Global Electric Vehicle Motor Market Size, Share, Trends, Growth, and Industry Analysis, By Type (AC Motor (Synchronous AC Motor, and Induction AC Motor), DC Motor (Brushed DC Motor, and Brushless DC Motor)), By Vehicle Type (Pure Electric Vehicle, Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle, and Fuel Cell Electric Vehicle (FCEV)), By Motor Type (Induction Motor, Synchronous Motor, and Switched Reluctance Motor), By Power Rating (Up to 60 KW, 60 to 90 KW, Above 90 KW), By Application (Electric Two-Wheeler, Electric Three-Wheeler, Electric Commercial Vehicles, and Electric Passenger Cars), By Powertrain Type, By Marketplace, By End User, Regional Analysis, Competitor Analysis and Forecast 2024-2032.
Global Electric Vehicle Motor market size was USD 8.47 billion in 2023 and the market is projected to touch USD 58.73 billion by 2032, at a CAGR of 24.01% during the forecast period. An EV motor is an essential part of electric vehicles, turning electrical energy into mechanical energy that propels the vehicle. As governments…