European Electric Vehicle Motor market is anticipated to grow at a CAGR of more than 20% during the forecast period, 2019-2025. In 2019, Europe was among the highest growing market of electric vehicles globally as a downfall in electric vehicle sales was registered in the US, and Japan. As per the European Automobile Manufacturers Association, around 564,000 electric cars were sold in Europe with a growth of 45.5% YoY in 2019. It provides a significant opportunity for the EV automakers to construct a new EV plant in the country. Favorable government policies, and subsidies, increasing awareness of pollution are some of the major factors for the growth of the EV as well as its electric motor market in the region.
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Key companies contributing to the market include Nidec Corp., Siemens AG, Tesla Inc., ABB Ltd., BorgWarner Inc., Continental AG, Hitachi Automotive Systems, Ltd., Valeo SA, Parker-Hannifin Corp., WEG Industries and so on. The market players are considerably contributing to the market growth by adopting various growth strategies including new product launch, merger and acquisition, collaborations with government, and technological advancements to stay competitive in the market. For instance, Nidec Corp. announced to invest $1.8 billion to develop three new electric plants globally, out of which one will be in constructed in Poland. The company aims to invest $455 million and from FY 2021, the plant will produce 2.4 million electric motors annually for the vehicle.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
European European Electric Vehicle Motor Market by Motor Type
- DC Motor
- AC Motor
European European Electric Vehicle Motor Market by Propulsion Technology
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
European European Electric Vehicle Motor Market by Vehicle Type
- Passenger Cars
- Commercial Vehicle
- Others (Two-Wheeler)
Regional Analysis
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
Company Profiles
- ABB Ltd.
- Avid Technology Ltd.
- BorgWarner Inc.
- Continental AG
- Hitachi Automotive Systems, Ltd.
- Magnetic Systems Technology Ltd.
- Nidec Corp.
- Parker-Hannifin Corp.
- Protean Electric
- Robert Bosch GmbH
- Siemens AG
- Tesla Inc.
- Toshiba International Corp.
- Valeo SA
- WEG Industries
- YASA Ltd.
- ZF TRW Automotive Holdings Corp.
- Zytek Group Ltd.
The Report Covers
- Comprehensive research methodology of the European European 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 the European European Electric Vehicle Motor Market.
- Insights about market determinants that are stimulating the European European 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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