Market Overview:
Electric Motors and Inverters for Off-Highway EVs Market is expected to grow at a CAGR of XX% and reach a market value of USD XX million by 2030. The growth in the market can be attributed to the increasing demand for electric vehicles across different applications such as material handling, aerial work platforms, construction, mining, and agriculture. The electric motors segment is expected to hold the largest share in the global Electric Motors and Inverters for Off-Highway EVs Market by 2030. This can be attributed to the growing demand from various end-use industries such as material handling, aerial work platforms, construction equipment, mining equipment, and agricultural equipment. Asia Pacific is projected to be the fastest growing region during the forecast period owing to rising investments in electric vehicles across different countries in this region.
Product Definition:
Electric Motors are used to power electric vehicles by converting electrical energy into mechanical energy. Electric Motor Inverters are used to convert direct current (DC) from the batteries of electric vehicles into alternating current (AC) for the electric motors. This is important because it allows for more efficient use of battery power and a higher driving range for electric vehicles.
Electric Motors:
Electric motors are used in various industries such as automotive, construction equipment, material handling equipment and others. The growing demand for electric vehicles (EVs) is expected to drive the growth of the global electric motors market over the forecast period. EVs use DC type of electric motor which has high torque density and low speed variation.
Inverters:
Inverters are electronic devices that alter the original sinewave and produce a modified waveform with increased power. The device is used in electric motors, which convert electrical energy into mechanical energy using the spinning rotor. Inverter’s primary function is to change an unidirectional current flow of a battery-powered vehicle to make it bidirectional by creating alternate voltage from low voltage (12V) and high voltage (24V).
Application Insights:
The material handling application segment led the global electric motors and inverters for off-highway EVs market in 2017. The segment is projected to expand at a CAGR of XX% over the forecast period owing to rising demand from industrial applications, such as material transport, palletizing, packaging and unloading of trucks or containers.
Construction is one of the major applications driving demand for electric motors and inverters across off-highway EVs globally. Electric motor drives provide faster acceleration, better maneuverability in tight spaces and reduced overall weight compared to diesel engines when used on construction sites or on-site construction equipment manufacturing facilities. In addition, increasing environmental regulations pertaining to construction activities are expected to increase product adoption across various industries globally over the coming years.
Regional Analysis:
Asia Pacific dominated the global market in 2017. China is the largest consumer of electric motors and inverters in this region owing to heavy investments made by Chinese manufacturers for developing advanced technologies for off-highway EVs. The country has also been a hub for manufacturing electric motor and inverter systems, which has led to high demand across Asia Pacific over the past few years.
North America accounted for a significant share of revenue in 2017 owing to growing demand from U.S., Canada, and Mexico on account of increasing construction activities along with stringent government regulations regarding carbon emissions from internal combustion engines (ICEs). Moreover, presence of major players such as Siemens AG; Johnson Controls Inc.; General Electric; Alstom; Cummins Inc.; Caterpillar Inc.; Emerson Electric Co.; Johnson Controls LLC; Toshiba Corporation; ABB Ltd., among others will fuel growth over next eight years.
Europe was valued at USD X million in 2017.
Growth Factors:
- Increasing demand for electric vehicles from the commercial and industrial sectors
- Stringent emission norms by regulatory authorities across the globe
- Growing popularity of off-highway electric vehicles among end-users
- Proliferation of advanced technologies in electric motors and inverters for off-highway EVs market
- Rising investments in R&D activities by leading players to develop innovative products
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Motors and Inverters for Off-Highway EVs Market Research Report
By Type
Electric Motors, Inverters
By Application
Material Handling, Aerial Work Platform, Constructions, Mining, Agriculture
By Companies
Equipmake, Dana, BorgWarner, Integral Powertrain, Bosch Rexroth, ZF, Magelec, Ashwoods (belong to Dana in 2020), SIEMENS
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global Electric Motors and Inverters for Off-Highway EVs Market Report Segments:
The global Electric Motors and Inverters for Off-Highway EVs market is segmented on the basis of:
Types
Electric Motors, Inverters
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Material Handling, Aerial Work Platform, Constructions, Mining, Agriculture
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Equipmake
- Dana
- BorgWarner
- Integral Powertrain
- Bosch Rexroth
- ZF
- Magelec
- Ashwoods (belong to Dana in 2020)
- SIEMENS
Highlights of The Electric Motors and Inverters for Off-Highway EVs Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Electric Motors
- Inverters
- By Application:
- Material Handling
- Aerial Work Platform
- Constructions
- Mining
- Agriculture
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electric Motors and Inverters for Off-Highway EVs Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Electric motors and inverters are used in off-highway electric vehicles to convert the electrical energy from a battery into rotational motion that powers the vehicle.
Some of the major companies in the electric motors and inverters for off-highway evs market are Equipmake, Dana, BorgWarner, Integral Powertrain, Bosch Rexroth, ZF, Magelec, Ashwoods (belong to Dana in 2020), SIEMENS.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Electric Motors and Inverters for Off-Highway EVs Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Electric Motors and Inverters for Off-Highway EVs Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Electric Motors and Inverters for Off-Highway EVs Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Electric Motors and Inverters for Off-Highway EVs Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Electric Motors and Inverters for Off-Highway EVs Market Size & Forecast, 2020-2028 4.5.1 Electric Motors and Inverters for Off-Highway EVs Market Size and Y-o-Y Growth 4.5.2 Electric Motors and Inverters for Off-Highway EVs Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Electric Motors
5.2.2 Inverters
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Material Handling
6.2.2 Aerial Work Platform
6.2.3 Constructions
6.2.4 Mining
6.2.5 Agriculture
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Electric Motors and Inverters for Off-Highway EVs Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Electric Motors and Inverters for Off-Highway EVs Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Electric Motors
9.6.2 Inverters
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Material Handling
9.10.2 Aerial Work Platform
9.10.3 Constructions
9.10.4 Mining
9.10.5 Agriculture
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Electric Motors
10.6.2 Inverters
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Material Handling
10.10.2 Aerial Work Platform
10.10.3 Constructions
10.10.4 Mining
10.10.5 Agriculture
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Electric Motors
11.6.2 Inverters
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Material Handling
11.10.2 Aerial Work Platform
11.10.3 Constructions
11.10.4 Mining
11.10.5 Agriculture
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Electric Motors
12.6.2 Inverters
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Material Handling
12.10.2 Aerial Work Platform
12.10.3 Constructions
12.10.4 Mining
12.10.5 Agriculture
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Electric Motors
13.6.2 Inverters
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Material Handling
13.10.2 Aerial Work Platform
13.10.3 Constructions
13.10.4 Mining
13.10.5 Agriculture
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Electric Motors and Inverters for Off-Highway EVs Market: Competitive Dashboard
14.2 Global Electric Motors and Inverters for Off-Highway EVs Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Equipmake
14.3.2 Dana
14.3.3 BorgWarner
14.3.4 Integral Powertrain
14.3.5 Bosch Rexroth
14.3.6 ZF
14.3.7 Magelec
14.3.8 Ashwoods (belong to Dana in 2020)
14.3.9 SIEMENS