Report Description Table of Contents The Electric Vehicle Motor Market will witness a robust CAGR of 18.45%, valued at $6.34 Billion in 2023, expected to appreciate and reach $20.73 billion by 2030. Stringent government regulations and environmental concerns are pushing for cleaner transportation solutions. This is leading to a surge in demand for electric vehicles globally. As a crucial component of EVs, the electric vehicle motor market directly benefits from this rise in EV popularity. Car manufacturers are engaged in a competitive race to launch innovative electric vehicles, and the advancements in the industry go beyond battery packs. Electric motors are rapidly improving, driven by the increasing demand for electric vehicles worldwide. Electric motors are in high demand worldwide for a variety of vehicle types, including the commercial and passenger vehicle categories, due to the electric vehicle market's explosive growth. Electric motor parts and associated materials are in greater demand at the same time. There are significant concerns regarding the use of rare earth metals in electric motors. Currently, up to 80 percent of electric vehicle (EV) motors rely on permanent magnets containing metals such as neodymium, praseodymium, dysprosium, and terbium. The extraction and processing of these materials result in the generation of toxic waste, and a considerable portion of the production occurs in China. This reliance on China for rare earth metals could pose challenges, particularly if U.S.-China relations worsen. In response to these concerns, Tesla recently announced its plans to develop a new motor that eliminates the need for rare earth metals. While earlier Tesla models utilized AC induction motors that did not require rare earth metals, the introduction of the Model 3 brought about the use of an always-on magnetic motor. These motors use battery power to generate torque and rotate wheels. There are various motor types like AC induction (common, reliable, less efficient), permanent magnet synchronous (efficient, powerful, more expensive) and brushless DC (efficient, good power, complex control) used depending on desired range, power and cost. We see them in electric cars, trucks, buses, scooters and motorcycles and their use is expected to grow due to increasing affordability and efficiency of electric vehicles, leading to reduced emissions and better air quality. The advancements in electric motors greatly impact employment in the automotive industry. Electric vehicles (EVs) typically have 50% fewer parts than combustion-powered vehicles and require 30% less labor. This shift towards EVs has led car manufacturers to adopt strategies to retain jobs and ensure competitiveness. Recent data from the Society of Motor Manufacturers & Traders (SMMT) reveals that the new car market experienced a growth of 24.4% in August, with 85,657 new vehicles registered during the month. The market for electric vehicles grew further, with almost four out of ten (37.8%) of all new cars being electric. The adoption of battery electric vehicles also surged by 72.3%, securing a 20.1% market share, which is a record for August and the largest since December last year. Plug-in hybrids have now captured a market share of 7.7% of newly registered vehicles, an enormous increase of 70.0%. The volumes of hybrids remained relatively steady, accounting for 10.0% of the market with a 6.8% rise. Market Drivers (Government Regulations and Incentives Drive Electric the Demand for Electric Vehicle Motor) Numerous governments are implementing stricter pollution regulations and financial incentives worldwide to encourage the use of electric vehicles. This directly impacts the demand for the electric motors used in EVs. Several nations have implemented financial incentives to promote the use of electric vehicles. These incentives frequently include tax breaks, manufacturer and consumer subsidies, and refunds. For example, the federal government of the United States provides a tax credit of up to $7,500 for the purchase of electric automobiles. Many municipal and state governments also offer additional incentives. The Fit for 55 package's goal of decreasing emissions in the EU by at least 55% by 2030 has made significant headway toward adopting legislation throughout the past year. The European Union established new CO2 limits for vehicles and vans in March 2023. These rules call for a 55% and 50% decrease in new car and van emissions by 2030 (relative to 2021) and a 100% reduction by 2035. In order to achieve zero-emission propulsion, electric motors and the ecosystem they support are expected to be crucial, and they are expected to increase rapidly over the next ten years. In the ensuing eight to ten years, a significant transformation in the electric motor is anticipated. Numerous nations have made bold announcements regarding the complete phase-out of internal combustion engine cars. For instance, the UK wants to outlaw the sale of brand-new gasoline and diesel vehicles, including vans, by 2030. These kinds of programs support the gradual transition to electric vehicles and, as a result, raise the need for electric motors. Bridging the Gap: Infrastructure Expansion Unlocks Electric Vehicle Motor Growth The development and enhancement of the