Market Research Future (MRFR) has launched a new release on the global COVID-19 impact on Electric Vehicle Motor Market. The report presents a thorough overview of the global [FURL=https://www.marketresearchfuture.com/reports/electric-vehicle-motor-market-5385 ]COVID-19 impact on Electric Vehicle Motor Market [/FURL] on the back of a detailed analysis of the market’s historical growth trajectory and leading segments. The market’s historical growth trajectory is assessed in detail in the report in order to understand the major factors underlying the market’s growth in the study period.Market Synopsis:
The electric motor helps to convert electrical energy into mechanical energy for propulsion of the vehicle, with the objective of enabling regenerative braking or charging energies to generate electricity stored on board. Market Research Future (MRFR) has published a research report about the global COVID-19 impact on Electric Vehicle Motor Market that anticipates hike for this market at 20% CAGR (Compound Annual Growth Rate) during the forecast period between 2017 and 2023.
The key factor driving the global COVID-19 impact on Electric Vehicle Motor Market growth is the increase in demand for improving the driving range of electric vehicles because the range of the electric vehicle heavily depends on the electric powertrain control systems. Other factors contributing to the market growth include government regulations to reduce carbon emissions, the introduction of tax incentives, and government subsidies for electric vehicles (EV) manufacturers and end users in order to encourage the use of EV.
The global COVID-19 impact on Electric Vehicle Motor Market has been segmented on the basis of motor type, power rating, and lastly, region. By motor type, this market has been segmented into Direct Current (DC) brushed motors, DC brushless motors, induction (asynchronous) motor, switched reluctance motor, and synchronous motor. Based on power rating, the market has been segmented into below 40 Kilo Watt (KW), 40 KW-80 KW, and above 80 KW.
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Key Players
The key players in the global COVID-19 impact on Electric Vehicle Motor Market include Allied Motion Technologies Inc. (USA), BYD Auto Co. Ltd. (China), Continental AG (Germany), Denso Corporation (Japan), Hitachi Automotive Systems Ltd. (Japan), Metric Mind Corporation (USA), Mitsubishi Electric Corporation (Japan), Robert Bosch GmbH (Germany), Siemens AG (Germany), and Tesla Inc. (USA).
Latest Industry News
• Japanese precision motor maker company Nidec will expand a Chinese site still under construction in order to double capacity for electric vehicle motors due to Beijing's stronger environmental regulations. 15 FEB 2019
• Electric car startup Rivian has secured the US $ 700 mn in funding from an Amazon-led group of investors. The cash injection will help the Rivian to expand its operations and bring its electric UTE and SUV to market by 2020. 18 FEB 2019
• YASA, the world’s leading manufacturer of axial-flux electric motors and controllers, has signed a long-term joint innovation agreement with a global automotive OEM. The partnership as per this agreement will focus on developing custom electric motor as well
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