Global Trends in Drive Motors

With the continuous increase in the penetration rate of electric vehicles worldwide, the drive motor industry will usher in the rapid expansion of the overall scale. In this process, third-party motor manufacturers with economies of scale and technological advantages will have the opportunity to rapidly expand their market share and gain substantial growth in their performance.

Global Drive Motor Market Trends

According to estimates, with the rapid advancement of global automotive electrification, the market for new energy vehicle motor systems will rapidly expand. The market size is expected to grow from $2.3 billion in 2015 to $31.8 billion in 2030.

The new energy vehicle motor system mainly includes two parts: the electric motor and the inverter. Although same as most other auto parts, these two parts are under downward pressure for a long time, but due to the increase in the total amount of new energy vehicles, the industry as a whole still has a comparatively Big room for growth. We expect that by 2030, the average annual growth rate of the market will be around 18%-20%.

In terms of system unit price, the overall development of the motor system toward high power has also brought about an increase in the assembly price.

According to estimates, under the assumption of neutrality, the sales of electric vehicles will reach 20 million units in 2030, accounting for about 16%-18% of the total sales of passenger cars in the year. However, if we put the optimistic scenario, that is, the battery price drops sharply and the environmental protection policy is more stringent, the growth rate of electric vehicle sales may rise sharply. We expect that the total annual sales of new energy vehicles may be optimistic under optimistic conditions. It reached the level of 30 million units, which accounted for about 25%-27% of the car sales in that year.

It is expected that the power demand of a single-motor hybrid vehicle will be approximately 30kw, that of a dual-motor plug-in hybrid is approximately 50-100kw, and that of a pure electric vehicle is approximately 200kw.