Electric vehicle motor market to grow at a CAGR of 20.87%: Evolving opportunities with ECOmove GmbH, Ford Motor Co. among others- Technavio

NEW YORK, Feb. 14, 2023 /PRNewswire/ — The global electric vehicle motor market size is estimated to increase by USD 14,492.96 million between 2022 and 2027. The market’s growth momentum will accelerate at a CAGR of 20.87%. The report also includes historic market data from 2017 to 2021. In 2017, the electric vehicle motor market was valued at USD 2,365.75 million. COVID-19 had the most negative impact on the global automotive industry in recent years, resulting in a steep fall in demand and a large-scale disruption of the supply chain. It has exerted intense pressure on an already-stressed global automotive market. Yet, there are high predictions that few countries are bringing manufacturing facilities and production back on track, indicating that the supply side is on a restoration line. Discover some insights on the market – request a sample report

Key trends – Battery performance overview from logs is a key trend in the market. Charging cycles, duration, battery capacity, and range availed after each charge can be monitored and recorded by connecting a smartphone to the battery monitor. It can also create statistics based on the history available for easy interpretation of battery performance by users. Shared EV mobility is another upcoming trend, wherein taxi-sharing service providers and fleet operators are purchasing EVs in bulk to provide environment-friendly transport facilities. Such factors will fuel the growth of the EV motor market during the forecast period. Know more – Buy the Report!

Electric vehicle motor market – Customer landscape

To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity

Electric vehicle motor market – Vendor analysis

Vendor landscape –

The global electric vehicle motor market is fragmented, with the presence of several vendors. A few prominent vendors that offer electric vehicle motors in the market are 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, Volkswagen AG, and others.

The global EV motors market is in the growth stage, and it is expected to witness significant growth during the forecast period. The competition in the market is expected to intensify with the entry of new vendors, technological innovations, expansions, acquisitions, and strategic partnerships. These vendors compete on factors such as product differentiation, product portfolio, quality, and reliability. Established vendors are investing in R&D for the development of EV motors to explore new application areas. Thus, to stay competitive in the market, vendors should focus on developing modern technologies.

Vendor offerings –

• Allied Motion Technologies Inc. – The company offers electric vehicle (EV) motors, which include the DDA and GTx series offering load-carrying capacity up to 907 kg (2000 lb).
• AMETEK Inc. – The company offers electric vehicle (EV) motors that range from fractional horsepower to 12 hp and power ratings for brushless motors range from fractional to 4 horsepower.
• Continental AG – The company offers electric vehicle (EV) motors to create traction for electric vehicles.
• DENSO Corp. – The company offers electric vehicle (EV) motors that are used for driving hybrid vehicles and generating electricity.

Electric vehicle motor market – Segmentation assessment

Segment overview

Technavio has segmented the market based on type (AC motor and DC motor) and power rating (MPR, HPR, and IPR). 

• The MPR segment will account for a significant share of the market growth during the forecast period. MPR motors are used in full or plug-in hybrid powertrains and low-range pure EVs. For instance, The Nissan Leaf is equipped with an 80kW MPR motor for providing acceleration to the 3300 lb (approx 1500kg) vehicle. Other vehicles that use mid-power rating motors are Hyundai Sonata, Hyundai Ioniq Electric, Toyota Prius, and Chevrolet Volt.

Geography overview

Based on geography, the global electric vehicle motor market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global electric vehicle motor market.

• APAC is estimated to account for 50% of the growth of the global market during the forecast period. The growth of the market in the region is attributed to factors such as the increasing demand for EVs from countries such as China, Japan, India, Singapore, Thailand, and South Korea. This will increase the production and sales of EV-related parts, such as batteries, power inverters, and motors.

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Electric vehicle motor market – Market dynamics

Leading drivers – The increasing average miles driven by EVs on a single charge is driving the EV motor market growth. EV manufacturers are focusing on improving the battery pack size. OEMs are upgrading the battery packs of EVs to enhance the miles driven on a single charge. For instance, Tesla plans to improve the battery pack (100-kilowatt-hour) in its EVs. Similarly, the Nissan Leaf is improving its battery pack to enhance the miles driven on a single charge. Thus, the increasing average miles driven on a single charge will attract more customers, which will drive the demand for EV motors during the forecast period.

