Electric Motors for Electric Vehicle Market, By Type, By Electric Vehicle Type, By Application, By Geography

Description

The electric motors for electric vehicle market is estimated to be valued at US$ 13.29 Bn in 2024 and is expected to reach US$ 49.70 Bn by 2031, growing at a compound annual growth rate (CAGR) of 20.7% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 13.29 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	20.70%	2031 Value Projection:	US$ 49.70 Bn

Figure. Electric Motors for Electric Vehicle Market Share (%), By Region, 2024

Electric Motors for Electric Vehicle Market - IMG1

The transition towards sustainable modes of transportation has gained significant momentum in recent years. Electric vehicles (EVs) are spearheading this shift owing to various economic and environmental benefits. As a key component of EVs, the electric motors for electric vehicle market is also witnessing strong growth. Electric motors replace conventional internal combustion engines and directly convert electrical energy into mechanical motion required to power EVs. Advantages of electric motors include high torque production, minimal maintenance needs, low noise levels, and zero direct emissions. Various innovations aim to improve motor efficiency, power density, and lifecycle to support the rising EV adoption. With stringent emission norms and fiscal incentives promoting EVs, the demand for efficient and high-performance electric motors is anticipated to surge substantially in the coming decades.

Market Dynamics:

The global electric motors for electric vehicle market is primarily driven by tightening emission regulations, rising environmental consciousness, and growing investments in electric mobility solutions worldwide. Strict protocols to curb vehicular greenhouse gas emissions under the Paris Agreement have accelerated EV development. Additionally, government subsidies for electric cars and imposition of taxes on internal combustion engine vehicles in countries like China, Europe, and North America are incentivizing consumers. On the supply side, continual technological advancements related to power electronics, magnets, motor design, and thermal management are expanding the applications of electric motors. However, high production costs and limited driving range of current electric vehicles still act as challenges. Moreover, lack of standardization across different vehicle platforms and insufficient charging infrastructure in several markets hamper full adoption. To address such issues, manufacturers are focusing on cost optimization, performance upgrades, and new business models involving shared mobility.

Key Features of the Study:

This report provides an in-depth analysis of the global electric motors for electric vehicle market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024-2031), considering 2023 as the base year.
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global electric motors for electric vehicle market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Nidec Corporation, Denso Corporation, Bosch Rexroth AG, AMS Automotive Holding GmbH, Continental AG, Hitachi Automotive Systems, Ltd, YASKAWA Electric Corporation, Mitsubishi Electric Corporation, Toshiba Corporation, ZF Friedrichshafen AG, Hyundai Mobis, Sumitomo Heavy Industries, Ltd, Valeo SA, BorgWarner Inc, Johnson Electric Holdings Limited, UQM Technologies Inc, Tesla, Inc., XPeng Inc, and Li Auto Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global electric motors for electric vehicle market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electric motors for electric vehicle market.

Detailed Segmentation-

By Type
- AC Motor
- DC Motor
By Electric Vehicle Type
- Battery Electric Vehicle
- Hybrid Vehicles
- Plug-in-Hybrid Vehicles
By Application
- Passenger Vehicles
- Commercial Vehicles
By Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
Key Players
- Nidec Corporation
- Denso Corporation
- Bosch Rexroth AG
- AMS Automotive Holding GmbH
- Continental AG
- Hitachi Automotive Systems, Ltd
- YASKAWA Electric Corporation
- Mitsubishi Electric Corporation
- Toshiba Corporation
- ZF Friedrichshafen AG
- Hyundai Mobis
- Sumitomo Heavy Industries, Ltd
- Valeo SA
- BorgWarner Inc
- Johnson Electric Holdings Limited
- UQM Technologies Inc
- Tesla, Inc.
- XPeng Inc
- Li Auto Inc

Product Code: CMI5338

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Type
- Market Snippet, By Electric Vehicle Type
- Market Snippet, By Application
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of the COVID-19 Pandemic

4. Global Electric Motors for Electric Vehicle Market, By Type, 2019-2031 (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
AC Motor
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
DC Motor
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

5. Global Electric Motors for Electric Vehicle Market, By Electric Vehicle Type, 2019-2031 (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Battery Electric Vehicle
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Hybrid Vehicles
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Plug-in-Hybrid Vehicles
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

6. Global Electric Motors for Electric Vehicle Market, By Application, 2019-2031 (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Passenger Vehicles
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Commercial Vehicles
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

7. Global Electric Motors for Electric Vehicle Market, By Region, 2019-2031 (US$ Billion)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
North America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Electric Vehicle Type, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2031 (%)
  - U.S.
  - Canada
  - Europe
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Electric Vehicle Type, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2031 (%)
  - U.K.
  - Germany
  - Italy
  - France
  - Russia
  - Rest of Europe
  - Asia Pacific
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Electric Vehicle Type, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2031 (%)
  - China
  - India
  - ASEAN
  - Australia
  - South Korea
  - Japan
  - Rest of Asia Pacific
  - Latin America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Electric Vehicle Type, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2031 (%)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
  - Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Electric Vehicle Type, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2031 (%)
  - GCC Countries
  - South Africa
  - Rest of the Middle East & Africa

8. Competitive Landscape

Company Profiles
- Nidec Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Denso Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Bosch Rexroth AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- AMS Automotive Holding GmbH
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Continental AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hitachi Automotive Systems, Ltd
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- YASKAWA Electric Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Mitsubishi Electric Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Toshiba Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- ZF Friedrichshafen AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hyundai Mobis
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Sumitomo Heavy Industries, Ltd
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Valeo SA
- BorgWarner Inc
- Johnson Electric Holdings Limited
- UQM Technologies Inc
- Tesla, Inc.
- XPeng Inc
- Li Auto Inc

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
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