Global Electric Motors For Electric Vehicle Market is estimated to be valued at USD 16.07 Bn in 2025 and is expected to reach USD 60.70 Bn by 2032, growing at a compound annual growth rate (CAGR) of 20.9% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 16.07 Bn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
20.90%
2032 Value Projection:
USD 60.70 Bn
Figure. Electric Motors For Electric Vehicle Market Share (%), By Region 2025
The transition towards sustainable modes of transportation has gained significant momentum in recent years. Electric vehicles (EVs) are spearheading this shift owing to various economic and environmental benefits. As a key component of EVs, the electric motors for electric vehicle market is also witnessing strong growth. Electric motors replace conventional internal combustion engines and directly convert electrical energy into mechanical motion required to power EVs. Advantages of electric motors include high torque production, minimal maintenance needs, low noise levels, and zero direct emissions. Various innovations aim to improve motor efficiency, power density, and lifecycle to support the rising EV adoption. With stringent emission norms and fiscal incentives promoting EVs, the demand for efficient and high-performance electric motors is anticipated to surge substantially in the coming decades.
Market Dynamics:
The global electric motors for electric vehicle market is primarily driven by tightening emission regulations, rising environmental consciousness, and growing investments in electric mobility solutions worldwide. Strict protocols to curb vehicular greenhouse gas emissions under the Paris Agreement have accelerated EV development. Additionally, government subsidies for electric cars and imposition of taxes on internal combustion engine vehicles in countries like China, Europe, and North America are incentivizing consumers. On the supply side, continual technological advancements related to power electronics, magnets, motor design, and thermal management are expanding the applications of electric motors. However, high production costs and limited driving range of current electric vehicles still act as challenges. Moreover, lack of standardization across different vehicle platforms and insufficient charging infrastructure in several markets hamper full adoption. To address such issues, manufacturers are focusing on cost optimization, performance upgrades, and new business models involving shared mobility.
Key Features of the Study:
This report provides an in-depth analysis of the global electric motors for electric vehicle market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2025-2032), considering 2024 as the base year.
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global electric motors for electric vehicle market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Nidec Corporation, Denso Corporation, Bosch Rexroth AG, AMS Automotive Holding GmbH, Continental AG, Hitachi Automotive Systems, Ltd, YASKAWA Electric Corporation, Mitsubishi Electric Corporation, Toshiba Corporation, ZF Friedrichshafen AG, Hyundai Mobis, Sumitomo Heavy Industries, Ltd, Valeo SA, BorgWarner Inc, Johnson Electric Holdings Limited, UQM Technologies Inc, Tesla, Inc., XPeng Inc, and Li Auto Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global electric motors for electric vehicle market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electric motors for electric vehicle market.
Detailed Segmentation-
By Type
AC Motor
DC Motor
By Electric Vehicle Type
Battery Electric Vehicle
Hybrid Vehicles
Plug-in-Hybrid Vehicles
By Application
Passenger Vehicles
Commercial Vehicles
By Regional
North America
Europe
Asia Pacific
Latin America
Middle East
Africa
Key Players
Nidec Corporation
Denso Corporation
Bosch Rexroth AG
AMS Automotive Holding GmbH
Continental AG
Hitachi Automotive Systems, Ltd
YASKAWA Electric Corporation
Mitsubishi Electric Corporation
Toshiba Corporation
ZF Friedrichshafen AG
Hyundai Mobis
Sumitomo Heavy Industries, Ltd
Valeo SA
BorgWarner Inc
Johnson Electric Holdings Limited
UQM Technologies Inc
Tesla, Inc.
XPeng Inc
Li Auto Inc
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snippet, By Type
Market Snippet, By Electric Vehicle Type
Market Snippet, By Application
Market Snippet, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Restraints
Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of the COVID-19 Pandemic
4. Global Electric Motors for Electric Vehicle Market, By Type, 2020-2032 (US$ Billion)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2020-2032
Segment Trends
AC Motor
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
DC Motor
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
5. Global Electric Motors for Electric Vehicle Market, By Electric Vehicle Type, 2020-2032 (US$ Billion)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2020-2032
Segment Trends
Battery Electric Vehicle
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
Hybrid Vehicles
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
Plug-in-Hybrid Vehicles
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
6. Global Electric Motors for Electric Vehicle Market, By Application, 2020-2032 (US$ Billion)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2020-2032
Segment Trends
Passenger Vehicles
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
Commercial Vehicles
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
7. Global Electric Motors for Electric Vehicle Market, By Region, 2020-2032 (US$ Billion)
Introduction
Market Share Analysis, By Region, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2020-2032
North America
Regional Trends
Market Size and Forecast, By Type, 2020-2032 (US$ Billion)
Market Size and Forecast, By Electric Vehicle Type, 2020-2032 (US$ Billion)
Market Size and Forecast, By Application, 2020-2032 (US$ Billion)
Market Share Analysis, By Country, 2020 and 2032 (%)
U.S.
Canada
Europe
Regional Trends
Market Size and Forecast, By Type, 2020-2032 (US$ Billion)
Market Size and Forecast, By Electric Vehicle Type, 2020-2032 (US$ Billion)
Market Size and Forecast, By Application, 2020-2032 (US$ Billion)
Market Share Analysis, By Country, 2020 and 2032 (%)
U.K.
Germany
Italy
France
Russia
Rest of Europe
Asia Pacific
Regional Trends
Market Size and Forecast, By Type, 2020-2032 (US$ Billion)
Market Size and Forecast, By Electric Vehicle Type, 2020-2032 (US$ Billion)
Market Size and Forecast, By Application, 2020-2032 (US$ Billion)
Market Share Analysis, By Country, 2020 and 2032 (%)
China
India
ASEAN
Australia
South Korea
Japan
Rest of Asia Pacific
Latin America
Regional Trends
Market Size and Forecast, By Type, 2020-2032 (US$ Billion)
Market Size and Forecast, By Electric Vehicle Type, 2020-2032 (US$ Billion)
Market Size and Forecast, By Application, 2020-2032 (US$ Billion)
Market Share Analysis, By Country, 2020 and 2032 (%)
Brazil
Argentina
Mexico
Rest of Latin America
Middle East & Africa
Regional Trends
Market Size and Forecast, By Type, 2020-2032 (US$ Billion)
Market Size and Forecast, By Electric Vehicle Type, 2020-2032 (US$ Billion)
Market Size and Forecast, By Application, 2020-2032 (US$ Billion)
Market Share Analysis, By Country, 2020 and 2032 (%)