The global electric vehicle motor market size is expected to reach around USD 40.58 billion by 2030 from valued at USD 7.16 billion in 2021 and growing at a CAGR of 21.26% from 2022 to 2030.

The electric vehicles (EVs) market is growing and opening up new opportunities for different kinds of motors. The controller can produce the fluctuations in current, voltage, and speed. Since electric vehicles offer high fuel efficiency and low greenhouse gas emissions, the market for electric vehicle motor controllers is expanding as a result of the expansion of the electric vehicle market. In the years to come, the demand for EV motor controllers is expected to increase significantly.

According to Precedence Research, the global electric vehicle motor market size was accounted USD 7.16 billion in 2021 and is expected to increase at around USD 40.58 billion by 2030 with a CAGR of 21.26% over the forecast period 2021 to 2030.

A few of the factors that are driving the market's growth and increasing demand for electric cars include the implementation of stringent efficiency and contamination standards, government incentives, and enhanced charging infrastructure. The introduction of electric automobiles will increase interest in electric engines throughout the expected period. Market growth will be influenced by global energy consumption, the usage of electrical equipment and hardware in various applications, and the renewable energy sector.

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To control electric cars, an electromechanical device called an electric vehicle engine totally transforms electric energy into mechanical energy. The flow of an electric engine and the communication of the attracting field are what cause this effect. End portion for an electric vehicle engine that includes a stator, a rotor, an edge, a cooling outline, and direction. The number of electric cars is expected to increase due to benefits including zero-outflow, low maintenance costs, enhanced efficiency, and independent control, which are attributed for the growth in the market for electric vehicle engines throughout the estimated time period. These engines are useful in bikes that are equipped with least one electric engine, and depending on the features and intended use of the vehicle, travel and business vehicles typically have two or more electric engines.

The primary factors influencing the electric vehicle engine market are advancements in the field of electric vehicles as well as an expansion of governmental rules and guidelines regarding vehicular emissions. However, the high initial cost of an electric engine and the high ongoing maintenance expenses associated with an electric engine restrain market growth. Despite these obstacles, mechanical developments like the creation of energy-efficient engines are anticipated to support market growth in the near future. Additionally, a flurry of government initiatives involving electric cars will undoubtedly create a number of opportunities for industry expansion.

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Vehicle Type Insights

The market is projected to be dominated by the passenger car segment. This market might be divided into traveler cars and business vehicles based on the kind of vehicle. The passenger automobile segment will dominate the market as a whole in 2021. Rapid urbanization is a major factor driving market expansion since it increases interest in financial transportation options like electric cars. Electric vehicles are more resource-efficient and less harmful to the environment than IC automobiles. Legislation in powerful economies like China, India, and the USA encourages the use of such cars as a result. It is anticipated that such government support, together with growing interest of the public in EV innovation, will ignite EV enthusiasm very soon. Since the EV and On-Board charger industries are inextricably linked, advancements in the latter will eventually lead to increased demand for chargers.

Even though the EV environment has limited potential effects for the corporate industry, the future appears promising as major manufacturers launch new products. Since these cars use more electricity and require more maintenance, business EV reception is more challenging than traveler EV reception. We predict that as the number of commercial EV models available increases over the course of the forecast period, demand for on-board chargers for commercial EVs will rise.

Application Insights

Due to the introduction of strict fuel regulations and tax incentives, the full hybrid electric vehicle section ruled the global electric vehicle motor (EVM) controller market in terms of revenue in 2021. This, in turn, is likely to accelerate the adoption of full hybrid electric vehicles in the near future. The growing need for more effective and intelligent motor control is fueled by the popularity of full hybrid electric cars. Original equipment manufacturers (OEMs) are more interested than ever in finding ways to improve the performance of electric motors (such as torque control) while retaining a high level of system visibility through diagnostics to constantly know the state of the system.

End User Insights

The market is divided into contemporary, business, personal, agribusiness, and transportation segments based on end-client in order to increase the transportation sector and minimize the use of fossil fuels by goods. The interest in electric engines from the auto industry in the transportation domain has been growing as states all over the world focus on developing enabling legislation and guidelines to highlight difficulties with the use of electric cars in their specific nations. This illustration is meant to serve as a catalyst for the transportation industry for a sizable amount of time. The increased need for rural and contemporary syphons and engines, as well as domestic machinery, will fuel interest in electric engines as a crucial part of the operating framework.

