Electric Vehicle Motor Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Electric Vehicle Motor Market
The electric vehicle motor market size was valued at USD 17.15 billion in 2023, and the market is now projected to grow from USD 23.75 billion in 2024 to USD 73.90 billion by 2032, exhibiting a CAGR of 15.2% during the forecast period of 2024-2032.
Because of COVID-19 and the expanding electric vehicle market, there were manufacturing disruptions and difficulties predicting demand for electric vehicles. A vast number of industries took a drastic forceful hit during the Covid period. But the automobiles cars certainly was hampered and restricted the market growth from all ends. The production of automobiles has been greatly impacted by supply limits of particular components, primarily semiconductor chips. These factors affected the electric vehicle motor market growth.
Since cars have an impact on the environment and cause the greenhouse gas effect, several regulatory bodies have established stringent emission regulations. These particular growth driving factors have been recorded to attribute the electric vehicle motor market share.Air quality is deteriorating more quickly as a result of vehicle pollution, which has grown to be a major concern.
Rare earth metals, such as cerium, lanthanum, neodymium, dysprosium, and terbium, are costly and generate a lot of trash when mined, which is why permanent magnets for PMSM (Permanent Magnet Synchronous Motor) are created. This mining then research and later development technique has interms proved a boon and and extremely successful trend for this particular market as it is augmenting the market growth revenue. A magnet's capacity to retain magnetism even at high temperatures is known as its coercivity, and it should be high.
Comprehensive Analysis of Electric Vehicle Motor Market
The two-wheeler, three-wheeler, passenger, and commercial vehicle segments of the market are divided based on the kind of vehicle. Segmenting the market based on component types include permanent magnet, casing, wiring & connectors, motor stator, rotor, shaft, and bearing.
Asia Pacific is expected to be the leading region of this particular product market and is anticipated to to grow over the forecasted period and also will continue to hold the largest market share. Growth in the two-, three-, and commercial-wheeled electric vehicle sales and registrations is the major rason for the successful business expansion in this particular region.
Moderate market fragmentation exists. In addition to spending money on R&D to manufacture items, these businesses have large production capacities. Robert Bosch GmbH (Germany), Siemens AG (Germany), ABB (Switzerland), AISIN CORPORATION (Japan), and LG Magna e-Powertrain Co., Ltd (South Korea) are a few of the leading industry participants.
In October 2023, The new e-drive concept makes use of the twenty years of eDrive experience that GKN Automotive has amassed to provide an affordable modular electric drive system that offers market-proven technology in an off-the-shelf style, together with excellent efficiency and performance. A new plug-and-play eDrive concept was unveiled by GKN Automotive in response to the increased demand from EV conversion firms and niche electric car players for modular electric drive technology.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of15.2% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Vehicle Type
Two Wheeler
Three Wheeler
Passenger Vehicle
- BEV
- Hybrid
Commercial Vehicle
- BEV
- Hybrid
By Component
Motor Stator
Rotor, Shaft, and Bearing
Permanent Magnet
Casing
Wiring & Connectors
By Power Rating
Up to 20 kW
20 kW to 100 kW
100 kW to 250 kW
Above 250 kW
By Geography
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
Rest of the World
- The Middle East & Africa
- Latin America
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends
- 4.2. Key Developments: Mergers, Acquisitions, Partnership, etc.
