Medium & Heavy Commercial Vehicles Axial Flux Motors Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Propulsion (BEV, HEV, PHEV), By Demand Category (OEM, Aftermarket) By Region, By Competition, 2018-2028
Published Date: April - 2025 | Publisher: MIR | No of Pages: 320 | Industry: Automotive | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request Customization| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 30 million |
| CAGR (2023-2028) | 5.82% |
| Fastest Growing Segment | HEV |
| Largest Market | Europe |
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Market Overview
Global Medium & Heavy Commercial Vehicles Axial Flux Motors Market worth USD 30 million in 2022 and projected to exhibit impressive growth during the forecast period with a CAGR of 5.82% during 2028.
Global medium and heavy commercial vehicle axial flux motors market is experiencing revolutionary change as the automotive sector adopts electric drive systems more and more. Such motors are the flag-bearers of this revolution, being a central component in the electrification of commercial vehicles. With increased emphasis on sustainability, lower emissions, and enhanced operational efficiency, the application of axial flux motors within this segment is increasing consistently. The growth of this market is driven largely by the rising usage of electric commercial vehicles (eCVs) across the globe. Governments and regulators are introducing strict emissions regulations, forcing fleet operators and manufacturers to shift towards electric powertrains. Axial flux motors have various benefits in this scenario, such as high torque density, reduced size, and improved thermal performance, and thus are a great fit for eCVs. Further, the continuous development of battery technology is supporting the need for axial flux motors. As charging infrastructure becomes more prevalent and energy density in batteries continues to increase, electric commercial vehicles are gaining ground for long-distance and heavy-duty use. Axial flux motors play an important part in optimizing the efficiency of these vehicles so they can handle the strenuous demands of the commercial market.
Key Market Drivers
Environmental Regulations and Emissions Reduction Targets
One of the most significant drivers propelling the global M&HCV axial flux motors market is the increasingly stringent environmental regulations and emissions reduction targets set by governments worldwide. As concerns about climate change and air quality continue to mount, there is a growing imperative to reduce the carbon footprint of commercial transportation. Governments are imposing strict emissions standards on M&HCVs, mandating reductions in greenhouse gas emissions and other pollutants. Axial flux motors are central to addressing these regulatory challenges. By enabling the electrification of M&HCVs, they offer a clean and efficient alternative to traditional internal combustion engine (ICE) vehicles. Electric M&HCVs equipped with axial flux motors produce zero tailpipe emissions, helping fleet operators and businesses comply with emissions reduction targets. The adoption of electric M&HCVs is further incentivized by government programs, subsidies, and policies designed to accelerate the transition to sustainable transportation. In this context, axial flux motors are a critical enabler for M&HCV manufacturers and fleet operators to meet regulatory requirements while maintaining the performance and reliability necessary for commercial applications. As emissions standards continue to tighten, the demand for electric M&HCVs powered by axial flux motors is expected to grow substantially.
Advancements in Battery Technology
Advancements in battery technology represent a pivotal driver for the global M&HCV axial flux motors market. As the energy storage component of electric vehicles (EVs), batteries play a critical role in determining the range, performance, and practicality of electric M&HCVs. Over the years, significant progress has been made in battery technology, including improvements in energy density, cycle life, and charging capabilities. High-energy-density batteries enable electric M&HCVs to cover longer distances on a single charge, addressing one of the primary concerns in the adoption of electric commercial vehicles. Improved cycle life ensures the longevity and durability of batteries, reducing replacement and maintenance costs. Fast-charging capabilities enhance the practicality of electric M&HCVs by minimizing downtime during charging stops. These advancements in battery technology not only extend the range and usability of electric M&HCVs but also enhance their overall efficiency. Axial flux motors, known for their high efficiency and power density, benefit significantly from the availability of advanced batteries. Together, these technologies work in synergy to provide electric M&HCVs with the power and range necessary to meet the demands of diverse commercial applications. Furthermore, ongoing research and development in battery chemistry, solid-state batteries, and alternative energy storage solutions continue to drive innovation in the industry, promising even more substantial improvements in the future.
