Germany Electric Vehicle Motor Market Size, Share & Trends Analysis Report by Motor Type (DC Motor and AC Motor), By Propulsion Technology (Battery Electric Vehicle (BEV) and Plug-in Hybrid Electric Vehicle (PHEV)), By Vehicle Type (Passenger Cars, Commercial Vehicle, and Others) and Forecast 2019-2025
Germany electric vehicle motor market is anticipated to grow at a CAGR of more than 20% during the forecast period, 2019-2025. The country is a major automotive manufacturer globally and was the largest EV market in Europe in 2019.
Moreover, various auto ancillary companies have their headquarters in the country including Continental AG, Robert Bosch GmbH, ZF TRW Automotive Holdings Corp., and Siemens AG among others. In the country, exponential growth in the electric car market was registered in 2019.
As per the European Automobile Manufacturers Association, a growth of 60% YoY is registered in the country in 2020.
Key companies contributing to the market include Continental AG, Hitachi Automotive Systems, Ltd., Nidec Corp., Parker-Hannifin Corp., Robert Bosch GmbH, Siemens AG, Tesla Inc., Valeo SA, WEG Industries, ZF TRW Automotive Holdings Corp. and others.
Around 109,000 electric cars were registered in the country as compared to 67,600 in 2019. It provides a significant opportunity for the EV manufacturer to construct a new EV plant in the country.
Due to Brexit, Germany is one of the major countries to cover the market of the whole European Union. For instance, Tesla Inc. announced to build a new Gigafactory in Berlin in November 2019.
As per the CEO of the company, Brexit was one of the major factors for choosing Germany over UK for the first European Gigafactory of the company.
Germany electric vehicle motor market is segmented based on the basis of motor type, propulsion technology, and vehicle type. On the basis of motor type, the market is further analyzed into AC motor and DC motor.
Most of the vehicles use AC induction motor or DC Permanent Magnet Synchronous Motor (PMSM). By propulsion technology, the market is segmented into battery-electric vehicles and plug-in hybrid electric vehicles.
During the forecast period, the battery-electric vehicle segment is expected to show significant growth in the country. By vehicle type, the market further analyzed into passenger cars, commercial vehicles, and others.
The passenger vehicle segment will have a major market share during the forecast period.
Germany Electric Vehicle Motor Market by Motor Type
- DC Motor
- AC Motor
Germany Electric Vehicle Motor Market by Propulsion Technology
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
Germany Electric Vehicle Motor Market by Vehicle Type
- Passenger Cars
- Commercial Vehicle
- Others (Two-Wheeler)
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