infrastructure for charging electric vehicles is crucial in increasing consumer trust in the adoption of these vehicles. Electric motors for EVs are expected to become increasingly in demand as charging infrastructure spreads. Expanding the infrastructure for charging electric vehicles is essential to their broad adoption. Various stakeholders, including governments and commercial corporations, have been investing in the global expansion of the charging network. The International Energy Agency (IEA) reports a global increase in public charging stations. According to the IEA globally, there were 2.7 million public charging stations by the end of 2022, with over 900,000 of those being added in 2022—roughly a 55% increase over the stock in 2021 and comparable to the 50% pre-pandemic growth rate between 2015 and 2019. Restraints (Beyond the Buzz: Electric Cars Still Grapple with Price and Charging Challenges) High Initial Cost: The high initial cost is one of the major drawbacks of electric vehicles. They are typically more expensive because EVs require more expensive battery technology than their ICE counterparts. Longer Charging Time: Electric car performance and practicality are largely dependent on battery technology. Even with significant improvements, there are still major drawbacks with current battery technology. Furthermore, battery charging takes a lot longer than refueling an internal combustion engine vehicle. These limitations make it difficult to attain equal levels of convenience and adaptability. Powering a Cleaner Future: Environmental Concerns Electrify the Transportation Industry (Opportunity) The rising awareness of environmental concerns, coupled with the government's efforts to reduce emissions and the consumer's inclination towards sustainable mobility, is fueling the demand for electric vehicles on a global scale. Consequently, the market for electric vehicle motors is expanding, catering to the surge in demand. More than 10 Mn electric vehicles were sold globally in 2022, according to the most recent edition of the IEA's annual Global Electric Vehicle Outlook. In 2023, sales increased by another 35% to reach 14 million. IEA predicts that electric cars will account for 18% of the overall auto market in 2023 due to their rapid development, up from 4% in 2020 and 14% in 2022. According to projections from Kelley Blue Book, a Cox Automotive business, 1.2 million U.S. car purchasers decided to purchase an electric vehicle last year, setting a new record. According to Kelley Blue Book, electric vehicles made up 7.6% of the US auto market in 2023, up from 5.9% in 2022. Thus, the rising sales and adoption of electric vehicles will open up new growth prospects in the future. Under the Hood of Innovation: Unveiling the Segmented EV Motor Market The market for EV motors is segmented on the basis of product, power, EV type, application, and region. By Product Alternate Current(AC) Permanent Magnet Synchronous Motor (PMSM) Three Phase AC Induction Motors Switched Reluctance Motors (SRM) Direct Current(DC) Brushed DC motors(BDC) Brushless DC motors(BLDC) Switched Reluctance Motors (SRM) By Power Up to 200kW 201-400kW Above 400kW By EV Type BEV PHEV HEV By Application Passenger Vehicle Sedan Hatchback SUV (Sports Utility Vehicle) Crossover Coupe Convertible Minivan By Commercial Vehicle Pickup Truck Cargo Van Passenger Van Bus A Regional Breakdown of the EV Motor Market North America • USA • Canada Asia Pacific • China • India • Japan • South Korea • Australia • Rest of APAC Europe • France • UK • Germany • Spain • Italy • Rest of Europe Cost, Power, and Reliability: AC Motors Offer Optimal Performance for EVs On the basis of Product, the market is ramified into Alternate Current (AC) & Direct Current (DC). Alternate Current covers nearly 76.23% of the market. Electric cars traditionally use AC motors, specifically induction motors, due to their affordability, reliability, and ease of use. AC induction motors are the optimal choice for electric vehicles because of their simplicity, reliability, low maintenance, and cost-effectiveness. They can be utilized in a variety of vehicles and provide a balance between cost, utility, efficiency, and power density, making them the preferred option for EVs. However, compared to DC motors, AC motors often require more sophisticated control systems. The Future is Electric: Surging BEV Sales Power Electric Motor Market In terms of EV Type, the market has been divided into BEV, PHEV, and HEV. "BEV" segment led the market comprehensively in 2022 with a share of 41.18%. One of the essential component of BEV is electric motor, which converts electrical energy stored into the battery into mechanical energy that drives the wheels of the vehicle. One type of motor that is gaining popularity in BEV is three-phase motor. Battery Electric Vehicles (BEVs) are a type of electric vehicle that relies solely on rechargeable batteries for power and does not have gasoline (IC) engines, making it one of the simplest types of EVs available. These cars are promoted as having zero emissions, which makes them an attractive option for environmentally-conscious consumers who are concerned about air pollution. In the second quarter of 2023, sales of BEVs increased by over 50% YoY. Electric Passenger Cars: