Automotive Electric Motors for EV Market
An electric motor is an electromechanical device that converts electrical energy into mechanical energy. The advent of motors has helped the world move from being manual to a highly mechanized one. The market for electric motors would be significantly driven by the widespread adoption of electric vehicles among people in various countries. Integrating of motors has been increasing with an increase in the number of motor manufacturers making motors with integral controls and integral gearing. The highly efficient motors, also known as premium efficiency motors, are gaining importance over standard motors due to their varied benefits such as longer operating life, low energy consumption, low maintenance, and tolerance for fluctuating voltages, etc. Low energy consumption is an advantage of energy efficient motors over standard motors. Thereby, the environmental advantages offered by these motors makes it acceptable in electric vehicles. The use of premium motors increases the efficiency of the application by approximately 20% as compared to standard motors, which in-turn saves the cost of energy consumed. The need for improved efficiency and low power consumption would continue to generate demand for high efficiency electric motors.
The market for electric motor of hybrid and electric vehicle is expected to reach $19 billion by the end of 2020. The global market for Electric Motors is projected to reach US$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 makes electric cars, which uses 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 would continue to do so till the forecast period. Asia Pacific countries would have the highest growth in the electric motor for hybrid and pure electric vehicles during the forecast period. The market is highly fragmented with regional and local players and thereby, strategic mergers and acquisitions is extensive in the market. Allied Motion Technology, Bosch, Denso are some of the prominent leaders in the motor for electric vehicle market.
To know more click here @http://www.mordorintelligence.com/industry-reports/automotive-electric-motors-for-ev-market
