The demand for new energy vehicle motors has exploded rapidly, and core component manufacturers have ushered in a good time

In recent years, sales of new energy vehicles have grown rapidly. Data show that the global sales of new energy vehicles increased from 380,000 in 2013 to 2.21 million in 2019, with a compound annual growth rate of 34.1%. The sales volume of new energy vehicles in my country increased from 17,600 in 2013 to 1.206 million in 2019, with a compound annual growth rate of 102.3%. The rapid development of new energy vehicles has led to a sharp increase in the demand for motor systems in the industrial chain.

From January to February 2020, the sales of new energy vehicles fell sharply, and the new energy vehicle sector has also experienced a relatively large correction recently. However, Pacific Securities emphasized that new energy vehicles are still the "window" of investment in the auto industry, which deserves special attention.

Sinolink Securities believes that in the next few years, the prosperity of the new energy vehicle industry chain will continue to rise. It is estimated that the global sales of new energy vehicles in 2020 will increase by 33% year-on-year to 3.7 million units; in 2020, the sales of new energy passenger vehicles will increase by 26% year-on-year to 1.34 million units.

The agency estimates that the market demand for motor drive systems for new energy vehicles is expected to reach 50-100 billion yuan by 2020. In addition to Tesla, BYD and other car companies, at present, overseas OEMs such as Volkswagen, Mercedes-Benz, and GM have started electrification.

Electrification has driven a sharp increase in the demand for motors, and the core components of motors are welcoming development opportunities.

Industry insiders said that the increasing demand for new energy vehicles and the gradual maturity of key technologies will enable the market demand for new energy vehicle motor systems to develop rapidly, and the market share of related core parts and components companies will also increase. Pacific Securities believes that in the direction of the new energy vehicle industry, my country has achieved a first-mover advantage. Continued efforts on the policy side are expected to accelerate the development of the industry. The long-term growth space of the new energy vehicle industry is clear, and the leading companies in each sub-industry have huge growth space.

This article is excerpted from Sina News