Powering the Growth of the EV Motor Market In terms of Applications, the market has been divided into Passenger Vehicles and commercial Vehicles. Passenger Vehicle segment led the market comprehensively in 2022 with a share of 85.11%. Global sales of passenger cars reached 57.5 million in 2022, an increase of almost 1.9 percent over the previous year. In 2022, China emerged as the world's largest automotive regional market, with approximately 23.6 million vehicles sold. Compact SUVs are leading the way among passenger cars, thanks to their popularity, good space balance, maneuverability, and efficiency, especially with EVs. They are currently the top choice in the EV motor market for passenger cars. Powerhouse for Electric Vehicle Motors: Asia Pacific Leads the Charge with 49.37% revenue share Based on the Geographical outlook, APAC spearheaded the market growth comprehensively, with an overall share of around 49.37% in 2022. Electric cars, or EVs, are quickly gaining traction as a common mode of transportation. Asia is currently at the forefront of the global trend towards electric vehicles (EVs), with China alone accounting for over 65% of all EV sales in 2022. In the same year, China became the world's largest regional market for automobiles, with approximately 23.6 million units sold. Despite being the largest emitter of greenhouse gases, China leads the global EV market as a means of combating this issue. Since 2009, government incentives have been in place to promote EV manufacture domestically, and they have shown to be successful in increasing EV usage. The growing EV market will significantly boost the demand for EV motors in Asia Pacific. Europe, held an overall share of around 29.45% in 2022. Germany dominated the market with an overall share of 28.23%. The increasing sales of electric vehicles throughout Europe, especially in countries like Germany, directly result in a rising demand for EV motors. Stricter emission regulations and government incentives for EVs are further driving the market. Public environmental awareness is also increasing consumer interest in electric vehicles and, as a result, EV motors. North America held a total share of almost 18.13% in 2022. USA comprehensively led the market in North America with an overall share of 91.32%. North America's EV motor market is gaining traction due to increasing sales of electric vehicles, government incentives, stricter emissions regulations, and growing public interest in eco-friendly vehicles. The EV market in North America is expected to be worth USD 91.5 billion in 2024. Revving Up the Race: Key Players in the EV Motor Market Time High-Tech Co. Ltd. Shenzhen V&T Technologies Co. Ltd. Kelly Controls LLC BYD Shanghai E-drive Co. Ltd. Zhuhai Enpower Electric Co. Ltd. DEC Dongfeng Electric Machinery Co. Ltd. Delta Electronics Chroma ATE Inc. Fujian Fugong Power Technology Co. Ltd. Nidec (Beijing) Drive Technologies Co. Ltd. Jing-Jin Electric Technologies Co. Ltd. Canadian Electric Vehicles Ltd Hunan CRRC Times Electric Vehicle Co. Ltd. Shenzhen Inovance Technology Co. Ltd. United Automotive Electronic Systems Co. Ltd. (UAES) JEE Automation Equipment Co. Ltd. Zhongshan Broad-Ocean Motor Co. Ltd. Shandong Deyang Electronics Technology Co. Ltd. Beijing Siemens Automotive E-Drive System Co. Ltd. Prestolite E-Propulsion Systems (Beijing) Limited Electric Vehicle Motor Market Report Coverage Report Attribute Details Forecast Period 2023 – 2030 Market Size Value in 2023 USD 6.34 Billion Revenue Forecast in 2030 USD 20.73 Billion Overall Growth Rate CAGR of 18.45% (2023 – 2030) Base Year for Estimation 2022 Historical Data 2017 – 2021 Unit USD Billion, CAGR (2023 – 2030) Segmentation By Product, By Power, By EV Type, By Application, By Geography By Product Alternate Current (AC), Direct Current (DC) By Power Up to 200kW, 201–400kW, Above 400kW By EV Type Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV) By Application Passenger Vehicle, Commercial Vehicle By Region North America, Europe, Asia-Pacific, Latin America, Middle East & Africa Country Scope U.S., China, Germany, Japan, South Korea, India, etc. Market Drivers Growing EV adoption, government incentives, and advancements in motor efficiency Customization Option Available upon request Beyond Magnets: Unveiling the Latest Innovations in the EV Motor Market In November 2023, a Leading sustainable motor manufacturer for the automotive sector, Advanced Electric Machines (AEM), raised £23 million (US$29 million) to support ambitious growth plans to create a global sales footprint, increase R&D capacity, and expand production capacity at its UK Northeast facility. As part of its next phase of strategic growth strategy, AEM plans to increase production capacity at its Northeast location to strengthen its manufacturing skills. Over the next two years, this will result in the creation of 40 new skilled green employment. Through the investment, the firm plans to accelerate the rollout of its state-of-the-art motor solutions and increase its global footprint by building a comprehensive sales and service footprint. In July 2023, Proterial, a Japanese metal manufacturer, created a prototype engine for electric cars that doesn't need neodymium, a rare-earth element in magnets. Nowadays, the most popular kind of