Electric Motors For Electric Vehicle Market
Electric Motors For Electric Vehicle Market Size, Share & Trends Analysis Report by Motor Type (Alternative Current Motor, and Direct Current Motor), and by Vehicle Type (Hybrid Electric vehicle, plug-in Hybrid Electric vehicle, and Pure Electric Vehicle) Forecast Period (2023-2030) Update Available - Forecast 2024-2030
Electric motors for electric vehicle market is anticipated to grow at a significant CAGR of 21.7% during the forecast period. One of the major factors that are fueling the market is the growing demand for electric vehicles in the market, globally. Pollution has been growing for years and vehicle emission is one of the main sources of increasing pollution. This developed the notion of stopping pollution, which encouraged market players to develop the technology of electric vehicles. In the past few years, electric vehicles have overcome their issues, and market demand has grown exponentially. As per the data of the International Energy Agency (IEA), in 2020, electric car sales reached 2,977,058 units which is more than 40% of sales of electric cars in 2019.
Segmental Outlook
The global electric motors for electric vehicle market is segmented based on the motor type and vehicle type. Based on the motor type, the market is segmented into alternative current (AC) motors, and direct current (DC) motors. Based on the vehicle type, the market is sub-segmented into hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV), and pure electric vehicles (PEV). All three vehicle types are further segmented into passenger vehicles and commercial vehicles. Based on motor type, AC motor holds the major share in the market, while pure electric vehicle holds the major market share in the vehicle type segment.
The Pure Electric Vehicle Segment Holds the Major Share in the Global Electric Motors For Electric Vehicle Market
Based on vehicle type, the pure electric vehicle segment holds the major share and is anticipated to grow fastest during the forecast period. One of the crucial factors behind the growth of pure electric vehicles is their simplicity and cheaper after-sale expanses. Other than pure electric vehicles, both hybrids, HEV, and PHEV are much more complex as compared to the PEV since it relies on two power sources, which require much more maintenance, and consumes fuel as well which makes them much more expensive. As per the data of IEA 2020, out of the total number of electric cars, 3,346,713 electric vehicles are hybrid while 6,850,327 vehicles are pure electric.
Regional Outlooks
The global electric motors for electric vehicle market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Asia-Pacific holds the major share in the electric motor for electric vehicle market followed by Europe, and then North America.
Global Electric Motors For Electric Vehicle Market Growth, by Region 2023-2030
The Asia-Pacific Region Holds the Major Share in the Global Electric Motors For Electric Vehicle Market
Asia Pacific region holds the major share in the electric motor for electric vehicle market globally owing to the presence of emerging countries such as China, India, Japan, South Korea, and others. The region is the most populous and has major vehicle markets such as Toyota, Honda, Nio, Tata, and others. This has increased the sales of electric vehicles in the region exponentially and has great future potential for future electric vehicle sales and has a huge demand for electric motors. As per the data of IEA 2020, out of the total EV car stock of 10,228,265, China has 4,514,114 EV car stock which is more than 44% of the total EV car stocks.
Market Players Outlook
The major companies serving the global electric motors for the electric vehicle market include AISIN CORP., BYD Motors Inc., Robert Bosch GmbH, Tesla Inc., Toyota Motor Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2022, Omega Seiki Mobility (OSM) and EVR Motors, an Israeli start-up, designed a patented motor topology. They announced a partnership for manufacturing electric motors in India. This partnership introduces a new lightweight, compact Trapezoidal Stator Radial Flux (TSRF) motor, which can be adopted in a wide range of vehicles. The motor is planned to be used in current and future electric vehicles of Seiki Mobility. Interestingly, weighing just 9kg the air-cooled motor delivers 17 kW of power and 41 NM of torque.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.Country-wise analysis of major geographical regions.
- Key companies operating in the global electric motors for the electric vehicle market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Aisin Corp.
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. BYD Motors Inc.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Robert Bosch GmbH
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. Tesla Inc.
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Toyota Motor Corp.
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
4. Market Segmentation
4.1. Global Electric Motors For Electric Vehicle Market by Motor Type
4.1.1. Alternative Current (AC) Motor
4.1.2. Direct Current (DC) Motor
4.2. Global Electric Motors For Electric Vehicle Market by Vehicle Type
4.2.1. Hybrid Electric Vehicle (HEV)
4.2.1.1. Passenger Vehicles
4.2.1.2. Commercial Vehicles
4.2.2. Plug-in Hybrid Electric Vehicle(PHEV)
4.2.2.1. Passenger Vehicle
4.2.2.2. Commercial Vehicle
4.2.3. Pure Electric Vehicle (PEV)
4.2.3.1. Passenger Vehicle
4.2.3.2. Commercial Vehicle
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. BMW AG
6.2. DENSO Corp.
6.3. EVR Motors Ltd.
6.4. Hitachi, Ltd.
6.5. Honda Motor Co., Ltd.
6.6. Magna International Inc.
6.7. Mitsubishi Corp.
6.8. Nidec Corp.
6.9. Nissan
6.10. Toshiba International Corp.
1. GLOBAL ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY MOTOR TYPE, 2022-2030 ($ MILLION)
2. GLOBAL AC ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL DC ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
5. GLOBAL ELECTRIC MOTORS FOR HEV MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
6. GLOBAL ELECTRIC MOTORS FOR PHEV MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL ELECTRIC MOTORS FOR PEV MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
8. GLOBAL ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2022-2030 ($ MILLION)
9. NORTH AMERICAN ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
10. NORTH AMERICAN ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY MOTOR TYPE, 2022-2030 ($ MILLION)
11. NORTH AMERICAN ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
12. EUROPEAN ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
13. EUROPEAN ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY MOTOR TYPE, 2022-2030 ($ MILLION)
14. EUROPEAN ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
15. ASIA-PACIFIC ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
16. ASIA-PACIFIC ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY MOTOR TYPE, 2022-2030 ($ MILLION)
17. ASIA-PACIFIC ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
18. REST OF THE WORLD ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
19. REST OF THE WORLD ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY MOTOR TYPE, 2022-2030 ($ MILLION)
20. REST OF THE WORLD ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022-2030 ($ MILLION)
1. GLOBAL ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY MOTOR TYPE, 2022 VS 2030 (%)
2. GLOBAL AC ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
3. GLOBAL DC ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
4. GLOBAL ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2022 VS 2030 (%)
5. GLOBAL ELECTRIC MOTORS FOR HEV MARKET RESEARCH AND ANALYSIS BY REGION,2022 VS 2030 (%)
6. GLOBAL ELECTRIC MOTORS FOR PHEV MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
7. GLOBAL ELECTRIC MOTORS FOR PEV MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
8. US ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
9. CANADA ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
10. UK ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
11. FRANCE ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
12. GERMANY ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
13. ITALY ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
14. SPAIN ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
15. ROE ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
16. INDIA ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
17. CHINA ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
18. JAPAN ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
19. REST OF ASIA-PACIFIC ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
20. REST OF THE WORLD ELECTRIC MOTORS FOR ELECTRIC VEHICLE MARKET SIZE, 2022-2030 ($ MILLION)
