The Global EV Motor Market is estimated to be US$ 6.2 billion in 2023. It is poised to register 28.1% growth over the forecast period from 2023 to 2030 to reach US $ 35.1 billion in 2030.
The market growth is driven by the increasing Ongoing research and development efforts in the EV motor sector are leading to innovations that enhance motor efficiency, durability, and overall performance. Leading companies are focusing on Increasing EV Adoption, Advancements in Motor Technology, Battery Technology, Infrastructure Expansion, Consumer Preferences, and others to boost market shares in the industry.
The Electric Vehicle (EV) Motor Market growth is driven by the increasing global adoption of electric vehicles, with key players including Siemens, ABB, Nidec, BorgWarner, and ZF Friedrichshafen. Various motor types, notably Permanent Magnet Synchronous Motors (PMSM), were in use, with a focus on enhancing motor efficiency, cooling systems, and integration with drivetrains. Government regulations and incentives, coupled with the expansion of EV charging infrastructure, played pivotal roles.
The trend toward longer-range batteries in the Electric Vehicle (EV) Motor Market is significantly enhancing the appeal and practicality of EVs by addressing range anxiety, appealing to a broader range of consumers, and fostering market competitiveness. These advanced batteries, achieved through improvements in battery chemistry and materials, are extending EV driving ranges, boosting demand for electric vehicles, and, consequently, increasing the need for EV motors.
The growing availability of electric vehicle (EV) models across different segments is spurring demand for the EV Motor Market, as consumers show increasing interest in EVs. This broader range of EV options diversifies the market, offering opportunities for EV motor manufacturers to meet rising demand, thereby driving growth in the EV motor market.
Technological advancements in the Electric Vehicle (EV) Motor Market are enhancing motor efficiency, power density, and overall performance. These innovations in motor design, materials, and control systems are driving the demand for advanced EV motors, supporting the shift toward sustainable transportation.
The Global EV Motor Market is analyzed by AC Motor, DC Motor, and others. Of these AC Motor will register the fastest growth. AC motors, including Permanent Magnet Synchronous Motors (PMSM) and Induction Motors, are pivotal in the Electric Vehicle (EV) Motor Market. Their efficiency and reliability make them a preferred choice for EVs, particularly PMSM motors, due to their high efficiency and power density. AC motors, combined with advanced control technology, enhance electric vehicle performance, range, and overall appeal, contributing significantly to EV adoption and the market's growth.
The Global EV Motor Market is analyzed across various Components including Motor stator, Rotor, Shaft, and Bearing, Permanent Magnet, Casing, Wiring, and Others. Of these, Motor Stator held a significant market share in 2023. In the Electric Vehicle (EV) Motor Market, the motor stator plays a pivotal role in generating the electromagnetic field that powers the motor. Its design and materials are crucial for optimizing energy efficiency and enhancing motor performance, directly impacting the range and sustainability of EVs. Ongoing innovation in stator technology is key to improving EV motor efficiency and supporting the market's growth in line with sustainability objectives.
By Type
By Component
By Application
By Region
* List not exhaustive
EV Motor Market Outlook 2023
1 Market Overview
1.1 Introduction to the EV Motor Market
1.2 Scope of the Study
1.3 Research Objective
1.3.1 Key Market Scope and Segments
1.3.2 Players Covered
1.3.3 Years Considered
2 Executive Summary
2.1 2023 EV Motor Industry- Market Statistics
3 Market Dynamics
3.1 Market Drivers
3.2 Market Challenges
3.3 Market Opportunities
3.4 Market Trends
4 Market Factor Analysis
4.1 Porter’s Five Forces
4.2 Market Entropy
4.2.1 Global EV Motor Market Companies with Area Served
4.2.2 Products Offerings Global EV Motor Market