- 4.3. Latest Technological Advancement
- 4.4. Regulatory Landscape
- 4.5. Industry SWOT Analysis
- 4.6. Porter’s Five Forces Analysis
- 4.7. Impact of COVID-19 on Silent Generator Market
- 5. Global Silent Generator Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Portable Generator
- 5.2.2. Standby Generator
- 5.3. Market Analysis, Insights and Forecast – By Power
- 5.3.1. 1kVA-12.5kVA
- 5.3.2. 12.5kVA-45kVA
- 5.3.3. 46kVA-100kVA
- 5.3.4. 100kVA-500kVA
- 5.3.5. Over 500 kVA
- 5.4. Market Analysis, Insights and Forecast – By Fuel Type
- 5.4.1. Diesel
- 5.4.2. Gasoline
- 5.4.3. Dual Fuel
- 5.4.4. Gas
- 5.5. Market Analysis, Insights and Forecast – By Start Type
- 5.5.1. Electric
- 5.5.2. Pull
- 5.5.3. Wireless Remote
- 5.6. Market Analysis, Insights and Forecast – By End-Use
- 5.6.1. Industrial
- 5.6.2. Commercial
- 5.6.3. Residential
- 5.7. Market Analysis, Insights and Forecast – By Region
- 5.7.1. North America
- 5.7.2. Europe
- 5.7.3. Asia Pacific
- 5.7.4. Latin America
- 5.7.5. Middle East & Africa
- 6. North America Silent Generator Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Portable Generator
- 6.2.2. Standby Generator
- 6.3. Market Analysis, Insights and Forecast – By Power
- 6.3.1. 1kVA-12.5kVA
- 6.3.2. 12.5kVA-45kVA
- 6.3.3. 46kVA-100kVA
- 6.3.4. 100kVA-500kVA
- 6.3.5. Over 500 kVA
- 6.4. Market Analysis, Insights and Forecast – By Fuel Type
- 6.4.1. Diesel
- 6.4.2. Gasoline
- 6.4.3. Dual Fuel
- 6.4.4. Gas
- 6.5. Market Analysis, Insights and Forecast – By Start Type
- 6.5.1. Electric
- 6.5.2. Pull
- 6.5.3. Wireless Remote
- 6.6. Market Analysis, Insights and Forecast – By End-Use
- 6.6.1. Industrial
- 6.6.2. Commercial
- 6.6.3. Residential
- 6.7. Market Analysis, Insights and Forecast – By Country
- 6.7.1. U.S. Market Analysis, Insights and Forecast – By Fuel Type
- 6.7.1.1. Diesel
- 6.7.1.2. Gasoline
- 6.7.1.3. Dual Fuel
- 6.7.1.4. Gas
- 6.7.2. Canada Market Analysis, Insights and Forecast – By Fuel Type
- 6.7.2.1. Diesel
- 6.7.2.2. Gasoline
- 6.7.2.3. Dual Fuel
- 6.7.2.4. Gas
- 7. Europe Silent Generator Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Portable Generator
- 7.2.2. Standby Generator
- 7.3. Market Analysis, Insights and Forecast – By Power
- 7.3.1. 1kVA-12.5kVA
- 7.3.2. 12.5kVA-45kVA
- 7.3.3. 46kVA-100kVA
- 7.3.4. 100kVA-500kVA
- 7.3.5. Over 500 kVA
- 7.4. Market Analysis, Insights and Forecast – By Fuel Type
- 7.4.1. Diesel
- 7.4.2. Gasoline
- 7.4.3. Dual Fuel
- 7.4.4. Gas
- 7.5. Market Analysis, Insights and Forecast – By Start Type
- 7.5.1. Electric
- 7.5.2. Pull
- 7.5.3. Wireless Remote
- 7.6. Market Analysis, Insights and Forecast – By End-Use
- 7.6.1. Industrial
- 7.6.2. Commercial
- 7.6.3. Residential
- 7.7. Market Analysis, Insights and Forecast – By Country
- 7.7.1. UK Market Analysis, Insights and Forecast – By Fuel Type
- 7.7.1.1. Diesel
- 7.7.1.2. Gasoline
- 7.7.1.3. Dual Fuel
- 7.7.1.4. Gas
- 7.7.2. Germany Market Analysis, Insights and Forecast – By Fuel Type
- 7.7.2.1. Diesel
- 7.7.2.2. Gasoline
- 7.7.2.3. Dual Fuel
- 7.7.2.4. Gas
- 7.7.3. France Market Analysis, Insights and Forecast – By Fuel Type
- 7.7.3.1. Diesel
- 7.7.3.2. Gasoline
- 7.7.3.3. Dual Fuel
- 7.7.3.4. Gas
- 7.7.4. Italy Market Analysis, Insights and Forecast – By Fuel Type
- 7.7.4.1. Diesel
- 7.7.4.2. Gasoline
- 7.7.4.3. Dual Fuel
- 7.7.4.4. Gas
- 7.7.5. Spain Market Analysis, Insights and Forecast – By Fuel Type
- 7.7.5.1. Diesel
- 7.7.5.2. Gasoline
- 7.7.5.3. Dual Fuel
- 7.7.5.4. Gas
- 7.7.6. Russia Market Analysis, Insights and Forecast – By Fuel Type
- 7.7.6.1. Diesel
- 7.7.6.2. Gasoline
- 7.7.6.3. Dual Fuel
- 7.7.6.4. Gas
- 7.7.7. Rest of Europe Market Analysis, Insights and Forecast – By Fuel Type
- 7.7.7.1. Diesel
- 7.7.7.2. Gasoline
- 7.7.7.3. Dual Fuel
- 7.7.7.4. Gas
- 8. Asia Pacific Silent Generator Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Portable Generator
- 8.2.2. Standby Generator
- 8.3. Market Analysis, Insights and Forecast – By Power
- 8.3.1. 1kVA-12.5kVA
