European Electric Vehicle Motor Market 2019-2025

European Electric Vehicle Motor Market Size, Share & Trends Analysis Report by Motor Type (DC Motor and AC Motor), by Propulsion Technology (Battery Electric Vehicle (BEV) and Plug-in Hybrid Electric Vehicle (PHEV)), by Vehicle Type (Passenger Cars, Commercial Vehicle, and Others) and Forecast 2019-2025.

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.

European electric vehicle motor market is segmented on the basis of 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 segmented into battery-electric vehicles and plug-in hybrid electric vehicles. The battery-electric vehicle segment is projected to hold a major market share during the forecast period. 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. by geography, the market is segmented into Germany, UK, France, Italy, Spain and Rest of Europe. During the forecast period, Germany is expected to hold a major market share as various EV manufacturing plants are located in the country.

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.

Research Methodology

The market study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors.

Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts to brings authenticity to the reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation:

1. European Electric Vehicle Motor Market Research and Analysis by Motor Type
2. European Electric Vehicle Motor Market Research and Analysis by Propulsion Technology
3. European Electric Vehicle Motor Market Research and Analysis by Vehicle Type

The Report covers:

• Comprehensive research methodology of the 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 Electric Vehicle Motor Market.
• Insights about market determinants that are stimulating the European Electric Vehicle Motor Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.