As one of the three core components of the new energy vehicle, the drive motor is mainly composed of the stator, the rotor, the housing, the connector, the resolver, etc. The drive motor and the controller constitute the core system of the new energy vehicle, i.e. the drive motor system, whose performance determines the main performance indicators such as a vehicle’s climbing performance, acceleration, and maximum speed. At present, the driving motors used in new energy vehicles mainly include DC motors, AC motors, and switched reluctance motors. Permanent magnet synchronous motors take up the largest share of the Chinese motor market, followed by AC asynchronous motors.
In recent years, the Chinese government is vigorously advocating and has introduced a series of policies for the development of new energy vehicles, which booms the new energy vehicle industry. According to this research, from 2015 to 2019, the production and sales volume of new energy vehicles (electric vehicles) in China ranked first in the world for five consecutive years. As a result, the production volume of China’s new energy vehicle drive motors was only 72,000 in 2014 and increased to 1.33 million in 2018, with a CAGR of 107% from 2014 to 2018. In 2019, due to the decline in the production and sales of new energy vehicles in China, the production volume of new energy vehicle drive motors also dropped to 1.24 million.
The unprecedented market prospect has led to a sharp increase in the number of industry participants and increasingly fierce market competition. The electric vehicle drive motor manufacturers in China mainly include the enterprises that have experience in the manufacture of traditional automobiles and auto parts, for example, BYD and BAIC Group; the enterprises that have experience in the manufacture of motors for other sectors, for example, Zhongshan Broad-Ocean Motor Co., Ltd. and Jiangxi Special Electric Motor Co., Ltd.; and the motor enterprises established for new energy vehicles, for example, Shenzhen Greatland Electrics Inc. and Shanghai Dajun Technologies Inc. The costs of driving motors account for a high proportion.
The development of new energy vehicles (electric vehicles) is the fundamental solution to reducing environmental pollution and the reliance on fossil fuels. According to the research, due to the adverse effects of the COVID-19 epidemic, the global sales volume of new energy vehicles will likely decline from 2020 to 2021, but they will start to grow again in 2022. From 2022 to 2024, the global and Chinese electric vehicle production will continue to rise rapidly, thus creating a broad market for the drive motor industry.
The trend of China’s new energy vehicle market is basically the same as that of the global market. It will decline from 2020 to 2021 but will start to grow again in 2020. For manufacturers of new energy vehicle drive motors, the market growth rate will be low or even slightly decreased from 2020 to 2021, but it will grow rapidly from 2022.
Topics Covered:
- Development environment of China’s new energy vehicle drive motor industry
- Supply of and demand for new energy vehicle drive motors in China
- Major electric vehicle drive motor manufacturers in China
- Competition in China’s electric vehicle drive motor industry
- Production cost trend and price trend of electric vehicle drive motors in China
- Major driving forces and market opportunities for China’s electric vehicle drive motor industry from 2020 to 2024
- Forecast on the supply of and demand for new energy vehicle’s drive motor in China from 2020 to 2024
Table of Contents
1 Relevant Concept of Electric Vehicle Drive Motor Industry
1.1 Concept of New Energy Vehicle Drive Motors
1.2 Classification of Drive Motors
1.3 Overview of Global New Energy Vehicle Drive Motor Industry
1.4 Methodology
1.4.1 Parameters and Assumptions
1.4.2 Data Sources
1.4.3 About the Author
2 Analysis on China’s Electric Vehicle Drive Motor Industry
2.1 Development Environment of China’s Electric Vehicle Drive Motor Industry
2.1.1 Economic Environment
2.1.2 Policy Environment
2.1.3 Technological Environment
2.2 Analysis on Supply of NEV Drive Motors in China
2.3 Analysis on Demand for Electric Vehicle Drive Motors in China
3 Analysis on Market Competition in China’s Electric Vehicle Drive Motor Industry
3.1 Barriers to Entry in China’s Electric Vehicle Drive Motor Industry
3.1.1 Technical Barriers
3.1.2 Barriers of Industry Chain Cooperation
3.1.3 Barriers of Customer Certification
3.1.4 Capital Barriers
3.2 Competition Pattern of China’s NEV Drive Motor Industry
3.2.1 Bargaining Power of Raw Materials and Parts Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Internal Competition of NEV Drive Motor Industry
