Electric motor market expected to flourish in the next decade

Developments in the electric vehicle market are expected to boost growth in the electric motor market according to consulting and research organisations IDTechEX and Frost & Sullivan. As electric vehicles head towards mass production, the model of electric motor supply also requires changes in the future. In its 2012 market forecast with a ten year horizon, IDTechEX, a consulting and research organisation, argues that: “Any motor manufacturer without a compelling line up of electric vehicles by 2025 is sign
September 19, 2012 Read time: 2 mins
Developments in the electric vehicle market are expected to boost growth in the electric motor market according to consulting and research organisations 6582 IDTechEX and Frost & Sullivan. As electric vehicles head towards mass production, the model of electric motor supply also requires changes in the future.

In its 2012 market forecast with a ten year horizon, IDTechEX, a consulting and research organisation, argues that: “Any motor manufacturer without a compelling line up of electric vehicles by 2025 is signing its death warrant.” Analysis by another research institute, Frost & Sullivan, also concludes that the booming EV market will bring business opportunities for suppliers of electric motors.
 
Frost & Sullivan predicts that the electric motor markets for hybrid and electric vehicles in both Europe and North America are expected to increase to 4.8 million units by 2017. The European traction motor market alone will grow to 2.3 million units in 2017.
 
In terms of EV motor production, IDTechEX believes that in the next decade, China and the USA will host 32 per cent and 28 per cent of all electric traction motor suppliers respectively.
 
In IDTechEX’s report “Electric Motors for Electric Vehicles 2012-2022”, Dr Peter Harrop concludes that motors designed for small electric vehicles such as electric scooters, e-bikes and golf cars, dominate the current market of traction motors for electric vehicles. 92 per cent of EV traction motors are produced for these small electric vehicles in the current market.
 
Harrop believes that as the EV market booms, the market share of larger EV motors will also increase. By 2022, the market share of motors for e-bikes and e-scooters will be reduced to 25% of the overall electric vehicle motor market while the share for large EV motors will grow.

For more information on companies in this article

Related Content

  • US drivers turning to alternative fuel vehicles says research
    December 19, 2012
    Increasing numbers of US customers are turning to alternative fuel vehicles, according to the latest research from Mintel, which shows that sales are up 73%, with nearly 440,000 hybrid, plug-in hybrid, and electrics sold thus far this year. The rapid sales growth in hybrid and electric vehicles makes the segment the fastest growing in the US for 2012, supplanting the still fast growing, compact car vehicle segment. The number of plug-in and electric models available to the public has nearly quadrupled over
    Read More
  • Pennsylvania transportation cut ‘would jeopardise local jobs’
    August 2, 2013
    Cutting highway and bridge work by 25 per cent in any given year, and then sustaining it in the years ahead, would cost Pennsylvania US$1.25 billion in lost economic activity over a five-year period and put as many as 9,600 jobs permanently at risk, the American Road & Transportation Builders Association’s (ARTBA) chief economist told state lawmakers at a recent hearing. Dr Alison Premo Black was invited to testify before the Pennsylvania Senate Transportation committee based on a report she authored on beh
    Read More
  • Autonomous vehicles – saviour and threat, says report
    November 1, 2016
    A new report from IDTechEx Research notes that autonomous vehicles need no pilot, not even one in reserve. Many truly autonomous vehicles are unmanned mobile robots prowling everywhere from the ocean depths to nuclear power stations, the upper atmosphere and outer space. They create billion dollar businesses such as aircraft and airships aloft for five to ten years on sunshine alone carrying out surveillance or beaming the internet to the 4.5 billion people who lack it. Independence of energy and electri
    Read More
  • Report forecasts growth in global markets for intelligent transportation systems
    November 1, 2012
    A new report by information service provider Global Information says that intelligent transportation systems (ITS) improve public transport and traffic management to reduce traffic congestion, promote smoother and safer driving and improve coordinate and overall smarter use of transport networks. The development of intelligent infrastructures – from roads to bridges – is primarily a governmental responsibility while the domain of developing intelligent vehicles belongs to the commercial side. Both private a
    Read More

Highlighted Content