Electric Vehicle Motor Market by Vehicle Type (Two Wheeler, Three Wheeler, Passenger Vehicle, Commercial Vehicle), by Component (Motor Stator, Rotor, Shaft, Bearing, Permanent Magnet, Casing, Wiring & Connectors), by Power Rating (Up to 20 kW, 20 KW to 100 KW, 100 KW to 250 KW, Above 250 KW), by By Geography (North America), by Europe (U.K., Germany, France, Rest of Europe), by Asia Pacific (China, Japan, India, Rest of Asia Pacific), by Rest of the World (The Middle East & Africa, Latin America) Forecast 2024-2032
The Electric Vehicle Motor Marketsize was valued at USD 12.58 USD Billion in 2023 and is projected to reach USD 17.86 USD Billion by 2032, exhibiting a CAGR of 5.13 % during the forecast period. An electric vehicle (EV) motor is an electric motor utilized in the generation of mechanical power to drive vehicles. Some of the major types are DC motors with brushes, brushless DC (BLDC) motor, an induction or asynchronous motor, and a permanent magnet synchronous motor (PMSM). The most significant aspects are the high level of efficiency, high and constant torque output, well-muted noise, and its regenerative braking ability. These motors are utilized across several markets like automobiles, automobiles for passengers, buses, motorbikes, and industrial cars thus helping in the development of sustainable means of transport through a shift from the use of fossil fuels and high emissions. Improved motor technologies allow better drive output, durability, and acceleration, thus making electric vehicles not only more practical and sales-oriented vehicles.
Vehicle Type:
Component:
Power Rating:
Strengths:
Weaknesses:
Opportunities:
Threats:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.13% from 2018-2032 |
Segmentation |
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.13% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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