Electric Vehicle Motor Market Size/Share Worth USD 99.5 Billion by 2032 at a 15.2% CAGR: AMR

Electric Vehicle Motor Market'' By Type (AC Motor, DC Motors), Electric Vehicle Type (Battery Electric Vehicle, Hybrid Vehicles, and Plug-in-Hybrid Vehicles), and Application (Passenger Cars, and Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2023-2032". 𝐀𝐜𝐜𝐨𝐫𝐝𝐢𝐧𝐠 𝐭𝐨 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐢𝐳𝐞 𝐨𝐟 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐌𝐨𝐭𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐬𝐢𝐳𝐞 𝐠𝐞𝐧𝐞𝐫𝐚𝐭𝐞𝐝 $𝟐𝟒.𝟗𝟎 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟐 𝐚𝐧𝐝 𝐢𝐬 𝐚𝐧𝐭𝐢𝐜𝐢𝐩𝐚𝐭𝐞𝐝 𝐭𝐨 𝐠𝐞𝐧𝐞𝐫𝐚𝐭𝐞 $𝟗𝟗.𝟒𝟗 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐, 𝐰𝐢𝐭𝐧𝐞𝐬𝐬𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟏𝟓.𝟐% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟑 𝐭𝐨 𝟐𝟎𝟑𝟐.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/2438

𝐏𝐫𝐢𝐦𝐞 𝐃𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐆𝐫𝐨𝐰𝐭𝐡

The global electric vehicle motor market has experienced significant growth and transformation, driven by a combination of rise in demand for hybrid and electric vehicles, stringent regulations set by the government for the automotive industry, and an increase in research and development initiatives. The penetration of battery electric vehicles has increased significantly in the last five years as they are efficient and eco-friendly. Moreover, surge in consumer demand to minimize fuel costs is driving the demand for electric vehicle motors.

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

𝐀𝐈𝐒𝐈𝐍 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐌𝐢𝐭𝐬𝐮𝐛𝐢𝐬𝐡𝐢 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧, 𝐍𝐈𝐃𝐄𝐂 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐌𝐚𝐠𝐧𝐚 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐜., 𝐁𝐨𝐫𝐠𝐖𝐚𝐫𝐧𝐞𝐫 𝐈𝐧𝐜., 𝐓𝐎𝐒𝐇𝐈𝐁𝐀 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐑𝐨𝐛𝐞𝐫𝐭 𝐁𝐨𝐬𝐜𝐡 𝐆𝐦𝐛𝐇, 𝐀𝐁𝐁, 𝐂𝐨𝐧𝐭𝐢𝐧𝐞𝐧𝐭𝐚𝐥 𝐀𝐆, 𝐇𝐢𝐭𝐚𝐜𝐡𝐢, 𝐋𝐭𝐝.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/electric-vehicle-motor-market/purchase-options

The global electric vehicle motor market is anticipated to show a strong growth rate due to stricter government regulation set by regulatory bodies on the automobile industry. Regulatory bodies around the world have implemented strengthened regulations and laws related to emission from traditional ICE vehicle, and promote green mobility in the automobile industry. As the emission from automobiles are becoming challenging and increasingly common governments across the world have implemented strict laws and regulation to cut down on vehicle emission.

By type, the AC motor segment held the highest market share in 2022, and with the highest CAGR of 15.6% is estimated to maintain its leadership status throughout the forecast period 2023 to 2032, due to AC motors in electric vehicles providing a better grip on rough roads, thereby increasing efficiency and performance. AC motor is considered adaptable because it has regenerative features that can also be used as a generator and provide power to the vehicle's battery.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Asia-Pacific to maintain its dominance by 2032

By region, Asia-Pacific held the highest market share in terms of revenue in 2022 and is estimated to maintain its leadership status throughout the forecast period. Similarly, the Asia-Pacific region is expected to witness the fastest CAGR of 16.7% from 2023 to 2032, owing to higher adoption rates of smart mobility services, government regulations, increase in fuel prices, and rise in the trend toward adopting non-fossil fuel-based vehicles. Moreover, various technological advancements related to automotive due to government initiatives, such as investment in R&D in automotive manufacturing, further propel the market growth.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By type, the AC motor segment is anticipated to exhibit significant growth in the electric vehicle motor market in the near future.

By electric vehicle type, the hybrid vehicles segment is anticipated to exhibit significant growth in the market in the near future.

By application, the passenger cars segment is anticipated to exhibit significant growth in the market in the near future.

By Region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/2438

By electric vehicle type, the hybrid vehicle segment held the highest market share in 2022 and is estimated to maintain its leadership status throughout the forecast period. Similarly, the hybrid vehicle segment is anticipated to witness the highest CAGR of 15.5% from 2023 to 2032, owing to hybrid car utilization of two or more engines, an electric motor, and a conventional engine wherein the electric engine powers the car at the initial lower speeds and gas engine powers it at higher speeds resulting in better gas mileage. Similarly, the stricter emission rules set by governments across the world resulted in automakers' shift to developing hybrid car technology. Hybrid cars act as a bridge between ICE vehicles and fully electric vehicles, which further drives the market demand.

𝐕𝐢𝐬𝐢𝐭 𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨: https://www.prnewswire.com/news-releases/electric-vehicle-motor-market-to-garner-99-49-billion-globally-by-2032-at-15-2-cagr-allied-market-research-302075930.html

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/en/news-release/2023/10/23/2764378/0/en/Electric-Vehicle-Market-EV-Industry-Is-Set-to-Reach-an-Estimate-of-823-75-Billion-by-2030-at-a-Compound-Annual-Growth-Rate-CAGR-Of-18-2-Allied-Market-Research.html

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐒𝐜𝐨𝐨𝐭𝐞𝐫 𝐚𝐧𝐝 𝐌𝐨𝐭𝐨𝐫𝐜𝐲𝐜𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/en/news-release/2022/09/05/2509720/0/en/Electric-Scooter-and-Motorcycle-Market-To-Portray-93-9-Billion-by-2031-Allied-Market-Research.html

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐂𝐡𝐚𝐫𝐠𝐢𝐧𝐠 𝐂𝐨𝐧𝐧𝐞𝐜𝐭𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.prnewswire.com/news-releases/electric-vehicle-ev-charging-connector-market-to-reach-273-2-million-globally-by-2032-at-17-0-cagr-allied-market-research-301870146.html

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐒𝐡𝐢𝐩𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.prnewswire.com/news-releases/electric-ship-market-to-reach-23-8-billion-globally-by-2032-at-18-0-cagr-allied-market-research-301915936.html

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

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