Electric Vehicle Motor Controllers Market Size (2024 - 2030)

The Global Electric Vehicle Motor Controllers Market reached a valuation of USD 5.80 Billion and is anticipated to achieve USD 16.39 Billion by the conclusion of 2030. The market is forecasted to exhibit a Compound Annual Growth Rate (CAGR) of 16% during the projection period spanning from 2024 to 2030.

The electric vehicle motor controller represents an essential electronics package interfacing between the motor and batteries, regulating the speed and acceleration of electric vehicles akin to the function of a carburetor in conventional gasoline-powered vehicles. Its role involves managing energy flow from the battery, converting direct current into alternating current (specifically for AC motors). Unlike a carburetor, the EVM controller is also responsible for reversing the motor's rotation to facilitate backward movement of the vehicle. Additionally, it converts the motor into a generator during braking, utilizing kinetic energy to recharge the battery. Initial electric vehicles with DC motors utilized a basic variable-resistor-type motor controller to modulate vehicle speed and acceleration. These controllers constantly drew full power and current from the battery, with high resistance employed to decrease current at lower speeds where full power wasn't required, resulting in significant energy loss as heat in the resistor. Modern controllers utilize pulse width modulation to adjust speed and acceleration, employing devices like silicone-controlled rectifiers to swiftly control electricity flow to the motor. Short intervals of interruption result in high power (speed and/or acceleration), while longer intervals yield lower power and slower speeds. Most vehicle controllers also integrate regenerative braking systems, where the motor operates as a generator during deceleration, converting kinetic energy into battery charge. This not only extends the vehicle's range by 5 to 10 percent but also reduces brake wear and maintenance costs.

Global Electric Vehicle Motor Controllers Market Drivers:

The robust growth of the global electric vehicle motor controllers market is propelled by stringent emissions and fuel economy regulations.

In various nations, governments have enacted regulations mandating fuel efficiency, prompting the use of advanced controllers in electric vehicles to curb rising emissions. Major automotive manufacturers are increasingly adopting this technology to develop low-emission electric vehicles, catering to global demand. Consequently, the demand for electric vehicle motor controllers is significantly influenced by this trend.

Another factor bolstering the market is the increasing preference for AC permanent magnet synchronous motor controllers.

The AC permanent magnet synchronous motor controller is gaining favor due to its compact size, lightweight nature, wide speed range, high efficiency, excellent dynamic performance, and substantial overload capacity. These advantages contribute to the growing demand for electric vehicle motor controllers.

Global Electric Vehicle Motor Controllers Market Challenges:

The global electric vehicle motor controllers market encounters challenges primarily due to the high cost of electric vehicles and semiconductor chip shortages.

The costliness of electric vehicles is largely attributed to the extensive use of lithium-ion battery technology and additional supporting technologies. Furthermore, semiconductor chip shortages, stemming from disruptions in the supply chain and transportation, pose significant challenges. These chips play a crucial role in various functions of automobiles, particularly in electric vehicles, hindering market growth.

Global Electric Vehicle Motor Controllers Market Opportunities:

Lucrative opportunities lie in market expansion strategies within the global electric vehicle motor controllers market.

Given the rising demand for these controllers, driven by stringent emissions regulations and the popularity of AC permanent magnet synchronous motor controllers, major companies can capitalize on this trend by expanding their products into emerging markets. This strategy aims to broaden their customer base and enhance overall revenue.

COVID-19 Impact on the Global Electric Vehicle Motor Controllers Market:

The COVID-19 pandemic had a substantial impact on the global electric vehicle motor controllers market.

Strict lockdowns, travel restrictions, and social distancing measures hindered manufacturing capacities and resulted in a shortage of skilled labor. Supply chain disruptions further exacerbated the situation, affecting the production and distribution of electric vehicle motor controllers. Notably, the outbreak's origin in Wuhan, China, impacted sales in the Asia-Pacific region significantly. Despite these challenges, the market is poised to recover, driven by the increasing demand for fuel-efficient and high-performance vehicles.

