The North America Electric Vehicle Motor Market would witness market growth of 20.1% CAGR during the forecast period (2022-2028).
There are two types of current flows, namely alternating current (AC) and direct current (DC), that guide the energy movement in an electric vehicle’s powertrain and thereby, the need for the vehicle’s motor. The two prominent AC motors that are widely used are synchronous and asynchronous (or induction) motors. The major DC motor types are DC series motors and brushless DC motors (BLDC). Technological advancements in motors have produced faster and more efficient motors like permanent magnet synchronous motors (PMSM) and switched reluctance motors (SRM).
The rotor in an induction motor has longitudinal conductive bars or laminations, usually made of copper but occasionally of aluminum. These laminations experience current induction from the stator's RMF, and this electromagnetic field (EMF) eventually starts to rotate inside the stator's RMF. Due to the fact that the induced EMF and the accompanying rotating torque can only exist when the rotor's speed is slower than the RMF, induction motors are sometimes referred to as asynchronous motors.
These types of motors are widely used since they don't require rare-earth magnets and can be produced for a reasonable price. The rotors of permanent-magnet motors have their magnetism. The magnetic field of the rotor may be created with no external power, which makes them far more effective at low speeds. These rotors are also synchronous since they rotate at the same rate as the stator's RMF.
The United States is now well-positioned to lead the EV future, creating employment, increasing domestic production, combating climate change, and achieving environmental justice. This is largely due to President Biden's auto vision and leadership. The President rallied automakers and autoworkers behind the audacious target that by 2030, electric vehicles will account for 50% of all automobiles sold in the US. This economic strategy has encouraged the home production of EVs, chargers for EVs, and batteries, among other strong new "Made in America" laws. The expansion of the regional electric vehicle motor market is thriving as a result of the government's increased efforts to encourage the adoption and manufacture of electric vehicles in regional countries.
The US market dominated the North America Electric Vehicle Motor Market by Country in 2021; thereby, achieving a market value of $3,361.8 Million by 2028. The Canada market is experiencing a CAGR of 22.4% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 22.1% during (2022 - 2028).
Based on Type, the market is segmented into AC Motor and DC Motor. Based on Application, the market is segmented into Passenger Cars and Commercial Vehicles. Based on Electric Vehicle Type, the market is segmented into Battery Electric Vehicle, Plugin Hybrid Vehicle and Hybrid Vehicle. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Electric Vehicle Motor Market is Estimated to reach $19.2 Billion by 2028, at a CAGR of 20.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bühler Motor GmbH, Inteva Products, LLC (The Renco Group Inc), Mabuchi Motor Co., Ltd., Johnson Electric Holdings Limited, Continental AG, Denso Corporation, Magna International, Inc., Robert Bosch GmbH, Nidec Corporation and MITSUBA Corporation
Scope of the Study
Market Segments Covered in the Report:
By Type
By Application
- Passenger Cars
- Commercial Vehicles
By Electric Vehicle Type
- Battery Electric Vehicle
- Plugin Hybrid Vehicle
- Hybrid Vehicle
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Bühler Motor GmbH
- Inteva Products, LLC (The Renco Group Inc)
- Mabuchi Motor Co., Ltd.
- Johnson Electric Holdings Limited
- Continental AG
- Denso Corporation
- Magna International, Inc.