magnet used in EV motors is the neodymium magnet. However, since China is the main supplier of this rare earth metal, steady procurement has proven to be problematic. The adoption of high-performance ferrite magnet NMF 15 in prototerial EV motors has the potential to lessen the EV industry's dependency on China. In November 2023, Hyundai Motor Company celebrated the launching of a new electric vehicle (EV) facility at its Ulsan complex, located in the center of Korea's automotive sector. The new EV-focused facility will expand on the vision initially outlined more than 50 years ago by Hyundai Motor's Founding Chairman and created the groundwork for future expansion in the electrification era. A new plant with a capacity to generate 200,000 EVs annually will be located on a 548,000 m2 plot. Frequently Asked Question About This Report How big is the Global EV Motor Market and what is its growth forecast? The Global Electric Vehicle Motor Market will witness a robust CAGR of 18.45%, valued at $5.35 Billion in 2022, expected to appreciate and reach $20.73 billion by 2030. What are the trends in the EV Motor Market? The EV motor market trends include improved efficiency, compact designs, higher power density, integration of advanced electronics, and reduced manufacturing costs. Which product type is leading in Electric Vehicle Motor Market? On the basis of Product, Alternate Current covers nearly 76.23% of the market. Electric cars traditionally use AC motors, specifically induction motors, due to their affordability, reliability, and ease of use. Which application type is leading in Electric Vehicle Motor Market? In terms of Applications, the Passenger Vehicle segment led the market comprehensively in 2022 with a share of 85.11%. The passenger vehicle segment dominates due to high consumer demand, increasing urbanization, government incentives for EV adoption, and advancements in technology making electric passenger cars more accessible and appealing. Which region is leading in Electric Vehicle Motor Market? Based on the Geographical outlook, APAC spearheaded the market growth comprehensively, with an overall share of around 49.37% in 2022. APAC dominates due to large-scale manufacturing capabilities, supportive government policies, significant investments in EV infrastructure, and high demand from populous countries like China and India. Which country is leading in EV Motor Market? China is leading in the EV motor market due to its strong manufacturing base, supportive government policies, and high domestic demand for electric vehicles. Sources: https://www.iea.org/reports/global-ev-outlook-2023 https://www.reuters.com/business/autos-transportation/tesla-plans-rare-earth-free-ev-motors-2023-03-01/ https://www.nytimes.com/2023/04/10/business/energy-environment/electric-vehicles-rare-earth-metals.html https://www.bloomberg.com/news/articles/2023-06-20/ev-motor-makers-race-to-cut-reliance-on-rare-earth-metals https://www.wsj.com/articles/automakers-push-to-develop-rare-earth-free-ev-motors-11686812345 https://www.cnbc.com/2023/07/12/ev-sales-surge-boosting-demand-for-electric-motors.html https://www.theguardian.com/environment/2023/jul/18/electric-vehicle-sales-uk-2023 https://www.scientificamerican.com/article/rare-earth-free-electric-motors-could-make-evs-more-sustainable/ https://www.forbes.com/sites/davidblackmon/2023/05/15/the-ev-transition-rare-earth-metals-and-supply-chain-challenges/ https://www.economist.com/business/2023/10/05/how-ev-motor-makers-are-innovating-to-reduce-rare-earth-dependence Table of Contents 1. EXECUTIVE SUMMARY 1.1. Market Attractiveness 1.2. Understanding the Target Customers 1.3. CXO perspective 1.4. Global Electric Vehicle Motor Market, Historical Market Size & Future Projections Analysis 1.5. Global Electric Vehicle Motor Market, By Product 1.6. Global Electric Vehicle Motor Market, By Power 1.7. Global Electric Vehicle Motor Market, By EV Type 1.8. Global Electric Vehicle Motor Market, By Application 1.9. Global Electric Vehicle Motor Market, By Country 2. MARKET SHARE ANALYSIS 2.1. Top 10 Players with Revenue and Sales Volume 2.2. Market Share, 2022 3. SALES VOLUME (UNITS), NUMBER OF DEPLOYMENTS (UNITS), BY COUNTRY 3.1. North America (United States, Canada) 3.2. Europe (UK, Germany, France, Netherlands, Italy, Spain, Benelux, Rest of Europe) 3.3. Asia Pacific (China, Japan, South Korea, India, Australia, Rest of APAC) 3.4. Rest of the World 4. INVESTMENT OPPORTUNITIES IN THE MARKET 4.1. On Going Market Developments 4.2. Merger & Acquisition Trends 4.3. Key Investment Opportunities 4.4. Most Potential Product Segments from Growth and Investment Perspective 5. MARKET INTRODUCTION 5.1. Definition 5.2. Scope of the Study 5.3. Market Structure 5.4. Macro Factor Indicator Analysis 5.5. Key findings 5.5.1. Top investment pockets 6. RESEARCH METHODOLOGY 6.1. Research Process 6.2. Primary Research 6.3. Secondary Research 6.4. Market Size Estimation 6.5. Forecast Model 7. MARKET DYNAMICS 7.1. Introduction 7.2. Drivers 7.3. Restraints 7.4. Opportunities 7.5. Challenges 8. GLOBAL ELECTRIC VEHICLE MOTOR MARKET ANALYSIS BY SEGMENT (COUNTRY LEVEL ANALYSIS) 8.1. Overview 8.2. Global Electric Vehicle Motor Historical Market size ($BILLION), Sales Volume, (2017 – 2021) 8.3. Global Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027) 8.4. Global Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Product 8.4.1. Alternate Current (AC) 8.4.1.1. Permanent Magnet Synchronous Motor (PMSM) 8.4.1.2. Three Phase AC Induction Motors 8.4.1.3. Switched Reluctance Motors (SRM) 8.4.2. Direct Current(DC) 8.4.2.1. Brushed DC motors(BDC) 8.4.2.2. Electric Vehicle Motors(BLDC) 8.4.2.2.1. Out-runner type BLDC Motor 8.4.2.2.2. In-runner type BLDC Motor 8.4.2.3. Switched Reluctance Motors (SRM) 8.5. Global Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Power 8.5.1. Up to 200kW 8.5.2. 