5 COVID-19 Impact Analysis and Outlook Scenarios
5.1.1 Covid-19 Impact Analysis
5.1.2 Post-COVID-19 Scenario- Low Growth Case
5.1.3 Post-COVID-19 Scenario- Reference Growth Case
5.1.4 Post-COVID-19 Scenario- Low Growth Case
6 Global EV Motor Market Trends
6.1 Global EV Motor Revenue (USD Million) and CAGR (%) by Type (2018-2030)
6.2 Global EV Motor Revenue (USD Million) and CAGR (%) by Applications (2018-2030)
6.3 Global EV Motor Revenue (USD Million) and CAGR (%) by Regions (2018-2030)
7 Global EV Motor Market Revenue (USD Million) by Type, and Applications (2018-2022)
7.1 Global EV Motor Revenue (USD Million) by Type (2018-2022)
7.1.1 Global EV Motor Revenue (USD Million), Market Share (%) by Type (2018-2022)
7.2 Global EV Motor Revenue (USD Million) by Applications (2018-2022)
7.2.1 Global EV Motor Revenue (USD Million), Market Share (%) by Applications (2018-2022)
8 Global EV Motor Development Regional Status and Outlook
8.1 Global EV Motor Revenue (USD Million) By Regions (2018-2022)
8.2 North America EV Motor Revenue (USD Million) by Type, and Application (2018-2022)
8.2.1 North America EV Motor Revenue (USD Million) by Country (2018-2022)
8.2.2 North America EV Motor Revenue (USD Million) by Type (2018-2022)
8.2.3 North America EV Motor Revenue (USD Million) by Applications (2018-2022)
8.3 Europe EV Motor Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)
8.3.1 Europe EV Motor Revenue (USD Million), by Country (2018-2022)
8.3.2 Europe EV Motor Revenue (USD Million) by Type (2018-2022)
8.3.3 Europe EV Motor Revenue (USD Million) by Applications (2018-2022)
8.4 Asia Pacific EV Motor Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)
8.4.1 Asia Pacific EV Motor Revenue (USD Million) by Country (2018-2022)
8.4.2 Asia Pacific EV Motor Revenue (USD Million) by Type (2018-2022)
8.4.3 Asia Pacific EV Motor Revenue (USD Million) by Applications (2018-2022)
8.5 South America EV Motor Revenue (USD Million), by Type, and Applications (2018-2022)
8.5.1 South America EV Motor Revenue (USD Million), by Country (2018-2022)
8.5.2 South America EV Motor Revenue (USD Million) by Type (2018-2022)
8.5.3 South America EV Motor Revenue (USD Million) by Applications (2018-2022)
8.6 Middle East and Africa EV Motor Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)
8.6.1 Middle East and Africa EV Motor Revenue (USD Million) by Country (2018-2022)
8.6.2 Middle East and Africa EV Motor Revenue (USD Million) by Type (2018-2022)
8.6.3 Middle East and Africa EV Motor Revenue (USD Million) by Applications (2018-2022)
9 Company Profiles
10 Global EV Motor Market Revenue (USD Million), by Type, and Applications (2023-2030)
10.1 Global EV Motor Revenue (USD Million) and Market Share (%) by Type (2023-2030)
10.1.1 Global EV Motor Revenue (USD Million), and Market Share (%) by Type (2023-2030)
10.2 Global EV Motor Revenue (USD Million) and Market Share (%) by Applications (2023-2030)
10.2.1 Global EV Motor Revenue (USD Million), and Market Share (%) by Applications (2023-2030)
11 Global EV Motor Development Regional Status and Outlook Forecast
11.1 Global EV Motor Revenue (USD Million) By Regions (2023-2030)
11.2 North America EV Motor Revenue (USD Million) by Type, and Applications (2023-2030)
11.2.1 North America EV Motor Revenue (USD) Million by Country (2023-2030)
11.2.2 North America EV Motor Revenue (USD Million), by Type (2023-2030)
11.2.3 North America EV Motor Revenue (USD Million), Market Share (%) by Applications (2023-2030)
11.3 Europe EV Motor Revenue (USD Million), by Type, and Applications (2023-2030)
11.3.1 Europe EV Motor Revenue (USD Million), by Country (2023-2030)
11.3.2 Europe EV Motor Revenue (USD Million), by Type (2023-2030)
11.3.3 Europe EV Motor Revenue (USD Million), by Applications (2023-2030)
11.4 Asia Pacific EV Motor Revenue (USD Million) by Type, and Applications (2023-2030)
11.4.1 Asia Pacific EV Motor Revenue (USD Million), by Country (2023-2030)
11.4.2 Asia Pacific EV Motor Revenue (USD Million), by Type (2023-2030)
11.4.3 Asia Pacific EV Motor Revenue (USD Million), by Applications (2023-2030)
