Development in research & development of axial flux motor and upsurge in the demand for zero emission electric vehicles is expected to drive the growth of global automotive axial flux motor market during the forecast period, 2022-2027.
According to TechSci Research report, “Automotive Axial Flux Motor Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027F”, Global Automotive Axial Flux Motor Market was valued USD 108 Million in 2021 and is predicted to grow at CAGR of 29.80% through 2027 as it has the potential to replace radial motors owing to their power efficiency, compact size, and high torque specification.
The geometry of an axial flux motor is distinct from that of a radial motor. It uses the same electrical components as radial flux motors but produces better torque and power density. In axial flux motors, the magnetic flux direction is parallel to the motor rotation axis, but in radial flux motors, the magnetic flux direction is radial. Nearly every operating principle, including brushed DC, induction, and stepper motors, can be used in axial geometry. Axial flux motors are sometimes referred to as flat motors due to their extremely low axial length-to-diameter ratio.
In order to address environmental issues, electric vehicles are considered alternatives to conventional automobiles with combustion engines. Automotive electric car sales reached 6.6 million in 2021, according to the Global Electric Vehicle Outlook from the International Energy Agency (IEA). Axial-flux motors are majorly used in electric vehicles. Since they are small, light, and efficient, axial flux motors are ideal for use in electric vehicles. Overall, this has a positive impact on the future growth of the automotive axial flux market. Furthermore, in terms of internal combustion engines, axial flux motors are comparable to turbocharged engines. Strong hardware and electromagnetic motor designs are needed for axial flux motors. Moreover, in 2022, Mercedes acquired YASA, a producer of axial flux motors, in order to start a new motor production line. Moreover, Magnax, a Belgian company, raised 20 million euros in August 2022 for the development and manufacturing of axial flux motors. In November 2021, in order to create axial flux motors on a large scale, the Renault Group purchased a 21% minority investment in Whylot, a maker of vehicle e-motors.
Browse more than 174 market data Figures spread through 220 Pages and an in-depth TOC on "Automotive Axial Flux Motor Market"
Axial flux motors are perfect for commercial machinery such as industrial robots, pumps, compressors, electrical vehicles, and drones due to their small size and high-power density. Axial flux motors produce 30–40% greater torque and have a higher power density than radial motors of equal size. Axial flux motors, and in particular the yokeless version, are anticipated to capture an ever-increasing share of the expanding electric motor market.
The Asia-Pacific region being the largest market for electric vehicles is expected to register a high CAGR during the forecast period. Moreover, European region having majority of shares dominate the market. On the basis of vehicle type, passenger car segment is dominating the market currently owing to global rise in electric passenger vehicle sales. Majority of market is covered by battery electric vehicles followed by plug-in hybrid electric vehicles. Based on demand category, OEM is expected to dominate the global automotive axial flux motor market.
The global automotive axial flux motor market can be segmented on the basis of vehicle type, propulsion, demand category, and region. Based on vehicle type, the market is further segmented into passenger car, light commercial vehicle, medium & heavy commercial vehicle, and two wheeler. Based on propulsion type, the market is further split into BEV, HEV, and PHEV. Based on demand category, the market is divided into OEM, Aftermarket. On the basis of region, the market is divided among Asia-Pacific, Europe & CIS, North America, South America, Middle East & Africa.
Some of the major companies operating in the Global Automotive Axial Flux Motor Market include:
- Whylot Electromechanical Solutions
- Emrax D.o.o.
- Lucchi R. E Motor Solution
- Agni Motors Ltd.
- YASA Limited
- Magnax BV
- Saietta Group Plc
- Turntide Technologies
- Maglec Propulsion Ltd
- Dana TM4
These are the key players developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers with tech firms, new product developments, and marketing activities to increase customer outreach.
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“The demand for the automotive axial flux market is expected to increase in the next few years owing to significant companies investing in the technology and rising sales of electric vehicles in several nations. Europe and the CIS region is expected to continue to lead by 2027, but Asia-Pacific will register a high CAGR owing to the region's significant sales of electric vehicles,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Press Release : https://www.techsciresearch.com/news/6910-automotive-arial-flux-motor-market.html
“Automotive Axial Flux Motor Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027F, Segmented By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two Wheeler, Two Wheeler), By Propulsion (BEV, HEV, PHEV), By Demand Category (OEM, Aftermarket), By Region, Competition” has evaluated the future growth potential of Global Automotive Axial Flux Motor Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Automotive Axial Flux Motor Market.
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