A recent report published by Infinium Global Research on electric vehicle motor market provides in-depth analysis of segments and sub-segments in the global as well as regional electric vehicle motor market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional electric vehicle motor market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global electric vehicle motor market.
The electric vehicle motors market (fully electric vehicles) refers to the market for electric motors exclusively used in battery electric vehicles (BEVs), vehicles powered solely by electricity stored in onboard batteries, without any internal combustion engine. The fully electric vehicle motors are witnessing unique trends such as rising adoption of axial flux motors for compact performance, integration of drive units combining motor, inverter, and gearbox, and an increase in in-house motor development by OEMs to reduce dependency on suppliers and enhance customization for performance optimization and energy efficiency. Leading players in the market include Nidec Motor Corporation., BorgWarner Inc., Robert Bosch GmbH, ABB, and others.
Companies in the electric vehicle motors market are adopting strategies such as vertical integration, in-house motor design, partnerships with semiconductor firms, and investment in rare-earth-free motor technologies. Electrification advancements in power electronics are enabling the seamless integration of inverters and motor controllers play a critical role in optimizing electric motor performance, enabling efficient energy conversion and dynamic torque control. They are also focusing on cost optimization, localized production, and advanced cooling systems to enhance motor performance and meet varying global efficiency standards. Firms face challenges including dependence on rare earth materials, thermal management issues, and complex supply chains. These may be addressed by developing alternative motor designs, recycling critical materials, improving thermal efficiency, and securing diversified supplier networks to reduce geopolitical and material sourcing risks.
Government incentives and regulatory enforcement are central to accelerating the adoption of electric vehicles, which in turn drives the electric vehicle (EV) motors market. Countries such as the U.S., China, and members of the European Union are introducing strong policies that include tax rebates, purchase subsidies, and stricter emissions standards. These initiatives encourage consumers to switch from internal combustion engine vehicles to fully electric vehicles (BEVs), driving demand for EV motors. Additionally, the enforcement of long-term goals such as banning the sale of gasoline and diesel cars by 2035 in many regions further boosts the need for high-performance EV motors. Regulatory requirements also promote innovations in motor technology, fostering the development of more energy-efficient, lightweight, and cost-effective motor solutions for fully electric vehicles, stimulating growth in the EV motor sector.
Additionally, technological advancements in motor design are playing a pivotal role in the expansion of the electric vehicle motors market. Innovations such as axial flux motors, which are more compact and efficient, and the integration of motors with inverters, are enhancing the performance and efficiency of EVs. These advancements enable the development of motors that are not only lighter and more powerful but also more cost-effective to manufacture, thereby reducing the overall cost of electric vehicles. Moreover, advancements in cooling technologies are improving motor durability and performance, especially in high-powered BEVs. As automakers continuously seek to optimize energy efficiency, torque density, and reduce battery consumption, the demand for advanced motor technologies is expected to grow, driving significant market expansion. Furthermore, the shift towards integrating more customized, purpose-built motors for different vehicle categories offers further growth potential. However, high manufacturing costs are restraining the expansion of the electric vehicle motors market, especially for fully electric vehicles (BEVs). The production of advanced electric motors requires expensive raw materials such as rare earth elements, which are crucial for motor efficiency but are costly and subject to supply chain volatility. Additionally, the manufacturing process for high-performance motors demands advanced technology, specialized equipment, and skilled labor, further driving up production costs. These elevated costs make BEVs more expensive, limiting their affordability for consumers and slowing widespread adoption.
As a result, the overall growth of the EV motor market is hindered until manufacturers find ways to reduce costs and increase production efficiency. Furthermore, the expansion of wireless charging technology is expected to create lucrative opportunities in the electric vehicle motors market in the coming years. Wireless charging systems rely heavily on high-frequency inverters, resonant converters, and control algorithms, underscoring the critical role of power electronics in enabling efficient and safe energy transfer to EV motors. As wireless charging becomes more widespread, it offers the potential to eliminate the need for physical connectors, simplifying the charging process for fully electric vehicles (BEVs) and increasing consumer convenience. This innovation will not only enhance user experience but also reduce wear and tear on charging ports and cables, contributing to the longevity of the vehicle. For electric motors, wireless charging requires the development of motors optimized for high-frequency power transfer and efficient energy conversion. This trend could drive demand for advanced motor technologies, creating new growth avenues for manufacturers who may develop compatible solutions. As charging infrastructure expands, particularly in urban areas, the adoption of wireless charging systems will accelerate, presenting significant market opportunities in the coming years.
Asia-Pacific dominates the electric vehicle motor market, attributed to strong domestic demand, advanced manufacturing ecosystems, and government-backed EV industrialization strategies. China, in particular, leads with vertically integrated supply chains, local rare earth processing capacity, and state-funded R&D in high-efficiency motor technologies such as axial flux and switched reluctance motors. Japan and South Korea contribute through innovations in thermal management systems and compact motor-inverter integration. Regional OEMs increasingly manufacture in-house motors to enhance customization and reduce costs. Additionally, the presence of global motor suppliers setting up regional production hubs accelerates market leadership, supported by strategic localization policies and high-volume EV production platforms. North America is poised to witness the fastest growth in the electric vehicle (EV) motor market over the coming years, driven by distinct regional advantages. The U.S. government’s target of 50% zero-emission vehicle sales by 2030, combined with large-scale investments in public EV charging infrastructure, is significantly accelerating adoption. Moreover, the region’s abundant natural resources, such as lithium and nickel deposits in Canada, are enabling localized battery and motor component manufacturing, reducing dependence on foreign supply chains. Innovations such as low-voltage architecture are further optimizing motor systems. These advancements, along with expanding EV lineups from automakers, are expected to fuel rapid market expansion in the coming years in North America.
| Report Coverage | Details |
|---|---|
| Market Size in 2023 | USD 745.23 Million |
| Market Size by 2032 | USD 1451.05 Million |
| Growth Rate from 2024 to 2032 | CAGR of 8.04% |
| Largest Market | Asia Pacific |
| No. of Pages | 255 |
| Market Drivers |
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| Market Segmentation | By Motor Type, By Power Rating, and By Vehicle Type |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global electric vehicle motor market provides a detailed analysis of segments in the market based on Motor Type, Power Rating, and Vehicle Type.
· Permanent Magnet Synchronous Motors (PMSM)
· Induction Motors
· Switched Reluctance Motors
· Less than 100 kW
· 100–250 kW
· Above 250 kW
· Passenger Cars
· Commercial Vehicles
· Two-wheelers & Three-wheelers
· Nidec Motor Corporation
· BorgWarner Inc.
· Robert Bosch GmbH
· ABB
· ZF Friedrichshafen AG
· Toshiba International Corporation
· Hitachi Astemo Americas, Inc.
· MITSUBISHI MOTORS CORPORATION
· Magna International Inc.
· TECO Corporation
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the electric vehicle motor market. Moreover, the study highlights current market trends and provides forecasts from 2024-2032. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.