"Market Intelligence for High-Geared Performance"

Automotive Electric Propulsion Motor Market Size, Share, and COVID-19 Impact Analysis, By Motor Type (AC Motor, DC Motor), By Power Output (Up to 10 HP, Above 10 HP), By Voltage (Up to 1 kV, 1-6.6 kV, 6.6 kV & More), By Application Type (Passenger Car, Commercial Vehicle), By Vehicle Type (BEV, PHEV, HEV), and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI106977 | Status : Ongoing



An electric vehicle's propulsion system comprises an energy storage system, a power converter, and a propulsion motor with associated controllers. The battery is a standard energy storage technology, and its charge is an essential aspect of the electric vehicle system. To power the wheels, an electric motor turns the energy supplied by the battery into mechanical energy.

Enactment of stringent emission and fuel economy regulations, government incentives, and improved charging infrastructure primarily drive electric vehicle adoption, resulting in increased demand for electric motors. Introducing electric vehicles will likely surge the demand for electric motors during the forecast period. Major automakers, such as Toyota, Honda, Tesla, General Motors, and Ford, among others, have made significant investments in electric vehicle research and development, which is anticipated to boost the market's growth. Furthermore, developing alliances between motor manufacturers and automotive firms will likely expand the global automotive electric propulsion motor market for electric vehicles.

Procuring rare earth metals used in permanent magnets for synchronous motors is a concern for the electric motor business, as these metals are susceptible to export restrictions and supply issues. As the market for Electric Vehicles (EVs) continues to grow, the need for electric motors is expected to rise in the next few years as most OEMs start or form partnerships with electric car manufacturers.

  • For instance, in February 2021, vehicle companies, including Nikola Motor and QuantumScape have already gone public through SPAC deals while others, such as Lightning eMotors and ChargePoint, are expected to merge with GM and Ford in the future.

Impact of COVID-19 on Global Automotive Electric Propulsion Motor Market

The global electric propulsion motor market share was less unaffected by the COVID-19 pandemic. However, due to lack of finance and capital diversion, they will encounter financial difficulties. Organizations that rely on bigger enterprises for contracting will likely witness short-term consequences since they will have to wait for payment. Many countries' currency values have declined due to the COVID-19 pandemic. Supply and demand are misaligned, resulting in financial losses for component/parts makers. The majority of key components required in the production of electric motors are purchased in U.S. dollars, which sometimes increases the cost of the component.

Key Insights

The report will cover the following key insights:

  • Key Industry Developments – Mergers, Acquisitions, and Partnerships

  • Porter’s Five Forces Analysis

  • PEST Analysis

  • Technological Developments

  • Impact of COVID-19 on Automotive Electric Propulsion Motor Market

Analysis by Vehicle Type 

The market is bifurcated into Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), based on vehicle type. The HEV segment will have the biggest market share during the projected period. The HEV segment is designed to improve fuel efficiency and vehicle performance, thereby surging the demand for the Hybrid Electric Vehicle (HEV) category.

However, from 2022 to 2029, the CAGR for motors with greater than 1HP power is predicted to be the highest. This power output segment's rapid rise can be attributed to the rising demand for these motors in vehicles, driven by high-end applications in the aerospace and transportation industries.

Regional Analysis

To gain extensive insights into the market, Request for Customization

Regionally, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.

The Asia Pacific region has the largest automotive electric propulsion motor market share. Due to increased purchases of electric vehicles, China is the world's top producer and customer of electric vehicles. National sales targets, favorable laws, and municipal air-quality targets help sustain domestic demand.

  • For example, China has put a quota on electric and hybrid vehicle manufacturers, requiring that they account for at least 10% of total new vehicle sales. In addition, to encourage residents to switch to electric vehicles, Beijing only gives 10,000 permits for registering combustion engine vehicles per month.

The region's automobile industry is also rising. The Asia Pacific region is the largest automobile manufacturer in the world. In 2019, more than 50 million commercial vehicles were produced in the region. Due to these factors, the Asia Pacific market is expected to grow. Due to many regional and international companies, the global market is highly fragmented. However, some of the world's most famous automakers, such as Toyota, Tesla, Nissan, Honda, BYD, BAIC, and BMW, dominate the market. Toyota has a major presence in the Japanese market and an in-house motor manufacturing facility.

  • In 2019, the Toyota Prius will be the world's first mass-produced hybrid vehicle developed by Toyota. Since its introduction, 13 million hybrid vehicles have been sold.

Key Players Covered

  • ABB- Baldor Electric (U.S.)

  • Emerson Electric (U.S.)  

  • Siemens (Germany)

  • Yasakawa Electric (Japan)

  • Toyota Motor Corporation (Japan)

  • Hitachi Astemo Ltd. (Japan)

  • DENSO Corporation (Japan)

  • Honda Motor Company Ltd (Japan)

  • Mitsubishi Electric Corp. (Japan)

  • Magna International (Canada)

  • Robert Bosch GmbH (Germany)

  • BMW AG (Germany)

  • Tesla Inc.(U.S.)

  • Toshiba Corporation (Japan)

  • BYD Co. Ltd (China)


By Motor Type

By Power Output

By Voltage

By Application Type

By Vehicle Type

By Geography

  • AC Motor

  • DC Motor

  • Up to 10 HP

  • Above 10 HP

  • Up to 1 kV

  • 1- 6.6 kV

  • 6.6 kV & More

  • Passenger Car

  • Commercial Vehicle

  • BEV

  • HEV

  • PHEV

  • North America (U.S., Canada, Mexico)

  • Europe (Germany, France, U.K., and Rest of Europe)

  • Asia Pacific (China, Japan, India, and Rest of APAC)

  • Rest of the World

Key Industry Developments

  • In May 2022, Hitachi, Ltd. and Hitachi Astemo, Ltd. developed the basic technology for a thin-type inverter that can save up to 30% of energy while also reducing the size of a power converter for electric vehicles by 50%. This approach simplifies power wiring by integrating power semiconductors that control the power supply with printed circuit boards.

  • In April 2021, Volkswagen showcased the 7-seater EV ID.6 Crozz and ID.6 X, developed with FAW and SAIC. These vehicles will be available for purchase only in China. It's available in two battery sizes, 58 kWh and 77 kWh, and four powertrain options.

  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Automotive & Transportation Clients


Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.