Report shows EV market is now mainstream and will grow significantly


A new report from Navigant Research Transportation Electrification Drives Motor and Power Electronics Innovation, shows that electric vehicles are mainstream and market share is expected to grow significantly in the coming decades.

According to the report, numerous manufacturers announced plans in 2017 to offer at least 48 V mild-hybrid powertrains across all vehicles in their lineup. In many cases, manufacturers have reported they will make those offerings standard equipment.

All of these vehicles will require electric drive motors, generators, and power electronics for alternating current-direct current (AC-DC) conversion, as well as DC voltage conversion to support multiple vehicle subsystems, stimulating market growth.

Report summary:

  • Electrification of the automobile is now inevitable
  • The ICE vehicle has set expectations for the industry and society
  • The Market for conventionally powered vehicles is forecast to decline
  • Existing suppliers, both large and small, are ramping up to serve the growing market
  • JVs are being set up to build the foundations for new business
  • Motor manufacturers from other industries see potential in the automotive market
  • Automated driving both relies on and drives electrification
  • Packaged electric drive systems offer OEMs an easier path to electrification
  • The electric motor is still evolving
  • Power electronics development continues in parallel with motors
  • Integration is the priority for OEMs
  • Radical thinking will deliver market differentiation
  • Suppliers must focus on component efficiency
  • R&D investment will pay dividends

The report examines how vehicle electrification is driving investment in all aspects of electric motor technologies and control electronics.

The study analyses the historical, current, and future trends related to electrification solutions for vehicles and discusses the key components of an electric drive system.

It also provides detailed and actionable recommendations for industry players on some of the major areas to focus on to help successfully grow the market for these crucial electrification components.

The report demonstrates the trend that today’s automakers and suppliers are dramatically expanding their electrified offerings to achieve gains in fuel efficiency, reductions in emissions, and increases in available electrical power.

“Automotive manufacturers and suppliers are finally making a concerted shift from a focus on internal combustion engines to partially and fully electrified alternatives,” says Sam Abuelsamid, senior research analyst with Navigant Research.

“In their effort to retain profitability while ensuring these new propulsion systems remain affordable to consumers, these companies are working aggressively to improve the efficiency and reduce the cost of some of the core components, particularly the traction motors and power electronics.”