EV eMotor Market is Forecasted to Reach US$23.9 Billion in 2031, Says Stratview Research

Detroit, July 16, 2025 (GLOBE NEWSWIRE) -- The global EV eMotor market size was valued at US$11.1 billion in 2024 and is projected to reach US$23.9 billion by 2031, witnessing a market growth CAGR of 10.7% from 2024 to 2031, according to an analysis by Stratview Research.

Stratview Research, a global market research firm, has launched a report on the global EV eMotor market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:

https://www.stratviewresearch.com/Request-Sample/3971/ev-emotor-market.html#form

Market Statistics

Segment Insights & Market Share Analysis of the EV eMotor Market:

The global EV eMotor market is segmented based on vehicle type, EV type, technology type, number of motors type, integration type, and region.

Based on Technology type –

• The market is segmented into PMSM, IM, and other technologies. PMSM is projected to continue as the leading technology category of the EV eMotors market throughout the forecasted period. PMSMs (permanent magnet synchronous motors) offer high efficiency and increased power output, making them ideal for maximizing a vehicle’s performance and range. These motors provide precise torque control and consistent performance, enhancing the driving experience and stability in various conditions.
• PMSMs are the preferred choice for automakers due to their reliable technology, long-lasting durability, and capability to support the evolving demands of modern EVs.

Based on EV type –

• The market is segmented into BEV and HEV. HEV is the dominant category of the EV eMotors market, whereas BEVs are expected to experience faster growth during the forecast period. eMotors in HEVs (hybrid electric vehicles) are not the primary source of power, resulting in lower power requirements and making them a more cost-effective solution.
• The reduced power demands help decrease manufacturing costs for eMotors used in HEVs, supporting their increasing market penetration. Since eMotors in HEVs primarily serve an assisting role, manufacturers can maintain lower production costs while still enhancing vehicle efficiency. This cost advantage contributes to the growing adoption of HEVs, strengthening their market share in the evolving automotive landscape.

To know the most attractive segments, click here for a free sample of the report:

https://www.stratviewresearch.com/Request-Sample/3971/ev-emotor-market.html#form

Which region shows the most promising growth forecast and opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest market. This growth outlook is majorly attributed to the following: 

• Higher EV adoption in countries like China, Japan, and South Korea is driven by government subsidies and policies; the region is home to major EV and e-motor manufacturers, ensuring cost-effective production.
• Rising consumer demand for electric vehicles, fueled by environmental concerns and fuel savings.
• Technological advancements in motor efficiency, battery technology, and power electronics.
• Rapid expansion of EV charging infrastructure and government investments in green mobility are key factors solidifying the region’s dominance in the EV eMotor market.

Likewise, Europe is estimated to remain the second-largest region for the EV eMotors market due to its strong commitment to sustainability, government incentives, and strict emissions regulations that promote EV adoption. The presence of major automakers and suppliers in the region further strengthens its market position by driving innovation and enhancing manufacturing capabilities.

EV eMotor Market Drivers:

Some of the key drivers listed in the report are given below.

• Increasing global sales of electric vehicles directly impact the demand for electric motors, as each EV requires at least one motor, with some models featuring multiple motors.
• Improvements in motor efficiency, power density, and thermal management enhance EV performance and contribute to market growth.
• Lower battery prices make EVs more affordable, encouraging adoption and boosting demand for electric motors.
• Government policies & incentives and mandates for EV adoption drive the demand for electric motors.
• Expanding EV infrastructure increases consumer confidence in EVs, which drives EV sales and, in turn, increases the demand for electric motors.

Competitive Landscape: Top Companies in the EV eMotor Market:

The market is moderately concentrated, with more than 50 players across the region. Most of the major players compete in some of the governing factors, including price, service offerings, regional presence, etc. The following are the key players in the EV eMotors market. Some of the major players provide standalone eMotors as well as eAxles integrated with eMotors, inverters, and reducers. Stratview Research has identified the following companies as the top market players:

• Tesla, Inc.
• BYD Auto Co., Ltd.
• Volkswagen AG
• Valeo SA
• Nidec Corporation
• Dana Incorporated
• ZF Friedrichshafen AG

What Deliverables Will You Get in This Report?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

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About us –

Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

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