201-400kW 8.5.3. Above 400kW 8.6. Global Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By EV Type 8.6.1. BEV 8.6.2. PHEV 8.6.3. HEV 8.7. Global Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Application 8.7.1. Passenger Vehicle 8.7.1.1. Sedan 8.7.1.2. Hatchback 8.7.1.3. SUV (Sports Utility Vehicle) 8.7.1.4. Crossover 8.7.1.5. Coupe 8.7.1.6. Convertible 8.7.1.7. Minivan 8.7.1.8. Station Wagon 8.7.2. Commercial Vehicle 8.7.2.1. Pickup Truck 8.7.2.2. Cargo Van 8.7.2.3. Passenger Van 8.7.2.4. Bus 8.8. Global Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Geography 8.8.1. North America 8.8.2. Asia Pacific 8.8.3. Europe 8.8.4. Rest of the World 9. NORTH AMERICA ELECTRIC VEHICLE MOTOR MARKET ANALYSIS 9.1. Overview 9.2. North America Electric Vehicle Motor Historical Market size ($BILLION), Sales Volume, (2017 – 2021) 9.3. North America Electric Vehicle Motor Market size ($BILLION), Sales Volume and Forecasts (2022 – 2027) 9.4. North America Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Product 9.4.1. Alternate Current (AC) 9.4.1.1. Permanent Magnet Synchronous Motor (PMSM) 9.4.1.2. Three Phase AC Induction Motors 9.4.1.3. Switched Reluctance Motors (SRM) 9.4.2. Direct Current(DC) 9.4.2.1. Brushed DC motors(BDC) 9.4.2.2. Electric Vehicle Motors(BLDC) 9.4.2.2.1. Out-runner type BLDC Motor 9.4.2.2.2. In-runner type BLDC Motor 9.4.2.3. Switched Reluctance Motors (SRM) 9.5. North America Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Power 9.5.1. Up to 200kW 9.5.2. 201-400kW 9.5.3. Above 400kW 9.6. North America Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By EV Type 9.6.1. BEV 9.6.2. PHEV 9.6.3. HEV 9.7. North America Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Application 9.7.1. Passenger Vehicle 9.7.1.1. Sedan 9.7.1.2. Hatchback 9.7.1.3. SUV (Sports Utility Vehicle) 9.7.1.4. Crossover 9.7.1.5. Coupe 9.7.1.6. Convertible 9.7.1.7. Minivan 9.7.1.8. Station Wagon 9.7.2. Commercial Vehicle 9.7.2.1. Pickup Truck 9.7.2.2. Cargo Van 9.7.2.3. Passenger Van 9.7.2.4. Bus 9.8. North America Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Geography 9.8.1. USA 9.8.1.1. California 9.8.1.2. Texas 9.8.1.3. Florida 9.8.1.4. Pennsylvania 9.8.1.5. Illinois 9.8.1.6. North Carolina 9.8.1.7. Rest of the U.S. 9.8.2. Canada 9.8.3. Rest of North America 10. EUROPE ELECTRIC VEHICLE MOTOR MARKET ANALYSIS 10.1. Overview 10.2. Europe Electric Vehicle Motor Historical Market size ($BILLION), Sales Volume, (2017 – 2021) 10.3. Europe Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027) 10.4. Europe Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Product 10.4.1. Alternate Current (AC) 10.4.1.1. Permanent Magnet Synchronous Motor (PMSM) 10.4.1.2. Three Phase AC Induction Motors 10.4.1.3. Switched Reluctance Motors (SRM) 10.4.2. Direct Current(DC) 10.4.2.1. Brushed DC motors(BDC) 10.4.2.2. Electric Vehicle Motors(BLDC) 10.4.2.2.1. Out-runner type BLDC Motor 10.4.2.2.2. In-runner type BLDC Motor 10.4.2.3. Switched Reluctance Motors (SRM) 10.5. Europe Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Power 10.5.1. Up to 200kW 10.5.2. 201-400kW 10.5.3. Above 400kW 10.6. Europe Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By EV Type 10.6.1. BEV 10.6.2. PHEV 10.6.3. HEV 10.7. Europe Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Application 10.7.1. Passenger Vehicle 10.7.1.1. Sedan 10.7.1.2. Hatchback 10.7.1.3. SUV (Sports Utility Vehicle) 10.7.1.4. Crossover 10.7.1.5. Coupe 10.7.1.6. Convertible 10.7.1.7. Minivan 10.7.1.8. Station Wagon 10.7.2. Commercial Vehicle 10.7.2.1. Pickup Truck 10.7.2.2. Cargo Van 10.7.2.3. Passenger Van 10.7.2.4. Bus 10.8. Europe Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Country 10.8.1. Germany 10.8.2. UK 10.8.3. France 10.8.4. Spain 10.8.5. Italy 10.8.6. Benelux 10.8.7. Rest of Europe 11. ASIA PACIFIC ELECTRIC VEHICLE MOTOR MARKET ANALYSIS 11.1. Overview 11.2. Asia Pacific Electric Vehicle Motor Historical Market size ($BILLION), Sales Volume, (2017 – 2021) 11.3. Asia Pacific Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027) 11.4. Asia Pacific Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Product 11.4.1. Alternate Current (AC) 11.4.1.1. Permanent Magnet Synchronous Motor (PMSM) 11.4.1.2. Three Phase AC Induction Motors 11.4.1.3. Switched Reluctance Motors (SRM) 11.4.2. Direct Current(DC) 11.4.2.1. Brushed DC motors(BDC) 11.4.2.2. Electric Vehicle Motors(BLDC) 11.4.2.2.1. Out-runner type BLDC Motor 11.4.2.2.2. In-runner type BLDC Motor 11.4.2.3. Switched Reluctance Motors (SRM) 11.5. Asia Pacific Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Power 11.5.1. Up to 200kW 11.5.2. 