Markntel Advisors’ report, Electric Vehicle Motor Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2030, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Electric Vehicle Motor presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.
Electric Vehicle Motor Market Research Report & Market Summary:
The Global Electric Vehicle Motor Market size was valued at around USD 46 billion in 2024 and is projected to reach USD 120 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 17% during the forecast period, i.e., 2025-30. Various factors that drive the growth of this market include, rising investments in EV infrastructure, government schemes facilitating EV adoption, and strict CO2 emission standards laid by various agencies for automobile manufacturers around the world. Some of the mandates that are laid by various countries include the European Union’s CO2 emission regulation for cars, China’s New Electric Vehicle Mandate, and California’s Zero-Emission Vehicle (ZEV) mandate, which strive to lower greenhouse gas emissions like reducing CO2 emissions from vehicles to achieve net zero emissions by 2050.
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Electric Vehicle Motor Market Dynamics:
Key Driver-
Rising Adoption of Electric Vehicles Due to Environmental Concerns – Primarily the need to lower carbon emissions and growing environmental concerns are driving the increasing use of EVs which in turn drives the demand for EV motors. Transportation sector contributes to 45% of CO2 emissions, in which cars play a pivotal role. To fight this more than 20 nations including the U.S., China, and EU members have committed to phasing out internal combustion engine vehicles by 2040. Around the world, governments are implementing more stringent emission standards and encouraging the use of electric vehicles by offering incentives and, thus propelling the EV’s motor demand. In 2023 global car sales of EVs increased from 3.5 million higher than in 2022 demonstrating a substantial shift in consumer preferences. Furthermore, EV adoption as a sustainable substitute for fossil fuel-powered vehicles has accelerated due to the drop in battery prices.
Electric Vehicle Motor Market Segmentation Analysis:
According to MarkNtel study the market is segmented into the following categories:
By Vehicle Type
- Electric Passenger Cars- Market Size & Forecast 2020-2030, USD Million
- Sedan- Market Size & Forecast 2020-2030, USD Million
- Hatchback- Market Size & Forecast 2020-2030, USD Million
- SUV- Market Size & Forecast 2020-2030, USD Million
- Electric Commercial Vehicles- Market Size & Forecast 2020-2030, USD Million
- Electric Light Commercial Vehicles- Market Size & Forecast 2020-2030, USD Million
- Electric Light Trucks- Market Size & Forecast 2020-2030, USD Million
- Electric Minivans- Market Size & Forecast 2020-2030, USD Million
- Electric Medium & Heavy Commercial Vehicles- Market Size & Forecast 2020-2030, USD Million
- Electric Trucks- Market Size & Forecast 2020-2030, USD Million
- Electric Bus- Market Size & Forecast 2020-2030, USD Million
- Electric Two Wheelers- Market Size & Forecast 2020-2030, USD Million
- Electric Scooters- Market Size & Forecast 2020-2030, USD Million
- Electric Motorcycles- Market Size & Forecast 2020-2030, USD Million
- Electric Three Wheelers- Market Size & Forecast 2020-2030, USD Million
- Electric Light Commercial Vehicles- Market Size & Forecast 2020-2030, USD Million
With about 70% of the global market share, the electric passenger cars segment leads the electric vehicle motor market. This dominance is fueled by developing environmental concerns, government incentives, and battery technology advancements which have led to greater use of electrical vehicles.
By Type
- AC Motor- Market Size & Forecast 2020-2030, USD Million
- DC Motor- Market Size & Forecast 2020-2030, USD Million
By Motor Type
- Brushless Motors- Market Size & Forecast 2020-2030, USD Million
- Brushed Motors- Market Size & Forecast 2020-2030, USD Million
- Induction (Asynchronous) Motors- Market Size & Forecast 2020-2030, USD Million
- Switched Reluctance Motors- Market Size & Forecast 2020-2030, USD Million
- Synchronous Motors- Market Size & Forecast 2020-2030, USD Million
By Component
- Motor Stator- Market Size & Forecast 2020-2030, USD Million
- Rotor, Shaft, and Bearing- Market Size & Forecast 2020-2030, USD Million
- Permanent Magnet- Market Size & Forecast 2020-2030, USD Million
- Casing- Market Size & Forecast 2020-2030, USD Million
- Wiring & Connectors- Market Size & Forecast 2020-2030, USD Million
- Others- Market Size & Forecast 2020-2030, USD Million
By Power Rating
- Up to 20 kW- Market Size & Forecast 2020-2030, USD Million
- 21 kW to 100 kW- Market Size & Forecast 2020-2030, USD Million
- 101 kW to 250 kW- Market Size & Forecast 2020-2030, USD Million
- Above 250 kW- Market Size & Forecast 2020-2030, USD Million
With roughly 55% of the market share the 100 kW to 250 kW segment dominates the Global Electric Vehicle Motor Market. This dominance results from the strong demand for light commercial vehicles and passenger EVs which normally use motors in this energy range.
By Region
- North America
- South America
- Europe
- The Middle East and Africa
- Asia-Pacific.
With approximately 60% of the worldwide market, the Asia-Pacific region leads the electric car motor industry. Leading EV producers and customers in China, Japan, and South Korea are the main reasons for this leadership. In 2023 a significant quantity of EV sales worldwide were registered from China where BYD NIO and Geely have been the market leaders.
As indicated in the latest market research report published by Markntel Advisors, “Electric Vehicle Motor Research Report: Forecast (2025-2030)”, this report offers a detailed analysis of the industry, featuring insights into the Electric Vehicle Motor industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.
Browse Full Report Along with TOC and Figures - https://www.marknteladvisors.com/research-library/electric-vehicle-motor-market.html
Top Companies Operating in the Electric Vehicle Motor Market:
- Siemens AG
- ABB Ltd.
- Nidec Corporation
- Mitsubishi Electric Corporation
- Robert Bosch GmbH
- BorgWarner Inc.
- Continental AG
- Magna International Inc.
- Hitachi, Ltd.
- AISIN CORPORATION
- LG Magna e-Powertrain Co., Ltd.
- Johnson Electric Holdings Limited
- Toshiba Corporation
- GKN Automotive
- Allied Motion Technologies Inc.
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Key Report Highlights:
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
Frequently Asked Questions (FAQs)-
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What leading factors would propel and impede the industry across the geography?
- How has the industry been evolving in terms of geography & Electric Vehicle Motor Market adoption?
- How has the competition been shaping up across the geography?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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