Magnet-free Electric Motor Market Share Driven by Rare Earth Alternatives and EV Innovation | Valuates Reports

Magnet-free Electric Motor Market
The global Magnet-free Electric Motor market was valued at US$ million in 2023 and is anticipated to reach US$ million by 2030, witnessing a CAGR of %during the forecast period 2024-2030.

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The Magnet-free Electric Motor market is witnessing strong market growth as industries search for alternatives to rare earth materials and embrace innovations in electric mobility. These motors, which eliminate dependency on costly and geopolitically sensitive magnets, are increasingly seen as a sustainable solution for automotive and industrial applications. With rising adoption of electric vehicles and supportive government policies, the market size is expected to expand steadily, reflecting global market trends toward clean energy and supply chain resilience.

By type, the synchronous motor segment holds the largest market share, driven by its efficiency, reliability, and suitability for high-performance electric powertrains. The other motor types are gaining market growth as companies explore novel designs and advanced materials to optimize energy conversion and reduce manufacturing costs, further diversifying the technology landscape.

By application, passenger cars dominate the market share, supported by the surge in electric vehicle production and consumer demand for sustainable transportation. The commercial vehicle segment is projected to register rapid market growth as logistics, public transport, and heavy-duty vehicle manufacturers adopt magnet-free technologies to reduce costs and enhance long-term operational stability.

Looking ahead, the market forecast points to accelerating innovation, with research focused on improving torque density, lowering production costs, and expanding large-scale deployment. Strategic partnerships, material innovations, and regulatory shifts encouraging rare earth alternatives are expected to shape the future of the Magnet-free Electric Motor market, reinforcing its role in driving the next phase of electric mobility.

by Type

• Synchronous Motor
• Other

by Application

• Passenger Car
• Commercial Vehicle

By Company

Mahle, ZF Friedrichshafen, Ricardo, Valeo

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