Europe Electric Motors for Electric Vehicle Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Europe Electric Motors for Electric Vehicle Market is Segmented by Application (Passenger Car, Commercial Vehicle), Motor Type (AC Motor, DC Motor), Vehicle Type (Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Battery/Pure Electric Vehicle (PEV)), and Country (Germany, United Kingdom, Italy, France, the Netherlands, Spain, and Rest of Europe).

Market Snapshot

Market_overview
Study Period: 2018 - 2026
Base Year: 2020
CAGR: >14 %

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Market Overview

The European electric motors for the electric vehicle market is expected to register a CAGR of over 14 %, during the forecast period (2020 - 2025).

  • Electric vehicles are witnessing significant growth owing to the need for addressing future energy requirements. The need to attain sustainable transportation plays a significant role in driving electric vehicle demand. The electric vehicles are coming up as an integral part of the automotive industry and represent a pathway towards achieving energy efficiency along with reduced emission of pollutants and other greenhouse gasses.
  • Electric motors are the main component in the powertrain of any electric vehicle since the competition in electric vehicles is getting intense between the vehicle manufacturers, the conventional vehicle manufacturers are jumping into the electric vehicles market to attain an added advantage over competitors.
  • Increasing environmental concerns coupled with favorable government initiatives are some of the major factors driving the market growth. Rising energy costs and competition among emerging energy efficiency technologies have also been driving market growth.
  • Government policies played a huge role in promoting electric vehicles. The results can be witnessed in many European countries, where electric vehicles have occupied a significant portion of the total vehicle population. Norway and France are positioned to take the leading role in the electric vehicle industry, owing to the supporting government policies.

Scope of the Report

The electric motors for the electric vehicle market report covers the latest trends and technological developments and provides analysis on the market demand by application type, technology, and vehicle type. Country-level analysis and market share of major electric motors manufacturing companies across the European region will be covered in the scope of the report.

By Application Type
Passenger Car
Commercial Vehicle
By Motor Type
AC Motor
DC Motor
By Vehicle Type
Hybrid Electric Vehicle
Plug-in Hybrid Electric Vehicle
Battery/Pure Electric Vehicle
By Country
Germany
United Kingdom
Italy
France
Netherlands
Spain
Rest of Europe

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Key Market Trends

In-Wheel Motors are Expected to Grow in the Market.

Leading automotive OEMs and electric motor manufacturers are developing more efficient and powerful motors for future electric vehicles. Recently, few startups and established players have been focusing on and developing in-wheel motors. In conventional electric vehicles, the gasoline engine is substituted with an electric motor along with other electronics. On the other hand, the in-wheel motor is installed right into each of the wheels to power the wheels directly. In-wheel motors are employed through separate motors in the separate wheel so that each of the four wheels can be operated independently, which is not possible in conventional powertrain design.

For instance, in 2019, Protean develops an electric drive corner module Protean360+, which has an in-wheel motor, inverter, liquid cooling circuit, brake disc and caliper, and steering and suspension system.

Similarly, BYD has developed an in-house design for its electric buses, which have two front motors in hubs.

key market trend_1

Passenger cars Captures Major Share in Market

Passenger cars capture dominant share in the electric motor market for electric vehicles, as OEMs continue to plan to invest hugely in research and development for the development of the next-gen electric vehicle.

The European automotive industry offers a broad portfolio of technologies for electrified vehicles and adopting the majority of advanced technologies in the vehicle systems. Daimler, Volkswagen Group, ZF Friedrichshafen and Robert Bosch are the major players in the growing trend of vehicle electrification solutions, continues to expand to get ahead in the fastest-growing electric vehicle market in Europe.

For instance, in February 2020, Magna demonstrates its e4 technology, which is equipped with a dual-motor all-wheel-drive system, gearbox, inverter, and its software.

Additionally, the Volkswagen Group is investing actively in electric vehicles. The group plans to invest around EUR 60 billion on the development, including areas of hybridization, electric mobility, and digitalization, between 2020 and 2024.

key market trend_1

Competitive Landscape

The Europe electric motors for the electric vehicle market is moderately fragmented due to the presence of many local and global players, such as Robert Bosch GmbH, Continental AG, and Siemens AG. The market is transforming at a rapid pace, and local companies are facing tough companies from foreign players. As a result, companies are increasing investment in R&D projects to provide the best technology to car manufacturers. For instance,

  • In 2020, Equipmake announced that it is going to develop the world’s most power-dense permanent magnet electric motor. In this new AMPERE project, it has collaborated with a 3D metal printing company HiETA.
  • In 2019, BorgWarner introduced a high voltage hairpin 146 motor, which is expected to go into production by 2020 for a light-duty hybrid passenger car.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Application Type

      1. 5.1.1 Passenger Car

      2. 5.1.2 Commercial Vehicle

    2. 5.2 By Motor Type

      1. 5.2.1 AC Motor

      2. 5.2.2 DC Motor

    3. 5.3 By Vehicle Type

      1. 5.3.1 Hybrid Electric Vehicle

      2. 5.3.2 Plug-in Hybrid Electric Vehicle

      3. 5.3.3 Battery/Pure Electric Vehicle

    4. 5.4 By Country

      1. 5.4.1 Germany

      2. 5.4.2 United Kingdom

      3. 5.4.3 Italy

      4. 5.4.4 France

      5. 5.4.5 Netherlands

      6. 5.4.6 Spain

      7. 5.4.7 Rest of Europe

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Robert Bosch GmbH

      2. 6.2.2 Continental AG

      3. 6.2.3 DENSO Corporation

      4. 6.2.4 BMW AG

      5. 6.2.5 Siemens AG

      6. 6.2.6 Delphi Technologies

      7. 6.2.7 LG Electronics

      8. 6.2.8 Hitachi Automotive Systems

      9. 6.2.9 BorgWarner Inc.

      10. 6.2.10 Equipmake

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Europe Electric Motors for Electric Vehicle Market market is studied from 2018 - 2026.

The Europe Electric Motors for Electric Vehicle Market is growing at a CAGR of >14% over the next 5 years.

Continental AG, Robert Bosch GmbH, DENSO Corporation, Magna International, Siemens AG are the major companies operating in Europe Electric Motors for Electric Vehicle Market.

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