Automotive Axial Flux Motor Market Growth, Trends and Forecast to 2027 – Techsci Research

MANHATTAN, N.Y. - Feb. 14, 2023 - PRLog -- The International Energy Agency's (IEA) Global Electric Vehicle Outlook reported that in 2021, electric vehicle sales reached 6.6 million, indicating a shift towards electric vehicles as a solution to environmental issues. This has a positive impact on the growth of the automotive axial flux market, as axial flux motors are predominantly used in electric vehicles due to their small size, light weight, and efficiency. Additionally, axial flux motors are comparable to turbocharged engines in terms of internal combustion engines, but require strong hardware and electromagnetic motor designs. In order to expand motor production, Mercedes acquired YASA, a manufacturer of axial flux motors, in 2022, and Belgian company Magnax raised 20 million euros in August 2022 for axial flux motor development and manufacturing. 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, in November 2021.

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.

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