Electric Vehicle Drive Motor Revenue Will Surpass $2.8 Billion Annually by 2020, Forecasts Navigant Research

  Electric Vehicle Drive Motor Revenue Will Surpass $2.8 Billion Annually by
  2020, Forecasts Navigant Research

Business Wire

BOULDER, Colo. -- June 28, 2013

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. According to a recent report from Navigant
Research, worldwide sales of electric drive motors will grow from $965 million
in 2013 to more than $2.8 billion by 2020.

“While sales of battery electric vehicles are increasing, the growth is slow
and steady rather than exponential,” says David Alexander, senior research
analyst with Navigant Research. “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.”

Since General Motors introduced the EV1 in the mid-1990s, automakers have
favored alternating current (AC) motors. Existing motors for other industrial
applications have so far not met the exacting standards of automotive
production, according to the report. Although numerous new companies have
sprung up to develop interesting AC motor alternatives that could disrupt the
industry in the future, almost all of the automakers have chosen to produce
their own motors, relying on permanent magnet or AC induction designs.

The report, “Electric Vehicle Drive Motors”, provides a detailed examination
of the growing market for electric motors and controllers, including profiles
of the leading motor manufacturers and the original equipment manufacturers
that make their own motors. Forecasts for revenues from motors and controllers
segmented by motor power rating extend through 2020, and a summary of hybrid,
plug-in hybrid, and battery electric vehicle model introductions by region is
also provided. The report also includes a review of the main electric motor
technologies suitable for electric drive. An Executive Summary of the report
is available for free download on the Navigant Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides market
research and benchmarking services for rapidly changing and often highly
regulated industries. In the energy sector, Navigant Research focuses on
in-depth analysis and reporting about global clean technology markets. The
team’s research methodology combines supply-side industry analysis, end-user
primary research and demand assessment, and deep examination of technology
trends to provide a comprehensive view of the Smart Energy, Smart Utilities,
Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional
information about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant (NYSE: NCI) is a specialized, global expert services firm dedicated
to assisting clients in creating and protecting value in the face of critical
business risks and opportunities. Through senior level engagement with
clients, Navigant professionals combine technical expertise in Disputes and
Investigations, Economics, Financial Advisory and Management Consulting, with
business pragmatism in the highly regulated Construction, Energy, Financial
Services and Healthcare industries to support clients in addressing their most
critical business needs. More information about Navigant can be found at
www.navigant.com.

* The information contained in this press release concerning the report,
“Electric Vehicle Drive Motors,” is a summary and reflects Navigant Research’s
current expectations based on market data and trend analysis. Market
predictions and expectations are inherently uncertain and actual results may
differ materially from those contained in this press release or the report.
Please refer to the full report for a complete understanding of the
assumptions underlying the report’s conclusions and the methodologies used to
create the report. Neither Navigant Research nor Navigant undertakes any
obligation to update any of the information contained in this press release or
the report.

Contact:

Navigant Research
Richard Martin, +1-303-493-5483
richard.martin@navigant.com
or
Laverne Murach, +1-202-481-7336
laverne.murach@navigant.com
 
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