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Electric Vehicle Motor Market Anticipated to Hit $99.5 Billion Globally by 2032: Accelerating the Transition to Sustainable Mobility

01-22-2025 07:55 PM CET | Energy & Environment

Press release from: Allied Market Research

Electric Vehicle Motor Market Anticipated to Hit $99.5 Billion

Allied Market Research published a report, titled, "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, ๐ญ๐ก๐ž ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐ฌ๐ข๐ณ๐ž ๐จ๐Ÿ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐จ๐ญ๐จ๐ซ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ ๐ž๐ง๐ž๐ซ๐š๐ญ๐ž๐ $๐Ÿ๐Ÿ’.๐Ÿ—๐ŸŽ ๐›๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐ข๐ง ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ ๐š๐ง๐ ๐ข๐ฌ ๐š๐ง๐ญ๐ข๐œ๐ข๐ฉ๐š๐ญ๐ž๐ ๐ญ๐จ ๐ ๐ž๐ง๐ž๐ซ๐š๐ญ๐ž $๐Ÿ—๐Ÿ—.๐Ÿ’๐Ÿ— ๐›๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐›๐ฒ ๐Ÿ๐ŸŽ๐Ÿ‘๐Ÿ, ๐ฐ๐ข๐ญ๐ง๐ž๐ฌ๐ฌ๐ข๐ง๐  ๐š ๐‚๐€๐†๐‘ ๐จ๐Ÿ ๐Ÿ๐Ÿ“.๐Ÿ% ๐Ÿ๐ซ๐จ๐ฆ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ‘ ๐ญ๐จ ๐Ÿ๐ŸŽ๐Ÿ‘๐Ÿ.

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐š๐ ๐ž๐ฌ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/request-sample/2438

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.

๐๐ซ๐จ๐ฆ๐ข๐ง๐ž๐ง๐ญ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ

๐‚๐จ๐ง๐ญ๐ข๐ง๐ž๐ง๐ญ๐š๐ฅ ๐€๐†, ๐Œ๐ข๐ญ๐ฌ๐ฎ๐›๐ข๐ฌ๐ก๐ข ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐‚๐จ๐ซ๐ฉ๐จ๐ซ๐š๐ญ๐ข๐จ๐ง, ๐“๐Ž๐’๐‡๐ˆ๐๐€ ๐‚๐Ž๐‘๐๐Ž๐‘๐€๐“๐ˆ๐Ž๐, ๐‘๐จ๐›๐ž๐ซ๐ญ ๐๐จ๐ฌ๐œ๐ก ๐†๐ฆ๐›๐‡, ๐๐ˆ๐ƒ๐„๐‚ ๐‚๐Ž๐‘๐๐Ž๐‘๐€๐“๐ˆ๐Ž๐, ๐€๐ˆ๐’๐ˆ๐ ๐‚๐Ž๐‘๐๐Ž๐‘๐€๐“๐ˆ๐Ž๐, ๐€๐๐, ๐๐จ๐ซ๐ ๐–๐š๐ซ๐ง๐ž๐ซ ๐ˆ๐ง๐œ., ๐‡๐ข๐ญ๐š๐œ๐ก๐ข, ๐‹๐ญ๐., ๐Œ๐š๐ ๐ง๐š ๐ˆ๐ง๐ญ๐ž๐ซ๐ง๐š๐ญ๐ข๐จ๐ง๐š๐ฅ ๐ˆ๐ง๐œ.

๐๐ซ๐ข๐ฆ๐ž ๐ƒ๐ž๐ญ๐ž๐ซ๐ฆ๐ข๐ง๐š๐ง๐ญ๐ฌ ๐จ๐Ÿ ๐†๐ซ๐จ๐ฐ๐ญ๐ก

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.

๐๐ซ๐จ๐œ๐ฎ๐ซ๐ž ๐‚๐จ๐ฆ๐ฉ๐ฅ๐ž๐ญ๐ž ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/electric-vehicle-motor-market/purchase-options

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.

For example, In Europe the region introduced European Emission Standards or Euro Norms, which governs and looks after emission from vehicles. The law also encourages people to use green mobility technologies in order to cut down on harmful vehicle emissions. Likewise, other countries have also introduced regulation which limits and looks after vehicle emission standards. Moreover, on April 2022, India introduced a law which outlines a set percentage of emission allowed from vehicle, the law specifically looks after emission from vehicle which runs on petrol and diesel. Similarly, the country also passed a law that states that vehicle older than 15 years needs to be re-registered again for use on public road, if the automobiles are found unfit they will be scrapped.

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

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.

๐ˆ๐ง๐ญ๐ž๐ซ๐ž๐ฌ๐ญ๐ž๐ ๐ญ๐จ ๐๐ซ๐จ๐œ๐ฎ๐ซ๐ž ๐ญ๐ก๐ž ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ? ๐ˆ๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐๐ž๐Ÿ๐จ๐ซ๐ž ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/2438

The market share has been bifurcated on the basis of motor type, vehicle type, application as well as regions. On the basis of motor type the global market has been analyzed across AC motor and DC motor. On the basis of vehicle type the EV motor market is segmented into battery electric vehicle, hybrid vehicle & plug-in hybrid vehicle. On the basis of application the global electric vehicle motor market size has been studied across passenger cars and commercial vehicles. Based on region the global market has been analyzed across North America, Europe, Asia-Pacific, and LAMEA region.

๐Š๐„๐˜ ๐…๐ˆ๐๐ƒ๐ˆ๐๐†๐’ ๐Ž๐… ๐“๐‡๐„ ๐’๐“๐”๐ƒ๐˜

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.

๐‚๐ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ž ๐ซ๐ž๐ฅ๐š๐ญ๐ž๐ ๐ฌ๐ญ๐ฎ๐๐ข๐ž๐ฌ ๐ฉ๐ฎ๐›๐ฅ๐ข๐ฌ๐ก๐ž๐ ๐›๐ฒ ๐€๐Œ๐‘ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

๐”๐ญ๐ข๐ฅ๐ข๐ญ๐ฒ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ - https://www.prnewswire.com/news-releases/utility-vehicle-market-to-reach-51-69-bn-globally-by-2030-at-9-4-cagr-allied-market-research-301350994.html

๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ - 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

๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐“๐ฐ๐จ-๐–๐ก๐ž๐ž๐ฅ๐ž๐ซ ๐‹๐ข๐ญ๐ก๐ข๐ฎ๐ฆ-๐ˆ๐จ๐ง ๐๐š๐ญ๐ญ๐ž๐ซ๐ฒ ๐Œ๐š๐ง๐š๐ ๐ž๐ฆ๐ž๐ง๐ญ ๐’๐ฒ๐ฌ๐ญ๐ž๐ฆ ๐Œ๐š๐ซ๐ค๐ž๐ญ - https://www.prnewswire.com/news-releases/electric-two-wheeler-lithium-ion-bms-market-size-to-garner-5-6-billion-globally-by-2031-at-20-3-cagr-allied-market-research-301961247.html

๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐•๐ž๐ก๐ข๐œ๐ฅ๐ž ๐๐š๐ญ๐ญ๐ž๐ซ๐ฒ ๐‘๐ž๐œ๐ฒ๐œ๐ฅ๐ข๐ง๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ - https://www.alliedmarketresearch.com/electric-vehicle-battery-recycling-market

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ:
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๐€๐›๐จ๐ฎ๐ญ ๐ฎ๐ฌ :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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