Electric Vehicle Motor Market is Set to Experience Revolutionary Growth by 2032

Over the projection period of 2022-2032, the global electric vehicle motor market is predicted to grow at a CAGR of 21.2%, reaching a valuation of more than US$ 396.3 Bn by 2032. At a CAGR of 20.8%, AC electric vehicle motor is estimated to be the most lucrative segment under product type from 2022 to 2032. By power, up to 100 kW and above 200 kW EV motors together are projected to hold over 70% of the total market share in 2022. Based on EV Type, BEV and HEV together will hold more than 85% of the total market share in 2022. By 2032, South Asia & Pacific is expected to have the largest share of the global market, accounting for more than 23% of the value share. From 2022 to 2032, the U.S. is estimated to offer the biggest absolute dollar opportunity of more than US$ 38.0 Bn. Competition Landscape Some of the key EV motor manufacturers include Mahle GmBH, General Electric, Kirloskar Electric, Delta Electronics Inc., Bosch Mobility, ABB Ltd, Siemens AG, Nidec Motor Corporation, Toshiba Corporation, Zytek Automotive Ltd, Parker Hannifin Corp., and Vitesco Technologies.