Electric Vehicle Motor Communication Controller Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 19.48 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Electric Vehicle Motor Communication Controller Market Analysis
- Currently, the electric vehicle motor communication controller market is valued at USD 546.07 million and is expected to reach USD 1329.62 million over the next five years at a CAGR of 19.48%.
- The COVID-19 pandemic affected almost every industry around the globe; however, the demand for the electric vehicle power inverter market is growing significantly, owing to factors such as the continuous demand and sales of electric vehicles every year. For instance, despite the pandemic, the sales of electric vehicles, such as passenger cars, have shown positive growth in various countries in the regions, such as Asia-Pacific and Europe.
- Over the long term, the market is expected to grow due to the governmental efforts in various countries that are spending heavily on electric mobility projects, which will provide an opportunity for electric vehicle motor controller manufacturers as governments are encouraging auto manufacturers and customers to produce and adopt electric vehicles. The rise in the demand for electric vehicles is also expected to increase the sales of the components used in electric vehicles, such as motor communication controllers.
- Though change has not resulted in a slump in IC engine vehicle sales, it created a promising market for electric vehicles in the present and future. The above trend has propelled some automakers to increase their expenditure on R&D in electric vehicles and associated components, while others have started focusing on launching new products to capture the market share, eventually pushing the demand in the market. For instance,
Electric Vehicle Motor Communication Controller Market Trends
This section covers the major market trends shaping the Electric Vehicle Motor Communication Controller Market according to our research experts:
Increasing Sales of Electric Vehicles
- Global EV sales were 8.97 million units in 2021, significantly higher than sales figures in 2020. The volume includes all segments, including passenger vehicles, commercial vehicles, trucks, and propulsion types.
- The movement to accelerate the adoption of passenger electric cars and phase out traditional vehicles with internal combustion engines is gaining traction worldwide. The increase in average fuel prices reflects the fact that Europe has a higher share of new electric car registrations than other parts of the world. Hence, the mass adoption of electric vehicles, owing to rising fuel prices, is expected to increase business globally.
- The market studied is driven by the increasing sales of plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) globally, which has also remained a significant cause for bolstering electric vehicle demand. Manufacturers around the globe have consistently driven the demand for electric vehicles.
- For instance, during the end of FY21, Hyundai sold 313,926 cars globally. The sales statistics stood at a drop of 17% compared to previous years. Moreover, Hyundai observed that its automotive segment witnessed a sharp rise, with almost doubled sales figures for its all-electric cars. This, in turn, makes its sales figure for its BEV to stood at 11,447 units, with a rise of 105%. In addition, plug-in electric cars increased to 14,693 units to 58% year and year growth.
- In Q1, 2022, Volkswagen Group, which includes Volkswagen, Audi, Porsche, Skoda, and SEAT, reported net sales of 99,100 units under its BEV segment. This showcases a steep rise of 65.2 % year-on-year growth rate. In FY2021, Volkswagen Group sold a record-breaking number of plug-in electric vehicles, roughly 762,400 units.
Asia-Pacific is Dominates the Market
- Electric vehicle sales in China increased by 154% last year as more people chose cleaner vehicles, despite the global auto sales slump caused by the COVID-19 pandemic's shortage of semiconductor supplies. In China, manufacturers of electric vehicles sold 3.3 million units in 2021, up from 1.3 million in 2020 and 1.2 million in 2019.
- The nation's NEV sector is advancing due to rising demand, investments, improved supportive facilities and legislation, and technological advancements. By 2025, the Chinese government wants 20% of all vehicle sales to be electric, including adopting NEVs as the government's next vehicle generation.
- China has one of the fastest-growing electric vehicle markets in the world, with an estimated 500 electric car manufacturers flooding the world's largest vehicle market. The Chinese government encourages domestic brands like Nio, Xpeng, and Li Auto to increase their market share as part of the Made in China 2025 industrial master plan.
