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Technavio’s market research report predicts that the global electric vehicle motor (EVM) controller market will grow at an impressive CAGR of nearly 43% during the forecast period. Stringent regulations on fuel efficiency and emissions that induces the adoption of high-level controllers is one of the primary drivers for market growth. Several countries have taken initiatives to reduce the greenhouse gas emissions and cut down on the effects of global warming. Countries such as China and India follow regulations that are similar to the Euro norms. Moreover, India also adheres to the BS IV norms and is planning on implementing BS VI norms by 2020. Japan follows standards that are similar to the US 2010 and the Euro 5 norms and is scheduling for a next revision by 2017. Such regulations induce the automobile manufacturers to produce zero emission or almost zero emission vehicles, which increases the focus on advanced power electronics and controller modules driving the growth of the market.
One of the latest trends that will gain traction in the global EVM controller market is the emergence of the vehicle to grid (V2G) charging and storage system. The vehicle-to-grid system is an advanced innovative concept from the wireless charging system (WCS) technology and the present trend in this technology is the reversal of the induction process wherein the charged vehicle powers back the grid. This power is utilized to run the office buildings or other facilities during peak hours and lower the power demand on national grids. Moreover, Nissan is anticipated to employ the V2G technology to power its new regional office in France, and the company is foreseen to implement the world’s largest grid integrated PEV system.
The global EVM controller market is largely split comprising of different vendors that are also key vendors for power electronics and motors for EVs. The manufacturers and suppliers of the EVM controllers are categorized into different groups in the market. With the increase in number of partnerships among automakers to enter new EV markets, the level of competition in the global EVM controller market will intensify in the coming years.
Key vendors in the market are:
Other prominent vendors include AMC, Air International Thermal Systems, Bosch, BYD, DENSO, EVS, Fuji Electric, FUJITSU, Hitachi Automotive Systems, Mitsubishi Electric, Metric Mind, SME, and TOYOTA INDUSTRIES CORPORATION.
During 2016, the full hybrid powertrain type segment dominated the global EVM controller market and is expected to continue its dominance over the next four years. This is mainly due to the introduction of fuel regulations and tax incentives that will drive the adoption of full hybrid EVMs in the future.
In terms of geography, APAC led the global EVM controller market during 2016 and is foreseen to continue the domination during the forecast period. The high production rates and sales of hybrid vehicles in Japan and electric vehicles in China mainly contribute to the market’s growth in the region. Moreover, initiatives from the governments of various countries in the region will also drive the growth of the market.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by powertrain type
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
Tags: servo motor, dc motor, car manufacturers, vehicle parts, automotive global market, automotive market trends,
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