11.5 South America EV Motor Revenue (USD Million), by Type, and Applications (2023-2030)
11.5.1 South America EV Motor Revenue (USD Million), by Country (2023-2030)
11.5.2 South America EV Motor Revenue (USD Million), by Type (2023-2030)
11.5.3 South America EV Motor Revenue (USD Million), by Applications (2023-2030)
11.6 Middle East and Africa EV Motor Revenue (USD Million), by Type, and Applications (2023-2030)
11.6.1 Middle East and Africa EV Motor Revenue (USD Million), by Region (2023-2030)
11.6.2 Middle East and Africa EV Motor Revenue (USD Million), by Type (2023-2030)
11.6.3 Middle East and Africa EV Motor Revenue (USD Million), by Applications (2023-2030)
12 Methodology and Data Sources
12.1 Methodology/Research Approach
12.1.1 Research Programs/Design
12.1.2 Market Size Estimation
12.1.3 Market Breakdown and Data Triangulation
12.2 Data Sources
12.2.1 Secondary Sources
12.2.2 Primary Sources
12.3 Disclaimer
List of Tables
Table 1 Market Segmentation Analysis
Table 2 Global EV Motor Market Companies with Areas Served
Table 3 Products Offerings Global EV Motor Market
Table 4 Low Growth Scenario Forecasts
Table 5 Reference Case Growth Scenario
Table 6 High Growth Case Scenario
Table 7 Global EV Motor Revenue (USD Million) And CAGR (%) By Type (2018-2030)
Table 8 Global EV Motor Revenue (USD Million) And CAGR (%) By Applications (2018-2030)
Table 9 Global EV Motor Revenue (USD Million) And CAGR (%) By Regions (2018-2030)
Table 10 Global EV Motor Revenue (USD Million) By Type (2018-2022)
Table 11 Global EV Motor Revenue Market Share (%) By Type (2018-2022)
Table 12 Global EV Motor Revenue (USD Million) By Applications (2018-2022)
Table 13 Global EV Motor Revenue Market Share (%) By Applications (2018-2022)
Table 14 Global EV Motor Market Revenue (USD Million) By Regions (2018-2022)
Table 15 Global EV Motor Market Share (%) By Regions (2018-2022)
Table 16 North America EV Motor Revenue (USD Million) By Country (2018-2022)
Table 17 North America EV Motor Revenue (USD Million) By Type (2018-2022)
Table 18 North America EV Motor Revenue (USD Million) By Applications (2018-2022)
Table 19 Europe EV Motor Revenue (USD Million) By Country (2018-2022)
Table 20 Europe EV Motor Revenue (USD Million) By Type (2018-2022)
Table 21 Europe EV Motor Revenue (USD Million) By Applications (2018-2022)
Table 22 Asia Pacific EV Motor Revenue (USD Million) By Country (2018-2022)
Table 23 Asia Pacific EV Motor Revenue (USD Million) By Type (2018-2022)
Table 24 Asia Pacific EV Motor Revenue (USD Million) By Applications (2018-2022)
Table 25 South America EV Motor Revenue (USD Million) By Country (2018-2022)
Table 26 South America EV Motor Revenue (USD Million) By Type (2018-2022)
Table 27 South America EV Motor Revenue (USD Million) By Applications (2018-2022)
Table 28 Middle East and Africa EV Motor Revenue (USD Million) By Region (2018-2022)
Table 29 Middle East and Africa EV Motor Revenue (USD Million) By Type (2018-2022)
Table 30 Middle East and Africa EV Motor Revenue (USD Million) By Applications (2018-2022)
Table 31 Financial Analysis
Table 32 Global EV Motor Revenue (USD Million) By Type (2023-2030)
Table 33 Global EV Motor Revenue Market Share (%) By Type (2023-2030)
Table 34 Global EV Motor Revenue (USD Million) By Applications (2023-2030)
Table 35 Global EV Motor Revenue Market Share (%) By Applications (2023-2030)
Table 36 Global EV Motor Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2030)
Table 37 North America EV Motor Revenue (USD)By Country (2023-2030)
Table 38 North America EV Motor Revenue (USD Million) By Type (2023-2030)
Table 39 North America EV Motor Revenue (USD Million) By Applications (2023-2030)
Table 40 Europe EV Motor Revenue (USD Million) By Country (2023-2030)
Table 41 Europe EV Motor Revenue (USD Million) By Type (2023-2030)
Table 42 Europe EV Motor Revenue (USD Million) By Applications (2023-2030)
Table 43 Asia Pacific EV Motor Revenue (USD Million) By Country (2023-2030)
Table 44 Asia Pacific EV Motor Revenue (USD Million) By Type (2023-2030)
Table 45 Asia Pacific EV Motor Revenue (USD Million) By Applications (2023-2030)
