United States Electric Motors for Vehicles Market was valued at USD 4.2 Billion in 2022 and is projected to reach USD 9.5 Billion by 2030, growing at a CAGR of 10.8% from 2024 to 2030.
The US Electric Motors for Vehicles Market has witnessed tremendous growth in recent years, driven by the surge in demand for electric vehicles (EVs) and the growing environmental concerns around traditional combustion engines. As automotive industries focus on decarbonizing their fleets and meeting stringent emissions regulations, electric motors have become a crucial component for future mobility solutions. The US market, in particular, is poised to lead this transformation, with both OEMs (Original Equipment Manufacturers) and suppliers investing heavily in the development of advanced electric motor technologies.
Electric motors for vehicles are categorized into two primary types: Permanent Magnet Synchronous Motors (PMSM) and Induction Motors (IM). PMSMs are increasingly favored in electric vehicle design due to their high efficiency, compact size, and ability to provide higher power output with reduced energy consumption. Induction motors, on the other hand, are recognized for their robustness and relatively low manufacturing cost, making them suitable for mass-market vehicles. These motor types cater to different segments of the electric vehicle industry, ranging from luxury EVs to budget-friendly models.
The demand for electric motors is also being fueled by the requirements of various industries beyond automotive. For instance, industries involved in heavy-duty transport, such as buses, trucks, and logistics, are also adopting electric propulsion systems, thus creating additional market opportunities. With businesses looking to replace traditional internal combustion engine vehicles with cleaner alternatives, industries like logistics, public transportation, and fleet services are driving innovation in electric motor technology.
Furthermore, the growing importance of reducing greenhouse gas emissions and cutting down on fossil fuel dependence plays a pivotal role in the electric motors for vehicles market. As governments and regulators ramp up environmental policies and carbon reduction targets, the requirement for highly efficient electric motors becomes even more urgent. This shift is not just limited to passenger cars but extends across commercial vehicle fleets and public transportation networks.
In addition to government incentives and green energy initiatives, the increasing awareness among consumers about sustainable driving is also contributing to the rising adoption of electric vehicles. As the cost of electric motors decreases with advancements in technology, manufacturers are likely to face growing pressure to deliver more affordable, efficient, and long-lasting solutions for a broader consumer base.
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Toshiba
Allied Motion Technologies
Ametek Inc ARC Systems
Baldor Electric
Bosch
Denso
Emerson Electric
Faulhaber Group
Johnson Electric Holding
Maxon Motor AG
Siemens AG
ALABC/ILA
Controlled Power Technologies CPT Ltd UK
Elaphe
MAHLE GmbH
Protean Electric
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Electric Motors for Vehicles Market
Brushed DC Motors
Brushless DC Motors
Battery Electric Vehicles (BEVs)
Hybrid Electric Vehicles (HEVs)
Plug-in Hybrid Electric Vehicles (PHEVs)
Fuel Cell Electric Vehicles (FCEVs)
Power Steering
Air Conditioning
Braking Systems
Low Power Output (up to 50 kW)
Medium Power Output (51 kW to 150 kW)
High Power Output (above 150 kW)
OEMs (Original Equipment Manufacturers)
Aftermarket Suppliers
Fleet Operators
Individual Consumers
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Electric Motors for Vehicles Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Electric Motors for Vehicles Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Electric Motors for Vehicles Market, By Type
6. US Electric Motors for Vehicles Market, By Application
7. US Electric Motors for Vehicles Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Electric Motors for Vehicles Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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