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Charging Infrastructure Expansion
The expansion of charging infrastructure is a critical driver for the global M&HCV axial flux motors market. Access to a robust and efficient charging network is essential to support the widespread adoption of electric M&HCVs. Unlike light-duty vehicles, M&HCVs often require specialized charging equipment due to their larger battery capacities and energy needs. To cater to the unique requirements of electric M&HCVs, charging infrastructure must encompass a comprehensive network of high-power charging stations strategically located along major transportation routes, highways, and logistical hubs. The development of such infrastructure ensures that electric M&HCVs can operate seamlessly, covering long distances without excessive downtime. Governments, in partnership with private entities, are investing heavily in the expansion of charging infrastructure to create a conducive environment for the electrification of commercial fleets. Public-private collaborations, incentives for charging station deployment, and supportive regulatory frameworks are driving the expansion of charging networks, making it increasingly convenient for M&HCV operators to adopt electric propulsion. As charging infrastructure continues to grow and evolve, it reduces the barriers associated with electric M&HCV adoption, making these vehicles more attractive to fleet operators and businesses.
Total Cost of Ownership (TCO) Considerations
Total Cost of Ownership (TCO) considerations play a central role in driving the adoption of electric M&HCVs equipped with axial flux motors. Fleet operators and businesses are increasingly evaluating TCO when making procurement decisions. While the upfront cost of electric M&HCVs may be higher than that of their diesel or gasoline counterparts, the long-term savings associated with electric propulsion can be substantial. Electric M&HCVs benefit from lower operating costs, including reduced fuel expenses and maintenance requirements. Electric motors, such as axial flux motors, offer high efficiency, reliability, and reduced wear and tear compared to ICEs. Additionally, energy costs for electric vehicles are typically lower than the cost of diesel or gasoline. TCO considerations take into account factors such as fuel or electricity costs, maintenance and repair expenses, resale value, and any applicable incentives or subsidies. As the industry continues to gather data on the real-world TCO of electric M&HCVs, businesses are becoming increasingly aware of the potential cost savings associated with these vehicles. Axial flux motors, with their high efficiency and power density, contribute significantly to reducing operating costs, making electric M&HCVs an economically viable choice for businesses aiming to optimize their fleets.
Technological Advancements in Axial Flux Motors
Technological advancements in axial flux motors themselves are a driving force in the global M&HCV axial flux motors market. These motors continue to undergo research and development, leading to improvements in efficiency, power density, and reliability. High-efficiency axial flux motors help extend the range of electric M&HCVs by minimizing energy losses during operation. Moreover, they provide the torque and power required for heavy-duty applications, making them well-suited for M&HCVs. Advancements in motor materials and manufacturing processes contribute to enhanced durability and reduced maintenance requirements. Additionally, integration of advanced control systems and sensors optimizes motor operation, ensuring precise torque delivery and energy efficiency. Features such as regenerative braking and energy recovery systems are increasingly incorporated into axial flux motors, further improving energy efficiency and reducing operating costs for M&HCVs. These technological advancements not only enhance the competitiveness of axial flux motors but also contribute to the overall performance and efficiency of electric M&HCVs. As the industry continues to innovate, electric M&HCVs with axial flux motors are positioned to offer a compelling alternative to traditional diesel-powered vehicles.
Key Market Challenges
Cost Restraints and Economic Feasibility
Cost restraints and economic feasibility of implementing this technology rank among the biggest challenges facing the global axial flux motors M&HCV market. Although axial flux motors have many benefits, such as improved efficiency and power density, their production is higher compared to traditional radial flux motors. The mass and power consumption of M&HCVs require bigger, more energetic motors, which can again drive higher production costs. This cost obstacle becomes a strong impediment for commercial fleet owners and producers wishing to upgrade their M&HCV fleets into electric drives. The up-front purchase cost of electric M&HCVs, including the expense of axial flux motors, battery packs, and supporting components, is typically higher than that of diesel or gasoline versions. This presents a fiscal dilemma, since companies must find a balance between up-front cost investment and longer-term operating expenses savings. The financial feasibility of electric M&HCVs with axial flux motors relies on attaining comparable prices and having the total cost of ownership (TCO) throughout the lifespan of the vehicle remain appealing. Economies of scale, minimizing material costs, and improvements in manufacturing processes will be key in overcoming these cost limitations.
Energy Density and Range Limitations
The energy density constraints of existing battery technology have a direct bearing on electric M&HCV range and usability with axial flux motors. Although axial flux motors are the best in power delivery and efficiency, their practicality is restricted by onboard batteries' energy storage capacity. For long-distance runs and heavy loading, M&HCVs need longer ranges to fulfill working requirements. Counteracting range restriction while ensuring competitiveness is a tall order. Commercial vehicles tend to travel long distances and face varied applications ranging from long-distance haulage to regional routes and vocational duties. For electric M&HCVs with axial flux motors to become an attractive option for commercial use, battery technology has to see tremendous improvements in terms of energy density and providing long driving ranges. Moreover, the establishment of charging infrastructure that accommodates M&HCVs and facilitates rapid charging during breaks or layovers is essential to mitigating range anxiety and making electric M&HCVs practical in different applications.
