Global Electric Vehicle Motors Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The Global Electric Vehicle Motors Market is estimated to be USD 13.33 Bn in 2023 and is expected to reach USD 34.76 Bn by 2028 growing at a CAGR of 21.12%.

The Global Electric Vehicle (EV) Motors Market is presently undergoing a significant transformation, propelled by a convergence of factors fundamentally reshaping the automotive industry. The dynamics of this market are marked by an upsurge in the adoption of electric vehicles, evolving consumer preferences, stringent environmental regulations, and rapid technological advancements. These elements collectively contribute to the ongoing revolution in transportation, with electric motors at its epicenter.

The worldwide shift towards sustainable and ecologically sound mobility solutions is a primary impetus propelling the Global Electric Vehicle Motors Market. As concerns about climate change and air pollution intensify, governments across the globe are implementing more rigorous emission standards, compelling automakers to make substantial investments in electric vehicle technologies. Consequently, the market has witnessed a remarkable uptick in the production and acceptance of electric vehicles, resulting in a surge in the demand for high-performance electric motors to propel these vehicles.

Technological progress is pivotal in fostering market expansion, with continuous innovations in electric motor design, efficiency, and power output. Electric motors are transforming into being more compact, lightweight, and energy-efficient. This evolution empowers EV manufacturers to extend the driving range and enhance the performance of electric vehicles. Furthermore, the integration of advanced technologies such as regenerative braking systems and motor control algorithms significantly amplifies the overall efficiency of electric motors. These technological advancements are instrumental in driving the mass adoption of electric vehicles, rendering them a viable and appealing alternative to conventional internal combustion engine vehicles.

However, the Global Electric Vehicle Motors Market grapples with certain constraints, including apprehensions about the availability and sustainability of raw materials essential for electric motor production. The escalating demand for rare-earth metals, pivotal components in electric motors, has raised concerns regarding supply chain vulnerabilities and the environmental repercussions of their extraction. Moreover, the elevated cost of electric vehicles, largely driven by the expense associated with battery packs and electric motor systems, may dissuade price-sensitive consumers, potentially impeding the market's growth prospects.

• The market lends itself to segmentation based on various criteria, including motor type, power rating, vehicle type, and geographic region. Disparate regions exhibit distinct levels of market development and consumer acceptance of electric vehicles, with certain regions offering more conducive regulatory incentives and a more robust charging infrastructure. The Global Electric Vehicle Motors Market symbolizes a pivotal element in transforming the automotive industry towards sustainable and environmentally responsible mobility. As the market continues to evolve and surmount challenges, electric motors are poised to lead the automotive revolution, providing consumers worldwide with efficient, eco-friendly, and technologically advanced mobility solutions.

Market Segmentations

• The Global Electric Vehicle Motors Market (2023-2028) by Assembly, Motor Type, Power, Component, Vehicle Type, and Geography.
• By Assembly, Within the Global Electric Vehicle Motors Market, the assembly segment denotes the meticulous production and integration of electric motors into electric vehicles (EVs). This pivotal phase entails the intricate manufacturing and seamless installation of electric motors within EVs, ensuring their harmonious synergy and significant contribution to vehicle propulsion. In this context, electric motors are intricately woven with complementary components, including batteries, inverters, and power electronics, constituting the foundational nucleus of an EV's propulsion system. The assembly process transcends mere physical integration, encompassing the sophisticated integration of cutting-edge motor control mechanisms and thermal management systems, focusing on optimizing performance, efficiency, and overall durability. This assembly stage emerges as a linchpin, decisively shaping the comprehensive functionality and driving experience of electric vehicles, drawing the unwavering attention of manufacturers and engineers who are steadfastly committed to elevating EVs' performance and environmental sustainability quotient.
• By Motor Type, Within the Global Electric Vehicle Motors Market, the categorization based on motor type encapsulates a diverse spectrum of electric propulsion mechanisms employed in propelling electric vehicles (EVs). This spectrum features ubiquitous Alternating Current (AC) motors, notably the three-phase AC induction motors lauded for their dependability and straightforward design. In tandem, Permanent Magnet Synchronous Motors (PMSMs) are steadily garnering attention due to their remarkable efficiency and meticulous control attributes, rendering them exceptionally well-suited for an extensive array of EV applications. Meanwhile, Direct Current (DC) motors maintain their presence, particularly in select EV models, valued for their economical attributes and ease of upkeep. Determining motor type frequently hinges on multifaceted considerations such as vehicular architecture, performance requisites, and efficiency objectives. This delineation in motor types mirrors the ever-evolving panorama of electric mobility, with manufacturers continuously pioneering advancements to refine motor technologies, augmenting electric vehicles' range, potency, and energy efficiency.

Recent Development

• To produce electric motors and e-axle drives for electric vehicles, Nidec Corporation announced an investment of USD 715 million in Mexico. - November 2022
• Valeo SA acquired Siemens AG's portion of their joint venture, Valeo Siemens Automotive, which produces electric car components- February 2022

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Robert Bosch GmbH, ABB, Nidec Corporation, Johnson Electric Group and Siemens AG.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyse and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Electric Vehicle Motors Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Electric Vehicle Motors Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Electric Vehicle Motors Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
• Excel data sheet for the market size will also be provided with the report.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
• The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
• The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

• A complete analysis of the market, including the parent industry
• Important market dynamics and trends
• Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
• Market segmentation
• Competitive Analysis: Comparative analysis of competitor
• Historical, current, and projected size of the market based on value and volume
• Market size of the US states
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market