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  • In 2022, the global electric vehicle motor market size was valued at about US$ 58.1 billion. Overall sales are predicted to grow at an impressive CAGR of 21.2%, reaching a value of nearly US$ 396.3 Billion by 2032, according to the electric vehicle motor market analysis by FMI.

    Key Takeaways from Electric vehicle motor market Study

    As per the previous electric vehicle motor market report, the demand for electric vehicle motors grew at a 20% CAGR from 2017 to 2021 and is anticipated to expand at a 21.2% CAGR over the projected period.
    By following this average growth rate, the absolute growth of the global electric vehicle motor market is estimated to be around US$ 11.5 Billion over the next ten years.
    Owing to the rapid expansion of the electric vehicle industry, the Asia Pacific region represents a high potential electric vehicle motor market. By 2032, the said market is expected to increase 6.8 times.
    By 2021, the US accounted for almost 91% of the North American market for electric drive units for a vehicle. Moreover, by 2032, this market, which has 89.7% of the market share, is projected to lose 162 BPS points.
    As per the electric vehicle motor market survey, more than 83% of all EV motor sales worldwide are powered by AC motors. And, 14.3% of the worldwide electric vehicles contain EV drive motors, including BEVs, HEVs, and PHEVs.

    To comply with pollution control standards, governments in emerging economies are also offering subsidies and other incentives for the manufacturing and use of electric cars. These days, customers are favoring electric vehicles as battery and hybrid models become more fuel-efficient, which has been observed to create vast amounts of electric vehicle motor market opportunities.

    The need for electric drive motors for car is rising quickly as more electric vehicles are produced and used globally. Further, electric vehicle drive motor sales have been gaining traction recently due to their advantages, including quiet operation, the capacity to control pollution, and decreased fuel usage.

    The United States EV drive motor market is lagging behind other industrialized countries with significant economies like China and Europe, where electric vehicle drive motor sales are just a third and a half as high, respectively.

    For more information:
    https://www.futuremarketinsights.com/reports/electric-vehicle-drive-motor-market
    Competitive Landscape for the Global Electric vehicle motor market

    Some of the well-known electric vehicle motor market players are Tesla Inc., Aisin Seiki Co Ltd, Bosch Mobility, Siemens AG, Nidec Motor Corporation, ABB Ltd, Toshiba Corporation, Magna International, Mitsubishi Electric, Hitachi Astemo, Parker Hannifin Corp., Delta Electronics Inc., BYD, Mahle GmBH, and Vitesco Technologies among others.

    Key competitors in the global market for electric vehicles are focusing on enhancing the motors' efficiency through research and design development. To increase sales of electric vehicle drive motor, they are also forming alliances and working together with OEMs to source better raw materials at competitive price and enhanced market presence.

    Key Segments Covered in Electric vehicle motor Industry Analysis

    By Product Type:

    AC
    DC
    By Power:

    Up to 100kW
    101-200kW
    Above 200kW
    By EV Type:

    BEV
    HEV
    PHEV
    Recent Developments in the Global Electric vehicle motor market:

