Electric Vehicle (EV) Motor Market to Reach USD 34.5 Billion by 2035 | 9.2% CAGR Forecast

According to the MarketGenics report, the global electric vehicle [EV] motor market is likely to grow from USD 14.3 Billion in 2025 to USD 34.5 Billion in 2035 at a highest CAGR of 9.2% during the time period. Rapidly increasing use of electric mobility solutions, increasing investments in charging infrastructure and ongoing development of motor efficiency and thermal management systems are the key factors that influence the development of the global electric vehicle (EV) motor market. Growing environmental worries and rising emission standards in different regions are forcing auto manufacturers to switch to electrification of powertrains instead of the internal combustion engine.

Moreover, performance and energy losses are being improved by the incorporation of silicon carbide (SiC) and gallium nitride (GaN) semiconductors in motor inverters, which is increasing the market base. The current OEM to Tier-1 supplier partnerships to localize the production of EV motors and minimize reliance on imports add more competitiveness to the industry. The combination of such factors guarantees the stable electric vehicle (EV) motor market growth and its technological development all over the world.

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Key Driver, Restraint, and Growth Opportunity Shaping the Global Electric Vehicle [EV] Motor Market

The key factors that contributed to the development of the electric vehicle (EV) motor market globally is the explosion of fast-charging networks and innovations in battery technologies that contribute positively to the effectiveness and performance of the former. EV motors are capable of running with higher torque and longer driving ranges because of improved energy density and shortened charging time. In April 2025, Hyundai Motor Company combined its next-generation electric motor system with 800 V ultra-fast charging with its IONIQ 7 to allow its motor to be more efficient and recover energy more quickly.

Dependence on rare-earth magnets and copper is also a major limitation to the electric vehicle (EV) motor market, as these materials are prone to drops in supply chains and fluctuating prices. Such materials are important in the production of high-performance motors. In February 2025, Nidec Corporation said that the spike in the prices of rare-earth was adding to the production costs, which in turn affected the profit margins and affordability of motors.

The opportunities are the increased adoption of the axial flux motor technology which is small in size and with a lightweight design and density of power than the conventional radial motors. In June 2025, YASA Limited (mercury of Mercedes-Benz) stated that it would increase the manufacture of axial flux motors in next-generation electric sports cars, to develop new prospects of efficient, high-performance EV propulsion systems.

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Regional Analysis of Global Electric Vehicle [EV] Motor Market

The Asia Pacific region has the most significant demand of electric vehicle (EV) motor because it is the region with the highest level of uptake of electric vehicles because of the supportive state policies, high rates of urbanization, and increase in environmental consciousness. The biggest EV market in the world, China contributes a huge share of motor demand and consumers and business clients are moving towards battery electric cars more and more.

In February 2025, BYD Company Ltd. increased its production of EV motors in Shenzhen, which accommodates domestic passenger cars and commercial e-buses. Moreover, such nations as India, Japan, or South Korea are facilitating EVs adoption with subsidies, tax benefits, and localized production schemes, and this contributes even more to the motor demand. The dominance on the EV motor market in Asia Pacific is supported by the strong infrastructure development and the growing consumer preference toward environmentally friendly movement.

The electric vehicle (EV) motor market demand in Europe is increasing at the fastest rate because of strict regulation of emissions, decarbonization, and more automakers are investing towards electrification technologies. CO2 emissions are being mandated by governments, and incentives provided to speed up the uptake of EVs.

Prominent players operating in the global electric vehicle [EV] motor market are Allied Motion Technologies Inc., BorgWarner Inc., BYD Company Ltd., Continental AG, Denso Corporation, Hitachi Astemo, Ltd., Johnson Electric Holdings Limited, Magna International Inc., Mahle GmbH, Marelli Holdings Co., Ltd., Mitsubishi Electric Corporation, Nidec Corporation, Parker Hannifin Corporation, Robert Bosch GmbH, Siemens AG, Tesla, Inc., Toshiba Corporation, Valeo SA, YASA Limited, ZF Friedrichshafen AG, and Other Key Players.

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Recent Development and Strategic Overview:

In February 2025, BorgWarner Inc. has received four new electric motor contracts with three large Chinese OEMs, and this is a big growth in the Asia Pacific EV motor market. Such projects include providing 400 V high-voltage hairpin (HVH) motors to a 200-kW hybrid rear-drive system, and manufacturing is to start in August 2025. The partnership enables BorgWarner to access the expertise of distance motor-inverter technology, which is a high efficiency and torque density that fits passenger and commercial cars. This will enhance the presence of the company in the biggest EV market in the world and it will be in line with the increasing demands of sophisticated propulsion systems.

In October 2025, DENSO Corporation announced a new generation inverter that would be used on the hybrid cars of Toyota with a 70% power loss and a 30% capacity reduction over the former models. The innovation makes the electric motors more efficient in terms of energy consumption and creates less need of space in the vehicle architecture. The smaller and lighter inverter is also better at thermal management and allows higher power density to hybrid and full-electric vehicles.

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Key Trend: Integration of Silicon Carbide (SiC) Technology

A key trend in the electric vehicle [EV] motor market is the adoption of the Silicon Carbide (SiC) technology which increases the efficiency, minimizes the energy loss, and also allows the design of compact motors.

BorgWarner also announced its iM-575 module with an inverter based on SiC at the ACT Expo 2025. SiC semiconductors also have a higher thermal conductivity and lower switching losses than silicon inverters, leading to an energy saving and reduced system weight, and a higher torque density. This enables the electric motors to perform better besides increasing battery range which is crucial to both commercial and passenger EVs.

Fast-charging compatibility and lessening cooling needs are also enabled by SiC integration that enhances the reliability of the system overall. The rising level of OEM usage of SiC technology, including electric trucks in the medium- and heavy-duty categories, is a sign of a transition to high-performance, energy-efficient electric drive systems across the world.

SiC technology is a performance driver that enhances energy efficiency and boosts the commercial and passenger vehicle EV motor adoption.

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