US electric vehicle motor market is anticipated to grow at a CAGR of more than 17% during the forecast period, 2019-2025. In the country, a downfall in EV sales was registered in 2019, due to the high cost of EV and stable fossil fuel prices. Around 325,000 EVs were sold in the US in 2019 which is around 2% of the total vehicle sales in the country. However, the presence of major market players in the country is one of the major motivators for market growth as they are constructing new EV manufacturing units. Tesla Inc. is one of the major players of EVs globally and whose sales are increasing continuously. The first European plant of Tesla started construction in November 2019, and to date, the vehicle supply will be maintained from Chinese and US plants mainly. Moreover, significant investments are witnessed in the country from the automaker in electric vehicle manufacturing which will create the demand for electric vehicle motors in the country. For instance, in January 2020, General Motors announced to invest $2.2 billion in constructing a new electric vehicle plant in Detroit. In addition, Volkswagen AG announced to invest an additional $800 million in the Chattanooga plant for EV manufacturing. These types of investments are expected to provide significant growth to the electric vehicle motor market in the country. 

US electric vehicle motor market is segmented on the basis of motor type, propulsion technology, and vehicle type. On the basis of motor type market is further analyzed into AC motor and DC motor. By propulsion technology, the market is further divided into battery electric vehicles and plug-in hybrid electric vehicles. During the forecast period, the battery-electric vehicle segment is expected to show significant market growth in the country. By vehicle type, the market further analyzed into passenger cars, commercial vehicles, and others. The passenger vehicle segment will have a major market share during the forecast period. 

Some of the major companies contributing to the market include ABB Ltd., Tesla Inc., BorgWarner Inc., Continental AG, Nidec Corp., Parker-Hannifin Corp., Protean Electric, Robert Bosch GmbH, Siemens AG, Valeo SA, WEG Industries, and others. The market players are considerably contributing to the market growth by adopting various growth strategies including new product launch, merger and acquisition, collaborations with government, and technological advancements to stay competitive in the market.

Research Methodology

The market study is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts to brings authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. US Electric Vehicle Motor Market Research and Analysis by Motor Type
2. US Electric Vehicle Motor Market Research and Analysis by Propulsion Technology
3. US Electric Vehicle Motor Market Research and Analysis by Vehicle Type

The Report Covers

• Comprehensive research methodology of the US Electric Vehicle Motor Market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the US Electric Vehicle Motor Market.
• Insights about market determinants which are stimulating the US Electric Vehicle Motor Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.