Electric Vehicle Motor Market by Type, Application, Key Players, Geographic Scope and Forecast 2023 - 2031

Electric Vehicle Motor Market was valued at $5.5 billion in 2021, and is projected to reach $34.4 billion by 2031, growing at a CAGR of 20.3% from 2022 to 2031.

The electric motor, which transforms electricity into torque to propel the vehicle, is a crucial component of the electric vehicle powertrain. The motor receives the power given by the battery pack, and the motor then transforms this electrical energy into mechanical energy, causing the vehicle to move. Regenerative braking is a technique used by the motors in electric vehicles, which means that when no power is being used, the motors start producing electricity and begin sending it back to the battery pack.

Due to the increase in demand for electric vehicles and the strict safety standards set by the government for the automotive sector, the global market for electric vehicle motors is expanding. High manufacturing costs, however, are what are impeding the market's expansion. The large range of applications that use electric motors is another aspect that is anticipated to present growth prospects throughout the projected period.

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Further, Development in the electric vehicle motor and an enhancement in government regulations and guidelines concerning vehicular emanations are the major reasons driving the electric vehicle motor industry. Nonetheless, the high starting cost of an electric engine and the high support costs related to an electric vehicle motor limit the development of the market.

The range of an electric car is also strongly impacted by the powertrain control frameworks. Another significant determinant in the growth of a sector is the application of tight administrative limitations. To reduce GHG emissions and address the causes of unnatural weather change, some countries have set strict discharge restrictions. Therefore, it anticipated automakers to create zero-discharge vehicles to comply with progressively stringent emission rules. The more effective focus on building more capable electric cars as a result of these restrictions will increase demand for electric vehicle motors over the forecast period.

Global Electric Vehicle Motor Market: Major Players
Mitsubishi Electric
BYD Auto
Toyota Industries
DENSO
Delphi Automotive
Metric Mind
Continental
Hitachi Automotive Systems
Tesla Motors

Global Electric Vehicle Motor Market: By Types
80KW

Global Electric Vehicle Motor Market: By Applications
Household Vehicle
Commercial Vehicle

Global Electric Vehicle Motor Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Electric Vehicle Motor market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Global Electric Vehicle Motor Market: Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of various marketspaces. The key players in the markets are identified through secondary research, and their market contributions in different applications across regions and globally were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Analytics Market Research added before being presented in this report.

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter's five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come

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