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The electric vehicle motor market is projected to grow by 6.8x by 2032. China electric vehicle motor market is projected to create an incremental opportunity of more than US$ 86.5 Bn in the upcoming decade. Total sales of EV motors in the Germany are projected to grow by 6.2x
NEWARK, Del. , Oct. 14, 2022 /PRNewswire/ -- The global electric vehicle motor market is worth US$ 8.68 Bn as of now and expected to reach US$ 18.09 Bn by the year 2032 at a CAGR of 8.5% between 2022 and 2032.
Electric vehicles are being increasingly asked for due to strict government regulations regarding carbon emissions. As per the European Climate Foundation, employment, with the expansion of electric vehicles, would cross 850K by the year 2030. Thus, increasingly adopting high-performance motors in the electric vehicles is bound to take the electric vehicle motor market to a new 'High' in the forecast period.
At the same time, high maintenance costs coupled with higher initial costs on the part of electric motor are bound to restrain the market going forward.
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Though there are complexities involved, the electric vehicles are helpful in the long run. As renewable energy resources are depleting, electric vehicles are a good alternative. Electric vehicle motor market is an ancillary market to electric vehicles market. With exorbitant demand for electric vehicles, the electric vehicle motor market is expected to grow on an unstoppable note in the years to come. Future Market Insights has etched these findings with future perspectives in its latest market study entitled "Electric Vehicle Motor Market".
Key Takeaways from Electric Vehicle Motor Market
Browse Detailed Summary of Research Report with TOC: https://www.futuremarketinsights.com/reports/electric-vehicle-drive-motor-market
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Key Segments Covered in Electric vehicle motor Industry Analysis
What does the Report Cover?
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.5. Analysis and Recommendations
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
5. Global Electric Vehicle Motor Market Demand Analysis 2017–2021 and Forecast, 2022–2032
5.1. Historical Market Volume ('000 Units) Analysis, 2017–2021
5.2. Current and Future Market Volume ('000 Units) Projections, 2022–2032
5.3. Y-o-Y Growth Trend Analysis
6. Global Electric Vehicle Motor Market - Pricing Analysis
6.1. Regional Pricing Analysis By Product Type
6.2. Global Average Pricing Analysis Benchmark
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About FMI – Automotive and Transportation
The Automotive and Transportation division of FMI provides exclusive coverage and actionable insights about automotive and transportation industry encompassing automotive, aviation, shipping and marine, and railway sectors. Market findings and competition intelligence of OEM, aftermarket, services and technology landscape have helped numerous industry stakeholders' right from automakers, component manufacturers, channel partners and service providers in taking informed decisions and keeping them up-to-date with market behaviour.
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The global electric vehicle battery market is set to strengthen its market hold in global market at a promising CAGR of 8.5%, while it is forecasted to hold a revenue of USD 18.09 Billion in 2032: https://www.futuremarketinsights.com/reports/electric-vehicle-battery-market
The sales of electric bikes are expected to increase at a CAGR of 10% during the forecast period. The electric bike market size is anticipated to rise from US$ 52.05 Bn in 2022 to US$ 122.1 Bn in 2032: https://www.futuremarketinsights.com/reports/electric-bike-market
The global Plug-in Hybrid Electric Vehicles market is set to enjoy a valuation of US$ 120.87 Bn in 2022, and further expand at a CAGR of 8.6% during 2022-2032: https://www.futuremarketinsights.com/reports/plug-in-hybrid-electric-vehicles-phev-market
Sales of electric cargo bikes is likely to exceed a valuation of US$ 3.15 Billion by 2032. Demand for electric cargo bikes is likely to grow at a CAGR of 7.7% through 2032.: https://www.futuremarketinsights.com/reports/electric-cargo-bikes-market
Sales of EV tires are projected to increase at 12% -14% CAGR over the next ten years (2021-2031). North America is projected to be one of the most lucrative markets for EV tires: https://www.futuremarketinsights.com/reports/ev-tires-market
ABOUT FUTURE MARKET INSIGHTS, INC.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA . A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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