201-400kW 11.5.3. Above 400kW 11.6. Asia Pacific Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By EV Type 11.6.1. BEV 11.6.2. PHEV 11.6.3. HEV 11.7. Asia Pacific Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Application 11.7.1. Passenger Vehicle 11.7.1.1. Sedan 11.7.1.2. Hatchback 11.7.1.3. SUV (Sports Utility Vehicle) 11.7.1.4. Crossover 11.7.1.5. Coupe 11.7.1.6. Convertible 11.7.1.7. Minivan 11.7.1.8. Station Wagon 11.7.2. Commercial Vehicle 11.7.2.1. Pickup Truck 11.7.2.2. Cargo Van 11.7.2.3. Passenger Van 11.7.2.4. Bus 11.8. Asia Pacific Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Country 11.8.1. China 11.8.2. Japan 11.8.3. Korea 11.8.4. India 11.8.5. Australia 11.8.6. Rest of APAC 12. REST OF THE WORLD ELECTRIC VEHICLE MOTOR MARKET ANALYSIS 12.1. Overview 12.2. Rest of the World Electric Vehicle Motor Market Historical Market size ($BILLION), Sales Volume, (2017 – 2021) 12.3. Rest of the World Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027) 12.4. Rest of the World Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Product 12.4.1. Alternate Current (AC) 12.4.1.1. Permanent Magnet Synchronous Motor (PMSM) 12.4.1.2. Three Phase AC Induction Motors 12.4.1.3. Switched Reluctance Motors (SRM) 12.4.2. Direct Current(DC) 12.4.2.1. Brushed DC motors(BDC) 12.4.2.2. Electric Vehicle Motors(BLDC) 12.4.2.2.1. Out-runner type BLDC Motor 12.4.2.2.2. In-runner type BLDC Motor 12.4.2.3. Switched Reluctance Motors (SRM) 12.5. Rest of the World Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Power 12.5.1. Up to 200kW 12.5.2. 201-400kW 12.5.3. Above 400kW 12.6. Rest of the World Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By EV Type 12.6.1. BEV 12.6.2. PHEV 12.6.3. HEV 12.7. Rest of the World Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Application 12.7.1. Passenger Vehicle 12.7.1.1. Sedan 12.7.1.2. Hatchback 12.7.1.3. SUV (Sports Utility Vehicle) 12.7.1.4. Crossover 12.7.1.5. Coupe 12.7.1.6. Convertible 12.7.1.7. Minivan 12.7.1.8. Station Wagon 12.7.2. Commercial Vehicle 12.7.2.1. Pickup Truck 12.7.2.2. Cargo Van 12.7.2.3. Passenger Van 12.7.2.4. Bus 12.8. Rest of the World Electric Vehicle Motor Market size ($BILLION), Sales Volume, and Forecasts (2022 – 2027), By Country 12.8.1. Latin America 12.8.2. Middle East 12.8.3. Africa 13. COMPANY PROFILES 13.1. MERITOR, INC. 13.1.1. Company Overview 13.1.2. Company Snapshot 13.1.3. Operating business segments 13.1.4. Product offered and Revenue from Electric Vehicle Motor Business 13.1.5. Key business performances, strategies and developments 13.2. MITSUBA CORPORATION 13.2.1. Company Overview 13.2.2. Company Snapshot 13.2.3. Operating business segments 13.2.4. Product offered and Revenue from Electric Vehicle Motor Business 13.2.5. Key business performances, strategies and developments 13.3. JOHNSON ELECTRIC HOLDINGS LIMITED 13.3.1. Company Overview 13.3.2. Company Snapshot 13.3.3. Operating business segments 13.3.4. Product offered and Revenue from Electric Vehicle Motor Business 13.3.5. Key business performances, strategies and developments 13.4. BUHLER MOTOR GMBH 13.4.1. Company Overview 13.4.2. Company Snapshot 13.4.3. Operating business segments 13.4.4. Product offered and Revenue from Electric Vehicle Motor Business 13.4.5. Key business performances, strategies and developments 13.5. NIDEC CORPORATION 13.5.1. Company Overview 13.5.2. Company Snapshot 13.5.3. Operating business segments 13.5.4. Product offered and Revenue from Electric Vehicle Motor Business 13.5.5. Key business performances, strategies and developments 13.6. MAGNA INTERNATIONAL INC. 13.6.1. Company Overview 13.6.2. Company Snapshot 13.6.3. Operating business segments 13.6.4. Product offered and Revenue from Electric Vehicle Motor Business 13.6.5. Key business performances, strategies and developments 13.7. DENSO CORPORATION 13.7.1. Company Overview 13.7.2. Company Snapshot 13.7.3. Operating business segments 13.7.4. Product offered and Revenue from Electric Vehicle Motor Business 13.7.5. Key business performances, strategies and developments 13.8. ROBERT BOSCH GMBH 13.8.1. Company Overview 13.8.2. Company Snapshot 13.8.3. Operating business segments 13.8.4. Product offered and Revenue from Electric Vehicle Motor Business 13.8.5. Key business performances, strategies and developments 13.9. MABUCHI MOTOR CO.LTD 13.9.1. Company Overview 13.9.2. Company Snapshot 13.9.3. Operating business segments 13.9.4. Product offered and Revenue from Electric Vehicle Motor Business 13.9.5. Key business performances, strategies and developments 13.10. INTEVA PRODUCTS 13.10.1. Company Overview 13.10.2. Company Snapshot 13.10.3. Operating business segments 13.10.4. Product offered and Revenue from Electric Vehicle Motor Business 13.10.5. Key business performances, strategies and developments 13.11. BORGWARNER INC. 13.11.1. Company Overview 13.11.2. Company Snapshot 13.11.3. Operating business segments 13.11.4. Product offered and Revenue from Electric Vehicle Motor Business 13.11.5. Key business performances, strategies and developments 13.12. CONTINENTAL AG 13.12.1. Company Overview 13.12.2. Company Snapshot 13.12.3. Operating business segments 13.12.4. Product offered and Revenue from Electric Vehicle Motor Business 13.12.5. Key business performances, strategies and developments 13.13. OTHER COMPANIES 13.13.1. Company Overview 13.13.2. Company Snapshot 13.13.3. Operating business segments 