Electric Vehicle Motor Controllers Market Size (2023 - 2030)

The Global Electric Vehicle Motor Controllers Market was valued at USD 5.80 Billion and is projected to reach a market size of USD 16.39 Billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 16%.

The electric vehicle motor controller is the electronics package, which functions between the motor and the batteries to regulate the electric vehicle's speed and acceleration similar to how a carburetor does in a gasoline-powered vehicle. The controller regulates the energy flow from the battery and converts the direct current from the battery into alternating current (only for AC motors). In contrast to the carburetor, the EVM controller will also reverse the motor's rotation so that the vehicle can move in the opposite direction. It will also transform the motor into a generator so that the kinetic energy of motion can be used to charge the battery when the brake is applied. A basic variable-resistor-type motor controller was utilized in initial EVs with DC motors to regulate the speed and acceleration of the vehicle. A controller of this kind always used the battery's full power and current. High resistance was used to lower the motor's current at slow speeds when it was not necessary to use all of the power. With this kind of system, an enormous level of energy from the battery was squandered as an energy loss in the resistor. Only at high speeds was all of the available power utilized. An electronic process known as pulse width modulation is used in modern controllers to adjust acceleration and speed. Silicone-controlled rectifiers and other switching devices quickly interrupt the electricity flow to the motor. When the intervals (when the current is turned off) are short, high power (high speed and/or acceleration) is achieved. When the intervals are longer, they result in low power as well as low speed and/or acceleration. The majority of vehicle controllers also include a regenerative braking system. When the vehicle is slowed down, the process known as regenerative braking uses the motor as a generator to charge the batteries. The motor or controller converts some of the kinetic energy normally absorbed by the brakes into heat and uses it to recharge the batteries during regenerative braking. Not only does regenerative braking extend the range of an electric vehicle by 5 to 10 percent, but it also reduces brake wear and lowers the cost of maintenance.

Global Electric Vehicle Motor Controllers Market Drivers:

The stringent emission and fuel economy regulations are fueling the growth of the global electric vehicle motor controllers market.

High-level controllers are utilized in electric vehicles to enhance their efficiency. In developing nations, numerous regulations have been implemented by governments regarding fuel efficiency. In several nations, the use of high-level controllers has been encouraged owing to the rising vehicle emissions. The market for electric vehicle motor controllers is highly driven by this factor. The increasing efforts by top companies to reduce emissions are more likely to support market growth. To attract customers worldwide, automobile manufacturers are adopting this technology to manufacture low-emissive electric vehicles. Therefore, this factor drives the demand for electric vehicle motor controllers.

The growing popularity of AC permanent magnet synchronous motor controllers is another factor contributing to the growth of the global electric vehicle motor controllers market.

The AC permanent magnet synchronous motor controller is growing in popularity due to its advantages, such as compact size and lightweight, wide speed range, high efficiency, high acceleration obtainability, great dynamic performance, and large overload capacity. Therefore, this factor also drives the demand for electric vehicle motor controllers.

Global Electric Vehicle Motor Controllers Market Challenges:

The global electric vehicle motor controllers market is encountering challenges, primarily in terms of the high cost of electric vehicles and the shortage of semiconductor chips. Electric vehicles are high in cost mainly due to the large use of lithium-ion battery technology in running the vehicle as well as supporting additional technologies. Moreover, many manufacturing facilities are facing a shortage of semiconductor chips as a result of disruptions in the supply chain and transportation. Semiconductor chips support a variety of functions in automobiles, especially in electric vehicles. Thus, these challenges inhibit the growth of the global electric vehicle motor controllers market.

Global Electric Vehicle Motor Controllers Market Opportunities:

Market expansion strategies present lucrative opportunities in the global electric vehicle motor controllers market. Given the rising demand for electric vehicle motor controllers due to the stringent emission and fuel economy regulations and the growing popularity of AC permanent magnet synchronous motor controllers because of their advantages, including compact size, high efficiency, high performance, etc., major electric vehicle motor controller companies can stand to gain significantly from this opportunity by expanding their products to emerging markets, in order to broaden their customer base and boost their overall revenue.

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

The outbreak of the COVID-19 pandemic substantially impacted the global electric vehicle motor controllers market. The implementation of strict lockdowns, traveling restrictions, and social distancing measures across several nations hindered many companies' manufacturing capacities and caused a shortage of skilled workforce. The pandemic caused disruptions in supply chains and distribution of goods and services, which highly affected the production and distribution of electric vehicle motor controllers. Moreover, one of China's significant automotive manufacturing facilities is in Wuhan where the COVID-19 outbreak began, which highly affected the sales of electric vehicles and their components in the Asia-Pacific region. These factors negatively impacted the growth of the global electric vehicle motor controllers market. Despite these challenges, the global electric vehicle motor controllers market is projected to recover and grow in the coming years, owing to the increasing demand for fuel-efficient and high-performance vehicles.

