Ward’s Auto: Electric Motor Production to Double by 2020
Recently, Ward’s Automotive took a predictive look into the future production of various sizes of engines.
What Ward’s found is somewhat surprising.
For example, Ward’s predicts that “half the light vehicles built globally in 2014 will have engines with displacements from 1.0L to 1.9L, compared with 49% in 2013.” Okay, so that’s only a slight uptick overall, but it seems quite the feat when you look at the BIG picture, which basically says that come next year, the majority of global light vehicles will have engine with 1.9 liters of displacement or less. Oh, and that 1% or so increase still translate into an annual production increase of like 15 million 1.0- to 1.9-liter engine by 2020.
Ward’s further predicts that BIG engines will continue to lose popularity as the years pass on by. In fact, if you look at the graph above, only two categories improve from now through 2020: 1.0- to 1.9-liter engine and electric motors.
Though the graph doesn’t represent it well, Ward’s says production of electric motors will double between 2013 and 2020. Electric motors are predicted to control 6% of the market by 2020.
That 6% figure is tricky to work with though, especially when one considers that hybrids (both conventional and plug-in) feature both an engine and an electric motor. If electric motors were only used in BEVs, then that 6% figure could be utilized to a greater degree in predicting plug-in penetration. Let’s just be happy that production of electric motors are predicted to double over the next 7 years.
Source: Ward’s Auto