Electric Vehicle Motor to Record 15.98% of Y-O-Y Growth Rate in 2021 | Continental AG - One of the Leading Companies launched a new loader tire, namely the CompactMaster EM in October 2021 | Technavio

NEW YORK, Dec. 14, 2021 --

Electric Vehicle Motor Facts at a Glance-

• Total Pages: 120
• Companies: 10+ – Including Allied Motion Technologies Inc., Continental AG, DENSO Corp., Ford Motor Co., Hitachi Ltd., Nissan Motor Co. Ltd., Robert Bosch GmbH, Siemens AG, Toshiba Corp., and Valeo SA among others.
• Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
• Segment: Power rating (MPR, HPR, and LPR)
• Geographies: APAC (China and Japan), Europe (Norway, Germany, and France), North America (US), South America, and MEA

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According to the recent market study by Technavio, the Electric Vehicle Motor Size in Auto Parts & Equipment Industry is expected to increase by USD 6.31 billion from 2020 to 2025, with an accelerated CAGR of 21.69%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.

APAC will register the highest growth rate of 49% among the other regions. China is the key market for electric vehicle motors in APAC. Moreover, market growth in APAC will be faster than the growth of the market in other regions.

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Vendor Insights-

The electric vehicle motor is fragmented, and the vendors are deploying growth strategies such as focusing on developing modern technologies to compete in the market.

Continental AG - In August 2021, the company partnered with Varta to develop new technologies and products. In October 2021, the company launched a new loader tire, namely the CompactMaster EM.

DENSO Corp. - In February 2021, the company partnered with Yamato Transport Co. Ltd. to develop D-mobico, a compact mobile refrigerator. In January 2021, the company collaborated with Aeva to develop next-generation sensing and perception systems.

Siemens AG - In October 2021, the company announced the complete acquisition of the French startup Wattsense.

Find additional highlights on the vendors and their product offerings. Download Free Sample Report

Regional Market Outlook

The electric vehicle motor share growth in APAC will be significant during the forecast period. China will be the key markets for the electric vehicle motor market in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The growth of this region can be mainly attributed to the increasing demand for EVs from countries such as China, Japan, India, Singapore, Thailand, and South Korea. Increased production and sales of EVs and components in countries including China and Japan is fuelling the market growth positively in this region. Furthermore, factors such as increasing stringent carbon emission norms, surging number of EV charging stations, and growth in participation by the foreign as well as local OEMs to make the EV technology more efficient and effective will also aid in the market growth.

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Drivers & Trends Driving the Market-

• Electric Vehicle Motor Driver:
• Increasing Sales of EVs:

Most government bodies across the world are taking several initiatives to promote the sales of EVs. EVs significantly reduce air pollution as they do not emit harmful pollutants, such as particulates, carbon monoxide, hydrocarbons, and volatile organic compounds. Various benefits and perks provided by the governments, increased awareness to curb the emission of greenhouse gas, stringent carbon emission norms like reducing the average CO2 emission emitted by the fleets of OEMs, increase in participation from the foreign as well as the regional players for the development of EVs, and increased buyers' intent to adopt EVs are some of the factors driving the market's growth.

• Electric Vehicle Motor Trend:
• OEMs focusing on connected EVs:

The adoption rate of EVs by end-users is mainly restricted due to range anxiety. Many OEMs have started developing a connectivity module, which will be a standard unit in EVs, to alleviate the problem shortly. The connected EVs will have various ranges of anxiety solutions, including, vehicle range management, online battery charging management, navigation-based assistance, and battery performance overview from logs. The increasing inclination of OEMs toward manufacturing connected EVs will drive the market growth during the forecast period.

Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.

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