- Since its inception, China's electric vehicle (EV) industry has grown thanks to government regulations and incentives. Be that as it may, given the colossal extension of the EV area, the impetuses put a huge weight on the public authority. Consequently, China's Finance Ministry announced in January 2022 that all subsidies will be eliminated by the end of the year and that EV subsidies will be reduced by 30% this year. Such measures could obstruct market development.
- OEMs are making new technological investments, like manufacturing EV batteries and components. For instance, China Lithium Battery Technology Co., Ltd.'s (CALB) Wuhan power and energy storage battery production site's second phase was completed in June 2022. It is Wuhan's first significant EV battery project, costing 22 billion CNY.
- Another country in the region, India, is catching up on sales of electric vehicles. In India, 3,29,190 electric vehicles were sold in 2021, a 168% increment over the 1,22,607 units sold the earlier year. Traveler electric vehicle deals in India significantly increased in 2021 to 14,800 units and are still indicating development.
- To meet international emission standards and foster e-mobility in the wake of rapid urbanization, the Indian government has taken several steps to encourage the production and use of electric vehicles in the country.
- The National Electric Mobility Mission Plan (NEMMP) and Faster Adoption and Manufacturing of Hybrid & Electric Vehicles in India (FAME I and II) helped create the initial interest and exposure to electric mobility. For instance, in phase two of FAME, the government announced an outlay of USD 1.4 billion through 2022. This phase focuses on the electrification of public and shared transportation by subsidizing 7,090 e-buses, 500,000 electric three-wheelers, 550,000 electric passenger vehicles, and 1,000,000 electric two-wheelers.
- To promote the domestic electric vehicle industry, the Indian government has provided tax exemptions and subsidies to EV manufacturers and consumers. As per the phased manufacturing proposal, the government has imposed a 15% customs duty on parts used to manufacture electric vehicles and 10% on imported lithium-ion cells.
- With 100 percent FDI allowed, new production centers, and a greater drive to improve charging infrastructure, India's electric vehicle sector is picking up speed. Other development factors for the Indian EV sector include federal subsidies and policies supporting more significant discounts for Indian-made electric two-wheelers and a localized ACC battery storage manufacturing boost. Improved government regulations and policies, like no license required to operate EV charging stations in India, further aid the market's growth.
- With the increasing sales of electric vehicles in India, automakers are investing in developing new technologies and increasing their production capacities to accommodate the demand for new energy vehicles, creating the need for electric vehicle motor communication controllers.
Electric Vehicle Motor Communication Controller Industry Overview
The electric vehicle motor communication controller market is consolidated, and it includes well-established brands. LG INNOTEK, Tesla Inc, Mitsubishi Electric Corporation, Ficosa Corporation, EFACEC Power Solutions SGPS, S.A., Engie SA, Siemens AG, and others are some key players in the market. Product innovations are aiding the market by major players.
For instance, in December 2022, LG Innotek announced that it would exhibit wireless battery management systems (wireless BMS), DC/DC converters, electric vehicle communication controllers for charging, and other electric vehicle solutions for the first time.
Electric Vehicle Motor Communication Controller Market Leaders
LG Innotek
Mitsubishi Electric Corporation
Engie SA
Robert Bosch GmbH
Siemens AG
*Disclaimer: Major Players sorted in no particular order
Electric Vehicle Motor Communication Controller Market News
- November 2022: HYCET Transmission Technology Hebei Co., Ltd. (HYCET Transmission) announced that its Pizhou facility in Xuzhou, Jiangsu, is now fully operational. In addition to the Lemon hybrid DHT transmission's planned 450,000 annual units, the project's new energy 3-in-1 battery electric drive assemblies and core components, such as controllers, are expected to have a capacity of 350,000 annual units.
