DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Automotive Electric Motors for EV Market - Forecasts and Trends (2017 - 2022)" report to their offering.
The market for electric motors for electric vehicles is expected to reach USD 20.35 billion by the end of 2021.
The global market for electric motors is projected to reach USD 121 billion by 2020, driven by the growing global activity in the electric vehicle industry. There are a lot of electric motors out there but the majority of the motors used in electric cars are: the series wound DC motor, the permanent magnet motor, and the 3-phase AC motor. AC electric motor is more popular than DC electric motor.
Major electric vehicle manufacturers like GM, Ford, and Toyota make electric cars that use AC electric car motors. The AC system is perfectly set to generate regenerative energy for braking as readily as it gives out energy under acceleration. A lot of energy from the battery can be recovered during the normal driving process using the AC system motors. However, the DC motors usually cost less than AC motors and are easily available.
Europe is expected to dominate the market by the end of 2015 and is expected to continue to do so till the end of the forecast period. Asia-Pacific countries are forecasted to have the highest growth in the electric motor for hybrid and pure electric vehicles. The market is fragmented into regional and local players and thereby, strategic mergers and acquisitions are extensive in the market.
Some of the key players in the market are:
- Allied Motion Technologies
- Siemens AG
Other Companies Mentioned
- Ametek Inc
- ARC Systems
- Baldor Electric
- Emerson Electric Co.
- Faulhaber Group
- Johnson Electric Holding
- Maxon Motor AG
For more information about this report visit http://www.researchandmarkets.com/research/qv7874/global_automotive