Two Wheeler 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

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Market Overview

Global Two Wheeler Axial Flux Motors Market has valued at USD 43 million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.40% through 2028.

The global two-wheeler axial flux motors market is experiencing a significant transformation driven by the growing demand for sustainable and eco-friendly mobility solutions. Electric two-wheelers equipped with axial flux motors have emerged as a promising alternative to traditional gasoline-powered motorcycles and scooters. This shift is primarily influenced by environmental concerns, stringent emissions regulations, and the need for energy-efficient transportation. Axial flux motors, known for their compact design and high efficiency, are at the forefront of this change, providing the essential propulsion technology for electric two-wheelers. One of the key drivers of this market is the increasing awareness of environmental issues and the desire for cleaner transportation options. Governments around the world are introducing regulations to curb emissions and promote electric mobility. As a result, electric two-wheelers with axial flux motors offer an attractive solution, emitting zero tailpipe emissions and contributing to reduced air pollution.

Key Market Drivers

Environmental Regulations and Sustainability Initiatives

One of the primary drivers of the global two-wheeler axial flux motors market is the increasingly stringent environmental regulations and sustainability initiatives. Governments and regulatory bodies worldwide are imposing strict emission standards to combat air pollution and reduce greenhouse gas emissions. In response, the automotive industry is transitioning toward electric mobility solutions, including electric two-wheelers. Axial flux motors, known for their high efficiency and compact design, are a crucial component of electric two-wheelers. They contribute significantly to reducing emissions and aligning with sustainability goals, making them a preferred choice for manufacturers aiming to comply with these regulations. Furthermore, urban areas are grappling with air quality issues and traffic congestion, leading to growing support for electric two-wheelers as a sustainable and efficient means of transportation. Axial flux motors, with their power-to-weight ratio and regenerative braking capabilities, enhance the overall performance and range of electric two-wheelers, making them a viable alternative to traditional internal combustion engine (ICE) vehicles.

Technological Advancements in Axial Flux Motors

Advancements in axial flux motor technology play a pivotal role in driving the growth of the two-wheeler market. These motors have witnessed significant improvements in recent years, making them more efficient, reliable, and cost-effective. Technological innovations in materials, manufacturing processes, and cooling systems have led to lightweight and durable axial flux motors that can withstand the rigors of daily use in two-wheelers. Furthermore, advances in motor control systems, such as the integration of sophisticated algorithms and sensors, have enhanced the precision and responsiveness of axial flux motors. This results in smoother acceleration, improved energy efficiency, and better overall ride quality for electric two-wheelers. Manufacturers are constantly investing in research and development to push the boundaries of axial flux motor technology, ensuring that they remain competitive and capable of meeting the evolving demands of the market.

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Cost Competitiveness and Total Cost of Ownership (TCO)

Electric two-wheelers equipped with axial flux motors are becoming increasingly cost-competitive with their ICE counterparts. While the initial purchase price of an electric two-wheeler may be higher, the lower operating and maintenance costs contribute to an attractive total cost of ownership (TCO). Axial flux motors are known for their efficiency, which results in reduced energy consumption and, consequently, lower charging costs compared to refueling a gasoline-powered vehicle. Moreover, electric two-wheelers have fewer moving parts and require less maintenance, leading to decreased servicing expenses over their lifespan. Governments and financial institutions in many regions are also offering incentives, subsidies, and favorable financing options for electric two-wheelers, further reducing the upfront costs for consumers. As the cost economics of electric two-wheelers continue to improve, more riders are making the switch from traditional ICE vehicles to electric alternatives, driving market growth.

Rising Consumer Awareness and Demand for Electric Mobility

Consumer awareness of environmental issues, coupled with a growing desire for sustainable transportation options, is fueling the demand for electric two-wheelers with axial flux motors. The global shift towards cleaner and greener modes of transport is driving individuals to consider electric two-wheelers as a practical and eco-friendly alternative to traditional gasoline-powered motorcycles and scooters. Additionally, the convenience and affordability of electric two-wheelers, especially for daily commuting purposes, are appealing to a wide range of consumers. With advances in battery technology, electric two-wheelers equipped with axial flux motors are offering longer ranges and faster charging times, addressing some of the earlier concerns about electric vehicle adoption. As more consumers recognize the benefits of electric two-wheelers in terms of reduced operating costs and lower environmental impact, the demand for these vehicles is expected to continue rising.