    The Indian government intends to do away with licenses for the manufacturing and use of electric vehicles that is predicted to boost the demand for electric vehicle drive motor in the country.
    In the previous year the Chinese government said that it would invest roughly US$ 600 Billion to encourage electric vehicles.
    In 2022, the global electric vehicle motor market size was valued at about US$ 58.1 billion. Overall sales are predicted to grow at an impressive CAGR of 21.2%, reaching a value of nearly US$ 396.3 Billion by 2032, according to the electric vehicle motor market analysis by FMI. Key Takeaways from Electric vehicle motor market Study As per the previous electric vehicle motor market report, the demand for electric vehicle motors grew at a 20% CAGR from 2017 to 2021 and is anticipated to expand at a 21.2% CAGR over the projected period. By following this average growth rate, the absolute growth of the global electric vehicle motor market is estimated to be around US$ 11.5 Billion over the next ten years. Owing to the rapid expansion of the electric vehicle industry, the Asia Pacific region represents a high potential electric vehicle motor market. By 2032, the said market is expected to increase 6.8 times. By 2021, the US accounted for almost 91% of the North American market for electric drive units for a vehicle. Moreover, by 2032, this market, which has 89.7% of the market share, is projected to lose 162 BPS points. As per the electric vehicle motor market survey, more than 83% of all EV motor sales worldwide are powered by AC motors. And, 14.3% of the worldwide electric vehicles contain EV drive motors, including BEVs, HEVs, and PHEVs. To comply with pollution control standards, governments in emerging economies are also offering subsidies and other incentives for the manufacturing and use of electric cars. These days, customers are favoring electric vehicles as battery and hybrid models become more fuel-efficient, which has been observed to create vast amounts of electric vehicle motor market opportunities. The need for electric drive motors for car is rising quickly as more electric vehicles are produced and used globally. Further, electric vehicle drive motor sales have been gaining traction recently due to their advantages, including quiet operation, the capacity to control pollution, and decreased fuel usage. The United States EV drive motor market is lagging behind other industrialized countries with significant economies like China and Europe, where electric vehicle drive motor sales are just a third and a half as high, respectively. For more information: https://www.futuremarketinsights.com/reports/electric-vehicle-drive-motor-market Competitive Landscape for the Global Electric vehicle motor market Some of the well-known electric vehicle motor market players are Tesla Inc., Aisin Seiki Co Ltd, Bosch Mobility, Siemens AG, Nidec Motor Corporation, ABB Ltd, Toshiba Corporation, Magna International, Mitsubishi Electric, Hitachi Astemo, Parker Hannifin Corp., Delta Electronics Inc., BYD, Mahle GmBH, and Vitesco Technologies among others. Key competitors in the global market for electric vehicles are focusing on enhancing the motors' efficiency through research and design development. To increase sales of electric vehicle drive motor, they are also forming alliances and working together with OEMs to source better raw materials at competitive price and enhanced market presence. Key Segments Covered in Electric vehicle motor Industry Analysis By Product Type: AC DC By Power: Up to 100kW 101-200kW Above 200kW By EV Type: BEV HEV PHEV Recent Developments in the Global Electric vehicle motor market: The Indian government intends to do away with licenses for the manufacturing and use of electric vehicles that is predicted to boost the demand for electric vehicle drive motor in the country. In the previous year the Chinese government said that it would invest roughly US$ 600 Billion to encourage electric vehicles.
    WWW.FUTUREMARKETINSIGHTS.COM
    Electric Vehicle Motor Market
    [288 Pages Report] Electric Vehicle Motor Market is anticipated to increase at a high CAGR of 21.2% (2022-2032), reaching a value of about US$ 396.3 Bn by 2032 - FMI
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  • The global automotive wheel bearing aftermarket size is set to witness an impressive growth rate of 4% over the forecasted years of 2022 to 2032. The contact market size is anticipated to reach a valuation of around US$ 58.8 Billion by the end of year 2032 from the current valuation of US$ 39.75 Billion in 2022.

    Key Takeaways from Automotive Wheel Bearing Aftermarket Study

    The overall growth of the global automotive wheel bearing aftermarket is estimated to be around US$ 19 Billion over next ten forecast years ending in 2032, by following the global CAGR of 4%.
    According to the different end use applications of automotive wheel bearing, the segment with the fastest-growing vehicle type by far is the passenger automobile.
    As in automobile industry, there has been an impressive growth in demand for thrust bearings in last couple of years.
    On the basis of components, the automotive wheel bearing aftermarket is now led by tapered roller bearing, and this position is expected to hold during the projected period.
    South Asia and Pacific countries are the dominating markets for the sales of automotive wheel bearing with growing volume of automobile market.
    The worldwide growth of the automobile sector can be regarded as the major factor having a strong positive impact on the aftermarket for automotive wheel bearings. The manufacturing of passenger, luxury, commercial, and other types of cars is also increasing, which is causing a significant increase in demand for automobile wheel bearings across all nations.

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    On a different dimension, as automated driving systems are entirely controlled by sensors, there is a strong demand for automotive wheel bearing in this industry as well. As ball thrust bearings are often employed for low speed, non-precision applications, they are needed for mostly in agriculture and transport vehicles as typically these run comparatively at low speeds in the fields.

    This type of automotive ball bearings support axial stresses in both directions when used in back-to-back pairs. The need for tapered roller bearings is also anticipated to increase more in the next years as the automotive sector is anticipated to expand.

    Competitive Landscape for the Global Automotive Wheel Bearing Aftermarket

    Some of the well-known contact automotive wheel bearing aftermarket players are Federal – Mogul Corporation (Tennenco Inc.), Schaeffler AG, Mahle GmbH, Continental AG, The Timken Company, NSK Ltd., JTEKT Corp, NTN Corporation, Rheinmetall AG, NRB Bearings Ltd., Nachi – Fujikoshi Corp., MinebeaMitsumi Inc., and Wafangdian Bearing Group Corporation among others.

    As the automotive market is well developed in almost all parts of the world so the automotive wheel bearing market is highly fragmented. Thus mergers and acquisitions are a very common feature in this sector. For instance, Drake Manufacturing Services. Co. LLC was bought by CW Bearings USA, Inc. in the year 2017. The business was able to join the Machine Tools sector thanks to the purchase.

    Shortly after, the global market saw the acquisition of ABC Bearings Ltd., an Indian manufacturer of conical or tappered, circular or round roller bearings as well as slewing rings, by Timken India Ltd, which is a division of The Timken Company.

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    Light Commercial Vehicle
    Heavy Commercial Vehicle
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    Precision Ball Bearing
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    Tapered Roller Bearing
    Others
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    WWW.FUTUREMARKETINSIGHTS.COM
    Automotive Wheel Bearing Aftermarket
    [306 Pages Report] Automotive Wheel Bearing Aftermarket is forecasted to register a 4 % CAGR during the forecast period & projected to reach US$ 58.8 Billion by 2032
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  • The railway engine market is anticipated to thrive at an average CAGR of 4.8% between 2023 and 2033. The market is anticipated to reach a market share of US$ 41.06 billion by 2033, while it holds a revenue of US$ 25.6 billion in 2023.

