Technavio has been monitoring the electric vehicle (EV) motor market and is forecast to grow by USD 80266.3 mn during 2023-2028, accelerating at a CAGR of 50.22% during the forecast period. Our report on the electric vehicle (EV) motor market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing sales of EVs, declining prices of lithium-ion batteries, and increasing average miles driven by EVs on a single charge.
Technavio's electric vehicle (EV) motor market is segmented as below:
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
36.1%
CAGR
50.22%
Incremental Value
$80266.3mn
By Power Rating
MPR
HPR
LPR
By Type
AC motor
DC motor
By Geographical Landscape
APAC
Europe
North America
South America
Middle East and Africa
This study identifies the battery performance overview from logs as one of the prime reasons driving the electric vehicle (EV) motor market growth during the next few years. Also, growing trend of multi-speed transmission in EVs and automakers involved in production of in-house electric motors will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the electric vehicle (EV) motor market covers the following areas:
Electric vehicle (EV) motor market sizing
Electric vehicle (EV) motor market forecast
Electric vehicle (EV) motor market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading electric vehicle (EV) motor market vendors that include ABB Ltd., Allied Motion Technologies Inc., AMETEK Inc., Continental AG, DENSO Corp., e Gle Co. Ltd., ECOmove GmbH, Ford Motor Co., GEM motors d.o.o, Hitachi Ltd., Magna International Inc., Metric Mind Engineering, Mitsubishi Electric Corp., Nidec Corp., Nissan Motor Co. Ltd., Robert Bosch GmbH, Siemens AG, Toshiba Corp., Valeo SA, and Volkswagen AG. Also, the electric vehicle (EV) motor market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by Power Rating
Executive Summary - Chart on Market Segmentation by Type
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
Value Chain Analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ million)
Data Table on Global - Market size and forecast 2023-2028 ($ million)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Global Electric Vehicle (EV) Motor Market 2018 - 2022
Historic Market Size - Data Table on Global Electric Vehicle (EV) Motor Market 2018 - 2022 ($ million)