Electric Vehicle Motor Market
Electric Vehicle Motor Market Forecasts to 2032 – Global Analysis By Motor Type (Permanent Magnet Synchronous Motor (PMSM), AC Induction Motor (ACIM), Brushless DC Motor (BLDC), Electrically Excited Synchronous Motor (EESM) / Wound Rotor Synchronous Motor (WRSM), and Other Motor Types), Electric Vehicle Type, Application, Component, Power Rating, Powertrain Type, Sales Channel, and By Geography
According to Stratistics MRC, the Global Electric Vehicle Motor Market is accounted for $24.9 billion in 2025 and is expected to reach $75.8 billion by 2032, growing at a CAGR of 17.2% during the forecast period. The electric vehicle motor market involves the design, production, and integration of traction motors used in battery electric and hybrid vehicles. It covers induction, permanent magnet, and other motor types, along with associated control electronics and cooling systems. Benefits include high efficiency, strong torque, compact packaging, and quieter operation compared with combustion engines, enabling better vehicle performance, lower energy consumption, and support for mass electrification of transport.
Market Dynamics:
Driver:
Global Push for Electrification
The primary catalyst for the electric vehicle motor market is the unprecedented global push for transportation electrification. Governments worldwide are implementing stringent emission regulations and offering substantial consumer incentives, compelling automakers to accelerate their EV portfolios. Furthermore, rising consumer awareness regarding environmental sustainability is steadily increasing the demand for zero-emission vehicles. This powerful combination of regulatory pressure and shifting consumer preference creates a guaranteed and expanding market for EV motor manufacturers, ensuring continued investment and innovation in motor technologies.
Restraint:
Dependency on Rare-Earth Materials
A significant challenge constraining market growth is the industry's heavy reliance on rare-earth materials, particularly neodymium for high-strength permanent magnets. The extraction and processing of these materials are geographically concentrated, creating vulnerable and volatile supply chains. Additionally, price fluctuations and geopolitical tensions pose serious risks to stable motor production. This dependency increases costs and threatens the strategic autonomy of EV manufacturers outside the controlling regions, prompting a search for alternative motor designs.
Opportunity:
Integration with Power Electronics
Optimizing the motor-inverter combination can lead to significant gains in overall powertrain efficiency, power density, and vehicle range. Moreover, this synergy enables more sophisticated torque control, improving vehicle performance and drivability. This trend encourages collaborative development between motor and semiconductor companies, which presents opportunities for product differentiation and value addition beyond the motor itself.
Threat:
Intense Global Competition
The market faces the persistent threat of intense competition from both established automotive suppliers and a wave of new, agile entrants. This rivalry pressures profit margins and forces continuous, rapid innovation. Companies must invest heavily in research to develop more efficient, cost-effective, and compact motors while scaling production. The inability to keep pace with technological advancements or achieve competitive pricing can quickly lead to a loss of market share in this fast-evolving landscape.
Covid-19 Impact:
The COVID-19 pandemic initially disrupted the EV motor market severely, causing factory shutdowns and fracturing global supply chains, which led to production delays and component shortages. However, the recovery was remarkably swift, fueled by strong governmental stimulus packages that often included green initiatives and EV subsidies. The crisis ultimately accelerated the automotive industry's strategic shift towards electrification, as many automakers prioritized EV programs in their post-pandemic recovery plans, leading to a V-shaped rebound for the market.
The permanent magnet synchronous motor (PMSM) segment is expected to be the largest during the forecast period
The permanent magnet synchronous motor (PMSM) segment is expected to account for the largest market share during the forecast period, a dominance attributed to its superior efficiency and high-power density. Most battery electric vehicles use PMSMs because they work so well, which directly leads to longer driving ranges. Furthermore, their compact size and high torque capability make them ideal for the diverse requirements of passenger and commercial vehicles, ensuring their continued prevalence as the industry standard.
The battery electric vehicle (BEV) segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the battery electric vehicle (BEV) segment is predicted to witness the highest growth rate. Falling battery costs, expanding charging infrastructure, and the introduction of more affordable BEV models across various consumer segments directly fuel this accelerated growth. Additionally, increasingly supportive government policies that phase out internal combustion engines are steering both consumer demand and automaker investment decisively toward pure electric vehicles, making BEVs the central focus of the industry's future.
Region with largest share:
During the forecast period, the Asia Pacific region is expected to hold the largest market share, anchored by China, the world's largest EV market, supported by aggressive government mandates and a robust domestic manufacturing ecosystem. The presence of major global EV manufacturers and a vast, increasingly affluent consumer base solidifies its dominant position. Moreover, strong local supply chains for key components, including motors and batteries, provide a critical competitive advantage that other regions are still developing.
Region with highest CAGR:
Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR. While China continues to grow rapidly, emerging economies like India and Southeast Asian nations are beginning to implement their own strong EV policies and incentives, creating new high-growth frontiers. The region's intense competition among local and international players, coupled with rising investments in production capacity, is expected to drive growth rate.