3.2.4 Potential Entrants to NEV Drive Motor Industry
3.2.5 Substitutes for NEV Drive Motors
4 Major Electric Vehicle Drive Motor Manufacturers in China, 2019-2020
4.1 BYD Auto Industry Co., Ltd.
4.1.1 Enterprise Profile
4.1.2 Operation Performance
4.2 Zhongshan Broad-Ocean Motor Co., Ltd.
4.2.1 Enterprise Profile
4.2.2 Operation Performance
4.3 Anhui JEE Automation Equipment Co., Ltd.
4.4 Jing-Jin Electric Technologies Co., Ltd.
4.5 United Automotive Electronic Systems Co., Ltd.
4.6 Shenzhen Greatland Electrics Inc.
4.6.1 Enterprise Profile
4.6.2 Operation Performance
4.7 Hepu Power Co., Ltd.
4.8 Huayu Automotive Electric Drive System Co., Ltd.
4.9 Zhuhai Enpower Electric Co., Ltd.
4.9.1 Enterprise Profile
4.9.2 Operation Performance
4.10 Zhejiang Founder Motor Co., Ltd.
4.10.1 Enterprise Profile
4.10.2 Operation Performance
5 Analysis on Raw Material Costs and Prices of Electric Vehicle Drive Motors in China
5.1 Analysis on Costs of New Energy Vehicle Drive Motors
5.2 Analysis on Prices of NEV Drive Motors
6 Prospect of China’s Electric Vehicle Drive Motor Industry, 2020-2024
6.1 Factors Influencing Development of China’s Electric Vehicle Drive Motor Industry
6.1.1 Major Driving Factors and Market Opportunities
6.1.2 Threats and Challenges
6.2 Forecast on Supply of NEV Drive Motors in China
6.3 Forecast on Demand for Electric Vehicle Drive Motors in China
List of Charts
Chart Classification of New Energy Vehicle Drive Motors
Chart Sales Volume of New Energy Vehicles in Globe, 2012-2024
Char China’s GDP, industrial value added and total retail sales value of consumer goods, 2015-2019
Chart Production Volume of Electric Vehicles in China, 2015-2024
Chart Sales Volume of Electric Vehicles in China, 2015-2024
Chart Constitution of Sales Volume of Electric Vehicles in China, 2019
Chart Proportion of Production Volume and Sales Volume of New-energy Vehicles in China’s Total Volume, 2015-2024
Chart Chinese Government’s Policies on New Energy Vehicle Drive Motors
Chart Production Volume of Electric Vehicle Drive Motors in China, 2015-2019
Chart Market Size of Electric Vehicle Drive Motors in China, 2015-2019
Chart Top 10 NEV Drive Motor Manufacturers by Sales Volume in China in 2019
Chart Profile of BYD Auto Industry Co., Ltd.
Chart Operating Revenue of BYD Company Limited from Automobiles and Relevant Products, 2016-2019
Chart Profile of Zhongshan Broad-Ocean Motor Co., Ltd.
Chart Operating Revenue of Zhongshan Broad-Ocean Motor Co., Ltd. from NEV Drive Motors, 2016-2019
Chart Financial Indicators of Zhongshan Broad-Ocean Motor Co., Ltd., 2016-2019
Chart Profile of Shenzhen Greatland Electrics Inc.
Chart Operating Revenue of Shenzhen Greatland Electrics Inc. from Electric Motors, 2016-2019
Chart Profile of Zhuhai Enpower Electric Co., Ltd.
Chart Financial Indicators of Zhuhai Enpower Electric Co., Ltd., 2016-2019
Chart Prices of Sintered NdFeB in China, 2015-2020
Chart Prices of Silicon Steels (M50W470: 0.5) in China, 2016-2020
Chart Forecast on Supply of Drive Motors in China, 2020-2024
Chart Forecast on Market Size of Drive Motors in China, 2020-2024
Samples
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Companies Mentioned
- Anhui JEE Automation Equipment Co., Ltd.
- BYD Auto Industry Co., Ltd.
- Hepu Power Co., Ltd.
- Huayu Automotive Electric Drive System Co., Ltd.
- Jing-Jin Electric Technologies Co., Ltd.
- Shenzhen Greatland Electrics Inc.
- United Automotive Electronic Systems Co., Ltd.
- Zhejiang Founder Motor Co., Ltd.
- Zhongshan Broad-Ocean Motor Co., Ltd.
- Zhuhai Enpower Electric Co., Ltd.
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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