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Hybrid and Electric Vehicles to Rev European Electric Motors Market, Says Frost & Sullivan

Traction Motor Market to Register Sales in Excess of 2.6 million units in Europe by 2017


News provided by

Frost & Sullivan

May 21, 2012, 04:54 ET

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LONDON, May 21, 2012 /PRNewswire/ -- Electrification in vehicles is a key trend in the automotive industry. The increase in electric components within vehicles is boosting the market for traction motors.

Frost & Sullivan anticipates the European traction motor market to grow at a compound annual growth rate (CAGR) of 50 per cent for hybrid electric vehicles (HEVs) and electric vehicles (EVs). Permanent magnet motors are expected to dominate the market by virtue of their performance and efficiency. However, the growing concern over the availability and pricing of rare earth metals will open up the market for other motor technologies such as induction and hybrid motors.

New analysis from Frost & Sullivan (http://www.automotive.frost.com), Strategic Analysis of Electric Motor Technologies for Electric and Hybrid Vehicles in Europe, finds that the market earned revenues of Euro 55 million in 2010 and estimates this to reach $1.6 billion in 2017 with emission norms and government support driving vehicle manufacturers (VMs) towards greater adoption of hybrid and electric vehicles.

The sourcing strategies for electric motors are expected to vary among VMs. Frost & Sullivan analysis finds that about 30-40 per cent of VMs outsourcing motors from suppliers are planning to bring the intelligence in-house as of now.

"While some VMs are working with more than one supplier on the development of electric motors, others are choosing to develop it in-house," notes Frost & Sullivan Team Leader Anjan Hemanth Kumar. "Reliability, strong R&D, a smooth supply chain and tight quality control coupled with state-of-the-art manufacturing procedures and facilities are some of the key sourcing criteria for VMs."

Car makers in Europe are required to bring down their fleet's average CO2 emissions in accordance with the limit-value curve from 2012. Also, most EU-15 states offer a discount for EVs on the first registration tax applicable on vehicle acquisition. Against the backdrop of these drivers, all OEMs have adopted unique strategies to reduce CO2 emissions, with powertrain electrification taking precedence over other technologies.

However, hybrids and EVs tend to command high retail prices, which require VMs to bridge the cost gap between hybrids and their conventional equivalents. For VMs, EV technologies such as traction electric motors and advanced batteries are not part of a strong in-house portfolio. They remain wary of moving away from internal combustion engines, which represent a century-old technology with strong infrastructure.

Several opportunities exist for motor manufacturers down the EV powertrain. VMs in the short-term are looking to contract specialist EV system developers that can integrate the systems into the vehicle. In the medium- to long-term, the preference would be for Tier 1 suppliers with strong intra-organisational support. OEMs that would look to develop in-house electric motor capabilities are likely to retain the design and intelligence but source the modules and components.

"Electric motors represent an advanced technology that will prove critical to the success of greener vehicles," concludes Kumar. "They will undoubtedly open doors of opportunity down the supply chain."

If you are interested in more information on Frost & Sullivan's study Strategic Analysis of Electric Motor Technologies for Electric and Hybrid Vehicles in Europe, please send an e-mail with your contact details to Katja Feick, Corporate Communications, at [email protected].

Strategic Analysis of Electric Motor Technologies for Electric and Hybrid Vehicles in Europe is part of the Automotive & Transportation Growth Partnership Service programme, which also includes research in the following markets: 360 Degree Analysis of Electric Vehicle Market in Turkey, Strategic Analysis of the European Microcars Market and Strategic Technology and Market Analysis of Electric Vehicle Charging Infrastructure in Europe. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. 

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.  
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible.  This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.  

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?  

Contact Us:     Start the discussion
Join Us:           Join our community
Subscribe:       Newsletter on "the next big thing" 
Register:        Gain access to visionary innovation

Report Title: Strategic Analysis of Electric Motor Technologies for Electric and Hybrid Vehicles in Europe (M5EF-18)

Contact:
Katja Feick
Corporate Communications – Europe
P: +49 (0) 69 7703343
E: [email protected]
http://www.frost.com

SOURCE Frost & Sullivan

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