- August 2022: BorgWarner announced that it had entered into an agreement with ChangAn Automobile to provide the triple-clutch transmission, hydraulic control unit, motor, and motor controller for ChangAn Automobile's Oshan Z6 iDD PHEV that will use a Blue Core triple-clutch electric drive transmission unit. The triple-clutch electric drive transmission unit is made up of a more compact and integrated wet three-clutch unit, a high-efficiency high-pressure hydraulic system, and an S-Winding motor with faster coupling response and higher efficiency thanks to smart electronic dual pump technology. The motor controller is designed with a high energy density and uses BorgWarner's in-house Viper series of scalable power units.
- July 2022: Infineon Technology AG (Infineon) released their fully programmable motor controllers MOTIX IMD700A and IMD701A. These controllers provide the integration and higher power density required for electric and automated guided vehicles. The MOTIX IMD70xA controllers combine the features of the MOTIX 6EDL7141 IC, which is a three-phase gate driver, with those of an additional XMC1404 microcontroller (MCU). The XMC1404's peripherals and specifications are designed specifically for motor control and drives. Thanks to built-in high- and low-side charge pumps, the IMD70xA controllers can adjust many other parameters for the gate driver, and they can do so even at low battery voltage levels.
Electric Vehicle Motor Communication Controller Market Report - Table of Contents
1. INTRODUCTION
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 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 Type
5.1.1 AC Motor
5.1.2 DC Motor
5.2 Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3 Propulsion Type
5.3.1 Battery Electric Vehicles
5.3.2 Plug-in Hybrid Electric Vehicles
5.3.3 Fuel Cell Electric Vehicles
5.4 By Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Russia
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 South Korea
5.4.3.5 Australia
5.4.3.6 Rest of Asia-Pacific
5.4.4 Rest of the World
5.4.4.1 South America
5.4.4.2 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 LG INNOTEK
6.2.2 Tesla Inc
6.2.3 Mitsubishi Electric Corporation
6.2.4 Ficosa Corporation
6.2.5 EFACEC Power Solutions SGPS, S.A
6.2.6 Engie SA
6.2.7 Siemens AG
6.2.8 ABB ltd.
6.2.9 Vector Informatik GmbH
6.2.10 Robert Bosch GmbH
6.2.11 Schneider Electric SE
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Electric Vehicle Motor Communication Controller Industry Segmentation
Electric vehicle motor communication controller component that creates a gateway for information such as charging data to be exchanged between the charging station and the vehicle Engine Control Unit (ECU).
The electric vehicle motor communication controller market is segmented by type (AC motor and DC motor), vehicle type (passenger cars and commercial vehicles), by propulsion type (plug-in hybrid vehicle, battery electric vehicle, and fuel cell electric vehicle), and by geography (North America, Europe, Asia-Pacific, and Rest of the World).
The report offers market size and forecast for all the above segments in value (in USD Billion).
| Type | |
| AC Motor | |
| DC Motor |
| Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
| Propulsion Type | |
| Battery Electric Vehicles | |
| Plug-in Hybrid Electric Vehicles | |
| Fuel Cell Electric Vehicles |
| By Geography | ||||||||
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Electric Vehicle Motor Communication Controller Market Research FAQs
What is the current Electric Vehicle Motor Communication Controller Market size?
The Electric Vehicle Motor Communication Controller Market is projected to register a CAGR of 19.48% during the forecast period (2024-2029)
Who are the key players in Electric Vehicle Motor Communication Controller Market?
LG Innotek, Mitsubishi Electric Corporation, Engie SA, Robert Bosch GmbH and Siemens AG are the major companies operating in the Electric Vehicle Motor Communication Controller Market.
Which is the fastest growing region in Electric Vehicle Motor Communication Controller Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Electric Vehicle Motor Communication Controller Market?
In 2024, the Asia-Pacific accounts for the largest market share in Electric Vehicle Motor Communication Controller Market.
What years does this Electric Vehicle Motor Communication Controller Market cover?
The report covers the Electric Vehicle Motor Communication Controller Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Electric Vehicle Motor Communication Controller Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Electric Vehicle Motor Communication Controller Industry Report
Statistics for the 2024 Electric Vehicle Motor Communication Controller market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Electric Vehicle Motor Communication Controller analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