Key players in the market
Some of the key players in Electric Vehicle Motor Market include Robert Bosch GmbH, Siemens AG, ABB Ltd, Nidec Corporation, Mitsubishi Electric Corporation, Toshiba Corporation, Continental AG, DENSO Corporation, Magna International Inc., BorgWarner Inc., Hitachi Astemo, Ltd., AISIN CORPORATION, Valeo SA, ZF Friedrichshafen AG, MAHLE GmbH, and Johnson Electric Holdings Limited.
Key Developments:
In October 2025, KPMG Australia launched the 2025 Nature Positive Challenge to support start-ups working in AI and the circular economy, complementing earlier circular-economy reports and advisory services.
In August 2025, BCG released “Spinning textile waste into value” and a related fashion circularity report, quantifying Europe’s textile-waste opportunity and advising brands on circular business models.
In June 2025, Deloitte published “Circularity and value chains 2025: Multiplying effects”, analysing how upcoming EU measures (including a planned Circular Economy Act) and the Circularity Gap Report 2025 reshape value chains and circular-economy strategy.
Motor Types Covered:
• Permanent Magnet Synchronous Motor (PMSM)
• AC Induction Motor (ACIM)
• Brushless DC Motor (BLDC)
• Electrically Excited Synchronous Motor (EESM) / Wound Rotor Synchronous Motor (WRSM)
• Other Motor Types
Electric Vehicle Types Covered:
• Battery Electric Vehicle (BEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
• Hybrid Electric Vehicle (HEV)
• Fuel Cell Electric Vehicle (FCEV)
Applications Covered:
• Passenger Cars
• Commercial Vehicles
• Two-Wheelers
• Three-Wheelers
Components Covered:
• Motor Stator
• Rotor, Shaft, and Bearing
• Permanent Magnets
• Motor Casing/Housing
• Wiring & Connectors
• Other Components
Power Ratings Covered:
• Up to 20kW
• 21kW to 100kW
• 101kW to 250kW
• Above 250kW
Powertrain Types Covered:
• Single Motor Powertrain
• Dual Motor Powertrain
• Triple/Four Motor Powertrain
Sales Channels Covered:
• Original Equipment Manufacturer (OEM)
• Aftermarket
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Electric Vehicle Motor Market, By Motor Type
