Press release
Beyond 2023: A Look into the Future of the Electric Vehicle Motor Market, with Forecasts to 2028
Electric Vehicle Motor Market
IMARC Group's latest report, titled "Electric Vehicle Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", the global electric vehicle motor market size reached US$ 32,280 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 99,730 Million by 2028, exhibiting a growth rate (CAGR) of 20.80% during 2023-2028.
What is Electric Vehicle Motor ? :
Electric vehicle motor is a part of modern electric cars, enabling efficient and eco-friendly transportation. It uses electromagnetic fields to convert electrical energy from the battery into mechanical energy that propels the vehicle. Most EVs employ one of two types of motors: the brushed DC motor or the more common three-phase AC induction motor. AC motors are favored for their simplicity, reliability, and higher efficiency. They require minimal maintenance due to fewer moving parts and offer instant torque, ensuring smooth acceleration. As EV technology advances, motor designs continue to improve, boosting range, performance, and sustainability, driving us toward a greener automotive future.
Request Free Sample Report (Exclusive Offer on this report): https://www.imarcgroup.com/electric-vehicle-motor-market/requestsample
Who are the key Players Operating in the Industry ? :
• ABB Ltd
• BorgWarner Inc
• Continental AG
• Hitachi Astemo Ltd. (Hitachi Ltd.)
• Mitsubishi Electric Corporation
• Robert Bosch GmbH
What are the Growth Prospects and Trends in the Electric Vehicle Motor Industry ? :
The global market is majorly driven by the increasing concern over climate change and air pollution. In line with this, governments worldwide offer incentives such as tax credits, subsidies, and reduced registration fees to promote electric vehicle adoption, making them more attractive to consumers. Furthermore, the rapid advancements in battery technology, motor efficiency, and charging infrastructure are improving the overall performance and appeal of electric vehicles, significantly contributing to the market. Apart from this, the growth of public charging networks and the rising availability of fast chargers have alleviated charging concerns and encouraged more individuals to switch to electric vehicles, fueling product demand.
Moreover, the stricter emissions regulations and mandates to reduce greenhouse gas emissions are pushing automakers to produce more electric vehicles. As a result, there is a growing demand for electric vehicle motors to power these eco-friendly vehicles. Besides, the cost of batteries, a significant component of electric vehicles, has decreased over time. As battery costs continue to drop, electric vehicles become more affordable, accelerating demand for electric vehicle motors to power these vehicles.
Ask Analyst for Customization and Browse full report with TOC & List of Figure: https://www.imarcgroup.com/electric-vehicle-motor-market
What is Included in Market Segmentation ? :
Power Rating Insights:
• Up to 20 kW
• 20 kW to 100 kW
• 100 kW to 250 kW
• Above 250 kW
Application Insights:
• Two Wheeler
• Three Wheeler
• Passenger Vehicle
o BEV
o Hybrid
• Commercial Vehicle
o BEV
o Hybrid
Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Related Report By IMARC Group:
• https://www.digitaljournal.com/pr/news/global-agritourism-market-industry-trends-and-forecast-to-2023-2028
• https://www.digitaljournal.com/pr/news/baby-apparel-market-trends-scope-demand-opportunity-and-forecast-by-2023-2028
• https://www.digitaljournal.com/pr/news/esim-market-2023-2028-top-companies-new-technology-demand-and-opportunity-by-imarc-group
• https://www.digitaljournal.com/pr/news/2023-e-commerce-logistics-market-trends-size-share-and-forecast-by-2028
• https://www.digitaljournal.com/pr/news/2023-lingerie-market-global-sales-analysis-and-opportunity-2028
Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email: sales@imarcgroup.com
Follow us on Twitter: @imarcglobal
LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/
About Us:
IMARC Group is a leading market research compan that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Beyond 2023: A Look into the Future of the Electric Vehicle Motor Market, with Forecasts to 2028 here
News-ID: 3181466 • Views: …
More Releases from IMARC Group
Geo-Textile Manufacturing Plant Setup Cost 2025: CapEx/OpEx Analysis with Profit …
Setting up a geo-textile manufacturing facility necessitates a detailed market analysis alongside granular insights into various operational aspects, including unit processes, raw material procurement, utility provisions, infrastructure setup, machinery and technology specifications, workforce planning, logistics, and financial considerations.