- Robert Bosch GmbH
- Nidec Corporation
- MITSUBA Corporation
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Electric Vehicle Motor Market, by Type
1.4.2 North America Electric Vehicle Motor Market, by Application
1.4.3 North America Electric Vehicle Motor Market, by Electric Vehicle Type
1.4.4 North America Electric Vehicle Motor Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
Chapter 4. North America Electric Vehicle Motor Market by Type
4.1 North America AC Motor Market by Country
4.2 North America DC Motor Market by Country
Chapter 5. North America Electric Vehicle Motor Market by Application
5.1 North America Passenger Cars Market by Country
5.2 North America Commercial Vehicles Market by Country
Chapter 6. North America Electric Vehicle Motor Market by Electric Vehicle Type
6.1 North America Battery Electric Vehicle Market by Country
6.2 North America Plugin Hybrid Vehicle Market by Country
6.3 North America Hybrid Vehicle Market by Country
Chapter 7. North America Electric Vehicle Motor Market by Country
7.1 US Electric Vehicle Motor Market
7.1.1 US Electric Vehicle Motor Market by Type
7.1.2 US Electric Vehicle Motor Market by Application
7.1.3 US Electric Vehicle Motor Market by Electric Vehicle Type
7.2 Canada Electric Vehicle Motor Market
7.2.1 Canada Electric Vehicle Motor Market by Type
7.2.2 Canada Electric Vehicle Motor Market by Application
7.2.3 Canada Electric Vehicle Motor Market by Electric Vehicle Type
7.3 Mexico Electric Vehicle Motor Market
7.3.1 Mexico Electric Vehicle Motor Market by Type
7.3.2 Mexico Electric Vehicle Motor Market by Application
7.3.3 Mexico Electric Vehicle Motor Market by Electric Vehicle Type
7.4 Rest of North America Electric Vehicle Motor Market
7.4.1 Rest of North America Electric Vehicle Motor Market by Type
7.4.2 Rest of North America Electric Vehicle Motor Market by Application
7.4.3 Rest of North America Electric Vehicle Motor Market by Electric Vehicle Type
Chapter 8. Company Profiles
8.1 Mabuchi Motor Co., Ltd.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional Analysis
8.1.4 Recent strategies and developments:
8.1.4.1 Acquisition and Mergers:
8.2 Johnson Electric Holdings Limited
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Recent strategies and developments:
8.2.4.1 Product Launches and Product Expansions:
8.2.5 SWOT Analysis
8.3 Continental AG
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Product Launches and Product Expansions:
8.3.6 SWOT Analysis
8.4 Denso Corporation
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations and Agreements:
8.4.5.2 Product Launches and Product Expansions:
8.5 Magna International, Inc.
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expenses
8.5.5 Recent strategies and developments:
8.5.5.1 Acquisitions, Mergers, and Joint Ventures:
8.6 Robert Bosch GmbH
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 Recent strategies and developments:
8.6.5.1 Partnerships, Collaborations, and Agreements:
8.6.5.2 Acquisition and Mergers:
8.6.6 SWOT Analysis
8.7 MITSUBA Corporation
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expenses
8.8 Nidec Corporation
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expense
8.8.5 Recent Strategies and Developments:
8.8.5.1 Acquisitions and Mergers:
8.8.6 SWOT Analysis
8.9 Bühler Motor GmbH
8.9.1 Company Overview
8.10. Inteva Products, LLC (The Renco Group, Inc.)
8.10.1 Company Overview
TABLE 1 North America Electric Vehicle Motor Market, 2018 - 2021, USD Million
TABLE 2 North America Electric Vehicle Motor Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements – Electric Vehicle Motor Market
TABLE 4 Product Launches And Product Expansions – Electric Vehicle Motor Market
TABLE 5 Acquisition and Mergers – Electric Vehicle Motor Market
TABLE 6 North America Electric Vehicle Motor Market by Type, 2018 - 2021, USD Million
TABLE 7 North America Electric Vehicle Motor Market by Type, 2022 - 2028, USD Million
TABLE 8 North America AC Motor Market by Country, 2018 - 2021, USD Million
TABLE 9 North America AC Motor Market by Country, 2022 - 2028, USD Million
TABLE 10 North America DC Motor Market by Country, 2018 - 2021, USD Million
TABLE 11 North America DC Motor Market by Country, 2022 - 2028, USD Million
TABLE 12 North America Electric Vehicle Motor Market by Application, 2018 - 2021, USD Million
TABLE 13 North America Electric Vehicle Motor Market by Application, 2022 - 2028, USD Million
TABLE 14 North America Passenger Cars Market by Country, 2018 - 2021, USD Million
TABLE 15 North America Passenger Cars Market by Country, 2022 - 2028, USD Million