Table 46 South America EV Motor Revenue (USD Million) By Country (2023-2030)
Table 47 South America EV Motor Revenue (USD Million) By Type (2023-2030)
Table 48 South America EV Motor Revenue (USD Million) By Applications (2023-2030)
Table 49 Middle East and Africa EV Motor Revenue (USD Million) By Region (2023-2030)
Table 50 Middle East and Africa EV Motor Revenue (USD Million) By Region (2023-2030)
Table 51 Middle East and Africa EV Motor Revenue (USD Million) By Type (2023-2030)
Table 52 Middle East and Africa EV Motor Revenue (USD Million) By Applications (2023-2030)
Table 53 Research Programs/Design for This Report
Table 54 Key Data Information from Secondary Sources
Table 55 Key Data Information from Primary Sources
List of Figures
Figure 1 Market Scope
Figure 2 Porter’s Five Forces
Figure 3 Global EV Motor Revenue (USD Million) By Type (2018-2022)
Figure 4 Global EV Motor Revenue Market Share (%) By Type (2022)
Figure 5 Global EV Motor Revenue (USD Million) By Applications (2018-2022)
Figure 6 Global EV Motor Revenue Market Share (%) By Applications (2022)
Figure 7 Global EV Motor Market Revenue (USD Million) By Regions (2018-2022)
Figure 8 Global EV Motor Market Share (%) By Regions (2022)
Figure 9 North America EV Motor Revenue (USD Million) By Country (2018-2022)
Figure 10 North America EV Motor Revenue (USD Million) By Type (2018-2022)
Figure 11 North America EV Motor Revenue (USD Million) By Applications (2018-2022)
Figure 12 Europe EV Motor Revenue (USD Million) By Country (2018-2022)
Figure 13 Europe EV Motor Revenue (USD Million) By Type (2018-2022)
Figure 14 Europe EV Motor Revenue (USD Million) By Applications (2018-2022)
Figure 15 Asia Pacific EV Motor Revenue (USD Million) By Country (2018-2022)
Figure 16 Asia Pacific EV Motor Revenue (USD Million) By Type (2018-2022)
Figure 17 Asia Pacific EV Motor Revenue (USD Million) By Applications (2018-2022)
Figure 18 South America EV Motor Revenue (USD Million) By Country (2018-2022)
Figure 19 South America EV Motor Revenue (USD Million) By Type (2018-2022)
Figure 20 South America EV Motor Revenue (USD Million) By Applications (2018-2022)
Figure 21 Middle East and Africa EV Motor Revenue (USD Million) By Region (2018-2022)
Figure 22 Middle East and Africa EV Motor Revenue (USD Million) By Type (2018-2022)
Figure 23 Middle East and Africa EV Motor Revenue (USD Million) By Applications (2018-2022)
Figure 24 Global EV Motor Revenue (USD Million) By Type (2023-2030)
Figure 25 Global EV Motor Revenue Market Share (%) By Type (2030)
Figure 26 Global EV Motor Revenue (USD Million) By Applications (2023-2030)
Figure 27 Global EV Motor Revenue Market Share (%) By Applications (2030)
Figure 28 Global EV Motor Market Revenue (USD Million) By Regions (2023-2030)
Figure 29 North America EV Motor Revenue (USD Million) By Country (2023-2030)
Figure 30 North America EV Motor Revenue (USD Million) By Type (2023-2030)
Figure 31 North America EV Motor Revenue (USD Million) By Applications (2023-2030)
Figure 32 Europe EV Motor Revenue (USD Million) By Country (2023-2030)
Figure 33 Europe EV Motor Revenue (USD Million) By Type (2023-2030)
Figure 34 Europe EV Motor Revenue (USD Million) By Applications (2023-2030)
Figure 35 Asia Pacific EV Motor Revenue (USD Million) By Country (2023-2030)
Figure 36 Asia Pacific EV Motor Revenue (USD Million) By Type (2023-2030)
Figure 37 Asia Pacific EV Motor Revenue (USD Million) By Applications (2023-2030)
Figure 38 South America EV Motor Revenue (USD Million) By Country (2023-2030)
Figure 39 South America EV Motor Revenue (USD Million) By Type (2023-2030)
Figure 40 South America EV Motor Revenue (USD Million) By Applications (2023-2030)
Figure 41 Middle East and Africa EV Motor Revenue (USD Million) By Region (2023-2030)
Figure 42 Middle East and Africa EV Motor Revenue (USD Million) By Region (2023-2030)
Figure 43 Middle East and Africa EV Motor Revenue (USD Million) By Type (2023-2030)
Figure 44 Middle East and Africa EV Motor Revenue (USD Million) By Applications (2023-2030)
Figure 45 Bottom-Up and Top-Down Approaches For This Report
Figure 46 Data Triangulation
By Type
By Component
By Application
By Region