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Electric Vehicle Motors Global Market Report 2025
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Electric vehicle motors are fundamental components powered by electricity, responsible for converting energy from the vehicle's battery into mechanical power to drive the wheels, facilitating the vehicle's motion. Renowned for their electrical efficiency, these motors significantly contribute to enhancing the overall sustainability of electric transportation.

Electric vehicle motors come in two main types such as alternating current (AC) motors and direct current (DC) motors. AC motors operate on alternating current, converting electrical energy into mechanical motion efficiently and offering variable-speed propulsion. They consist of components such as the motor stator, rotor, shaft and bearing, permanent magnet, casing, wiring, and connectors. These motors find applications in electric two-wheelers, three-wheelers, commercial vehicles, and passenger cars, serving various end-user segments including agribusiness, transportation, private, and corporate sectors.

The electric vehicle motors research report is one of a series of new reports from The Business Research Company that provides electric vehicle motors market statistics, including the electric vehicle motors industry's global market size, regional shares, competitors with an electric vehicle motors market share, detailed electric vehicle motors market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle motors industry. This electric vehicle motors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The electric vehicle motors market size has grown rapidly in recent years. It will grow from $24.04 billion in 2024 to $28.18 billion in 2025 at a compound annual growth rate (CAGR) of 17.2%. The growth in the historic period can be attributed to government incentives and regulations, environmental awareness, infrastructure development, consumer acceptance and demand.

The electric vehicle motors market size is expected to see rapid growth in the next few years. It will grow to $48.57 billion in 2029 at a compound annual growth rate (CAGR) of 14.6%. The growth in the forecast period can be attributed to autonomous driving integration, global expansion of charging infrastructure, economic incentives and policies, integration with renewable energy sources. Major trends in the forecast period include technological advances, advancements in battery technology, emerging robotics technology, advancements in battery technologies.

The electric vehicle motor market is set for significant growth, driven by increasing demand for electric and hybrid vehicles. These vehicles, powered either solely by electricity or a combination of electric and internal combustion engines, are gaining popularity due to factors such as environmental awareness, government incentives, and technological advancements. Utilizing electric motors for propulsion, electric and hybrid vehicles are reducing reliance on traditional fossil fuels. For example, the International Energy Agency reported a substantial increase in electric car sales, with figures more than tripling from 2020 to 2022. By the first quarter of 2022, sales surpassed 2.3 million units, marking a 25% increase compared to the previous year. Furthermore, hybrid electric car sales witnessed a robust growth of 40.0% in February 2024, according to the Society of Motor Manufacturers and Traders (SMMT), with electrified vehicles capturing 5.6% of the market share. This surge in demand is propelling the growth of the electric vehicle motor market.

In response to the growing demand, major players in the electric vehicle motor market are focusing on developing advanced solutions to enhance performance and charging capabilities. One such innovation is the adoption of 800-volt technology, which enables faster charging and higher power efficiency compared to traditional 400-volt systems. For instance, in August 2023, Robert Bosch GmbH introduced innovative powertrain solutions incorporating 800V inverter technology, facilitating faster recharging and improving electromobility. The inverter for the 800-volt system utilizes silicon carbide semiconductors, enhancing efficiency and extending range. Additionally, the electric motor's 800-volt version boasts increased power density, resulting in reduced weight and a more compact design. Notably, the use of silicon carbide chips in the inverter reduces energy loss by 50%, achieving an impressive 99% efficiency for the inverters.

In January 2023, RattanIndia Enterprises Limited made a strategic move by acquiring Revolt Motors, an India-based manufacturer of electric motorcycles, to bolster its presence in the electric vehicle market. The acquisition aims to significantly expand Revolt's footprint and position it as a leading player in the electric two-wheeler segment within the nation. This strategic partnership reflects RattanIndia Enterprises' commitment to leveraging cutting-edge technologies and strengthening its position in the rapidly growing electric vehicle industry.

Major companies operating in the electric vehicle motors market are Tesla Motors Inc., Siemens AG, BYD Company Ltd., Bosch Mobility (Robert Bosch GmbH), DENSO Corporation, Continental AG, Magna International Inc., LG Magna e-Powertrain Co. Ltd., Mitsubishi Electric Corporation, Aisin Seiki Co Ltd., ABB Ltd., Toshiba Corporation, Nidec Motor Corporation, Parker Hannifin Corp., BorgWarner Inc., AISIN CORPORATION, Mahle GmBH, Delta Electronics Inc., Vitesco Technologies, Ametek Incorporation, GKN Automotive Ltd., Johnson Electric Holdings Limited, TECO Electric & Machinery Co. Ltd., Baldor Electric Company Inc., Chroma ATE Inc., Allied Motion Inc., Hitachi Astemo, ShenZhen V&T Technologies Co Ltd

Asia-Pacific was the largest region in the electric vehicle motors market in 2024. The regions covered in the electric vehicle motors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the electric vehicle motors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The electric vehicle motors market consists of sales of synchronous AC motors, induction AC motors, auxiliary motors, and motor controllers. values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Electric Vehicle Motors Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on electric vehicle motors market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Where is the largest and fastest growing market for electric vehicle motors ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electric vehicle motors market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.

Scope

Table of Contents

1. Executive Summary

2. Electric Vehicle Motors Market Characteristics

3. Electric Vehicle Motors Market Trends And Strategies

4. Electric Vehicle Motors Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Covid And Recovery On The Market

5. Global Electric Vehicle Motors Growth Analysis And Strategic Analysis Framework

6. Electric Vehicle Motors Market Segmentation

7. Electric Vehicle Motors Market Regional And Country Analysis

8. Asia-Pacific Electric Vehicle Motors Market

9. China Electric Vehicle Motors Market

10. India Electric Vehicle Motors Market

11. Japan Electric Vehicle Motors Market

12. Australia Electric Vehicle Motors Market

13. Indonesia Electric Vehicle Motors Market

14. South Korea Electric Vehicle Motors Market

15. Western Europe Electric Vehicle Motors Market

16. UK Electric Vehicle Motors Market

17. Germany Electric Vehicle Motors Market

18. France Electric Vehicle Motors Market

19. Italy Electric Vehicle Motors Market

20. Spain Electric Vehicle Motors Market

21. Eastern Europe Electric Vehicle Motors Market

22. Russia Electric Vehicle Motors Market

23. North America Electric Vehicle Motors Market

24. USA Electric Vehicle Motors Market

25. Canada Electric Vehicle Motors Market

26. South America Electric Vehicle Motors Market

27. Brazil Electric Vehicle Motors Market

28. Middle East Electric Vehicle Motors Market

29. Africa Electric Vehicle Motors Market

30. Electric Vehicle Motors Market Competitive Landscape And Company Profiles

31. Electric Vehicle Motors Market Other Major And Innovative Companies

32. Global Electric Vehicle Motors Market Competitive Benchmarking And Dashboard

33. Key Mergers And Acquisitions In The Electric Vehicle Motors Market

34. Recent Developments In The Electric Vehicle Motors Market

35. Electric Vehicle Motors Market High Potential Countries, Segments and Strategies

36. Appendix

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