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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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.
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European Electric Vehicle Motor Market Segmentation
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
• Others (Two-Wheeler)
• Rest of Europe
• 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.
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