- An electric vehicle motor is designed to convert electrical energy into mechanical energy for propulsion. It is also designed to enable regenerative braking in the vehicle.
Key Drivers of Electric Vehicle Motors Market
- Rise in demand for vehicle electrification across the globe, due to enactment of stringent emission norms across the globe to reduce the emission of harmful gases from vehicles, is likely to boost the electric vehicle motors market across the globe. Rise in demand for lightweight vehicles and fuel-efficient vehicles across the globe is likely to propel the electric vehicle motors market across the globe.
- Rapid expansion of electric vehicle component manufacturer across the globe is likely to boost the electric vehicle motor market across the globe. Rise in government investment to boost production of electric vehicles across the globe is likely to fuel the electric vehicle motors market across the globe. Major vehicle manufacturers are trying to increase their electric vehicle power output and also vehicle range, which is likely to boost the electric vehicle motors market across the globe.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
Europe Asia Pacific to hold significant share of global Electric Vehicle Motors Market
- Europe is projected to hold for a major share of the global electric vehicle motors market due to a rise in the demand for electric vehicle across the region. Rapid expansion of electric vehicle component manufacturers across the region also boosts the electric vehicle motors market. Europe has presence of major original equipment manufacturers as well as tier-1 suppliers, including Continental AG and Denso Corporation who have major facilities that undertake research development on the electric vehicle motors, is likely to propel the electric vehicle motors market across the globe.
- Followed by Europe, Asia Pacific is projected to hold a significant share of the global electric vehicle motors market due to an increase in production of electric vehicles across the region. Growing investment across the region for expansion of industries is likely to promote vehicle manufacturers to develop electric vehicle motors across the globe. Asia Pacific has major presence of electric vehicle parts manufacturing industries across China, India, and Japan is anticipated to propel the electric vehicle motors market across Asia Pacific.
Request for Customization- https://www.transparencymarketresearch.com/sample/sample.php?flag=CRrep_id=80624
Key Players Operating in Electric Vehicle Motors Market
The electric vehicle motors market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the electric vehicle motors market are:
- Robert Bosch GmbH
- Continental AG
- ZF Friedrichshafen AG
- Hitachi Automotive Systems Ltd
- Tesla Inc.
- Denso Corporation
- Mando Corporation
- BYD Auto Co. Ltd
- BorgWarner Inc.
- Metric Mind Corporation
- Allison Transmission Inc.
- Mitsubishi Electric Corporation
- Allied Motion Technologies Inc.
- Siemens AG
For Right Perspective Competitive Insights on Electric Vehicle Motors Market, Request for a Sample
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyse information. Now avail flexible Research Subscriptions, and access Research multi-format through downloadable databooks, infographics, charts, interactive playbook for data visualization and full reports through MarketNgage, the unified market intelligence engine. Sign Up for a 7 day free trial!
Mr. Rohit Bhisey
Transparency Market Research,
90 State Street, Suite 700,
Albany, NY 12207
USA – Canada Toll Free: 866-552-3453