Axial Flux Motor Market by Component (Bearings, Cooling systems, Magnets), Power Rating (15kw-80kw, 1kw-15kw, 80kw-160kw), Voltage, Application, End-User Industry - Global Forecast 2024-2030
The Axial Flux Motor Market size was estimated at USD 1.07 billion in 2023 and expected to reach USD 1.17 billion in 2024, at a CAGR 8.62% to reach USD 1.92 billion by 2030.
An axial flux motor, a type of electric motor, distinguishes itself by the direction in which its magnetic flux moves. The magnetic flux moves parallel to the axis of rotation, unlike traditional radial flux motors, where the flux moves radially from the center out toward the circumference in an axial flux motor. This design enables a more compact and efficient architecture, often resulting in a lighter and smaller motor capable of delivering comparable or superior performance to its radial counterpart. The push toward electrification and the global demand for more efficient and smaller motors for electric vehicles further propels the demand for axial flux motors. In addition, the growing emphasis on sustainable energy solutions has increased the demand for efficient motors in renewable energy applications. However, technical limitations in thermal management and integrating axial flux motors into existing systems are significant challenges for manufacturers. Moreover, developing new materials, such as high-performance magnets and improved electrical steel, could enhance motor efficiency and reduce costs. There is also potential in modular and scalable motor designs, allowing for a wider range of applications.
Regional Insights
In the Americas, particularly in the United States and Canada, a growing interest in axial flux motors is primarily driven by the push for electric vehicles and renewable energy systems. Consumers in the Americas increasingly demand high-performance, durable, and energy-efficient motors for automotive and industrial machinery applications. The EMEA region presents a diverse market with varying demand for axial flux motors. European Union (EU) countries have led in adopting this approach due to strong regulatory frameworks for energy efficiency and emissions. The Middle East and Africa are gradually growing, driven by the need for energy optimization and growing interest in electric mobility solutions. Moreover, the Asia-Pacific region demonstrates a significant demand for axial flux motors, driven by the accelerating electric vehicle (EV) market, particularly in countries such as China, Japan, and India. This region's rapid industrialization and urbanization contribute to increased demand for high-efficiency motors for applications in automotive, industrial automation, and renewable energy sectors.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Axial Flux Motor Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Increasing demand for efficient motor solutions for electric vehicles
- Growing government investments and initiatives toward renewable energy production
- Market Restraints
- Complexities associated with the designing and manufacturing of axial flux motor
- Market Opportunities
- Continuous research and introduction of advanced axial flux motor
- Development, approval, and utilization of axial flux motors in the aviation sector
- Market Challenges
- Technical issues associated with the thermal management and the integration of axial flux motors into existing systems
- Market Segmentation Analysis
- Component: Technical advancements in rotors and cooling systems for axial flux motors
- Application: Increasing adoption of axial flux motors in EVs and renewable energy systems offering high power density and efficiency
- Power Rating: Significance of axial flux motors with power ratings above 160 kw in power density applications
- Voltage: Increasing adoption of medium voltage motors, offering a balance between high power output and costs efficiency
- End-User Industry: Growing adoption of axial flux motors in aerospace and defense sector with ongoing shift toward electrification
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Axial Flux Motor Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Axial Flux Motor Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Enhancing EV Innovations: Siemens' Advanced Simcenter E-Machine Design Software
Siemens Digital Industries Software has introduced innovative Simcenter E-Machine Design software within the Siemens Xcelerator portfolio, aimed at revolutionizing the electric vehicle (EV) sector by advancing the performance prediction of e-machines, including axial flux electric drive units. This state-of-the-art solution integrates electromagnetic and thermal simulations, significantly reducing the dependence on physical prototyping and propelling the EV industry toward rapid technological advancements.
Innovating Home Air Purification: The Integration of Slimmer, High-Performance Motors
Sumitomo Electric Industries, Ltd., has introduced its innovative powder magnetic cores for axial flux motors, marking a significant advancement in motor technology used in home appliances. This breakthrough comes as part of a collaborative effort with Daikin Industries, Ltd., which has resulted in the development of a pioneering flat DC motor for its new Humidifying Streamer Air Purifier.
