Electric Drive Motor Industry to Grow From $965 Million in 2013 to $2.8 Billion in 2020

4 years ago by Eric Loveday 6

Electric Motor From the Now-Dead Audi R8 e-tron

Electric Motor From the Now-Dead Audi R8 e-tron

Electric motors are, of course, essential to the operation of electric vehicles.

With that in mind, Navigant Research set out to determine just how grand worldwide sales of electric drive motors will be in 2020.

Spark EV Electric Motor

Spark EV Electric Motor

But first, some data from 2013 is in order.  According to Navigant, worldwide sales of electric drive motors will bring in some $965 million in 2013.  That figure may seem substantial, but it’s nothing compared to Navigant’s 2020 prediction.

As Navigant says:

“Electric motors have an increasingly important role to play in the modern automobile. As automakers offer more electric vehicles – both battery-powered vehicles and electric/internal combustion hybrids – the number of electric motors in use is rapidly expanding.”

That expansion will lead to worldwide sales of $2.8 billion by 2020.

David Alexander, senior research analyst with Navigant Research, states:

“While sales of battery electric vehicles are increasing, the growth is slow and steady rather than exponential. That will lead to a similar growth curve in the electric vehicle motor market, which is expected to expand at a compound annual growth rate of 16.6 percent over the next 7 years.”

Navigant further notes in its report, titled “Electric Vehicle Drive Motors,” that nearly all automakers have elected to in-house production of electric motors, though there are some motor manufacturers that provide OEMs with products.

Tags: , , ,

6 responses to "Electric Drive Motor Industry to Grow From $965 Million in 2013 to $2.8 Billion in 2020"

  1. Mark H says:

    You have to wonder how scientific some of these studies are. Interestingly enough, 16.6% over the next seven years equates to the first million sold.
    That’s the number spin for a slow eveining, where is kdawg now to graph it!

    2011 $17,000
    2012 $53,000
    2013 $85,000
    2014 $99,110
    2015 $115,562
    2016 $134,746
    2017 $157,113
    2018 $183,194
    2019 $213,604

    Total $1,058,329

    1. Mark H says:

      Input $80,000 for 2013 to land on 1 milion.

      1. kdawg says:

        It’s easy to graph historical data. Not so easy with crystal ball data. I’m curious as to what they are considering “electric drive motors”. Is this only motors used in autos? We use thousands of dollars worth of electric motors at my workplace and we are just one OEM.

  2. Dan Frederiksen says:

    That billion sounds a little high unless it includes the power electronics as well and even then.
    If a million cars are sold with electric motors per year that’s 1000$ per unit. An electric motor is just not that expensive. More like 200$

    And I also expect it will way more than triple in volume over the next 7 years.
    Suddenly electric drive will be used in a couple of mainstream cars and then it will really take off.
    As retarded and sluggish the automakers are, a lot will happen in 7 years. Just look at the last 7.

  3. Roy_H says:

    Not sure where you are getting that $200 figure from. See: http://insideevs.com/brusa-announces-pricing-for-its-complete-electric-drivetrain-packages/
    “For vehicles that needs about 100 kW of maximum power – Brusa offers sets one and two that cost €22,500 ($29,475 US) and €24,500 ($32,083 US). They too consist of a motor, inverter, controller, on-board charger and DC/DC converter.”

    I think that motor, controller, and charger, would be roughly equal cost parts with the charger being the lowest cost.

    1. Dan Frederiksen says:

      Brusa are morons. And I can’t say much flattering about your reasoning either if you think a 28k$ Leaf has a 30k$ drivetrain in it.

      I base the price on prices on industrial AC induction motors. They cost around 150$ in car size. Similar to the one in a Tesla Roadster.