Global Electric Vehicle Motor Controller Market - Drivers and Forecast from Technavio

Technavio has published a new report on the global EVM controller market from 2017-2021. (Graphic: Business Wire)

LONDON--()--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.
 

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

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.

Browse Related Reports:

Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like auto accessories, automotive manufacturing, and wheels and tires. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com