Revolutionizing Electric Mobility: Magnax BV’s Strategic Advancement in Axial Flux Motor Technology
In a significant leap toward revolutionizing electric motor technology, Belgian-based Magnax has successfully garnered a EUR 16 million (USD 17.4 million) Series A funding to enhance and upscale its innovative yokeless axial flux electric motor technology. The founding team has pivoted from its initial focus, aiming to capture a significant share of the burgeoning billion-dollar electric motor market, thereby accelerating the transition to green mobility.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Axial Flux Motor Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Axial Flux Motor Market, highlighting leading vendors and their innovative profiles. These include Agni Motors Ltd, Altair Engineering Inc., American Precision Industries, Inc. by Regal Rexnord Corporation, ASHWOODS ELECTRIC MOTORS LIMITED by DANA TM4 INC., Beyond Motors, d.o.o., ECM PCB Stator Technology, EMRAX d.o.o., Evolito Ltd, Faststream Technologies, GKN Powder Metallurgy Engineering GMBH, Hyundai Mobis Co., Ltd., Lucchi R. Elettromeccanica s.r.l., Magnax BV, McLaren Automotive Limited, Miba AG, Motenergy, Inc, Naxatra Labs Pvt. Ltd., Nidec Corporation, Omni Powertrain Technologies, LLC, Phi-Power AG, Saietta Group plc, Schaeffler AG, Siemens AG, Sierramotion, Inc. by Allient Inc., Sumitomo Electric Industries, Ltd., Torus Robotics Pvt Ltd, Traxial BV, Tresa Motors, Turntide Technologies Inc., WHYLOT, and YASA Limited by Mercedes-Benz AG.
Market Segmentation & Coverage
This research report categorizes the Axial Flux Motor Market to forecast the revenues and analyze trends in each of the following sub-markets:- Component
- Bearings
- Cooling systems
- Magnets
- Rotors
- Stators
- Power Rating
- 15kw-80kw
- 1kw-15kw
- 80kw-160kw
- Above 160kw
- Voltage
- High voltage
- Low voltage
- Medium voltage
- Application
- Commercial Vehicles
- Electric Drones
- Electric Passenger Vehicles
- Elevators
- Industrial Machinery
- Robotics Actuators
- Yachts & Electric Boats
- End-User Industry
- Aerospace & Defense
- Automotive
- Manufacturing & Industrial
- Marine
- Renewable Energy
- Transportation & Logistics
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Market Drivers
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Increasing demand for efficient motor solutions for electric vehicles
- 5.1.1.2. Growing government investments and initiatives toward renewable energy production
- 5.1.2. Restraints
- 5.1.2.1. Complexities associated with the designing and manufacturing of axial flux motor
- 5.1.3. Opportunities
- 5.1.3.1. Continuous research and introduction of advanced axial flux motor
- 5.1.3.2. Development, approval, and utilization of axial flux motors in the aviation sector
- 5.1.4. Challenges
- 5.1.4.1. Technical issues associated with the thermal management and the integration of axial flux motors into existing systems
- 5.2. Market Segmentation Analysis
- 5.2.1. Component: Technical advancements in rotors and cooling systems for axial flux motors
- 5.2.2. Application: Increasing adoption of axial flux motors in EVs and renewable energy systems offering high power density and efficiency
- 5.2.3. Power Rating: Significance of axial flux motors with power ratings above 160 kw in power density applications
- 5.2.4. Voltage: Increasing adoption of medium voltage motors, offering a balance between high power output and costs efficiency
- 5.2.5. End-User Industry: Growing adoption of axial flux motors in aerospace and defense sector with ongoing shift toward electrification
- 5.3. Market Trend Analysis
- 5.3.1. Exponential growth in automation and robotics across industries propelling advancements in axial flux motor technology in the Americas