Geography Insights

Asia Pacific is anticipated to have the largest share of the electric engine market throughout the forecasted period. Asia Pacific is made up of India, China, South Korea, Japan, Australia, and the rest of the region. Asia Pacific nations are transitioning into web-based contemporary workouts in all sectors as a result of growing industry. According to the GSM Association, developed Asia Pacific countries including Japan, Australia, and South Korea are increasingly investigating the potential effects of new services and related products. The district's automobile sector is also thriving. The most notable region in the world for producing vehicles is Asia Pacific. In 2018, the area produced more than 50 million commercial cars. These factors are anticipated to aid in the growth of the Asian market for electric engines.

Additionally, Asia Pacific countries are shifting toward web-based modern activities in every field as a result of expanding industry. According to the GSM Association, research on the potential effects of new services and linked devices is progressing in countries including Japan, Australia, and South Korea. Additionally, the local automobile industry is thriving. The most notable region in the world for producing vehicles is Asia Pacific. Thus, during the speculative term, the APAC market will likely be driven by the expansion of these end-use organizations.

Because of increased interest in the oil and gas sector and increased building activity within the regions, which promotes the expansion of the private and commercial areas, it is projected that Latin America, the Middle East, and Africa would see remarkable improvement.

Recent developments

- Johnson Electric unveiled a new series of Low Voltage DC (LVDC) engines in February 2021, including features like small size, thick power layer, quiet operation, and high force. The new items are specifically designed to extend the lifespan of Smart Furniture by 17%, including therapeutic beds, level flexible workstations, smart chairs, and other consumer goods.

- In June 2021, Mabuchi Motors stated that it will complete a 100% acquisition of Electromag SA for a total capitalization of about CHF 0.1 million or USD 0.11 million. New brushless engines being used medical care offices, such as ventilators and dental treatment, will broaden Mabuchi's product line.

Key Players

• Shenzhen V&T Technologies Co. Ltd.


• Time High-Tech Co. Ltd.


• Shanghai E-drive Co. Ltd.


• Kelly Controls LLC


• BYD


• Zhuhai Enpower Electric Co. Ltd.


• Delta Electronics


• Profile


• Chroma ATE Inc.


• DEC Dongfeng Electric Machinery Co. Ltd.


• Canadian Electric Vehicles Ltd


• Fujian Fugong Power Technology Co. Ltd.


• Hunan CRRC Times Electric Vehicle Co. Ltd.


• Nidec (Beijing) Drive Technologies Co. Ltd.


• Jing-Jin Electric Technologies (Beijing) Co. Ltd.


• United Automotive Electronic Systems Co. Ltd. (UAES)


• Shenzhen Inovance Technology Co. Ltd.


• JEE Automation Equipment Co. Ltd.


• Shandong Deyang Electronics Technology Co. Ltd.


• Beijing Siemens Automotive E-Drive System Co. Ltd.


• Zhongshan Broad-Ocean Motor Co. Ltd.


• Parker


• Prestolite E-Propulsion Systems (Beijing) Limited

By Type

• AC Motor
  
  
  
  • Synchronous AC Motor
  
  
  • Induction AC Motor
  
  
  
  


• DC Motor
  
  
  
  • Brushed DC Motor
  
  
  • Brushless DC Motor
  
  
  
  

By Vehicle Type

• Pure Electric Vehicle


• Hybrid Electric Vehicle


• Plug-in Hybrid Electric Vehicle


• Fuel Cell Electric Vehicle (FCEV)

By Motor Type

• Induction Motor


• Synchronous Motor


• Switched Reluctance Motor

By Power Rating

• Up to 60 KW


• 60 to 90 KW


• Above 90 KW

By Application

• Electric Two-Wheeler


• Electric Three-Wheeler


• Electric Commercial Vehicles


• Electric Passenger Cars

By Powertrain Type

• Single Motor


• Dual Motor


• Triple Motor


• Four Motor

By Marketplace

• OEM


• Aftermarket

By End User

• Agribusiness


• Transportation


• Private


• Business

By Geography

• North America
  
  
  
  • U.S.
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • U.K.
  
  
  • Germany
  
  
  • France
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • South Korea
  
  
  • Malaysia
  
  
  • Philippines
  
  
  
  


• Latin America
  
  
  
  • Brazil
  
  
  • Rest of Latin America
  
  
  
  


• Middle East & Africa (MEA)
  
  
  
  • GCC
  
  
  • North Africa
  
  
  • South Africa
  
  
  • Rest of the Middle East & Africa
  
  
  
  

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