Technavio has been monitoring the electric vehicle motor market and it is poised to grow by $5.38 bn during 2020-2024, progressing at a CAGR of about 21% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Request for Technavio's latest reports on directly and indirectly impacted markets. Market estimates include pre- and post-COVID-19 impact on the Electric Vehicle Motor Market. Download free sample report
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Allied Motion Technologies Inc., Continental AG, Delphi Technologies Plc, Denso Corp., Hitachi Ltd., Nissan Motor Corp., Robert Bosch GmbH, Siemens AG, Tesla Inc., and Toshiba Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Increasing sales of EVs has been instrumental in driving the growth of the market. However, high cost of batteries used in EVs might hamper the market growth.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. https://www.technavio.com/report/report/electric-vehicle-motor-market-industry-analysis
Electric Vehicle Motor Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our electric vehicle motor market report covers the following areas:
This study identifies the development of EVs charging infrastructure as one of the prime reasons driving the Electric Vehicle Motor Market growth during the next few years.
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Electric Vehicle Motor Market 2020-2024: Key Highlights
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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