- 8.3.2. 12.5kVA-45kVA
- 8.3.3. 46kVA-100kVA
- 8.3.4. 100kVA-500kVA
- 8.3.5. Over 500 kVA
- 8.4. Market Analysis, Insights and Forecast – By Fuel Type
- 8.4.1. Diesel
- 8.4.2. Gasoline
- 8.4.3. Dual Fuel
- 8.4.4. Gas
- 8.5. Market Analysis, Insights and Forecast – By Start Type
- 8.5.1. Electric
- 8.5.2. Pull
- 8.5.3. Wireless Remote
- 8.6. Market Analysis, Insights and Forecast – By End-Use
- 8.6.1. Industrial
- 8.6.2. Commercial
- 8.6.3. Residential
- 8.7. Market Analysis, Insights and Forecast – By Country
- 8.7.1. China Market Analysis, Insights and Forecast – By Fuel Type
- 8.7.1.1. Diesel
- 8.7.1.2. Gasoline
- 8.7.1.3. Dual Fuel
- 8.7.1.4. Gas
- 8.7.2. Japan Market Analysis, Insights and Forecast – By Fuel Type
- 8.7.2.1. Diesel
- 8.7.2.2. Gasoline
- 8.7.2.3. Dual Fuel
- 8.7.2.4. Gas
- 8.7.3. India Market Analysis, Insights and Forecast – By Fuel Type
- 8.7.3.1. Diesel
- 8.7.3.2. Gasoline
- 8.7.3.3. Dual Fuel
- 8.7.3.4. Gas
- 8.7.4. Southeast Asia Market Analysis, Insights and Forecast – By Fuel Type
- 8.7.4.1. Diesel
- 8.7.4.2. Gasoline
- 8.7.4.3. Dual Fuel
- 8.7.4.4. Gas
- 8.7.5. Rest of Asia Pacific Market Analysis, Insights and Forecast – By Fuel Type
- 8.7.5.1. Diesel
- 8.7.5.2. Gasoline
- 8.7.5.3. Dual Fuel
- 8.7.5.4. Gas
- 9. Latin America Silent Generator Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Portable Generator
- 9.2.2. Standby Generator
- 9.3. Market Analysis, Insights and Forecast – By Power
- 9.3.1. 1kVA-12.5kVA
- 9.3.2. 12.5kVA-45kVA
- 9.3.3. 46kVA-100kVA
- 9.3.4. 100kVA-500kVA
- 9.3.5. Over 500 kVA
- 9.4. Market Analysis, Insights and Forecast – By Fuel Type
- 9.4.1. Diesel
- 9.4.2. Gasoline
- 9.4.3. Dual Fuel
- 9.4.4. Gas
- 9.5. Market Analysis, Insights and Forecast – By Start Type
- 9.5.1. Electric
- 9.5.2. Pull
- 9.5.3. Wireless Remote
- 9.6. Market Analysis, Insights and Forecast – By End-Use
- 9.6.1. Industrial
- 9.6.2. Commercial
- 9.6.3. Residential
- 9.7. Market Analysis, Insights and Forecast – By Country
- 9.7.1. Brazil Market Analysis, Insights and Forecast – By Fuel Type
- 9.7.1.1. Diesel
- 9.7.1.2. Gasoline
- 9.7.1.3. Dual Fuel
- 9.7.1.4. Gas
- 9.7.2. Mexico Market Analysis, Insights and Forecast – By Fuel Type
- 9.7.2.1. Diesel
- 9.7.2.2. Gasoline
- 9.7.2.3. Dual Fuel
- 9.7.2.4. Gas
- 9.7.3. Argentina Market Analysis, Insights and Forecast – By Fuel Type
- 9.7.3.1. Diesel
- 9.7.3.2. Gasoline
- 9.7.3.3. Dual Fuel
- 9.7.3.4. Gas
- 9.7.4. Rest of Latin America Market Analysis, Insights and Forecast – By Fuel Type
- 9.7.4.1. Diesel
- 9.7.4.2. Gasoline
- 9.7.4.3. Dual Fuel
- 9.7.4.4. Gas
- 10. Middle East & Africa Silent Generator Market Analysis (USD Billion), Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Type
- 10.2.1. Portable Generator
- 10.2.2. Standby Generator
- 10.3. Market Analysis, Insights and Forecast – By Power
- 10.3.1. 1kVA-12.5kVA
- 10.3.2. 12.5kVA-45kVA
- 10.3.3. 46kVA-100kVA
- 10.3.4. 100kVA-500kVA
- 10.3.5. Over 500 kVA
- 10.4. Market Analysis, Insights and Forecast – By Fuel Type
- 10.4.1. Diesel
- 10.4.2. Gasoline
- 10.4.3. Dual Fuel
- 10.4.4. Gas
- 10.5. Market Analysis, Insights and Forecast – By Start Type
- 10.5.1. Electric
- 10.5.2. Pull
- 10.5.3. Wireless Remote
- 10.6. Market Analysis, Insights and Forecast – By End-Use
- 10.6.1. Industrial
- 10.6.2. Commercial
- 10.6.3. Residential
- 10.7. Market Analysis, Insights and Forecast – By Country
- 10.7.1. GCC Market Analysis, Insights and Forecast – By Fuel Type
- 10.7.1.1. Diesel
- 10.7.1.2. Gasoline
- 10.7.1.3. Dual Fuel
- 10.7.1.4. Gas
- 10.7.2. South Africa Market Analysis, Insights and Forecast – By Fuel Type
- 10.7.2.1. Diesel
- 10.7.2.2. Gasoline
- 10.7.2.3. Dual Fuel
- 10.7.2.4. Gas
- 10.7.3. Rest of Middle East & Africa Market Analysis, Insights and Forecast – By Fuel Type
- 10.7.3.1. Diesel
- 10.7.3.2. Gasoline
- 10.7.3.3. Dual Fuel
- 10.7.3.4. Gas
- 11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2023
- 11.2. Company Profile
- 11.2.1. Caterpillar Inc.
