China electric vehicle motor market is anticipated to grow with a significant CAGR of 20% during the forecast period. China is one of the largest electric vehicle producers across the globe with the presence of some of the automobile companies including SAIC, FAW, Dongfeng, Chana, BAIC, GAC, Chery, BYD, and Geely. Most of the EVs are manufactured domestically in the country and exported across the globe as well owing to which the market for electric vehicle motors is booming in China.
In addition, the country has one of the largest reserves of lithium which is an essential element for the production of li-Ion batteries; hence the country is aggressively driving the supply chain of electric vehicles including electric motors. Further, advanced technology for EV manufacturing and low-cost labor force due to which global automakers are expected to develop their manufacturing unit in the country is also driving the China electric vehicle motor industry.
A full report of China Electric Vehicle Motor Market is available at: https://www.omrglobal.com/industry-reports/china-electric-vehicle-motor-market
For instance, Tesla Inc. built its first Gigafactory in Shanghai, China, with an initial production rate of 250,000 EVs per year and produced its first car in December 2019. Additionally, in February 2020, Nidec Corp. announced that it will invest $910 million in the construction of new electric vehicle power plants in the world, providing about 3.6 million electric vehicles annually at a much lower price. This rising investment from the automaker is expected to propel the growth of the china electric vehicle motor market over the forecast period.
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Market Coverage
- The market number available for – 2018-2025
- Base year- 2018
- Forecast period- 2019-2025
- Segment Covered- Motor Type, Propulsion Technology, and Connector
- Region Covered- China
- Competitive Landscape- ABB Ltd., Tesla, Inc., Siemens AG, Robert Bosch GmbH, Eaton Corp.
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
China Electric Vehicle Motor Market Report Segment
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
- Other
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