Battery/Pure Electric Vehicle (PEV)), and Geography.
Fastest Growing Market:
Greater Than 15 %
The electric motors for electric vehicle market is expected to register a CAGR of over 15%, during the forecast period (2020 - 2025).
Electric motors, which are primarily used for propulsion/traction of electric vehicles, have been considered under the scope of the market.
The electric motors for electric vehicle market has been segmented by application, motor type, vehicle type, and geography.
|Hybrid Electric Vehicle (HEV)|
|Plug-in Hybrid Electric Vehicle (PHEV)|
|Pure Electric Vehicle (PEV)|
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A large number of electric vehicles in the market have been using AC motors, due to their improved efficiency and lightweight. Additionally, AC motors are robust and inexpensive, when compared to DC motors. Thus, automakers have been widely adopting synchronous AC motors and induction motors, which offer the benefits of brushless DC motors as well.
Owing to the aforementioned features, some of the major companies, such as Bosch, Delphi, Denso, Continental, etc., continue to focus on producing more AC motors for electric vehicles.
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Globally, Asia-Pacific has been capturing the largest share in the electric motors for electric vehicle market, owing to high EV sales, majorly from China. China has been consistently taking aggressive steps to tackle the issue of environmental pollution, which in turn, have resulted in the high adoption rate of electric vehicles in its transportation sector. China is the largest market for electric cars across the world, and registered sales of more than 1.26 million vehicles in 2019. Furthermore, in 2017, the Beijing announced plans to transform its entire taxi fleet to that of electric propulsion.
Owing to the aforementioned trend, major automotive companies have been planning to invest in the Chinese market, in order to take advantage of the strong demand for electric vehicles. Nissan, BYD, Honda, and Toyota Motor Corporation have announced their investment plans in the Chinese market, which are expected to collectively sum up to USD 50 billion.
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In 2019, major players, such as Aisin Seiki Co. Ltd, Toyota Motor Corporation, Nissan Motor Co Ltd, and Honda Motor Company Ltd, had more than 40% of share in the electric motors for electric vehicle market. Other players, such as DENSO Corporation, Aptiv PLC (formerly known as Delphi Automotive PLC), Magna International Inc., and Meidensha Corporation, are competing closely to increase their shares in the market.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.1 Passenger Cars
5.1.2 Commercial Vehicles
5.2 Motor Type
5.2.1 AC Motor
5.2.2 DC Motor
5.3 Vehicle Type
5.3.1 Hybrid Electric Vehicle (HEV)
5.3.2 Plug-in Hybrid Electric Vehicle (PHEV)
5.3.3 Pure Electric Vehicle (PEV)
5.4.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia-Pacific
5.4.4 Rest of the World
188.8.131.52 South Africa
184.108.40.206 Other Countries
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Aisin Seiki Co Ltd
6.2.2 Toyota Motor Corporation
6.2.3 Hitachi Automotive Systems
6.2.4 DENSO Corporation
6.2.5 Aptiv PLC
6.2.6 Mitsubishi Electric Corp
6.2.7 Magna International
6.2.8 Robert Bosch GmbH
6.2.9 BMW AG
6.2.10 Nissan Motor Co Ltd
6.2.11 Tesla Inc
6.2.12 Toshiba Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS