Wilmington, Delaware, United States, June 06, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Surge in adoption of brushless DC motors in electric vehicles is ascribed to several advantages of the motor type over brushed motors, such as high durability, low electric noise generation, and precise control of the torque that is generated.
Rise in incorporation of brushless DC motors in electric 2-wheeler has generated significant revenue opportunities for companies in the market. The electric vehicle brushless DC motors market was valued at US$ 11.4 Bn in 2022 and is projected to reach US$ 15.7 Bn by 2031.
Battery manufacturers are offering advanced chemistries to improve performance of EV motors in order to bolster controllability of brushless DC motors. Demand for efficient propulsion systems has led to rapid shift from brushed DC motors toward brushless DC motors.
Recent market trends indicate a surge in incorporation of compact brushless DC motors in next-generation of electric vehicles due to their attractive traction characteristics, which is expected to broaden market outlook.
Electric vehicle manufacturers are adopting smart charging technology and smart vehicle-to-grid technology. These technologies are likely to spur demand for electric vehicles and will positively influence the electric vehicle brushless DC motors industry in the next few years.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 11.4 Bn | |
| Estimated Value | US$ 15.7 Bn | |
| Growth Rate - CAGR | 3.6% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 168 Pages | |
| Market Segmentation | Type, Component, Motor Control, Motor Speed, Application, Propulsion, Sales Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | ABB Group, BYD Auto, Continental AG, Denso Corporation, Geely, Hitachi Automotive Systems, Hyundai Mobis, Johnson Electric Holdings Limited, LG Electronics, Magna International, Mitsubishi Electric Corporation, Nidec Corporation, Robert Bosch GmbH, Siemens AG, Tesla, Toshiba Corporation, Valeo S.A., Yaskawa Electric Corporation, ZF Friedrichshafen AG, Other Key Players | |
Key Findings of Study
- Considerable Adoption of Brushless DC Motors to Improve Propulsion System: Significant adoption of advanced propulsion system in electric vehicles is bolstering demand for brushless DC motors. Rapid increase in demand for electric 2-wheelers with long driving range is likely to augment usage of brushless DC motors.
- Rapid electrification of passenger transport in many countries around the globe is expected to accelerate market development. Significant demand for commercial electric vehicles is also likely to present significant revenue opportunities for motor manufacturers.
- Need for Advanced Motor Technology in EVs: Rise in R&D activities in battery-powered DC motor technology to improve energy efficiency of EVs is broadening market outlook. Consistent advancement in permanent magnet technology used in brushless DC motors and rotor-stator design improvement are expected to bolster market growth in the next few years. Introduction of multi-phase brushless DC Motors for electric vehicles is anticipated to broaden market outlook.
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Key Growth Drivers: Electric Vehicle Brushless DC Motors Market
- Rise in e-mobility in transportation around the world is a key factor expected to drive the electric vehicle brushless DC motors. Governments of numerous countries are promoting environmental-friendly and sustainable urban transportation, which is expected to fuel commercialization of electric vehicles.
- Steady decline in the cost of electric components used in electric vehicles is anticipated to accelerate the market evolution. Need for improving driving range of passenger EVs is likely to fuel market development, since vehicle manufacturers are adopting advanced propulsion system.
Regional Growth Dynamics
Asia Pacific is anticipated to constitute the leading market share in the next few years. The region has presence of numerous prominent manufacturers of electric vehicles (EV). Considerable demand for brushless DC motors to meet requirements from newly produced electric vehicles is expected to fuel market growth in the region.
Constant focus of many EV manufacturers to unveil affordable passenger vehicles to cater to consumer demand in developing countries is expected to boost the demand dynamics in the market in Asia Pacific.
Continuous expansion of sustainable modes of urban transportation is poised to augment market size in Asia Pacific. Surge in utilization of advanced EV components is propelling the market in the region.
Competition Landscape: Electric Vehicle Brushless DC Motors Market
Prominent companies are focusing on a number of strategies to consolidate their positions, especially product launches, mergers, and acquisitions. The business landscape is highly competitive, with presence of a large number of companies competing between one another.
Leading players operating in the market are ABB Group, BYD Auto, Continental AG, Denso Corporation, Geely, Hitachi Automotive Systems, Hyundai Mobis, LG Electronics, Magna International, Mitsubishi Electric Corporation, Nidec Corporation, Robert Bosch GmBH, Siemens AG, Toshiba Corporation, Valeo S.A., and Tesla.
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Electric Vehicle Brushless DC Motors Market Segmentation
Type
- Inner Rotor
- Outer Rotor
Component
- Rotor
- Stator
- Bearing
- Enclosure
- Others
Motor Control
- Sensor-based
- Sensorless
Motor Speed
- Low-speed Motor (Less than 3000 rpm)
- Medium Speed Motor (3000 rpm – 10000 rpm)
- High-speed Motor (More than 10000 rpm)
Application
- Propulsion Motor
- Auxiliary Motor
Propulsion
- Battery Electric Vehicle (BEV)
- Plugin Hybrid Electric Vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
Sales Channel
- OEM
- Aftermarket
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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