13.13.4. Product offered and Revenue from Electric Vehicle Motor Business 13.13.5. Key business performances, strategies and developments LIST OF TABLES 1. TABLE: MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 2. TABLE: MARKET FOR AC, BY REGION, 2022-2027 (USD MILLION) 3. TABLE: MARKET FOR DC, BY REGION, 2022-2027 (USD MILLION) 4. TABLE: MARKET, BY POWER, 2022-2027 (USD MILLION) 5. TABLE: MARKET FOR UP TO 200KW, BY REGION, 2022-2027 (USD MILLION) 6. TABLE: MARKET FOR 201-400KW, BY REGION, 2022-2027 (USD MILLION) 7. TABLE: MARKET FOR ABOVE 400KW, BY REGION, 2022-2027 (USD MILLION) 8. TABLE: MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 9. TABLE: MARKET FOR BEV, BY REGION, 2022-2027 (USD MILLION) 10. TABLE: MARKET FOR PHEV, BY REGION, 2022-2027 (USD MILLION) 11. TABLE: MARKET FOR HEV, BY REGION, 2022-2027 (USD MILLION) 12. TABLE: MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 13. TABLE: MARKET FOR PASSENGER VEHICLE, BY REGION, 2022-2027 (USD MILLION) 14. TABLE: MARKET FOR COMMERCIAL VEHICLE, BY REGION, 2022-2027 (USD MILLION) 15. TABLE: MARKET, BY REGION, 2022-2027 (USD MILLION) 16. TABLE: NORTH AMERICA MARKET, BY COUNTRY, 2022-2027 (USD MILLION) 17. TABLE: NORTH AMERICA MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 18. TABLE: NORTH AMERICA MARKET, BY POWER, 2022-2027 (USD MILLION) 19. TABLE: NORTH AMERICA MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 20. TABLE: NORTH AMERICA MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 21. TABLE: USA MARKET BY PRODUCT, 2022-2027 (USD MILLION) 22. TABLE: USA MARKET, BY POWER, 2022-2027 (USD MILLION) 23. TABLE: USA MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 24. TABLE: USA MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 25. TABLE: CALIFORNIA MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 26. TABLE: CALIFORNIA MARKET, BY POWER, 2022-2027 (USD MILLION) 27. TABLE: CALIFORNIA MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 28. TABLE: CALIFORNIA MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 29. TABLE: TEXAS MARKET BY PRODUCT, 2022-2027 (USD MILLION) 30. TABLE: TEXAS MARKET, BY POWER, 2022-2027 (USD MILLION) 31. TABLE: TEXAS MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 32. TABLE: TEXAS MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 33. FLORIDA MARKET BY PRODUCT, 2022-2027 (USD MILLION) 34. FLORIDA MARKET, BY POWER, 2022-2027 (USD MILLION) 35. TABLE: FLORIDA MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 36. TABLE: FLORIDA MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 37. TABLE: CANADA MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 38. TABLE: CANADA MARKET, BY POWER, 2022-2027 (USD MILLION) 39. TABLE: CANADA MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 40. TABLE: CANADA MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 41. TABLE: MEXICO MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 42. TABLE: MEXICO MARKET, BY POWER, 2022-2027 (USD MILLION) 43. TABLE: MEXICO MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 44. TABLE: MEXICO MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 45. TABLE: REST OF NORTH AMERICA MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 46. TABLE: REST OF NORTH AMERICA MARKET, BY POWER, 2022-2027 (USD MILLION) 47. TABLE: REST OF NORTH AMERICA MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 48. TABLE: REST OF NORTH AMERICA MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 49. TABLE: EUROPE MARKET, BY COUNTRY, 2022-2027 (USD MILLION) 50. TABLE: EUROPE MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 51. TABLE: EUROPE MARKET, BY POWER, 2022-2027 (USD MILLION) 52. TABLE: EUROPE MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 53. TABLE: EUROPE MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 54. TABLE: GERMANY MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 55. TABLE: GERMANY MARKET, BY POWER, 2022-2027 (USD MILLION) 56. TABLE: GERMANY MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 57. TABLE: GERMANY MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 58. TABLE: FRANCE MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 59. TABLE: FRANCE MARKET, BY POWER, 2022-2027 (USD MILLION) 60. TABLE: FRANCE MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 61. TABLE: FRANCE MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 62. TABLE: UK MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 63. TABLE: UK MARKET, BY POWER, 2022-2027 (USD MILLION) 64. UK MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 65. UK MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 66. TABLE: ITALY MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 67. TABLE: ITALY MARKET, BY POWER, 2022-2027 (USD MILLION) 68. TABLE: ITALY MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 69. TABLE: ITALY MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 70. TABLE: SPAIN MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 71. TABLE: SPAIN MARKET, BY POWER, 2022-2027 (USD MILLION) 72. TABLE: SPAIN MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 73. TABLE: SPAIN MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 74. TABLE: REST OF EUROPE MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 75. TABLE: REST OF EUROPE MARKET, BY POWER, 2022-2027 (USD MILLION) 76. TABLE: REST OF EUROPE MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 77. TABLE: REST OF EUROPE MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 78. TABLE: ASIA PACIFIC MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 79. TABLE: ASIA PACIFIC MARKET, BY POWER, 2022-2027 (USD MILLION) 80. TABLE: ASIA PACIFIC MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 81. TABLE: ASIA PACIFIC MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 82. TABLE: CHINA MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 83. TABLE: CHINA MARKET, BY POWER, 2022-2027 (USD MILLION) 84. TABLE: CHINA MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 85. TABLE: CHINA MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 86. TABLE: INDIA MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 87. TABLE: INDIA MARKET, BY POWER, 2022-2027 (USD MILLION) 88. TABLE: INDIA MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 89. TABLE: INDIA MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 90. TABLE: JAPAN MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 91. TABLE: JAPAN MARKET, BY POWER, 2022-2027 (USD MILLION) 92. TABLE: JAPAN MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 93. TABLE: JAPAN MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 94. TABLE: KOREA MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 95. TABLE: KOREA MARKET, BY POWER, 2022-2027 (USD MILLION) 96. KOREA MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 97. KOREA MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 98. TABLE: AUSTRALIA MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 99. TABLE: AUSTRALIA MARKET, BY POWER, 2022-2027 (USD MILLION) 100. TABLE: AUSTRALIA MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 101. TABLE: AUSTRALIA MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 102. TABLE: REST OF ASIA PACIFIC MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 103. TABLE: REST OF ASIA PACIFIC MARKET, BY POWER, 2022-2027 (USD MILLION) 104. TABLE: REST OF ASIA PACIFIC MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 105. TABLE: REST OF ASIA PACIFIC MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 106. TABLE: REST OF THE WORLD MARKET, BY PRODUCT, 2022-2027 (USD MILLION) 107. TABLE: REST OF THE WORLD MARKET, BY POWER, 2022-2027 (USD MILLION) 108. TABLE: REST OF THE WORLD MARKET, BY EV TYPE, 2022-2027 (USD MILLION) 109. TABLE: REST OF THE WORLD MARKET, BY APPLICATION, 2022-2027 (USD MILLION) 110. TABLE: MITSUBA CORPORATION: COMPANY SNAPSHOT 111. TABLE: MITSUBA CORPORATION: OPERATING SEGMENTS 112. TABLE: JOHNSON ELECTRIC HOLDINGS LIMITED: COMPANY SNAPSHOT 113. TABLE: JOHNSON ELECTRIC HOLDINGS LIMITED: OPERATING SEGMENTS 114. TABLE: BUHLER MOTOR GMBH: COMPANY SNAPSHOT 115. TABLE: BUHLER MOTOR GMBH: OPERATING SEGMENTS 116. TABLE: MERITOR, INC. COMPANY SNAPSHOT 117. TABLE: MERITOR, INC. OPERATING SEGMENTS 118. TABLE: NIDEC CORPORATION: COMPANY SNAPSHOT 119. TABLE: NIDEC CORPORATION: OPERATING SEGMENTS 120. TABLE: MAGNA INTERNATIONAL INC.: COMPANY SNAPSHOT 121. TABLE: MAGNA INTERNATIONAL INC.: OPERATING SEGMENTS 122. TABLE: DENSO CORPORATION: COMPANY SNAPSHOT 123. TABLE: DENSO CORPORATION: OPERATING SEGMENTS 124. TABLE: ROBERT BOSCH GMBH: COMPANY SNAPSHOT 125. TABLE: ROBERT BOSCH GMBH: OPERATING SEGMENTS 126. TABLE: MABUCHI MOTOR CO.LTD: COMPANY SNAPSHOT 127. TABLE: MABUCHI MOTOR CO.LTD: OPERATING SEGMENTS 128. TABLE: INTEVA PRODUCTS: COMPANY SNAPSHOT 129. TABLE: INTEVA PRODUCTS: OPERATING SEGMENTS LIST OF FIGURES 1. Figure: Market: Research Methodology Steps 2. Figure: Research Design 3. Figure: Breakdown of Primaries: Market 4. Figure: Research Methodology: Hypothesis Building 5. Figure: Growth Strategies Adopted By the Key Players 6. Figure: Data Triangulation Methodology 7. Figure: Dominating Market Share, By Product, 2022 vs. 2027 (USD MILLION) 8. Figure: Dominating Market Share, By Power, 2022 vs. 2027 (USD MILLION) 9. Figure: Dominating Market Share, By EV Type, 2022 vs. 2027 (USD MILLION) 10. Figure: Dominating Market Share, By Application, 2022 vs. 2027 (USD MILLION) 11. Figure: Geographical Snapshot of the Market 12. Figure: BEV to Witness Higher CAGR in the Market for EV Type Segment during the Forecast Period. 13. Figure: APAC Accounted for the Largest Share of the Market, By Regional Basis, in 2022 14. Figure: Market: Drivers, Restraints, Opportunities, and Challenges 15. Figure: North America: Market Snapshot 16. Figure: Asia Pacific: Market Snapshot 17. Figure: Europe: Market Snapshot 18. Figure: Rest of the World: Market Snapshot 19. Figure: Vendor Dive: Evaluation Overview 20. Figure: Global Electric Vehicle Motor Market: Competitive Benchmarking 21. Figure: Mitsuba Corporation: Financial Overview (2022-2027) 22. Figure: Johnson Electric Holdings Limited: Financial Overview (2022-2027) 23. Figure: Buhler Motor GmbH: Financial Overview (2022-2027) 24. Figure: Meritor, Inc. Financial Overview (2022-2027) 25. Figure: NIDEC CORPORATION: Financial Overview (2022-2027) 26. Figure: Magna International Inc.: Financial Overview (2022-2027) 27. Figure: Denso Corporation: Financial Overview (2022-2027) 28. Figure: Robert Bosch GmbH: Financial Overview (2022-2027) 29. Figure: Mabuchi Motor Co.Ltd: Financial Overview (2022-2027) 30. Figure: Inteva Products: Financial Overview (2022-2027)