    Key Points

    The U.S. market is the biggest for railway engine technology, including freights, loaders, and generators. The U.S. market holds a share of 19.7% of the global share.
    The Indian market thrives at the highest CAGR of 6.0% during the forecast period. The market thrives on technological advancements and the government’s transformation of railways.
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    Chinese market thrives on a CAGR of 5.4% between 2023 and 2033.
    The electric segment is expected to thrive in the propulsion category due to its sustainable model and cheaper operational cost. It holds a major share of 56.8% in the global market.
    - Advanced hydrogen, electric, and hybrid engines are in high demand as they are fast, efficient, and cheaper than diesel engines, pushing vendors to adopt alternate fuel technologies.

    - The restoration of the trade and travel and tourism industries and government railway operations helped the market. Furthermore, research activities and trial runs of hydrogen and electric locomotives are likely to fuel the demand for railway engines.

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    Competitive Landscape

    Key competitors try to make their engines durable, technologically advanced, and efficient. Furthermore, the futuristic approach and digitized transmission open the gate for startups and new technology. Hydrogen-based rail hydrail is likely to expand the market size.

    Key players in the market are Bombardier Transportation (Canada), Alstom (France), Hitachi Ltd (U.K.), AEG Power Solutions (Netherlands), Siemens Mobility (Germany), Wabtec Corporation (U.S.), Toshiba International Corporation (U.S.), CZ LOKO, A.S. (Czech Republic), CRRC Corporation Limited (China), and Hyundai Corporation (South Korea).

    For instance:

    In 2022, France-based locomotive co. Alstom is likely to deliver orders of 800 Electric Engines in the coming five years. The powerful electric engine WAG-12B is in applied of prominent freight tracks and shifting loads
    In 2021, Bombardier transportation tied up with Italian intermodal freight operator GTS rail to deliver an order of three TRAXX DC3 E.494 trains for its fleet.
    The railway engine market is anticipated to thrive at an average CAGR of 4.8% between 2023 and 2033. The market is anticipated to reach a market share of US$ 41.06 billion by 2033, while it holds a revenue of US$ 25.6 billion in 2023. Key Points The U.S. market is the biggest for railway engine technology, including freights, loaders, and generators. The U.S. market holds a share of 19.7% of the global share. The Indian market thrives at the highest CAGR of 6.0% during the forecast period. The market thrives on technological advancements and the government’s transformation of railways. With its major players, Germany also fuels with a market share of 5.3% as it starts its major electric engine trials. Chinese market thrives on a CAGR of 5.4% between 2023 and 2033. The electric segment is expected to thrive in the propulsion category due to its sustainable model and cheaper operational cost. It holds a major share of 56.8% in the global market. - Advanced hydrogen, electric, and hybrid engines are in high demand as they are fast, efficient, and cheaper than diesel engines, pushing vendors to adopt alternate fuel technologies. - The restoration of the trade and travel and tourism industries and government railway operations helped the market. Furthermore, research activities and trial runs of hydrogen and electric locomotives are likely to fuel the demand for railway engines. - Expansion of railway tracks in emerging economies like India and China is consuming more of the market. At the same time, advancements and beautification of platforms also attract passengers to travel from the cheap and highly convenient rails. - Growing inflation and skyrocketing fuel prices make end users choose the cheaper option as major trains nowadays run on alternative fuel, saving the environment while not being harsh on end users’ pockets. - Digital transmission and control systems in global railway systems are likely to make railway engines futuristic and advanced. This helps improve the railway structure while increasing the demand for railway engines. For more information: https://www.futuremarketinsights.com/reports/railway-engine-market Competitive Landscape Key competitors try to make their engines durable, technologically advanced, and efficient. Furthermore, the futuristic approach and digitized transmission open the gate for startups and new technology. Hydrogen-based rail hydrail is likely to expand the market size. Key players in the market are Bombardier Transportation (Canada), Alstom (France), Hitachi Ltd (U.K.), AEG Power Solutions (Netherlands), Siemens Mobility (Germany), Wabtec Corporation (U.S.), Toshiba International Corporation (U.S.), CZ LOKO, A.S. (Czech Republic), CRRC Corporation Limited (China), and Hyundai Corporation (South Korea). For instance: In 2022, France-based locomotive co. Alstom is likely to deliver orders of 800 Electric Engines in the coming five years. The powerful electric engine WAG-12B is in applied of prominent freight tracks and shifting loads In 2021, Bombardier transportation tied up with Italian intermodal freight operator GTS rail to deliver an order of three TRAXX DC3 E.494 trains for its fleet.
    WWW.FUTUREMARKETINSIGHTS.COM
    Railway Engine Market
    Railway Engine Market is anticipated to increase at a high CAGR of 4.8% (2023-2033), reaching a value of about US$ 41.06 billion by year 2033 - FMI
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