5.1 Introduction
5.2 Permanent Magnet Synchronous Motor (PMSM)
5.3 AC Induction Motor (ACIM)
5.4 Brushless DC Motor (BLDC)
5.5 Electrically Excited Synchronous Motor (EESM) / Wound Rotor Synchronous Motor (WRSM)
5.6 Other Motor Types
6 Global Electric Vehicle Motor Market, By Electric Vehicle Type
6.1 Introduction
6.2 Battery Electric Vehicle (BEV)
6.3 Plug-in Hybrid Electric Vehicle (PHEV)
6.4 Hybrid Electric Vehicle (HEV)
6.5 Fuel Cell Electric Vehicle (FCEV)
7 Global Electric Vehicle Motor Market, By Application
7.1 Introduction
7.2 Passenger Cars
7.2.1 Sedan
7.2.2 SUV/MPV
7.2.3 Hatchback
7.3 Commercial Vehicles
7.3.1 Buses
7.3.2 Light Commercial Vehicles (LCV)
7.3.3 Medium & Heavy Commercial Vehicles (M&HCV / Trucks)
7.4 Two-Wheelers
7.5 Three-Wheelers
8 Global Electric Vehicle Motor Market, By Component
8.1 Introduction
8.2 Motor Stator
8.3 Rotor, Shaft, and Bearing
8.4 Permanent Magnets
8.5 Motor Casing/Housing
8.6 Wiring & Connectors
8.7 Other Components
9 Global Electric Vehicle Motor Market, By Power Rating
9.1 Introduction
9.2 Up to 20kW
9.3 21kW to 100kW
9.4 101kW to 250kW
9.5 Above 250kW
10 Global Electric Vehicle Motor Market, By Powertrain Type
10.1 Introduction
10.2 Single Motor Powertrain
10.3 Dual Motor Powertrain
10.4 Triple/Four Motor Powertrain
11 Global Electric Vehicle Motor Market, By Sales Channel
11.1 Introduction
11.2 Original Equipment Manufacturer (OEM)
11.3 Aftermarket
12 Global Electric Vehicle Motor Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 Robert Bosch GmbH
14.2 Siemens AG
14.3 ABB Ltd
14.4 Nidec Corporation
14.5 Mitsubishi Electric Corporation
14.6 Toshiba Corporation
14.7 Continental AG
14.8 DENSO Corporation
14.9 Magna International Inc.
14.10 BorgWarner Inc.
14.11 Hitachi Astemo, Ltd.
14.12 AISIN CORPORATION
14.13 Valeo SA
14.14 ZF Friedrichshafen AG
14.15 MAHLE GmbH
14.16 Johnson Electric Holdings Limited
List of Tables
1 Global Electric Vehicle Motor Market Outlook, By Region (2024–2032) ($MN)
2 Global Electric Vehicle Motor Market Outlook, By Motor Type (2024–2032) ($MN)
3 Global Electric Vehicle Motor Market Outlook, By Permanent Magnet Synchronous Motor (PMSM) (2024–2032) ($MN)
4 Global Electric Vehicle Motor Market Outlook, By AC Induction Motor (ACIM) (2024–2032) ($MN)
5 Global Electric Vehicle Motor Market Outlook, By Brushless DC Motor (BLDC) (2024–2032) ($MN)
6 Global Electric Vehicle Motor Market Outlook, By Electrically Excited Synchronous Motor (EESM) / Wound Rotor Synchronous Motor (WRSM) (2024–2032) ($MN)
7 Global Electric Vehicle Motor Market Outlook, By Other Motor Types (2024–2032) ($MN)
8 Global Electric Vehicle Motor Market Outlook, By Electric Vehicle Type (2024–2032) ($MN)
9 Global Electric Vehicle Motor Market Outlook, By Battery Electric Vehicle (BEV) (2024–2032) ($MN)
10 Global Electric Vehicle Motor Market Outlook, By Plug-in Hybrid Electric Vehicle (PHEV) (2024–2032) ($MN)
11 Global Electric Vehicle Motor Market Outlook, By Hybrid Electric Vehicle (HEV) (2024–2032) ($MN)
12 Global Electric Vehicle Motor Market Outlook, By Fuel Cell Electric Vehicle (FCEV) (2024–2032) ($MN)
13 Global Electric Vehicle Motor Market Outlook, By Application (2024–2032) ($MN)
14 Global Electric Vehicle Motor Market Outlook, By Passenger Cars (2024–2032) ($MN)
15 Global Electric Vehicle Motor Market Outlook, By Sedan (2024–2032) ($MN)
16 Global Electric Vehicle Motor Market Outlook, By SUV/MPV (2024–2032) ($MN)
17 Global Electric Vehicle Motor Market Outlook, By Hatchback (2024–2032) ($MN)
18 Global Electric Vehicle Motor Market Outlook, By Commercial Vehicles (2024–2032) ($MN)
19 Global Electric Vehicle Motor Market Outlook, By Buses (2024–2032) ($MN)
20 Global Electric Vehicle Motor Market Outlook, By Light Commercial Vehicles (LCV) (2024–2032) ($MN)
21 Global Electric Vehicle Motor Market Outlook, By Medium & Heavy Commercial Vehicles (M&HCV / Trucks) (2024–2032) ($MN)
22 Global Electric Vehicle Motor Market Outlook, By Two-Wheelers (2024–2032) ($MN)
23 Global Electric Vehicle Motor Market Outlook, By Three-Wheelers (2024–2032) ($MN)
24 Global Electric Vehicle Motor Market Outlook, By Component (2024–2032) ($MN)
25 Global Electric Vehicle Motor Market Outlook, By Motor Stator (2024–2032) ($MN)
26 Global Electric Vehicle Motor Market Outlook, By Rotor, Shaft, and Bearing (2024–2032) ($MN)
27 Global Electric Vehicle Motor Market Outlook, By Permanent Magnets (2024–2032) ($MN)
28 Global Electric Vehicle Motor Market Outlook, By Motor Casing/Housing (2024–2032) ($MN)
29 Global Electric Vehicle Motor Market Outlook, By Wiring & Connectors (2024–2032) ($MN)
30 Global Electric Vehicle Motor Market Outlook, By Other Components (2024–2032) ($MN)
31 Global Electric Vehicle Motor Market Outlook, By Power Rating (2024–2032) ($MN)
32 Global Electric Vehicle Motor Market Outlook, By Up to 20kW (2024–2032) ($MN)
33 Global Electric Vehicle Motor Market Outlook, By 21kW to 100kW (2024–2032) ($MN)
34 Global Electric Vehicle Motor Market Outlook, By 101kW to 250kW (2024–2032) ($MN)
35 Global Electric Vehicle Motor Market Outlook, By Above 250kW (2024–2032) ($MN)
36 Global Electric Vehicle Motor Market Outlook, By Powertrain Type (2024–2032) ($MN)
37 Global Electric Vehicle Motor Market Outlook, By Single Motor Powertrain (2024–2032) ($MN)
38 Global Electric Vehicle Motor Market Outlook, By Dual Motor Powertrain (2024–2032) ($MN)
39 Global Electric Vehicle Motor Market Outlook, By Triple/Four Motor Powertrain (2024–2032) ($MN)
40 Global Electric Vehicle Motor Market Outlook, By Sales Channel (2024–2032) ($MN)
41 Global Electric Vehicle Motor Market Outlook, By Original Equipment Manufacturer (OEM) (2024–2032) ($MN)
42 Global Electric Vehicle Motor Market Outlook, By Aftermarket (2024–2032) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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