Electric Vehicle Motor Controller Market

Global Electric Vehicle Motor Controller Market Research Report Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032: By Product Type (AC Permanent Magnet Synchronous Motor Controller, AC Asynchronous Motor Controller, and DC Motor Controller), By Application (Pure Electric Vehicle, Full Hybrid Electric Vehicle, Mile Hybrid Electric Vehicle, and Plug-in Hybrid Electric Vehicle), By Power Output (1-20 kW, 21-40 kW, 41-80 kW, and Above 80 kW), and Region (North America, Europe, Asia-Pacific, and Rest of the World)

Automobile & Transportation | February 2024 | Report ID: EMR00549 | Pages: 301

The global electric vehicle motor controller market was valued at USD 5.98 billion in 2023 and is estimated to reach approximately USD 28.76 billion by 2032, at a CAGR of 19.0% from 2024 to 2032.

The market for electric vehicle motor controllers is expanding quickly as the car industry shifts to more environmentally friendly forms of transportation. This essential part controls how much power the electric motor receives from the battery to maximize performance and efficiency. The market for motor controllers is growing to support a variety of vehicle types, including electric automobiles and e-bikes, in response to the growing demand for electric vehicles (EVs). Technological innovations like smart control functions and regenerative brakes add even more appeal to these controllers. As the world's energy transition quickens, the market for electric vehicle motor controllers is essential to propelling the advancement of electric vehicles.

 

 

ELECTRIC VEHICLE MOTOR CONTROLLER MARKET: REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2023)

5.98 Bn

Projected Market Value (2032)

28.76 Bn

Base Year

2023

Forecast Years

2024 - 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Product Type, By Application, By Power Output, & Region

Segments Covered

By Product Type, By Application, By Power Output, & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Electric Vehicle Motor Controllers Market Dynamics

Government incentives and rising consumer awareness of sustainability drive market expansion. Controller efficiency is improved by technological advancements like semiconductors made of silicon carbide and gallium nitride. Additionally, research and development projects are fueled by partnerships between technology and automotive industries. Cost limitations and the requirement for uniform methods are obstacles. All things considered, the market is defined by the dynamic interaction of changing laws, developing technology, and the car industry's dedication to realizing an electrified and sustainable future.

 

Global Electric Vehicle Motor Controllers Market Drivers

  • Rising Adoption of Electric Vehicles (EVs)

Electric vehicles (EVs) are becoming more and more popular among consumers as the world places more focus on environmentally friendly and sustainable transportation. An increasing number of sophisticated and effective motor controllers are needed as this transition quickens. These elements are essential for maximizing efficiency and performance by controlling the power transfer from the battery to the electric motor. Since the industry is trending in the direction of EV adoption, manufacturers are being compelled to innovate and meet the needs of the growing electric mobility market.

  • Technological Advancements

Developments in semiconductor materials, such as gallium nitride and silicon carbide, have led to the creation of motor controllers with higher performance and efficiency. These developments improve power conversion and control, which raises the overall efficiency of electric cars. Further enhancing the capabilities of motor controllers is the integration of regenerative braking systems and smart features, made possible by technological advancement. As the sector develops, continuing technical advancements not only solve present issues but also create a competitive environment that promotes the use of state-of-the-art electric car motor controller solutions.

 

Restraints:

  • High Manufacturing and Material Costs

Advanced motor controller production involves sophisticated technology and high-quality materials, which raises production costs. Electric vehicles (EVs) may not be widely adopted due to these costs, which are frequently reflected in the final product price, which can impede market expansion. In order to overcome this obstacle, ongoing efforts must be made to streamline production procedures, look into affordable materials, and take advantage of economies of scale. For electric vehicles and related parts, such as motor controllers, to be more widely available to consumers, the high cost barrier must be removed.

