Top Companies in Electric Vehicle Motor Market | Leading Companies in Electric Vehicle Motor Industry Size, Share, Segmentations

The Global Electric Vehicle Motor Market is valued at USD 5.4 Billion in 2021 and is projected to reach a value of USD 47.2 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 20.8% over the forecast period.

Top Companies in Electric Vehicle Motor Market | Leading Companies in Electric Vehicle Motor Industry Size, Share, Segmentations
electric vehicle motor market

Market Overview:

The Global Electric Vehicle Motor Market is valued at USD 5.4 Billion in 2021 and is projected to reach a value of USD 47.2 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 20.8% over the forecast period. The main factors influencing the Electric Vehicle Motor Market are advancements in the field of electric vehicles as well as an expansion of governmental regulations and guidelines regarding vehicular emissions. However, the high initial cost of an electric engine and the high ongoing maintenance expenses associated with an electric engine restrain the market growth. Despite these obstacles, mechanical developments like the creation of energy-efficient engines are anticipated to support market growth in the near future. Additionally, a flurry of government initiatives involving electric vehicles will undoubtedly create several opportunities for industry expansion.

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Some of the key players operating in the Electric Vehicle Motor Market are listed below:

Company Name

Revenue in USD

  • YASKAWA Electric

$4 Billion

  • GKN Driveline

$11 Billion

  • Toshiba Corporation

$25 Billion

  • Continental Resources, Inc.

$6 Billion

  • DENSO Corporation

$64 Billion

  • Hitachi Automotive Systems Steering Ltd.

<$5 Million

  • ABB

<$5 Million

  • Toshiba

$25 Billion

  • Teco Electric & Machinery Co. Ltd.

$1 Billion

  1.  Yasakawa Electric

YASKAWA Electric Corporation offers direct drive servo motors, rotary servo motors, machine controllers, linear motors/linear sliders, servo amplifiers, and positioning sensor encoders for use in semiconductor manufacturing apparatus, industrial robots, flat panel display manufacturing equipment, machine tools, and metalworking machines. Motion control, robotics, system engineering, and other businesses are all conducted globally by YASKAWA Electric Corporation.

  1. GKN Driveline

GKN Automotive's market-leading Driveline division demonstrates strength in depth, with an extensive portfolio of products that combine value with technical expertise. The technologies range from low-cost, high-volume automobiles to high-end luxury vehicles with intricate all-wheel drive driving dynamics. In 1988, GKN opened a manufacturing facility in China. In parallel, GKN Driveline made investments and expanded its operations in Mexico, Brazil, and India.

  1. Toshiba

The Toshiba Corporation and its subsidiaries offer electrical products and storage options worldwide. Its segments include Building Solutions, Retail and Printing Solutions, Electronic Devices and Storage Solutions, Digital Solutions, and Others. It also operates through Energy Systems and Solutions, Infrastructure Systems and Solutions, and Energy Systems and Solutions. The business offers transmission and distribution, hydro, geothermal, solar, and wind power services, as well as energy systems and solutions, including nuclear, thermal, and renewable energy power generation systems.

  1. Continental

Specifically in the north, south, and east of the United States, Continental Resources, Inc. searches for, develops, produces, and manages crude oil, natural gas, and related products. Companies that market energy, refine crude oil, and gather and process natural gas are the recipients of the company's natural gas and crude oil production. Its proved reserves totaled 1,645 million barrels of simple oil equivalent (MMBoe) as of December 31, 2021, and its proved developed reserves totaled 908 MMBoe. The business was established in 1967, and Oklahoma's capital city serves as its base of operations.

  1. Denso

Automotive parts are developed, produced, and sold by DENSO Corporation throughout Japan, the rest of Asia, North America, Europe, and other countries. It provides heating, ventilation, and air-conditioning units and systems, including heat pump air-conditioning systems, control system and refrigerant products, air-conditioning system heat exchangers, air-conditioning bus systems, automotive freezers, and cooling products.

  1. Hitachi Automotive Systems

Hitachi Automotive Systems Steering Ltd. designs produces and sells automotive components. The Company principally makes power steering, steering pumps, steering gears, and electric & hydraulic power steering systems. Hitachi Automotive Systems Steering provides its products for usage in cars, trucks, and other forms of transportation equipment.

  1. ABB

Founded in the late 19th century, the ABB Company was created out of the merger of two old industrial companies: ASEA and BBC. ABB is a global supplier of automation products and electrical equipment. The company is the number-one or number-two supplier in all of its core markets and the number-two robotic arm supplier globally.

  1. Toshiba

Founded in 1875, Toshiba is Japan's largest semiconductor manufacturer and its second-largest diversified industrial conglomerate. The company is the second-largest manufacturer of NAND flash memory, with a market share of 16.5% in 2017, and it concentrates business resources in this area.

  1. Teco Electric & Machinery Co. Ltd.

Teco Electric & Machinery Co. Ltd. is a Taiwan-based company that manufactures and services motors, home appliances, and other industrial equipment and components. The company’s Heavy industrial products, the extensive product line by revenue contribution, are used in fluid machinery, elevators, cranes, petrochemical machinery, rolling mills, pumps, and other machinery. The company’s home appliance offerings comprise air conditioners, refrigerators, washing machines, televisions, air purifiers, and others. In addition, the company also provides automation products such as converters, servo controllers, and circuit breakers. The company generates the majority of its sales from Taiwan.

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