Transparency Market Research in its new report titled, “Direct Drive Motor Market for Electric Vehicle – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the direct drive motor market for electric vehicle. The TMR report anticipates that the emphasis of a majority of OEMs on low-cost solutions for reducing greenhouse gas emission, increasing government support for green transportation in developed countries, and various tax incentives offered by government bodies for electric vehicles will fuel the growth of the direct drive motor market for electric vehicle during the forecast period i.e, 2018-2026.
The report has segregated the direct drive motor market in terms of motor type, vehicle type, industry, and region. In accordance with motor type, the direct drive motor market is split into high-speed motor, medium-speed motor, and one other segment. A high-speed direct drive motor possesses an advantage over the other two types of motors, wherein it can be installed in high performance passenger cars and commercial vehicles.
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Based on vehicle type, the direct drive motor market is classified into passenger vehicles and commercial vehicles. In passenger vehicles, the demand for hatchback cars, sedan, and multi-purpose vehicle and sports utility vehicles is expected to be high. According to the report, increased demand for fuel-efficient vehicles and government policies across the globe are anticipated to drive demand for direct drive motor market during the forecast period, due to the high demand for electric vehicles. The passenger vehicles segment is estimated to dominate the direct drive motor market during the forecast period.
In terms of industry, the direct drive motor market is bifurcated into automotive, medical, aerospace, defense, and industrial sectors. In the automotive industry, the adoption of direct drive motors is gaining popularity owing to the rising demand for fuel efficient vehicles, increasing production of electric vehicles, and stringent emission norms by government regulatory bodies across the globe. These factors are projected to fuel the direct drive motor market during forecast period and the automotive industry segment is likely to hold a prominent share of the direct drive motor market, anticipates the TMR report.
From a regional perspective, the direct drive motor market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Among these, TMR expects the North America region to lead the direct drive motor market during the forecast period owing to the booming automotive industry in the region. In the U.S., sales of electric vehicles have risen at an average of 32%, annually, from 2012 to 2016, and 45% over the year ending June 2017. Strong policy support from state, low operational cost, and rapid decline in battery cost boost the electric vehicle sales in the U.S. and it is likely to continue during forecast period.
Some of the prominent players operating in the direct drive motor market are profiled in this report to give a better competitive analysis and these include Magnetic Innovations, Kollmorgen, Continental AG, TM4, and PROTEAN ELECTRIC.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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