  • Supply Chain Disruptions

Natural catastrophes, geopolitical unrest, or other unanticipated occurrences can all cause supply chain disruptions that might result in shortages of essential parts and supplies. The industry's capacity to fulfill rising demand may be hampered by these disruptions, which could restrict the manufacture and supply of motor controllers for electric vehicles. It is crucial to have a robust and diverse supply chain in order to reduce risks, keep up steady manufacturing, and keep the electric car market growing. For the market to remain stable over the long run, proactive steps to mitigate supply chain vulnerabilities are essential.

 

Opportunities:

  • Advancements in Power Electronics

Innovation is stimulated by improved semiconductor materials such as gallium nitride and silicon carbide, which improve motor controller performance and efficiency. Better, more affordable, and energy-efficient solutions are now possible because to this advancement. Opportunities to create complex motor control systems that allow for precise regulation of electric vehicle powertrains arise as power electronics advance. The market is positioned for continuous expansion because to the synergy between power electronics and electric vehicle technology, which offers the opportunity for improved performance and increased energy efficiency in the changing electric mobility scenario.

  • Innovations in Smart and Connected Vehicles

Modern motor controllers that can handle intricate communication networks and real-time data analytics are in high demand as a result of the integration of cognitive technology into electric vehicles (EVs). There is potential to improve the effectiveness and performance of motor controllers using smart features including adaptive control algorithms and predictive maintenance. Further, as the market for connected EVs develops, new opportunities arise. In this dynamic environment, electric vehicle motor controllers that are sensitive and adaptable will be essential in determining the direction of connected and intelligent transportation in the future.

 

Segment Overview

  • By Product Type

Based on product type, the global electric vehicle motor controller market is divided into AC permanent magnet synchronous motor controllers, AC asynchronous motor controllers, and DC motor controllers. The AC permanent magnet synchronous motor controller category dominates the market with the largest revenue share in 2023. These controllers provide accurate control and excellent efficiency since they are designed specifically for permanent magnet synchronous motors. Ideal for electric cars because of their enhanced energy efficiency and smooth power supply capabilities. Designed for asynchronous or induction motors, AC asynchronous motor controllers provide electric car manufacturers with affordable solutions. Specially designed for direct current (DC) motors, which are frequently used in more straightforward and affordable electric car designs.

  • By Application

Based on the application, the global electric vehicle motor controller market is categorized into pure electric vehicles, full hybrid electric vehicles, mild hybrid electric vehicles, and plug-in hybrid electric Vehicles. The full hybrid electric vehicle category leads the global electric vehicle motor controller market with the largest revenue share in 2023. Full hybrid electric vehicles (HEVs) have an internal combustion engine, an electric motor, and a battery. By helping the engine accelerate and drive at low speeds, the electric motor increases fuel efficiency. Similar to full hybrids, mild hybrid electric vehicles (MHEVs) combine an internal combustion engine and an electric motor; however, the electric motor offers less power assistance. Regenerative braking and start-stop technologies are common in mild hybrid vehicles to improve fuel economy.

  • By Power Output

Based on power output, the global electric vehicle motor controller market is segmented into 1-20 kW, 21-40 kW, 41-80 kW, and above 80 kW. The 41-80 kW segment dominates the electric vehicle motor controller market. Larger electric cars, such as mid-sized electric SUVs and electric sedans, are suited for controllers in this range. Increases power output to enhance performance and acceleration. Mid-range power controllers are designed to work with a wider variety of electric vehicles, such as certain larger scooters and compact cars. Also provides a power-to-energy-efficiency ratio that works for a range of applications. High-performance electric SUVs and sports cars, as well as other performance-oriented electric vehicles, are fitted with high-power motor controllers.

 

Global Electric Vehicle Motor Controllers Market Overview by Region

The global electric vehicle motor controller market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. North America emerged as the leading region, capturing the largest market share in 2023. Due to favorable legislative frameworks, government incentives, and growing environmental consciousness, the region has seen a sharp increase in the adoption of electric vehicles. North America's leadership has been strengthened by technological developments in electric mobility and a well-established charging infrastructure. North America plays a leading role in shaping and propelling the electric vehicle motor controller market due to the presence of major industry players, continuous research and development efforts, and a growing consumer preference for environmentally friendly transportation.