Charging Infrastructure Development and Accessibility
Accessibility and availability of a strong charging infrastructure are the most significant challenges for the global market of M&HCV axial flux motors. As opposed to light-duty vehicles, M&HCVs also have special charging needs because they have large battery capacities and energy demand. The lack of an extensive and convenient charging infrastructure can dishearten the acceptance of electric M&HCVs. Electric M&HCVs frequently travel long distances and through various geographic locations, which demand a widespread charging infrastructure in order to facilitate their operations. Implementing rapid-charging infrastructure on principal transportation corridors, highways, and logistics centers is crucial to reduce downtime for M&HCV fleets during charging breaks. Governments, in cooperation with private sectors, need to invest in developing charging infrastructure to enable the efficient electrification of M&HCV fleets. Additionally, compatibility with different charging standards and technologies is crucial to ensure maximum accessibility and convenience for commercial vehicle owners.
Integration Complexity and Compatibility
Integrating axial flux motors in M&HCVs and making them compatible with other vehicle components and systems is another challenging set of issues. M&HCVs usually have advanced powertrain layouts, transmission systems, and auxiliary components to manage heavy loads and long-haul operations. Integrating axial flux motors into these already established systems while keeping them at their best efficiency, performance, and reliability is technically challenging.
Incompatibility may occur when retrofitting conventional M&HCVs with electric powertrains because the original equipment manufacturer designed these vehicles for non-electric propulsion. Seamless integration is key to providing electric M&HCVs with axial flux motors the power and torque necessary for commercial use. Motor manufacturers and M&HCV OEMs must work together to solve integration challenges. Coordination and customization are required in order to fit the electric powertrain to the individual requirements of various applications for M&HCVs, whether long-haul trucking, delivery, construction, or specialty vehicles.
Market Acceptance and Industry Adoption
Market acceptance and industry-wide adoption of electric M&HCVs using axial flux motors are a multi-faceted challenge. In contrast to the passenger vehicle market, where electric vehicle (EV) uptake has made significant inroads, the M&HCV segment has special considerations and needs wider acceptance. Commercial fleet operators and companies need to be persuaded of the economic and operational advantages of electric M&HCVs with axial flux motors. Proving cost savings over the life of the vehicle, lower operating costs, and environmental regulation compliance are key drivers in achieving market acceptance. Secondly, government incentives, financial assistance, and favorable regulatory structures for electric M&HCVs will be key drivers of industry adoption. Incentivizing fleet electrification, setting emission reduction targets, and formulating positive policies will be instrumental in incentivizing companies to transition.
Key Market Trends
Electrification Drive
One of the most notable trends among medium and heavy commercial vehicles (MHCV) is the quick drive towards electrification. Governments globally are imposing strict emission controls, prompting MHCV producers to consider electric vehicle (EV) solutions. Axial flux motors, with their power density and efficiency characteristics, are becoming widely sought after as a critical element in the electric drive system of MHCVs. Governments are providing subsidies and incentives to encourage the adoption of electric MHCVs. Axial flux motors are favored due to their compact design, which meets the space limitations of MHCVs. Large companies such as Tesla, Volvo, and Daimler are heavily investing in electric MHCVs with axial flux motors.
Lightweighting and Efficiency
The MHCV sector is constantly looking for means to decrease weight and enhance fuel efficiency. Axial flux motors play a part in this due to their lighter weight and high-efficiency design. Adding these motors enables manufacturers to create more efficient and environmentally friendly vehicles and comply with legislation. Axial flux motors tend to be lighter than conventional motors, which aids in diminishing the weight of the entire vehicle. Increased efficiency means increased driving ranges for electric MHCVs. Weight reduction and efficiency gain are essential for achieving emission goals and reducing operating expenses.
Autonomous Driving Integration
Autonomous driving technology is advancing greatly in the MHCV segment, and axial flux motors are a major factor in this advancement. With the increasing popularity of self-driving commercial vehicles, there is growing demand for high-performance, dependable motors that have the capacity to handle autonomous systems. Axial flux motors are perfect for use in autonomous vehicles because they ensure very accurate control. Motors with axial flux have the ability to change power delivery rapidly to accommodate varying road conditions or traffic situations. Autonomous MHCVs promise to bring greater safety, lower labor costs, and improved logistics.
