Electric Vehicle Motor Market – Increasing Sales of EVs to Boost Market | 15.98% Y-O-Y Growth Rate in 2021| 17000+ Technavio Reports

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NEW YORK, Feb. 4, 2022 /PRNewswire/ — The electric vehicle motor market is set to grow by USD 6.31 billion between 2020 and 2025, and register a CAGR of 21.69%, according to Technavio’s latest market report.  This report offers an up-to-date analysis regarding the current market scenario, the latest trends, drivers, challenges, and the overall market environment.

Attractive Opportunities in Electric Vehicle (EV) Motor Market by Power Rating and Geography - Forecast and Analysis 2021-2025

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Electric Vehicle Motor Market 2021-2025: Driver

The key factor driving growth in the electric vehicle motor market is the increasing sales of EVs. Most government bodies across the world are taking several initiatives to promote the sales of EVs. The factors driving the demand for EVs are 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. Concerns about the significant increase in greenhouse gas emissions have led to an increase in the sales of plug-in hybrids as well as EVs. The government bodies across all regions are creating awareness to Go Green and incentivizing the purchase and sale of greener technology, which has very less impact on the environment.

Electric Vehicle Motor Market 2021-2025: Challenges

The lack of operational infrastructure in emerging markets will be a major challenge for the electric vehicle motor market during the forecast period. In India and other Southeast Asian countries, the lack of adequate infrastructure hinders the expansion of EV charging stations. The lack of proper road infrastructure in these countries hampers the wide-scale expansion of EV charging infrastructure. Individuals and freight operators who maintain a fleet of electric vehicles for commercial purposes limit their operations to major cities because the operational infrastructure required for setting up an EV charging station is available mostly in major cities, not in tier-2 and tier-3 cities. Hence, the lack of operational infrastructure is hampering the overall growth of the market under focus.

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Electric Vehicle Motor Market 2021-2025: Vendor Analysis

The electric vehicle market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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 are some of the major market participants. The electric vehicle motor market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Electric Vehicle Motor Market 2021-2025: Scope

The report also covers the following areas:

  • Electric Vehicle Motor Market size
  • Electric Vehicle Motor Market trends
  • Electric Vehicle Motor Market industry analysis

Electric Vehicle Motor Market 2021-2025: Segmentation

  • Power Rating 
    • MPR
    • HPR
    • LPR
  • Geography
    • APAC
    • Europe
    • North America
    • South America
    • MEA

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Electric Vehicle Motor Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist electric vehicle motor market growth during the next five years
  • Estimation of the electric vehicle motor market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the electric vehicle motor market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of electric vehicle motor market vendors

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Electric Vehicle Motor Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 21.69%

Market growth 2021-2025

USD 6.31 billion

Market structure

Fragmented

YoY growth (%)

15.98

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 49%

Key consumer countries

China, US, Norway, Germany, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

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

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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