Throughout the forecast period, Asia-Pacific is anticipated to post a significant CAGR. The region's vital role as a global hub for electric car manufacturing, coupled with an increase in government programs supporting environmentally friendly transportation, is credited with this expansion. The Asia-Pacific region's desire for electric vehicles is driven by factors such as rapid urbanization, an expanding middle class, and more awareness of environmental issues.

 

 

Global Electric Vehicle Motor Controllers Market Competitive Landscape

In the global electric vehicle motor controller market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global electric vehicle motor controller market include,

  • Toyota Industries Corporation
  • Siemens AG
  • Continental AG
  • Robert Bosch GmbH
  • American Motors Corporation
  • Hitachi Automotive Systems
  • Shanghai E-drive Co. Ltd.
  • Denso Corporation
  • Chroma ATE Inc.
  • Fuji Electric Co. Ltd, and various others.

 

Global Electric Vehicle Motor Controllers Market Recent Developments

  • In February 2023, The Global Innovation & Technology Alliance awarded an INR 33 crore grant to Virtual Forest, an Indian manufacturer of motor control electronics, and Redler Technologies, a leading Israeli company in motion control and power distribution solutions, to develop ASIL-certified electric vehicle motor controllers for light three-wheelers intended for the international market.
  • In November 2022, Under the MAKE IN INDIA initiative for the future of e-mobility, Weber Drivetrain, an Indian startup focused on EV technology, announced the official opening of its state-of-the-art automated manufacturing facility in Chakan MIDC, Pune, India. The facility is funded in part by an investment of Rs 35 crores for Phase 1, which lays the groundwork for the manufacturing unit.
  • In August 2022, In order to supply the triple-clutch transmission, hydraulic control unit, motor, and motor controller for ChangAn Automobile's Oshan Z6 iDD PHEV—which will feature a Blue Core triple-clutch electric drive transmission unit—BorgWarner stated that it has agreed with ChangAn Automobile.

 

Scope of the Global Electric Vehicle Motor Controllers Market Report

Electric Vehicle Motor Controllers Market Report Segmentation

ATTRIBUTE

DETAILS

By Product Type

  • AC Permanent Magnet Synchronous Motor Controller
  • AC Asynchronous Motor Controller
  • DC Motor Controller

By Application

  • Pure Electric Vehicle
  • Full Hybrid Electric Vehicle
  • Mild Hybrid Electric Vehicle
  • Plug-in Hybrid Electric Vehicle

By Power Output

  • 1-20 kW
  • 21-40 kW
  • 41-80 kW
  • Above 80 kW

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Electric Vehicle Motor Controllers Market Size and Forecast: To identify and estimate the market size for the global electric vehicle motor controller market segmented by product type, by application, by power output, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of electric vehicle motor controllers between 2019 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global electric vehicle motor controller market
  • Market Influencing Factors: To find out the factors which are affecting the sales of electric vehicle motor controllers among consumers
  • Impact of COVID-19: To identify and understand the various factors involved in the global electric vehicle motor controllers market affected by the pandemic
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

 

Intended Audience

  • Automotive Manufacturers
  • Technology Providers
  • Investors and Financial Institutions
  • Government and Regulatory Bodies
  • Research and Development Professionals

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

On the basis of Geography, the electric vehicle motor controller market is classified into North America, Europe, Asia Pacific, and the Rest of the world.
According to electric vehicle motor controller market research, the market is expected to grow at a CAGR of ~19.0% over the coming years.
Asia-Pacific is expected to register the highest CAGR during 2024 - 2032
North America held the largest share in 2023.
The major players operating in the global electric vehicle motor controller market include Toyota Industries Corporation, Siemens AG, Continental AG, Robert Bosch GmbH, American Motors Corporation, Hitachi Automotive Systems, Shanghai E-drive Co. Ltd., Denso Corporation, Chroma ATE Inc., Fuji Electric Co. Ltd., and various others.