"Electric Vehicle Motors": Revolutionizing the Future of Transportation

 The global electric vehicle motor market is anticipated to show a strong growth rate due to stricter government regulation set by regulatory bodies on the automobile industry. Regulatory bodies around the world have implemented strengthened regulations and laws related to emission from traditional ICE vehicle, and promote green mobility in the automobile industry. As the emission from automobiles are becoming challenging and increasingly common governments across the world have implemented strict laws and regulation to cut down on vehicle emission.

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For example, In Europe the region introduced European Emission Standards or Euro Norms, which governs and looks after emission from vehicles. The law also encourages people to use green mobility technologies in order to cut down on harmful vehicle emissions. Likewise, other countries have also introduced regulation which limits and looks after vehicle emission standards. 

Top Key Players - 

ABB, TOSHIBA CORPORATION, Mitsubishi Electric Corporation, Hitachi, Ltd., AISIN CORPORATION, Continental AG, BorgWarner Inc., Robert Bosch GmbH, Magna International Inc., NIDEC CORPORATION

Furthermore, the market is very competitive with a few big manufactures dominating the overall global market share To maintain their market positions, top companies operating in the market are prioritizing on innovation, product uniqueness, and collaboration with other industry players.

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KEY FINDINGS OF THE STUDY

  • By type, the AC motor segment is anticipated to exhibit significant growth in the electric vehicle motor market in the near future.
  • By electric vehicle type, the hybrid vehicles segment is anticipated to exhibit significant growth in the market in the near future.
  • By application, the passenger cars segment is anticipated to exhibit significant growth in the market in the near future.
  • By Region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.


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