Group 11 Created with Sketch.
Download document Created with Sketch.

About this Report

Adamas Intelligence Pageheader Adamas Intelligence Pageheader

Electric Growth: EVs, Motors and Motor Materials (Free Report)

Published: November 2019

Looking forward, Adamas Intelligence forecasts that global annual EV sales (excluding mild and micro hybrids) will increase from 4.3 million units last year to 12.5 million in 2025 and 32.0 million in 2030.

With upwards of 80% of all EVs projected to use permanent magnet synchronous motors (“PMSMs”) in the years ahead, the rapid rise in EV sales will fuel a 350% increase in demand for rare earths used in EV traction motors between 2018 and 2025, and a further 127% increase in demand between 2025 and 2030.

In the next decade, rapid demand growth will challenge the ability of the supply-side to keep up, particularly for neodymium, praseodymium and dysprosium, with global annual demand for these elements expected to increasingly exceed global annual production in the years after 2020, resulting in the depletion of historically-accumulated inventories and, ultimately, shortages if the market continues on a path of business as usual.

Download Report

Join Our Mailing List

Download document Created with Sketch.
Complimentary digital download