China Electric Vehicle Motor market is anticipated to grow at a CAGR of more than 20% during the forecast period, 2019-2025. The country is the largest electric vehicle market globally with covering around 50% of the global electric sales. Though, in 2019, the government revoked multiple subsidies on electric cars which resulted in a downfall in the sales of the EVs in the second half of 2019. Most of the electric cars and commercial EVs are manufactured domestically in the country which is providing a significant market to the China Electric Vehicle Motor in the country. Moreover, the company has one of the highest reserves of lithium (a key raw material for battery manufacturing), advance technologies for EV manufacturing, and low-cost workforce due to which global automakers are expected to establish their manufacturing unit in the country. For instance, Tesla Inc. constructed its first Gigafactory in Shanghai, China with an initial production rate of 250,000 EVs per year and manufactured its first car in December 2019.
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China China Electric Vehicle Motor market is segmented based on motor type, propulsion technology, and vehicle type. On the basis of motor type, the market is analyzed into the AC motor and DC motor. By propulsion technology, the market is further divided into battery-electric vehicles and plug-in hybrid electric vehicles. Battery-China Electric Vehicle Motor is projected to show a considerable market growth in the country. By vehicle type, the market is further analyzed into passenger cars, commercial vehicles, and others. The passenger vehicle segment will have a major market share during the forecast period.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
China Electric Vehicle Motor Market Report Segment
By Motor Type
- DC Motor
- AC Motor
By Propulsion Technology
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
By Vehicle Type
- Passenger Cars
- Commercial Vehicle
- Other (Two-Wheeler)
The Report Covers
- Comprehensive research methodology of China China Electric Vehicle Motor Market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting China China Electric Vehicle Motor Market.
- Insights about market determinants which are stimulating China China Electric Vehicle Motor Market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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