IMARC Group's report titled "Geo-Textile Manufacturing Plant Project Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive guide for establishing a geo-textile manufacturing plant, covering…
Cashew Butter Manufacturing Plant Report 2025: Raw Materials, Investment Opportu …
Cashew butter is a creamy spread made by grinding roasted cashew nuts into a smooth paste, often enhanced with a pinch of salt or sweeteners. It is rich in healthy fats, protein, vitamins, and minerals, making it a nutritious alternative to traditional spreads like peanut butter. Cashew butter is widely used as a spread, in smoothies, baked goods, and health-focused recipes, gaining popularity among health-conscious consumers, vegans, and those seeking…
Calcium Chloride Anhydrous Production Cost Report 2025: Plant Setup Economics an …
Setting up a calcium chloride anhydrous production facility necessitates a detailed market analysis alongside granular insights into various operational aspects, including unit processes, raw material procurement, utility provisions, infrastructure setup, machinery and technology specifications, workforce planning, logistics, and financial considerations.
IMARC Group's report titled "Calcium Chloride Anhydrous Production Cost Analysis Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive guide for establishing a…
Paper Bag Manufacturing Plant Cost Report 2025: Layout, Machinery, Raw Materials …
Setting up a paper bag manufacturing facility necessitates a detailed market analysis alongside granular insights into various operational aspects, including unit processes, raw material procurement, utility provisions, infrastructure setup, machinery and technology specifications, workforce planning, logistics, and financial considerations.
IMARC Group's report titled "Paper Bag Manufacturing Plant Project Report 2025: Industry Trends, Plant Setup, Machinery, Raw Materials, Investment Opportunities, Cost and Revenue" offers a comprehensive guide for establishing a paper bag…
More Releases for Electric
Electrical Isolators Market 2023: Mitsubishi Electric, Orient Electric, Schneide …
The Electrical Isolators Market size (volume and value) and industry chain structure published by The Insight Partners through its high quality database which is a valuable source of guidance and direction for companies and individual interested in the industry.
An electrical isolator is a material in which electric current does not flow freely. The atoms of the insulator have tightly bound electrons which cannot readily move. Other materials, semiconductors and conductors…
Electric Motors for Electric Vehicle Market by Manufacturers: Hitachi Automotive …
Electric Motors for Electric Vehicle Market research report analyzes and studies the Electric Motors for Electric Vehicle Market's production, value, financial status, and capacity. It also provides information about market share and development plans during the projected period. Moreover, the Electric Motors for Electric Vehicle Market research report provides data about key manufacturers and focuses on the market competition landscape by analyzing the market by application, product type, and region.
Click…
Thermal Overload Relay Market 2021 Precise Outlook - ABB, Schneider Electric, Ea …
Global Thermal Overload Relay Market Size, Status and Forecast 2021
The Global Thermal Overload Relay Market report offers in-depth information and comprehensive analysis of the market. It provides a complete overview of the market with detailed insights on key aspects including the current market situation, potential size, volume, and dynamics of the market. This research report makes a thorough assessment of the COVID-19 pandemic and its impact on the current market…
Global Electric Motors for Electric Vehicles Market 2025 | MAHLE GmbH, Protean E …
Researchmoz added Most up-to-date research on "Global Electric Motors for Electric Vehicles Market Insights, Forecast to 2025" to its huge collection of research reports.
This report presents the worldwide Electric Motors for Electric Vehicles market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities…
Yokogawa Electric, General Electric Profiled in Smart Factory Solutions Market 2 …
Global Smart Factory Solutions Market which focuses on effective strategies of the business framework. It highlights the recent market trends stringent energy regulations and growing pressure to conform to energy efficiency. The research methods and tools used to analyze the studies are both primary and secondary research.
This market research report on analyzes the growth prospects for the key vendors operating in this market space including Siemens, ABB, Honeywell International, Yokogawa…
Global Quartz Heat Lamps Market 2017 : Indu Electric Gerber, Schneider Electric, …
The Market Research Store report offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Quartz Heat Lamps market around the globe. The research study includes significant data and also forecasts of the global market which makes the research report a helpful resource for marketing people, analysts, industry executives, consultants, sales and product managers, and other people who are in…
