LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global electric vehicle motor (EVM) controller market to grow to USD 16.87 billion by 2021, at a CAGR of close to 43% over the forecast period, according to their latest report.
The research study by Technavio on the global electric vehicle motor (EVM) controller market for 2017-2021 provides a detailed industry analysis based on the powertrain type (mild hybrids, full hybrids, plug-in hybrids, and pure electric vehicles) and geography (APAC, North America, and Europe).
|An electric vehicle (EV) motor controller is a device that is used to control the torque produced by electric motors by regulating the energy flow between the motor and power sources. Full hybrids constitute the leading segment of the global electric vehicle motor controller market, occupying 67% of the global shares.|
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Technavio analysts highlight the following three factors that are contributing to the growth of the global electric vehicle motor controller market:
- Use of micro control modules in direct drives
- Increasing product portfolio and adoption toward electric vehicles (EVs)
- Stringent regulations on fuel efficiency and emissions to adapt high-level controllers
Use of micro control modules in direct drives
“The need to incorporate dynamic safety features has pushed for the adoption of micro control modules in direct drives. This feature eliminates the need for the transmission since no shifting of power is needed for electric motors,” says Siddharth Jaiswal, a lead analyst at Technavio for automotive electronics research.
Vehicles that are equipped with in-wheel motors are expected to be launched near the beginning of the forecast period, which will greatly boost the market revenue. Such vehicles will have the wheels equipped with motors, which can control each wheel independently, thereby giving an electronic control on brakes and acceleration.
Increasing product portfolio and adoption toward electric vehicles (EVs)
The development and adoption of green vehicles such as EVs and hybrids are quickly emerging as the key solution to reduce the emission of greenhouse gases. Alternative fuel vehicles run on alternative sources of energy such as electricity, hybrid energy, solar energy, wind energy, or biofuels.
Many automotive manufacturers are introducing innovative and technologically advanced vehicles, following this green trend. The stringent regulatory scenario regarding fuel emissions and tax incentives based on the same in various governments belonging to APAC, North America, and Europe will also act as a key driver for the market.
Stringent regulations on fuel efficiency and emissions to adapt high-level controllers
“Many governments have set emission standards and fuel consumption levels to bring down the overall carbon footprint. Automakers are investing towards the R&D with a vision to develop zero emission vehicles or nearly zero emission vehicles,” says Siddharth.
The adoption of complex control algorithms has led to decreased power losses in the energy conversion between the engine and battery and the switching losses in power electronics. Hence, these regulations have increased the focus on advanced power electronics and controller modules.
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