About Electric Car Motor
Electric Car Motor market is expected to grow in the future due to the increasing demand for electric vehicles in emerging countries and rising awareness about greenhouse gas emission and carbon emissions. The government regulations and initiatives offer substantial opportunities for industry manufacturers to develop advanced products, thereby propelling the industry growth. Advancement in technologies, such as manufacturing of energy-efficient motors trending in the electric car motor.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Electric Car Motor is highly competitive, with several key players dominating the industry. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States and Japanese Vendors will contribute the maximum growth to Global Electric Car Motor market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Continental AG (Germany), DENSO Corporation (Japan), Aptiv PLC (Ireland), Hitachi Automotive (United States), Tesla, Inc (United States), Siemens AG (Germany), Toyota Industries Corporation (Japan), BYD Auto Co., Ltd. (China), Metric Mind Corporation (United States), Tata Motors Limited (India) and Mitsubishi Electric Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are ARC Systems Incorporation (United States), Brook Crompton UK (United Kingdom) and Allied Motion Technologies Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Electric Car Motor market by Type (DC Motor (Brushed DC Motor, Brushless DC Motor, Hermetic Motor) and AC Motor (Synchronous AC Motor, Induction AC Motor)), Application (Plug-in Hybrid Electric Vehicle, Hybrid Electric Vehicle and Battery Electric Vehicle) and Region.
On the basis of geography, the market of Electric Car Motor has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End User, the sub-segment i.e. Original Equipment Manufacturer will boost the Electric Car Motor market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancement in technologies, such as Manufacturing of Energy-Efficient Motors
Market Growth Drivers:
Increase in the Number of Electric Vehicles in Developed Countries and Rising Awareness about Greenhouse Gas Emission and Carbon Emissions
Challenges:
High Maintenance Cost of Electric Motor and Shortage of Electric Vehicle Charging Point impacting on the Adoption of Electric Vehicles
Restraints:
High Initial Cost of Electric Motor
Opportunities:
Increase in Government Initiatives related to Electric Vehicles in Emerging Countries and Government Rules and Regulations associated with the Vehicular Emission
Market Leaders and their expansionary development strategies
In January 2023, Ideanomics, a global company focused on accelerating the commercial adoption of electric vehicles (EV), announced that it has completed its acquisition of VIA Motors (VIA), a U.S. based all-electric commercial vehicle manufacturer.
In Oct 2019, Tata Motors announced the launch of its extended range Tigor EV Electric Sedan, with a range of 213 km, certified by ARAI. It will be available in 3 variants – XE+, XM+, and XT+ – for both fleet and personal segment customers. The new extended version offers an enhanced driving range, low cost of ownership, connectivity, the comfort of a sedan and zero emissions.
Key Target Audience
Electric Car Motor Manufacturers, Electric Car Motor Suppliers/Distributors, Raw Material Suppliers, Potential Investors and Research and Development Organisation
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.