European EV and hybrid motor market to exceed £1bn by 2017
Industry analysts Frost & Sullivan said carmakers were being forced to bring down fleet-average CO2 emissions in line with EU limits, while most of the EU-15 states offered consumer discounts for buyers of low-carbon vehicles. Electrification of vehicles’ powertrains has proved the most popular way to do so.
The report added that market growth would be accompanied by massive restructuring, with between 30 and 40% of vehicle manufacturers outsourcing electric motor supply planning to bring the technology in-house as of now, or form close ties with Tier 1 suppliers.
High performance and efficiency is set to make permanent magnet motors the dominant technology, the report predicts, but their reliance on rare earth metals could open the market for other options.
Frost & Sullivan team leader Anjan Hemanth Kumar commented: ‘Electric motors represent an advanced technology that will prove critical to the success of greener vehicles/ They will undoubtedly open doors of opportunity down the supply chain.’
‘Reliability, strong R&D, a smooth supply chain and tight quality control, coupled with state-of-the-art manufacturing procedures and facilities, are some of the key sourcing criteria for VMs.’