TABLE 16 North America Commercial Vehicles Market by Country, 2018 - 2021, USD Million
TABLE 17 North America Commercial Vehicles Market by Country, 2022 - 2028, USD Million
TABLE 18 North America Electric Vehicle Motor Market by Electric Vehicle Type, 2018 - 2021, USD Million
TABLE 19 North America Electric Vehicle Motor Market by Electric Vehicle Type, 2022 - 2028, USD Million
TABLE 20 North America Battery Electric Vehicle Market by Country, 2018 - 2021, USD Million
TABLE 21 North America Battery Electric Vehicle Market by Country, 2022 - 2028, USD Million
TABLE 22 North America Plugin Hybrid Vehicle Market by Country, 2018 - 2021, USD Million
TABLE 23 North America Plugin Hybrid Vehicle Market by Country, 2022 - 2028, USD Million
TABLE 24 North America Hybrid Vehicle Market by Country, 2018 - 2021, USD Million
TABLE 25 North America Hybrid Vehicle Market by Country, 2022 - 2028, USD Million
TABLE 26 North America Electric Vehicle Motor Market by Country, 2018 - 2021, USD Million
TABLE 27 North America Electric Vehicle Motor Market by Country, 2022 - 2028, USD Million
TABLE 28 US Electric Vehicle Motor Market, 2018 - 2021, USD Million
TABLE 29 US Electric Vehicle Motor Market, 2022 - 2028, USD Million
TABLE 30 US Electric Vehicle Motor Market by Type, 2018 - 2021, USD Million
TABLE 31 US Electric Vehicle Motor Market by Type, 2022 - 2028, USD Million
TABLE 32 US Electric Vehicle Motor Market by Application, 2018 - 2021, USD Million
TABLE 33 US Electric Vehicle Motor Market by Application, 2022 - 2028, USD Million
TABLE 34 US Electric Vehicle Motor Market by Electric Vehicle Type, 2018 - 2021, USD Million
TABLE 35 US Electric Vehicle Motor Market by Electric Vehicle Type, 2022 - 2028, USD Million
TABLE 36 Canada Electric Vehicle Motor Market, 2018 - 2021, USD Million
TABLE 37 Canada Electric Vehicle Motor Market, 2022 - 2028, USD Million
TABLE 38 Canada Electric Vehicle Motor Market by Type, 2018 - 2021, USD Million
TABLE 39 Canada Electric Vehicle Motor Market by Type, 2022 - 2028, USD Million
TABLE 40 Canada Electric Vehicle Motor Market by Application, 2018 - 2021, USD Million
TABLE 41 Canada Electric Vehicle Motor Market by Application, 2022 - 2028, USD Million
TABLE 42 Canada Electric Vehicle Motor Market by Electric Vehicle Type, 2018 - 2021, USD Million
TABLE 43 Canada Electric Vehicle Motor Market by Electric Vehicle Type, 2022 - 2028, USD Million
TABLE 44 Mexico Electric Vehicle Motor Market, 2018 - 2021, USD Million
TABLE 45 Mexico Electric Vehicle Motor Market, 2022 - 2028, USD Million
TABLE 46 Mexico Electric Vehicle Motor Market by Type, 2018 - 2021, USD Million
TABLE 47 Mexico Electric Vehicle Motor Market by Type, 2022 - 2028, USD Million
TABLE 48 Mexico Electric Vehicle Motor Market by Application, 2018 - 2021, USD Million
TABLE 49 Mexico Electric Vehicle Motor Market by Application, 2022 - 2028, USD Million
TABLE 50 Mexico Electric Vehicle Motor Market by Electric Vehicle Type, 2018 - 2021, USD Million
TABLE 51 Mexico Electric Vehicle Motor Market by Electric Vehicle Type, 2022 - 2028, USD Million
TABLE 52 Rest of North America Electric Vehicle Motor Market, 2018 - 2021, USD Million
TABLE 53 Rest of North America Electric Vehicle Motor Market, 2022 - 2028, USD Million
TABLE 54 Rest of North America Electric Vehicle Motor Market by Type, 2018 - 2021, USD Million
TABLE 55 Rest of North America Electric Vehicle Motor Market by Type, 2022 - 2028, USD Million
TABLE 56 Rest of North America Electric Vehicle Motor Market by Application, 2018 - 2021, USD Million
TABLE 57 Rest of North America Electric Vehicle Motor Market by Application, 2022 - 2028, USD Million
TABLE 58 Rest of North America Electric Vehicle Motor Market by Electric Vehicle Type, 2018 - 2021, USD Million
TABLE 59 Rest of North America Electric Vehicle Motor Market by Electric Vehicle Type, 2022 - 2028, USD Million
TABLE 60 Key Information – Mabuchi Motor Co., Ltd.
TABLE 61 Key Information – Johnson Electric Holdings Limited
TABLE 62 Key Information – Continental AG
TABLE 63 key information – Denso Corporation
TABLE 64 Key Information – Magna International, Inc.
TABLE 65 key information – Robert Bosch GmbH
TABLE 66 Key Information – MITSUBA Corporation
TABLE 67 Key Information – Nidec Corporation
TABLE 68 Key Information – Bühler Motor GmbH
TABLE 69 Key Information – Inteva Products, LLC
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 4 SWOT Analysis: Johnson Electric Holdings Limited
FIG 5 SWOT Analysis: Continental AG
FIG 6 Recent strategies and developments: Denso Corporation
FIG 7 Swot analysis: Robert Bosch GmbH
FIG 8 SWOT Analysis: Nidec Corporation