New York, Dec. 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Axial Flux Motor Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027" - https://www.reportlinker.com/p06377459/?utm_source=GNW
The global automotive axial flux motor market is anticipated to witness a growth of robust CAGR in the forecast period, 2023-2027. Rise in adoption of axial flux motors in various industries and electric vehicles, increase in production and sales of electric vehicles, and growing advancements in motor technology are the primary factors driving the growth of the global automotive axial flux motor market in the forecast period.
Increased Sales and Production of Electric Vehicle
The rise in awareness about the effect of greenhouse emissions on the environment, such as rapid climatic change and elevated temperature, is driving the adoption of green energy.The electric vehicle is a zero-emission vehicle and does not harm the environment as it runs on electricity rather than fossil fuels which produce harmful pollutants as a by-product.
Therefore, growing environmental awareness among consumers is driving the sales and production of electric vehicles. In 2021 around 5.6 million units of EVs were sold across the world. The electric vehicle market is at a nascent stage, but in the coming years, it is expected to massive demand from worldwide, which is expected to boost the global automotive Axial flux motor market growth. Automotive Axial flux is a necessary part of the transmission assembly and is used in electric vehicles as it provides better control to the driver. Automotive Axial flux motor can be used in all types of electric vehicles, including two-wheeler, passenger car, light commercial vehicle (LCV), and medium & heavy commercial vehicle (M&HCV).
Advancements in Technology Boosts the Market Demand
Market players are making high-end investments to upgrade the existing infrastructure and find innovative solutions to reduce the motor size and increase the performance and efficiency of the Axial flux motor to stay ahead in the market.Electric vehicle manufacturers are introducing variants of electric vehicles differing in color, battery capacity, fuel mileage, and seating capacity to attract more customers and boost their sales.
The United States witnessed huge sales of electric vehicles as a consumer are highly aware of the growing pollution levels, use of advanced technology in the manufacturing process, and presence of major market players are expected to bolster the market growth in the forecast period.The development of supportive infrastructure to promote the adoption of electric vehicles among consumers and an increase in collaborations and partnerships among the electric vehicle manufacturers and technology-based companies is expected to create lucrative opportunities for the global automotive Axial flux motor market in the forecast period.
Such as, Renault has partnered with WHYLOT to use Axial flux motors in their hybrid model starting from 2025.
Rise In Demand for High Performance Motor
Axial flux motors are compact and have a high-performance density, making them suitable for use by various industries in industrial machines and electrical devices, compressors, pumps, and industrial robots, among others.Axial flux motor uses a high amount of power density and torque compared to the other motors by using the same amount of current.
This motor runs for a long time, which makes the Axial flux motor cost-effective. With growing advancements in technology and the introduction of novel Axial flux motor by the market players having superior characteristics is expected to accelerate the demand for the global automotive Axial flux motor market.
Market Segmentation
The global automotive Axial flux motor market is segmented based on vehicle type, propulsion, demand category, regional distribution, and company.Based on the vehicle type, the global automotive Axial flux motor market is divided into Two-Wheeler, passenger car, light commercial vehicle (LCV), medium & heavy commercial vehicle (M&HCV).
Based on propulsion, the global automotive Axial flux motor market is divided into BEV, HEV, and PHEV.Based on the demand category, the global automotive Axial flux motor market is divided into OEM and aftermarket.
To analyze the market based on the region, the global automotive Axial flux motor market is studied in major regions namely North America, Asia-pacific, Europe & CIS, South America, Middle East and Africa.
Market Players
AVID Technology Limited, Magnax BV, YASA Limited, Traxial BV, Nidec Corporation, Saietta Group, are among the major market players in the global platform that lead the market growth of the global automotive Axial flux motor market.
Report Scope:
In this report, global automotive Axial flux motor market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Automotive Axial Flux Motor Market, By Vehicle Type:
o Two-Wheeler
o Passenger Car
o Light Commercial Vehicle (LCV)
o Medium & Heavy Commercial Vehicle (M&HCV)
• Automotive Axial Flux Motor Market, By Propulsion:
o BEV
o HEV
o PHEV
• Automotive Axial Flux Motor Market, By Demand Category:
o OEM
o Aftermarket
• Automotive Axial Flux Motor Market, By Region:
o North America
United States
Canada
Mexico
o Asia-Pacific
China
India
Japan
Malaysia
Thailand
Indonesia
Vietnam
South Korea
o Europe & CIS
Germany
France
United Kingdom
Spain
Italy
Belgium
Russia
o South America
Brazil
Argentina
Colombia
o Middle East & Africa
South Africa
Iran
Turkey
Egypt
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global automotive Axial flux motor market.
Available Customizations:
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06377459/?utm_source=GNW
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