Global Climate Concerns Coupled with Demand for Low Cost Vehicle Expected to Promote the Electric Vehicle Use during the Forecast Period: Ken Research

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An electric vehicle is popularly known as EV, use electric motors or the traction motors for propulsion and movement. An electric vehicle is powered with a collector system, electricity generated from vehicle or may be powered with a battery inside. The automotive industry is on a verge of interruption by the new trends in mobility this include features like electrification, connectivity and autonomous driving techniques. Initiatives to develop a low- cost, fast charging battery technologies which supports thelong-range use set to yield the promising results.

According to study, “Global Electric Vehicles Components Market (Motors, Drives, Motor Control)” some of the major companies that are currently working in the global electric vehicles components market are BorgWarner Inc., Aisin Seiki Co. Ltd., A123 Systems, Aptiv Plc., Borgwarner Inc., Blue Energy Company Ltd. (Gs Yuasa), Zhongshan Broad-Ocean Motor Co. Ltd., Robert Bosch GmbH, Siemens AG, Continental AG, Bayerische Motoren Werke Aktiengesellschaft, Daimler AG, BYD Company Ltd., Jing-Jin Electric Technologies Co., Ltd., China Automotive Systems Inc., Magna International Inc., Maxwell Technologies Inc., Magneti Marelli S.P.A., PrimearthEv Energy Co. Ltd., Automotive Energy Supply Corporation, Mitsubishi Electric Corporation, Infineon Technologies, Microsemi Corporation, Denso Corporation, Continental Automotive, Denso Corp., NSK Ltd., Continental Ag, Eaton Corp. Plc., Nidec Corporation, Energica Motor Company S. p. A, Hitachi Automotive Systems, Ltd., Johnson Controls Inc., Jatco Ltd., Lg Chem, Ltd., Ford Motor Company, Samsung Sdi Co., Ltd., Saft Groupe Sa, Fuji Electric Co. Ltd., Valeo S.A., General Motors Company, UQM Technologies Inc., Yazaki Corp., Samsung SDI, Volkswagen AG, Toyota Motor Corp., Nissan Motor Co., Ltd., Visteon Corp., Panasonic Corporation, ZF Friedrichshafen Ag, Toyota Motor Corporation, Keihin Corp., Tesla, Inc., MEIDENSHA CORPORATION, LG Electronics, Shuanglin Group.

Based on the component, the electric vehicles components market is segmented into vehicle body, battery pack, equipment, chassis, drive-train and others. Based on motor type, the market is segmented into induction motor and synchronous motor. Based on motor capacity, the market is segmented into <40 KW, 40 KW to 80 KW and >80 KW. Based on propulsion type, the market is segmented into Plug-in hybrid electric vehicle (PHEV), Hybrid Electric Vehicle (HEV), Fuel Cell Electric Vehicle (FCEV) and Battery Electric Vehicle (BEV). BEV runs on a battery & electric traction motor without an Internal Combustion Engine (ICE). Based on the vehicle type, the market is segmented into commercial vehicle, passenger car and two-wheeler vehicle. The vehicle infrastructure market is segmented into tesla supercharger, normal charge and chademo. In addition, the application, the market is segmented into electric bus, electric car and electric scooter.

The market of electric vehicles components is primarily driven by the increase in focus on the expanding electric vehicle charging infrastructure, followed by increasing government initiatives on electric vehicle adoption. Some of the restraints of market are lack of awareness about potential cost benefits of electric vehicles and end-user concerns on switching to electric vehicle. In addition, the changing urban mobility is main opportunity for the market growth. Accepting a shared typical EV standard for charging, followed by the subsidies, and extending the associations with the entire value chain to promote and accept transition in the technology development and economies of scale providing a platform for the EV market development to support EV market development over the forecast period. Moreover, it is estimated that the future of global electric vehicles components market to be bright owing to increase in preference for electrification of the public fleet.

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