Energy Storage and Battery Advancements
The viability of electric MHCVs significantly relies on energy storage options, and the topic of choice starts with batteries. The direction in the market entails not only embracing high-capacity batteries but also advancements in battery technology. Axial flux motors are hand-in-hand with this trend, given that they increase overall system efficiency. Advanced battery technology is supplemented by axial flux motors that efficiently convert energy stored into movement. The use of fast-charging systems by companies to cut downtime for electric MHCVs is in the works. Technology is being worked on to bring up the energy density of batteries, making electric MHCVs drive farther.
Global Supply Chain Diversification
Historically, the MHCV business was dependent on elaborate global supply chains, which have been broken up by numerous occasions, including the COVID-19 pandemic. As a response, companies are working to diversify their supply chain and pursue local production solutions. This trend can influence sourcing of axial flux motors and their parts. Suppliers are pursued regionally to minimize reliance on one source. Diversification minimizes supply chain interruptions and maximizes resilience. It can cause differences in the availability and cost of axial flux motors across different regions.
Segmental Insights
Propulsion Type Analysis
Battery Electric Vehicles, Hybrid Electric Vehicles, and Plug-in Hybrid Electric Vehicles are the three propulsion-based sectors that make up the global automotive axial flux motors market. The battery electric vehicles (BEVs) sector accounts for the biggest share of the global market for automotive axial flux motors. BEVs are cars that only use electric power that is stored in batteries, providing zero-emission travel. The demand for BEVs has risen significantly in recent years due to the increased emphasis on sustainability and environmental issues. Due to the acceptance of electric mobility solutions and government programs supporting clean energy transportation, this market segment now holds a monopoly.
Demand Category Analysis
The OEM and Aftermarket divisions of the worldwide automotive axial flux motors market are separated based on demand type. The market for axial flux parts and systems that are directly supplied by producers to automotive firms for integration into new cars during the production process is referred to as the OEM segment. The market for axial flux products and services, on the other hand, is found at for purchase and installation after the vehicle has been delivered to the end user and is included in the aftermarket category.
Regional Insights
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As of the end of 2021, Europe dominated the world revenue generated by axial flux motors. The harsh steps taken by the government to promote the use of electric cars are the reason behind the strong growth of the market in Europe. In March 2020, the UK government invested heavily in electric scooters and delivery drones as part of the "making journeys easier, smarter and greener" initiative. The market for axial flux motors has vast opportunities for growth due to these worldwide investments. The presence of competing firms in this space is the other factor driving the expansion of the market.
The strong efforts of the government in promoting electric vehicle usage have helped the industry witness fantastic growth throughout Europe. The UK government, in March 2020, was reportedly investing a significant amount of money in electric scooters and delivery drones as part of an initiative called "making trips easier, smarter, and greener." These global investments will grow the axial flux motor market by a considerable margin. Energy-saving electric motors can save energy and countries across the region are implementing stringent policies and regulations that encourage people to use Axial Flux motors. The growth of the Axial Flux motors market in the region is also elaborated upon, along with the existing effective efficiency standards in every large market. APAC is world famous for having a fast-growing automobile industry, which is being fuelled by emerging economies such as China, India, and Japan. APAC's immense market size is primarily attributed to the high degree of focus in the region on technical advancements, growing disposable incomes, and growing urbanization. Automotive axial flux technologies have a considerable market here, attracting both domestic and foreign players.
Recent Developments
- Toprovide the next-generation maritime propulsion solutions, Saietta Group plccreated the Propel division of axial flux motors in November 2021. These axialflux motors use Flux Technology for supporting decarbonization and sustainablemobility on waterways. These motors provide the best possible performance andefficiency, which enables them to comply with impending laws in all the maincities.
- Toimprove electrification capabilities and create sustainable electrification forindustrial and commercial vehicles, Turntide Technologies bought AVIDTechnology in August 2021. The acquisition aims to bring together AVID's andtechnology to produce goods that can be used in industrial vehicles. In orderto stop using rare earth magnets in electric vehicles, the acquisition wasmade.
- InFebruary 2021, Dana acquired Ashwoods Electric Motors to make it capable ofmanufacturing all core components of a fully integrated e-Drive system. Withthis acquisition, Ashwoods hopes to maintain its top employees who embraceDana's high-volume excellence and promote a culture of growth. The company isalso planning to offer Original Equipment Manufacturers (OEMs) a trustednetwork of breakthrough technologies
Key Market Players
- Magnax BV
- YASALimited
- NidecCorporation
- SaiettaGroup
- EMRAX
- WhylotElectromechanical Solutions
- AgniMotors Ltd,
- TurntideTechnologies
- ElaphePropulsion Technologies,
- BrusaElektronik AG
- PMLFlightlink Ltd.
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