Major challenges – The lack of operational infrastructure in emerging markets is challenging market growth. There is a lack of efficient charging infrastructure for EVs, especially in emerging markets. In addition, road infrastructure is inadequate in these countries, which hinders the wide-scale expansion of EV charging infrastructure. Though governing bodies are developing charging stations, most of them are slow-charging stations and require a considerable amount of time to charge. Thus, the lack of operational infrastructure is expected to impede the overall growth of the market during the forecast period.

Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this electric vehicle motor market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the electric vehicle motor market between 2023 and 2027
• Precise estimation of the size of the electric vehicle motor market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the electric vehicle motor market across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of electric vehicle motor market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Power Rating
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global electric vehicle (EV) motor market 2017 – 2021
• Exhibit 18: Historic Market Size – Data Table on Global electric vehicle (EV) motor market 2017 – 2021 ($ million)

• 4.2 Power rating Segment Analysis 2017 – 2021
• Exhibit 19: Historic Market Size – Power rating Segment 2017 – 2021 ($ million)

• 4.3 Type Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Power Rating

• 6.1 Market segments 
• Exhibit 30: Chart on Power Rating – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Power Rating – Market share 2022-2027 (%)

• 6.2 Comparison by Power Rating 
• Exhibit 32: Chart on Comparison by Power Rating
• Exhibit 33: Data Table on Comparison by Power Rating

• 6.3 MPR – Market size and forecast 2022-2027
• Exhibit 34: Chart on MPR – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on MPR – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on MPR – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on MPR – Year-over-year growth 2022-2027 (%)

• 6.4 HPR – Market size and forecast 2022-2027
• Exhibit 38: Chart on HPR – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on HPR – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on HPR – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on HPR – Year-over-year growth 2022-2027 (%)

• 6.5 LPR – Market size and forecast 2022-2027
• Exhibit 42: Chart on LPR – Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on LPR – Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on LPR – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on LPR – Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Power Rating 
• Exhibit 46: Market opportunity by Power Rating ($ million)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 47: Chart on Type – Market share 2022-2027 (%)
• Exhibit 48: Data Table on Type – Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 49: Chart on Comparison by Type
• Exhibit 50: Data Table on Comparison by Type

• 7.3 AC motor – Market size and forecast 2022-2027
• Exhibit 51: Chart on AC motor – Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on AC motor – Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on AC motor – Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on AC motor – Year-over-year growth 2022-2027 (%)

• 7.4 DC motor – Market size and forecast 2022-2027
• Exhibit 55: Chart on DC motor – Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on DC motor – Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on DC motor – Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on DC motor – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 59: Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 APAC – Market size and forecast 2022-2027
• Exhibit 65: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027
• Exhibit 69: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 North America – Market size and forecast 2022-2027
• Exhibit 73: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027
• Exhibit 77: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 China – Market size and forecast 2022-2027
• Exhibit 85: Chart on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.9 US – Market size and forecast 2022-2027
• Exhibit 89: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.10 Norway – Market size and forecast 2022-2027
• Exhibit 93: Chart on Norway – Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Norway – Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Norway – Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Norway – Year-over-year growth 2022-2027 (%)

• 9.11 Germany – Market size and forecast 2022-2027
• Exhibit 97: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.12 France – Market size and forecast 2022-2027
• Exhibit 101: Chart on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on France – Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on France – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 Allied Motion Technologies Inc. 
• Exhibit 112: Allied Motion Technologies Inc. – Overview
• Exhibit 113: Allied Motion Technologies Inc. – Product / Service
• Exhibit 114: Allied Motion Technologies Inc. – Key offerings

• 12.4 AMETEK Inc. 
• Exhibit 115: AMETEK Inc. – Overview
• Exhibit 116: AMETEK Inc. – Business segments
• Exhibit 117: AMETEK Inc. – Key offerings
• Exhibit 118: AMETEK Inc. – Segment focus

• 12.5 Continental AG 
• Exhibit 119: Continental AG – Overview
• Exhibit 120: Continental AG – Business segments
• Exhibit 121: Continental AG – Key offerings
• Exhibit 122: Continental AG – Segment focus