Global Electric Vehicle Motor Controllers Market Recent Developments:

• In February 2024, Virtual Forest, an India-based motor control electronics manufacturer, and Redler Technologies, an Israel-based industry leader in motion control and power distribution solutions, secured a grant of INR 33 crore from the Global Innovation & Technology Alliance. The funding aims to develop ASIL-certified electric vehicle motor controllers for light three-wheelers in the global market.
• In November 2022, Uno Minda, a major auto component manufacturer, formed a joint venture with Buehler Motor, a Germany-based global supplier of customized drive solutions. Together, they will produce and market traction motors in India and other SAARC nations, focusing on electric two- and three-wheelers powered by batteries.
• In November 2022, Weber Drivetrain, an India-based EV technology startup, inaugurated its advanced automated manufacturing facility in Chakan MIDC, Pune, India. With an initial investment of Rs 35 crores in Phase 1 under the MAKE IN INDIA initiative for E-Mobility, the facility aims to bolster the future of electric vehicles.

Global Electric Vehicle Motor Controllers Market Segmentation: By Product Type

• AC Permanent Magnet Synchronous Motor Controller
• AC Asynchronous Motor Controller
• DC Motor Controller

The global electric vehicle motor controllers market is categorized into AC permanent magnet synchronous motor controllers, AC asynchronous motor controllers, and DC motor controllers based on product type. As of 2022, the AC permanent magnet synchronous motor controller segment exhibited the highest market share. This growth can be attributed to the increasing adoption of AC permanent magnet synchronous motor controllers, which offer advantages such as high efficiency and performance in motor drives. Features like smooth motor rotation across the entire speed range, complete torque control at zero speed, and rapid acceleration and deceleration characterize high-performance motor control systems.

The AC asynchronous motor controller segment is projected to experience the most rapid expansion over the forecast period due to its lower cost, uncomplicated design, and dependable performance.

Global Electric Vehicle Motor Controllers Market Segmentation: By Power Output

• 1-20 kW
• 21-40 kW
• 41-80 kW
• Above 80 kW

The global electric vehicle motor controllers market is segmented based on power output into 1-20 kW, 21-40 kW, 41-80 kW, and above 80 kW categories. In 2022, the above 80 kW segment captured the largest market share. This growth can be attributed to the increasing demand for high-performance electric vehicles, which necessitate higher power output for swift acceleration and speeds exceeding 100 mph.

The 41-80 kW segment is expected to grow at the fastest rate over the forecast period due to the escalating demand for mid-range electric vehicles that offer both performance and affordability.

Global Electric Vehicle Motor Controllers Market Segmentation: By Application

• Pure Electric Vehicle
• Full Hybrid Electric Vehicle
• Mild Hybrid Electric Vehicle
• Plug-in Hybrid Electric Vehicle

The global electric vehicle motor controllers market is divided into segments based on application, including pure electric vehicles, full hybrid electric vehicles, mild hybrid electric vehicles, and plug-in hybrid electric vehicles. As of 2022, the pure electric vehicle segment dominated the market share. This growth is attributed to the rising demand for pure electric vehicles in nations where stringent fuel regulations have been implemented due to increasing concerns about global warming and climate change. Additionally, various governments provide incentives to pure electric vehicle buyers, such as financial benefits, tax reductions, and regulatory advantages.

The plug-in hybrid electric vehicle segment is anticipated to grow at the fastest rate over the forecast period due to the increasing popularity of vehicles that utilize batteries to power an electric motor alongside gasoline for an internal combustion engine (ICE), offering advantages such as reduced fuel consumption and emissions.

Global Electric Vehicle Motor Controllers Market Segmentation: By Region

• North America
• Europe
• Asia-Pacific
• Rest of the World

As of 2022, the Asia-Pacific region held the largest market share in the global electric vehicle motor controllers market. This growth is driven by the rising demand for electric vehicles, the presence of advanced research and development facilities for EVM controllers, and substantial government support for electric vehicle adoption. Moreover, the region boasts several major market players, including Toyota Industries Corporation, Hitachi Automotive Systems, Shanghai E-drive Co. Ltd., Denso Corporation, and Chroma ATE Inc.

The European region is expected to exhibit the fastest growth rate over the forecast period due to the increasing adoption of electric vehicles and the presence of significant market players such as Siemens AG, Continental AG, and Robert Bosch AG.

Global Electric Vehicle Motor Controllers Market Key Players:

1. Toyota Industries Corporation (Japan)
2. Siemens AG (Germany)
3. Continental AG (Germany)
4. Robert Bosch GmbH (Germany)
5. American Motors Corporation (United States)
6. Hitachi Automotive Systems (Japan)
7. Shanghai E-drive Co. Ltd. (China)
8. Denso Corporation (Japan)
9. Chroma ATE Inc. (Taiwan)
10. Fuji Electric Co. Ltd. (Japan)