Market Overview:
The Global EV Motor Controller Market size is expected to grow from USD 7730.9 million in 2022 to USD 133676.70 million by 2030, at a CAGR of 42.8% during the forecast period (2023-2030).
The motor, power supply, controller, drive train, and charger are the main components of an electric vehicle system. In an electric car or an EVM controller by altering the energy flow from the power sources to the motor, a motor controller is used to manage the torque produced by the motors of electric cars. A motor controller is a tool that enhances an electric motor's performance in a planned manner. The requirement for more effective and intelligent motor control becomes increasingly pressing as the market for hybrid electric vehicles (HEV) and electric cars (EV) starts to expand.
Top Key Players for EV Motor Controller Market:
Shenzhen Inovance Technology Co., Ltd., Jing-Jin Electric Technologies (Beijing) Co., Ltd., Nidec (Beijing) Drive Technologies Co., Ltd., Beijing Siemens Automotive E-Drive System Co., Ltd., Canadian Electric Vehicles Ltd, Prestolite E-Propulsion Systems (Beijing) Limited, Profile, Shandong Deyang Electronics Technology Co., Ltd., JEE Automation Equipment Co., Ltd., DEC Dongfeng Electric Machinery Co., Ltd., Time High-Tech Co., Ltd., Fujian Fugong Power Technology Co., Ltd., Hunan CRRC Times Electric Vehicle Co., Ltd., Kelly Controls, LLC, Shanghai E-drive Co., Ltd., Chroma ATE Inc., United Automotive Electronic Systems Co., Ltd. (UAES), Shenzhen V&T Technologies Co., Ltd., BYD, Parker, Delta Electronics, Zhuhai Enpower Electric Co., Ltd., Zhongshan Broad-Ocean Motor Co., Ltd. and Other Major Players.
Market Dynamics and Factors for EV Motor Controller Market:
Drivers:
Demand for Highly Efficient Motor Controller Boost the Market Growth
The growth of the Electric Vehicle (EV) Motor Controller market is being prominently driven by the escalating demand for highly efficient motor controllers. As the automotive industry undergoes a transformative shift towards electric mobility, the role of motor controllers becomes increasingly crucial. These controllers are at the heart of an EV's propulsion system, governing power delivery, energy efficiency, and overall performance. The push for enhanced energy efficiency and extended driving range necessitates the development of motor controllers that can effectively manage power distribution, optimize energy usage, and minimize losses. Manufacturers and consumers alike are seeking motor controllers that can seamlessly regulate the flow of electricity, ensure smooth acceleration and deceleration, and effectively recuperate energy during braking and coasting.
Opportunities:
High Growth Opportunity for Asian Manufacturers
The realm of EV Motor Controllers presents a compelling growth opportunity for Asian manufacturers. As the global automotive landscape undergoes a transformative shift towards electrification, Asia stands as a pivotal hub for electric vehicle (EV) production and innovation. With established expertise in electronics, manufacturing capabilities, and a burgeoning EV market, Asian manufacturers are uniquely poised to capitalize on the burgeoning demand for efficient and high-performance EV motor controllers. Asian manufacturers can leverage their existing infrastructure and supply chains to efficiently produce and distribute EV motor controllers on a large scale.
Segmentation Analysis of the EV Motor Controller Market:
By Type, the AC permanent magnet synchronous motor controller accounted for a major share of the global electric vehicle motor (EVM) controller market. Permanent magnet synchronous motor controllers are typically used for high-performance and high-efficiency motor drives. High-performance motor control is characterized by smooth rotation over the entire speed range of the motor, full torque control at zero speed, and fast acceleration and deceleration.
Regional Analysis of the EV Motor Controller Market:
Asia Pacific accounted for a major share of the global electric vehicle motor (EVM) controller market. Asia Pacific has major presence of developed countries that are home to advanced research and development facilities for electric vehicle motor (EVM) controller. China dominates the electric vehicle motor (EVM) controller market in Asia Pacific. China is a major automotive hub across the globe. High production rates and sales of hybrid vehicles in Japan and electric vehicles in China primarily propel the market in the region. Initiatives from governments of various countries in the region are also likely to augment the market. The market is also driven by increasing sales of passenger cars in countries such as China, Japan, India, and South Korea.
Key Industry Development:
August 2021, the leading provider of automotive semiconductors in the world, NXP Semiconductors N.V., has unveiled a new automotive power control reference platform for an electric car traction motor inverter. One of NXP's new power control reference platforms for electric vehicles is featured in the ASIL-D motor inverter prototype, which was created in collaboration with VEPCO Technologies, Inc.