- 11.2.1.1. Business Overview
- 11.2.1.2. Product & Service Offering
- 11.2.1.3. Overall Revenue
- 11.2.1.4. Recent Development
- 11.2.2. Cummins Inc.
- 11.2.2.1. Business Overview
- 11.2.2.2. Product & Service Offering
- 11.2.2.3. Overall Revenue
- 11.2.2.4. Recent Development
- 11.2.3. Generac Power Systems, Inc.
- 11.2.3.1. Business Overview
- 11.2.3.2. Product & Service Offering
- 11.2.3.3. Overall Revenue
- 11.2.3.4. Recent Development
- 11.2.4. Atlas Copco AB
- 11.2.4.1. Business Overview
- 11.2.4.2. Product & Service Offering
- 11.2.4.3. Overall Revenue
- 11.2.4.4. Recent Development
- 11.2.5. KIRLOSKAR OIL ENGINES LIMITED
- 11.2.5.1. Business Overview
- 11.2.5.2. Product & Service Offering
- 11.2.5.3. Overall Revenue
- 11.2.5.4. Recent Development
- 11.2.6. DENYO CO.,LTD.
- 11.2.6.1. Business Overview
- 11.2.6.2. Product & Service Offering
- 11.2.6.3. Overall Revenue
- 11.2.6.4. Recent Development
- 11.2.7. Powerol (Mahindra)
- 11.2.7.1. Business Overview
- 11.2.7.2. Product & Service Offering
- 11.2.7.3. Overall Revenue
- 11.2.7.4. Recent Development
- 11.2.7.5. Honda Power Equipment
- 11.2.8. Business Overview
- 11.2.8.1. Product & Service Offering
- 11.2.8.2. Overall Revenue
- 11.2.8.3. Recent Development
- 11.2.9. CRAFTSMAN
- 11.2.9.1. Business Overview
- 11.2.9.2. Product & Service Offering
- 11.2.9.3. Overall Revenue
- 11.2.9.4. Recent Development
- 11.2.10. Westinghouse Electric Company LLC
- 11.2.10.1. Business Overview
- 11.2.10.2. Product & Service Offering
- 11.2.10.3. Overall Revenue
- 11.2.10.4. Recent Development
- 11.2.11. WhisperPower International BV
- 11.2.11.1. Business Overview
- 11.2.11.2. Product & Service Offering
- 11.2.11.3. Overall Revenue
- 11.2.11.4. Recent Development
- 11.2.12. Ashok Leyland
- 11.2.12.1. Business Overview
- 11.2.12.2. Product & Service Offering
- 11.2.12.3. Overall Revenue
- 11.2.12.4. Recent Development
- 11.2.13. Jakson Group
- 11.2.13.1. Business Overview
- 11.2.13.2. Product & Service Offering
- 11.2.13.3. Overall Revenue
- 11.2.13.4. Recent Development
- 11.2.14. Jiangxi Vigorous New Energy Technology Co., Ltd.
- 11.2.14.1. Business Overview
- 11.2.14.2. Product & Service Offering
- 11.2.14.3. Overall Revenue
- 11.2.14.4. Recent Development
- 11.2.15. Briggs & Stratton
- 11.2.15.1. Business Overview
- 11.2.15.2. Product & Service Offering
- 11.2.15.3. Overall Revenue
- 11.2.15.4. Recent Development
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