India Electric Vehicle Motor Market size was valued at USD 1.35 Bn in 2023 and is expected to reach USD 4.16 Bn by 2030, at a CAGR of 17.45 %.

India Electric Vehicle Motor Market  Overview

Electric vehicle motors play a crucial role in powering electric vehicles by transforming the stored electrical energy from the battery into mechanical energy that moves the vehicle forward. Contrary to internal combustion engines (ICE) that require fuel combustion for power, EV motors utilize alternating current (AC) to turn the wheels.

The first step involves the conversion of direct current (DC) from the battery into alternating current (AC) by an inverter. The frequency and amplitude of the AC signal are adjusted by the inverter to control the motor's speed and torque.

During the projected timeframe, the India Electric Vehicle Motor Market will be led by West India. The strategic benefits of the industry, government backing, and strong market need.

States like Maharashtra and Gujarat, which include significant automotive hubs like Pune and Mumbai, have a well-established infrastructure for the manufacturing and assembly of electric vehicles. Proactive state policies promoting electric mobility boost this industrial strength.

In Maharashtra, there are incentives, subsidies, and frameworks aimed at encouraging EV manufacturers to help consumers adopt electric vehicles by offering cost reductions and financial rewards.

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India Electric Vehicle Motor Market  Segmentation

By Motor Type 

• Alternating Current (AC) Motor
• Direct Current (DC) Motor

By Electric vehicle 

• Battery Electric Vehicle
• Hybrid Vehicles
• Plug-in-Hybrid Vehicles

By Power rating 

• Up to 20 kW
• 20 kW to 100 kW
• 100 kW to 250 kW
• Above 250 kW

By Marketplace 

• OEM 
• Aftermarket

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India Electric Vehicle Motor Market  leaders

• Mahle Electric Drives India Pvt Ltd
• Bosch Limited
• Delta Electronics India
• ABB India Limited
• Siemens Limited
• Toshiba India Pvt Ltd
• Bharat Heavy Electricals Limited (BHEL)
• Exide Industries Ltd
• Kinetic Green Energy & Power Solutions Ltd
• Efacec
• TATA Autocomp Systems Limited
• Hitachi India Pvt Ltd
• L&T Electrical & Automation
• Danfoss India
• Bonfiglioli Transmissions Pvt Ltd
• Nidec India Pvt Ltd
• Kirloskar Electric Company Ltd
• Hindustan Electric Motors
• Parker Hannifin India Pvt Ltd
• Regal Beloit Corporation
• TECO Electric & Machinery Co. Ltd
• Mitsubishi Electric India Pvt Ltd
• SKF India Ltd
• Fuji Electric India Pvt Ltd
• Rockwell Automation India Pvt Ltd.

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Key questions answered in the  Market are:

•         What was the Market size in 2023?
•         What is the projected demand for the India Electric Vehicle Motor Market?
•         Which are the factors expected to drive the Market growth?
•         What is the future projection for the India Electric Vehicle Motor Market? 

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Key Offerings:

•         Past India Electric Vehicle Motor Market Size and Competitive Landscape (2018 to 2022)
•         Past Pricing and price curve by region (2018 to 2022)
•          India Electric Vehicle Motor Market  Size, Share, Size & Forecast by Different Segment | 2024-2030
•         Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
•         Market Segmentation – A detailed analysis by segment with their sub-segments and Region
•         Competitive Landscape – Profiles of selected key players by region from a strategic perspective
• Competitive landscape – Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
•         PESTLE Analysis
•         PORTER’s analysis
•         Value chain and supply chain analysis
•         Legal Aspects of Business by Region
•         Lucrative business opportunities with SWOT analysis
•         Recommendations

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