The report of EV Motor Controller Market By End Use (Electric Bicycle, Passenger Vehicle, Commercial Vehicle), Controller Type (Si IGBT Motor Controller, SiC IGBT Motor Controller), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific) is expected to reach US$ xx Mn. by 2027, at a CAGR of 24 % during a forecast period.
The electric vehicle (EV) market is expanding and creating a market opportunity for various types of motors. The variations of speed, voltage and current can be achieved by the controller. The electric vehicle uses DC and AC motors, the electric vehicle motor controller market is growing owing to the growth in the electric vehicle market because electric vehicle offers high fuel efficiency and low emission of greenhouse gases, the EV Motor controller demand is likely to surge at a rapid pace in the forecasted years.
The global EV motor controller market can be segmented based on technology and region. The report includes the factors influencing the market across the various segments in detail. Global EV Motor market is developing in recent years. Due to the development of the automobile market and the emerging electric vehicle sector predicted to be a driving force for market of Global EV Motor Controller Market. The electric vehicle is getting more popular and offers promising growth in upcoming years.
Global EV Motor Controller Market: End Use
Global EV Motor Controller market is segmented by End-Use into Electric Bicycle, Passenger Vehicle and Commercial Vehicle. Passenger electric vehicle is expected to show huge growth in EV Motor Controller Market, owing to high demand for passenger electric vehicle in the forecasted period. The Electric bicycle is also a major segment highly growing its market presence will significantly grow the Global EV Motor Controller Market.
Global EV Motor Controller Market: Company Overview
Toyota Motors expected to launch a plug-in hybrid electric vehicle in the passenger vehicle segment. The vehicle is named Corolla and Levin which are launched in 2019. These vehicles have a hybrid engine which will drive in assist of electric motor. Toyota is also interested to invest in China for the production of batteries and inverters.
US car manufacturer Tesla is the foremost manufacturer in electric vehicles and green energy. Tesla manufacture plug-in hybrid electric vehicles as well as a fully electric vehicle.
German vehicle manufacturer BMW operates two segments of vehicle, automotive and motorbike. BMW has a Plug-in hybrid vehicle line up as X5, 330e, 530e and Mini Countryman that will be targeted to launch in 25 such vehicles at the end of 2025.
Global EV Motor Controller Market drivers
Use of micro-control modules indirectly uses micro-control modules to increase dynamic safety features.
Transportation demands are increasing.
Global EV Motor Controller Market challenges
Increase in controller price due to the complexity of functions and architecture.
Growing research on EVs will drive the Global EV Motor Controller Market.
Global EV Motor Controller Market trends
Growing adoption of SiC and GaN
Cleaner transportation is the demand for today’s world so the government encouraging the use of electric vehicles which will drive an electric vehicle.
The hybrid vehicle market is also arising which also needs EV Motor controller
Global EV Motor Controller Market: Regional Overview
By region, Global EV Motor Controller Market is segmented into Asia Pacific, North America, Europe, South America, and Middle East & Africa. Asia Pacific region shows a significant growth in the EV Motor Controller Market owing to the countries like China Japan Large Manufacturers of EV Motor Controller. Now day china is a major market for electric vehicles. These will drive EV Motor Controller Market.
Europe and North America have a significant market share technological advancement also rising in these regions. The rising electric car leasing market will be the future in this region which will make electric cars available easily. This will grow the EV Motor Controller Market in the forecasted period.
The MMR report will provide an accurate prediction of the contribution of the various segments to the growth of the EV Motor Controller Market size. By Capacity Type, the Heavy Duty segment was valued at US$ xx Mn in 2020 and is expected to reach US$ xx Mn by 2027 at a CAGR of xx% during the forecast period. Key players operating in the EV Motor Controller Market are Shenzhen Inovance Technology Co., Ltd., Jing-Jin Electric Technologies (Beijing) Co., Ltd., Nidec (Beijing) Drive Technologies Co., Ltd., Beijing Siemens Automotive E-Drive System Co., Ltd., Canadian Electric Vehicles Ltd, Prestolite E-Propulsion Systems (Beijing)
Limited,Shandong Deyang Electronics Technology Co., Ltd., JEE Automation Equipment Co., Ltd., DEC Dongfeng Electric Machinery Co., Ltd., Time High-Tech Co., Ltd., Fujian Fugong Power Technology Co., Ltd., Hunan CRRC Times Electric Vehicle Co., Ltd., Kelly
Controls, LLC, Shanghai E-drive Co., Ltd., Chroma ATE Inc., United Automotive Electronic Systems Co., Ltd. (UAES), Shenzhen V&T Technologies Co., Ltd., BYD, Parker, Delta Electronics, Zhuhai Enpower Electric Co., Ltd., Zhongshan Broad-Ocean Motor Co., Ltd.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the EV Motor Controller Market. The report encompasses the market by different segments and regions, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in the EV Motor Controller Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explains EV Motor Controller Market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “EV Motor Controller Market.”
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