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The electric vehicle business will approach a massive $500 billion in 2025 with the traction motors segment capturing over $25 billion. Traction motors propelling land, water and air vehicles along can consist of one inboard motor or - an increasing trend - more than one near the wheels, in the wheels, in the transmission or ganged to get extra power. Complex trends in this industry are explained with this updated report, and future winning suppliers are identified alongside market forecasts. The information is especially important as hybrid vehicles may have the electric motor near the conventional engine or its exhaust, and this may mean they need to tolerate temperatures never before encountered in pure electric vehicles. Motors for highly price-sensitive markets such as electric bikes, scooters, e-rickshaws and micro EVs avoid the price hikes of neodymium and other rare earths in the magnets.

This report looks closely at global trends in light electric vehicles’ (LEVs) technology, manufacture and market drivers such as legislation and the fact that several Chinese cities are banning or severely restricting LEVs. In the last few years, nearly every nation has bought ebikes from China, and in some cases, the volumes are now significant. Sales will reach 130 million yearly before 2025, making it one of the world's largest industries. The report encompasses over 70 brands, and gives forecasts of sales numbers, unit prices and total market value for 2013-2023. A significant percentage of ebikes sold are scooters in that they have the driver's feet rest on a platform - they are not straddled by the driver. Today, the LEV industry is dominated by large bicycle companies, due to their access to distribution. In the future, these companies will face major competition, and may be pushed aside by car, motorcycle, and car parts companies.

Half the electric vehicle market value lies in larger road vehicles, notably cars, and here the legal restrictions are weaker or non-existent, and range anxiety compels most people to buy hybrids if they go electric at all. Over eight million hybrid cars will be made in 2025, each with a range extender, the additional power source that distinguishes them from pure electric cars. Add to that significant money spent on the same devices in buses, military vehicles, boats and so on and a major new market emerges. Whereas today's range extenders usually consist of little more than off- the- shelf internal combustion engines, these are rapidly being replaced by second- generation range extenders consisting of piston engines designed from scratch for fairly constant load. However, a more radical departure is the third- generation micro turbines and fuel cells that work at constant load.