Global Electric Vehicle Motor Controllers Market Recent Developments:

• In February 2023, Virtual Forest, an India-based motor control electronics manufacturing, and Redler Technologies, an Israel-based industry leader in motion control and power distribution solutions, received INR 33 crore grant from the Global Innovation & Technology Alliance to develop ASIL-certified electric vehicle motor controllers for light three-wheelers for the global market. 
• In November 2022, Uno Minda, an auto component major, formed a joint venture with Buehler Motor, a Germany-based global supplier of customized drive solutions. Together, they will create, produce, and market traction motors in India and other SAARC nations. The joint venture will provide traction motors for electric two- and three-wheelers powered by batteries.
• In November 2022, Weber Drivetrain, an India-based EV technology startup, unveiled the official launch of its advanced automated manufacturing facility in Chakan MIDC, Pune, India, with the investment of Rs 35 crores in Phase 1 for the foundation of the manufacturing unit under the MAKE IN INDIA initiative for the future of E-Mobility.

ELECTRIC VEHICLE MOTOR CONTROLLERS MARKET REPORT COVERAGE:

Global Electric Vehicle Motor Controllers Market Segmentation: By Product Type

• AC Permanent Magnet Synchronous Motor Controller

• AC Asynchronous Motor Controller

• DC Motor Controller

Based on the product type, the global electric vehicle motor controllers market is segmented into AC permanent magnet synchronous motor controllers, AC asynchronous motor controllers, and DC motor controllers. In 2022, the AC permanent magnet synchronous motor controller segment held the highest market share. The growth can be attributed to the rising adoption of AC permanent magnet synchronous motor controllers due to the advantages these motor controllers offer over other motor controllers, including high-efficiency and high-performance motor drives. Smooth motor rotation over the entire speed range, full torque control at zero speed, and rapid acceleration and deceleration are all characteristics of high-performance motor control.

Due to the lower cost, straightforward design, and reliable performance, the AC asynchronous motor controller segment is anticipated to expand at the fastest rate over the outlook period.

Global Electric Vehicle Motor Controllers Market Segmentation: By Power Output

• 1-20 kW

• 21-40 kW

• 41-80 kW

• Above 80 kW

Based on the power output, the global electric vehicle motor controllers market is segmented into 1-20 kW, 21-40 kW, 41-80 kW, and above 80 kW. In 2022, the above 80 kW segment held the highest market share. The growth can be attributed to the growing demand for high-performance electric vehicles, which require the highest power output in order to deliver quick acceleration and reach speeds above 100 mph.

Due to the growing demand for mid-priced electric vehicles that offer performance as well as affordability, the 41 - 80 kW segment is anticipated to expand at the quickest rate over the forecast period.

Global Electric Vehicle Motor Controllers Market Segmentation: By Application

• Pure Electric Vehicle 

• Full Hybrid Electric Vehicle

• Mile Hybrid Electric Vehicle

• Plug-in Hybrid Electric Vehicle

Based on the application, the global electric vehicle motor controllers market is segmented into pure electric vehicles, full hybrid electric vehicles, mile hybrid electric vehicles, and plug-in hybrid electric vehicles. In 2022, the pure electric vehicle segment held the highest market share. The growth can be attributed to the increasing demand for pure electric vehicles in countries where the government introduced stringent fuel regulations due to the rising cases of global warming and climate change. In addition, several governments provide incentives to buyers of pure electric vehicles, including financial incentives, tax savings, and regulatory benefits. 

Due to the rising popularity of vehicles that utilize batteries to power an electric motor and gasoline to power an internal combustion engine (ICE) and offer benefits, including lower fuel consumption and reduced emissions, the plug-in hybrid electric vehicle segment is anticipated to expand at the quickest rate over the forecast period.

Global Electric Vehicle Motor Controllers Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• Rest of the World

In 2022, the region of Asia-Pacific held the largest share of the global electric vehicle motor controllers market. The growth can be attributed to the growing demand for electric vehicles, the presence of advanced research and development facilities for EVM controllers, and strong government support for the adoption of electric vehicles. In addition, the region is home to several significant market players, including Toyota Industries Corporation, Hitachi Automotive Systems, Shanghai E-drive Co. Ltd., Denso Corporation, and Chroma ATE Inc.

Due to the rising adoption of electric vehicles and the presence of significant market players, including Siemens AG, Continental AG, and Robert Bosch AG, the region of Europe is anticipated to grow at the fastest rate over the outlook period.

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)