The global light vehicle electric motors market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The light vehicle electric motors market is expected to witness profitable growth due to the increase in the number of electric vehicles, caused by its benefits such as zero emissions, low repair costs, high efficiency, and automatic control. However, the high initial cost of an electric car, as well as the high repair costs associated with an electric car hinder the market growth. In addition to these challenges, technological advances, such as the production of electric motors, are expected to boost market growth shortly. In addition, the proliferation of government programs related to electric vehicles is expected to provide various opportunities for market growth.
In March 2021, Siemens announced that the variant under its Simotics SD motor series will now be designed to deliver output of the Super Premium Efficiency (IE4) phase to comply with the European ERP Directive 2019/1781. The company also said its electric motors with a power output of 3 HP to more than 1,300 HP and various pole designs will be delivered to the IE4 spectrum.
Further, in February 2021, Johnson Electric introduced a new range of Low Voltage DCcomposites with compact size, high power density, low operating noise, and high torque, among other features. The new products are specially designed to provide a 17.0% longer life of Smart Furniture such as hospital beds, easily adjustable desks, smart recliners, and other consumer products. Such product launches are expected to drive the market growth.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Vehicle Type
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Honda Motors Co. Ltd., Toyota Motor Corp., Tesla Motors, Ford Motors Co., and Siemens AG, among others.
A full report is available at: https://orionmarketreports.com/global-light-vehicle-electric-motors-market/105964/
Global Light Vehicle Electric Motors Market Report by Segment
By Type
- Alternating Current Motor
Synchronous AC Motor
Induction AC Motors
- Direct Current Motor
Brushed DC Motors
Brushless DC Motors
Hermetic Motors
By Vehicle Type
- Two-Wheelers
- Commercial Vehicles
- Passenger Car
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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