- 5.3.2. Robust manufacturing capabilities, surge in electric vehicle production, and strategic collaborations between regional and global players across the APAC region
- 5.3.3. Deployment of axial flux motors across automotive and renewable energy sectors with rising research & development activities to reduce the cost of motors in the EMEA region
- 5.4. Cumulative Impact of High Inflation
- 5.5. Porter’s Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
- 5.6. Value Chain & Critical Path Analysis
- 5.7. Regulatory Framework Analysis
- 6. Axial Flux Motor Market, by Component
- 6.1. Introduction
- 6.2. Bearings
- 6.3. Cooling systems
- 6.4. Magnets
- 6.5. Rotors
- 6.6. Stators
- 7. Axial Flux Motor Market, by Power Rating
- 7.1. Introduction
- 7.2. 15kw-80kw
- 7.3. 1kw-15kw
- 7.4. 80kw-160kw
- 7.5. Above 160kw
- 8. Axial Flux Motor Market, by Voltage
- 8.1. Introduction
- 8.2. High voltage
- 8.3. Low voltage
- 8.4. Medium voltage
- 9. Axial Flux Motor Market, by Application
- 9.1. Introduction
- 9.2. Commercial Vehicles
- 9.3. Electric Drones
- 9.4. Electric Passenger Vehicles
- 9.5. Elevators
- 9.6. Industrial Machinery
- 9.7. Robotics Actuators
- 9.8. Yachts & Electric Boats
- 10. Axial Flux Motor Market, by End-User Industry
- 10.1. Introduction
- 10.2. Aerospace & Defense
- 10.3. Automotive
- 10.4. Manufacturing & Industrial
- 10.5. Marine
- 10.6. Renewable Energy
- 10.7. Transportation & Logistics
- 11. Americas Axial Flux Motor Market
- 11.1. Introduction
- 11.2. Argentina
- 11.3. Brazil
- 11.4. Canada
- 11.5. Mexico
- 11.6. United States
- 12. Asia-Pacific Axial Flux Motor Market
- 12.1. Introduction
- 12.2. Australia
- 12.3. China
- 12.4. India
- 12.5. Indonesia
- 12.6. Japan
- 12.7. Malaysia
- 12.8. Philippines
- 12.9. Singapore
- 12.10. South Korea
- 12.11. Taiwan
- 12.12. Thailand
- 12.13. Vietnam
- 13. Europe, Middle East & Africa Axial Flux Motor Market
- 13.1. Introduction
- 13.2. Denmark
- 13.3. Egypt
- 13.4. Finland
- 13.5. France
- 13.6. Germany
- 13.7. Israel
- 13.8. Italy
- 13.9. Netherlands
- 13.10. Nigeria
- 13.11. Norway
- 13.12. Poland
- 13.13. Qatar
- 13.14. Russia
- 13.15. Saudi Arabia
- 13.16. South Africa
- 13.17. Spain
- 13.18. Sweden
- 13.19. Switzerland
- 13.20. Turkey
- 13.21. United Arab Emirates
- 13.22. United Kingdom
- 14. Competitive Landscape
- 14.1. Market Share Analysis, 2023
- 14.2. FPNV Positioning Matrix, 2023
- 14.3. Competitive Scenario Analysis
- 14.3.1. Enhancing EV Innovations: Siemens' Advanced Simcenter E-Machine Design Software
- 14.3.2. Innovating Home Air Purification: The Integration of Slimmer, High-Performance Motors
- 14.3.3. Revolutionizing Electric Mobility: Magnax BV’s Strategic Advancement in Axial Flux Motor Technology
- 14.3.4. Saietta VNA Launches Axial-Flux Electric Motor Production in Manesar to Advance India's EV Market
- 14.3.5. Revolutionizing Electric Vehicle Technology: YASA Leads Groundbreaking Consortium with (USD 26.07 Million) in Funding
- 14.3.6. Revolutionizing the Electric Truck Industry: Tresa Motors' Introduction of the FLUX 350 Axial Flux Motor
- 14.3.7. Advancements in Electromechanical Engineering: Spotlight on Turntide Technologies' Axial Flux Motor at IVT Expo USA
- 14.3.8. Miba's Strategic Expansion to Boost eMobility and Sustainable Energy Solutions
- 14.3.9. Ziehl-Abegg Expands Global Footprint with New Manufacturing Plant in Vietnam
- 14.3.10. Innovative Development in High Altitude Platform Stations: SoftBank and Nidec's Axial Flux Motor Revolution
- 14.3.11. Saietta and AVTEC's Joint Venture Pioneers Advanced eDrive Solutions for Light Vehicles
- 15. Competitive Portfolio
- 15.1. Key Company Profiles
- 15.2. Key Product Portfolio
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