Electric Vehicle Motor Market Forecast 2030: Key Players and Emerging Trends
Future of Electric Vehicle Motor Market: Key Dynamics, Size & Share Analysis
The Global Electric Vehicle Motor Market size was valued at around USD 46 billion in 2024 and is projected to reach USD 120 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 17% during the forecast period, i.e., 2025-30. Various factors that drive the growth of this market include, rising investments in EV infrastructure, government schemes facilitating EV adoption, and strict CO2 emission standards laid by various agencies for automobile manufacturers around the world. Some of the mandates that are laid by various countries include the European Union’s CO2 emission regulation for cars, China’s New Electric Vehicle Mandate, and California’s Zero-Emission Vehicle (ZEV) mandate, which strive to lower greenhouse gas emissions like reducing CO2 emissions from vehicles to achieve net zero emissions by 2050.
Top Challenges Impacting the Electric Vehicle Motor Market Growth
Performance Limitations in Extreme Weather Conditions – The global market for electric vehicle (EV) motors is severely hampered by performance limitations in severe weather. Cold temperatures can cut an EVs range by as much as 40% because they increase battery resistance and increase the amount of energy needed for cabin heating. Also, overheating batteries reduce power output in hot climates like Arizona making thermal management systems more labor-intensive. Weather extremes also affect motor efficiency. High temperatures can demagnetize permanent magnet motors while cold temperatures reduce the efficiency of induction motors. Although automakers are tackling these issues with more sophisticated heating and cooling systems, harsh weather still affects EV performance, which prevents widespread adoption in some areas.
Understanding the Core Segments in the Electric Vehicle Motor Market
Electric Vehicle Motor Market Size, Share & Industry Trends Analysis- By Vehicle Type (Electric Passenger Cars, [Sedan, Hatchback, SUV], Electric Commercial Vehicles, [Electric Light Commercial Vehicles, Electric Medium & Heavy Commercial Vehicles], Electric Two Wheelers, [Electric Scooters, Electric Motorcycles], Electric three-wheelers), By Type (AC Motor, DC Motor), By Motor Type (Brushless Motors, Brushed Motors, Induction (Asynchronous) Motors, Switched Reluctance Motors, Synchronous Motors), By Component (Motor Stator, Rotor, Shaft, and Bearing, Permanent Magnet, Casing, Wiring & Connectors, Others), By Power Rating (Up to 20 kW, 21 kW to 100 kW, 101 kW to 250 kW, Above 250 kW) and others.
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Geographical Analysis of the Electric Vehicle Motor Market
- North America
- South America
- Europe
- The Middle East and Africa
- Asia-Pacific
With approximately 60% of the worldwide market, the Asia-Pacific region leads the electric car motor industry.
Who Dominates the Electric Vehicle Motor Market Insights on Key Industry Players?
Companies are strengthening their presence in the consumer electronics market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.d
- Siemens AG
- ABB Ltd.
- Nidec Corporation
- Mitsubishi Electric Corporation
- Robert Bosch GmbH
- BorgWarner Inc.
- Continental AG
- Magna International Inc.
- Hitachi, Ltd.
- AISIN CORPORATION
- LG Magna e-Powertrain Co., Ltd.
- Johnson Electric Holdings Limited
- Toshiba Corporation
- GKN Automotive
- Allied Motion Technologies Inc. and others.
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MarkNtel Advisors is a leading Market Research Company and Industry Research Report Firm offering end-to-end intelligence across the automotive sector, including automobiles, electric vehicles, autonomous driving, and automotive components & electronics. Our extensive portfolio of Syndicated Research Reports and Customized Market Research Reports delivers global, regional, and country-level insights that help manufacturers, suppliers, and investors navigate evolving emission standards, technological disruptions, and changing consumer mobility trends. Built on robust data analytics, primary interviews, and Export and Import Data, our research provides actionable Market Forecasts and Revenue Impact Assessments. Clients leverage our intelligence for business analysis, competitive benchmarking, and go-to-market planning. Through our specialized Consulting Services, MarkNtel Advisors empowers automotive stakeholders to translate insight into strategy, ensuring agility, innovation, and profitable growth in a transforming global mobility landscape.
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