Electric Vehicle Drive Motor Sales Will Reach 3.7 Million Units by 2020, Forecasts Navigant Research

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Electric Vehicle Drive Motor Sales Will Reach 3.7 Million Units by 2020, Forecasts Navigant Research

BOULDER, Colo.--(BUSINESS WIRE)-- Electric motors and their controllers are an important but often secondary consideration in the cost premium of electric vehicles (EVs). Today, new electric motor technologies are being developed by many automakers and their supplier partners in an effort to gain advantages in performance and efficiency, just as they have done for years with their internal combustion engines. According to a new report from Navigant Research, unit sales of electric drive motors will reach 3.7 million by 2020, growing from 1.5 million in 2013.

"The market for electric drive motors is set for steady rather than spectacular growth over the next few years," says David Alexander, senior research analyst with Navigant Research. "Only a breakthrough in the cost and performance of battery packs is likely to cause a significant increase in electric vehicle sales—but as volumes increase, there will be plenty of scope for cost reductions in motors and controllers, as well."


Many of the EVs on the road today are adapted from conventional vehicles that have been optimized for the internal combustion engine. Automakers put electric drivetrains into existing vehicle designs because they rely on conventional powertrains for the majority of sales and can reduce the time to market by using existing components and chassis. While this approach makes economic sense for automotive manufacturers with established production facilities, it does not make the best use of the potential of the electric drive, according to the report.

The report, "Electric Vehicle Drive Motors", provides a detailed examination of the growing market for electric motors and controllers, including profiles of the leading motor manufacturers and the original equipment manufacturers that make their own motors. Forecasts for revenues from motors and controllers segmented by motor power rating extend through 2020, and a summary of hybrid, plug-in hybrid, and battery electric vehicle model introductions by region is also provided. The report also includes a review of the main electric motor technologies suitable for electric drive. An Executive Summary of the report is available for free download on the Navigant Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.

* The information contained in this press release concerning the report, "Electric Vehicle Drive Motors," is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.



Navigant Research
Richard Martin, +1-303-493-5483
richard.martin@navigant.com
or
Laverne Murach, +1-202-481-7336
laverne.murach@navigant.com

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