• 12.6 DENSO Corp. 
• Exhibit 123: DENSO Corp. – Overview
• Exhibit 124: DENSO Corp. – Business segments
• Exhibit 125: DENSO Corp. – Key news
• Exhibit 126: DENSO Corp. – Key offerings
• Exhibit 127: DENSO Corp. – Segment focus

• 12.7 Ford Motor Co. 
• Exhibit 128: Ford Motor Co. – Overview
• Exhibit 129: Ford Motor Co. – Business segments
• Exhibit 130: Ford Motor Co. – Key news
• Exhibit 131: Ford Motor Co. – Key offerings
• Exhibit 132: Ford Motor Co. – Segment focus

• 12.8 Hitachi Ltd. 
• Exhibit 133: Hitachi Ltd. – Overview
• Exhibit 134: Hitachi Ltd. – Business segments
• Exhibit 135: Hitachi Ltd. – Key news
• Exhibit 136: Hitachi Ltd. – Key offerings
• Exhibit 137: Hitachi Ltd. – Segment focus

• 12.9 Magna International Inc. 
• Exhibit 138: Magna International Inc. – Overview
• Exhibit 139: Magna International Inc. – Business segments
• Exhibit 140: Magna International Inc. – Key news
• Exhibit 141: Magna International Inc. – Key offerings
• Exhibit 142: Magna International Inc. – Segment focus

• 12.10 Metric Mind Engineering 
• Exhibit 143: Metric Mind Engineering – Overview
• Exhibit 144: Metric Mind Engineering – Product / Service
• Exhibit 145: Metric Mind Engineering – Key offerings

• 12.11 Mitsubishi Electric Corp. 
• Exhibit 146: Mitsubishi Electric Corp. – Overview
• Exhibit 147: Mitsubishi Electric Corp. – Business segments
• Exhibit 148: Mitsubishi Electric Corp. – Key news
• Exhibit 149: Mitsubishi Electric Corp. – Key offerings
• Exhibit 150: Mitsubishi Electric Corp. – Segment focus

• 12.12 Nissan Motor Co. Ltd. 
• Exhibit 151: Nissan Motor Co. Ltd. – Overview
• Exhibit 152: Nissan Motor Co. Ltd. – Business segments
• Exhibit 153: Nissan Motor Co. Ltd. – Key news
• Exhibit 154: Nissan Motor Co. Ltd. – Key offerings
• Exhibit 155: Nissan Motor Co. Ltd. – Segment focus

• 12.13 Robert Bosch GmbH 
• Exhibit 156: Robert Bosch GmbH – Overview
• Exhibit 157: Robert Bosch GmbH – Business segments
• Exhibit 158: Robert Bosch GmbH – Key news
• Exhibit 159: Robert Bosch GmbH – Key offerings
• Exhibit 160: Robert Bosch GmbH – Segment focus

• 12.14 Siemens AG 
• Exhibit 161: Siemens AG – Overview
• Exhibit 162: Siemens AG – Business segments
• Exhibit 163: Siemens AG – Key news
• Exhibit 164: Siemens AG – Key offerings
• Exhibit 165: Siemens AG – Segment focus

• 12.15 Toshiba Corp. 
• Exhibit 166: Toshiba Corp. – Overview
• Exhibit 167: Toshiba Corp. – Business segments
• Exhibit 168: Toshiba Corp. – Key offerings
• Exhibit 169: Toshiba Corp. – Segment focus

• 12.16 Valeo SA 
• Exhibit 170: Valeo SA – Overview
• Exhibit 171: Valeo SA – Business segments
• Exhibit 172: Valeo SA – Key news
• Exhibit 173: Valeo SA – Key offerings
• Exhibit 174: Valeo SA – Segment focus

• 12.17 Volkswagen AG 
• Exhibit 175: Volkswagen AG – Overview
• Exhibit 176: Volkswagen AG – Business segments
• Exhibit 177: Volkswagen AG – Key offerings
• Exhibit 178: Volkswagen AG – Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 179: Inclusions checklist
• Exhibit 180: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 181: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 182: Research methodology
• Exhibit 183: Validation techniques employed for market sizing
• Exhibit 184: Information sources

• 13.5 List of abbreviations 
• Exhibit 185: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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