Electric Vehicle Drive Motor Market: Introduction
Electric vehicle drive motor is an electro-mechanical device which transforms electrical energy into mechanical force which provides power to drive the electric vehicle. All battery operated electric vehicle have electric motors installed in place of combustion engine in ignition and subsequent locomotion of the vehicle.
Electric vehicle drive motor also finds it use in hybrid electric vehicles which additionally incorporates the device along with the conventional combustion engine. Electric vehicle drive motor are available in the form AC induction motors, DC brushless & brushed motors, and AC permanent magnet motors. Some of the electric vehicle drive motor manufacturers are investing in finding the alternatives of AC & DC motors. Power output of the electric vehicle drive motor varies according to the type of electric vehicle.
Electric Vehicle Drive Motor Market: Dynamics
Growth of electric vehicle drive motor market is driven by the growth in electric vehicle production and adoption in several countries of the globe. Many factors such as silent operation, increased concern towards reducing air pollution and increasing conventional fuel prices is increasing the adoption of electric vehicles owing to which there is rise in the demand for electric vehicle drive motors from the electric vehicles manufacturers. Battery & Hybrid Electric Vehicles are showing the better fuel efficiency over the time, owing to which there is shift towards the use of electric vehicles which is increasing the demand for electric vehicle drive motors in the market.
Many country’s governments are giving attractive incentives and subsidies to people for increasing the adoption of electric vehicles, owing to which there will be significant increase in the adoption of electric vehicles which will cause the robust growth in the electric vehicle drive motor market.
The manufacturers of electric vehicle drive motor are focusing towards increasing the efficiency of the motors and making it 100%, such innovations will continue to have positive impact on the electric vehicle drive motor market. Conversely, high price of electric vehicles, lack of electric vehicle infrastructure are the factors which are holding back the electric vehicle market in developing and price sensitive countries. The above factors might act as restraining factors for the electric vehicle drive motor.
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Electric Vehicle Drive Motor Market: Regional Outlook
Predominance of electric vehicle manufacturers and increasing adoption of electric vehicle in Japan makes it prominent market region for electric vehicle drive motor. In the regions such as North America and Europe have significant presence of electric vehicle manufacturers, also there is increase in the electric vehicle infrastructure and increased shift towards electric vehicles makes North America and Europe significant market for electric vehicle drive motor.
In the Asia Pacific region governments of countries like China and India are focusing towards increasing the adoption of electric vehicles. For instance government of China has indicated it will invest approximately US$ 600 Bn for the advancement of electric vehicles, in India the government is planning to remove the permits on the use of Electric Vehicles.
Also the increase in the manufacturing of Electric Vehicles in Asia Pacific regions makes it promising market for electric vehicle drive motor. In regions of Latin America and Middle East & Africa there is less production of electric vehicles as compared to others but it is expected to grow at a good pace over the forecast period, owing to which Latin America and MEA can be considered as potential market region for electric vehicle drive motor.
Electric Vehicle Drive Motor Market: Key Participants
Examples of some of the market participants operating in the global electric vehicle drive motor market are Siemens AG, Yaskawa Electric Corporation, Baldor Electric Company Inc., Continental AG, Toshiba Corporation, BYD Company Limited, Hyundai Mobis, and Zhengzhou Yutong Bus Co., Ltd. among others.
The electric vehicle drive motor research report presents a comprehensive assessment of the electric vehicle drive motor market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report on electric vehicle drive motor provides analysis and information according to electric vehicle drive motor market segments such as geographies, application and industry.
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The report covers exhaustive analysis on
- Electric Vehicle Drive Motor Market Segments
- Electric Vehicle Drive Motor Market Dynamics
- Electric Vehicle Drive Motor Market Size
- Electric Vehicle Drive Motor Supply & Demand Scenario
- Current Trends/Issues/Challenges in Electric Vehicle Drive Motor Market
- Competition & Companies involved in Electric Vehicle Drive Motor Market
- Technology in Electric Vehicle Drive Motor Market
- Electric Vehicle Drive Motor Market Value Chain
An Adaptive Approach to Modern-day Research Needs
- Detailed overview of parent market
- Changing electric vehicle drive motor market dynamics in the industry
- In-depth electric vehicle drive motor market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments in electric vehicle drive motor market
- Competitive landscape in electric vehicle drive motor market
- Strategies of key players and products offered in electric vehicle drive motor market
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their electric vehicle drive motor market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect the formal positions or views of the company.
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Electric Vehicle Drive Motor Market: Segmentation
The global electric vehicle drive motor can be segmented on the basis of motor type and vehicle type.
The global electric vehicle motor drive market is segmented on the basis of motor type:
- DC Motor
- Brushless Permanent Magnet Motor
- Brushed Motor
- Hermitic Motor
- AC Motor
- Induction Motor
- Synchronous Permanent Magnet Motor
The global electric vehicle motor drive market is segmented on the basis of vehicle type:
- Two wheelers
- Passenger Cars
- Commercial Vehicles
- Heavy Duty Vehicles
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