Infrastructure Development and Charging Network Expansion

The expansion of charging infrastructure is crucial for the widespread adoption of electric two-wheelers, and it serves as a significant market driver. Governments, private enterprises, and utilities are increasingly investing in the development of charging networks to support the growing electric vehicle market. Fast-charging stations and convenient home charging solutions are becoming more accessible, alleviating range anxiety and making electric two-wheelers more practical for daily use. Furthermore, the integration of smart charging solutions, coupled with mobile apps for locating and accessing charging points, is enhancing the user experience and encouraging the adoption of electric two-wheelers. These developments are particularly beneficial for urban riders who rely on their vehicles for daily commutes and errands. As the charging infrastructure continues to expand, the adoption of electric two-wheelers equipped with axial flux motors is expected to accelerate, particularly in densely populated areas where the need for sustainable urban mobility solutions is most pressing.

Key Market Challenges

Limited Charging Infrastructure
Limited charging infrastructure is one of the key issues that the global two-wheeler axial flux motors market is confronting. The lack of adequate charging infrastructure, particularly in some geographies and urban areas, discourages consumers. Electric two-wheelers depend on charging stations to recharge their batteries, and a shortage of these facilities discourages consumers from purchasing them. Charging infrastructure development in most regions of the world has trailed behind the uptake of electric two-wheelers. This leads to "range anxiety" among riders, as they worry about depleting battery charge with no charging facility nearby. To bridge this deficit, huge investment is necessary in creating an extensive infrastructure of charging stations, including rapid chargers for rapid top-ups. Governments, utilities, and private industry must come together to close this infrastructural gap and promote electric two-wheeler uptake.

High Initial Purchase Cost
Electric two-wheelers equipped with axial flux motors tend to have a higher upfront purchase cost compared to their gasoline-powered counterparts. While the total cost of ownership (TCO) for electric two-wheelers is generally lower due to lower operating and maintenance costs, the initial price can be a significant barrier for consumers, particularly in price-sensitive markets. To tackle this challenge, manufacturers and governments must work together to incentivize electric two-wheeler adoption. This could involve providing subsidies, tax credits, or cashback incentives to lower the up-front price for consumers. Novel financing strategies, like affordable leasing or payment plans, can also make electric two-wheelers more affordable.

Limited Battery Technology
Battery technology is a very important component of electric two-wheelers, and the status of battery technology poses challenges to the market. Although there have been tremendous strides in recent years, such as better energy density and charging rates, there is still scope for innovation. Batteries must become lighter, more energy-dense, and cheaper to enable longer ranges and minimize the overall weight of electric two-wheelers. Furthermore, the limited lifespan of lithium-ion batteries and issues related to their environmental impact pose challenges in recycling and disposal. Formulating efficient and sustainable battery recycling and disposal methods is needed to mitigate these issues.

Safety Issues and Regulatory Norms
Safety issues related to electric two-wheelers are market challenges. Electric two-wheelers, being quiet, may be less visible to pedestrians and other users of the road and, hence, create accident risks. In addition, the high torque and quick acceleration of axial flux motors may take riders by surprise, especially those coming from conventional gasoline-powered two-wheelers. To reduce safety risks, producers need to spend on safety measures and rider education schemes. Governments and regulatory authorities need to introduce safety standards dedicated to electric two-wheelers and implement them sternly. Such standards should focus on factors like vehicle design, visibility, brakes, and rider training.

Range Limitations
Electric two-wheelers also have range limitations, which present a challenge, particularly for riders who need long-distance commuting or travel. The limited energy storage capacity of today's batteries restricts the range of electric two-wheelers, making them less convenient for some use cases. To overcome this challenge, manufacturers are working towards creating batteries with higher energy densities and more efficient energy management systems. Range extenders like exchangeable battery packs or replaceable batteries are also on the anvil to give added flexibility to consumers who need to travel farther distances. Yet these solutions have to be executed in large volumes for electric two-wheelers to be more flexible and convenient to serve a wider constituency of consumers.

Key Market Trends

Increasing Adoption of Electric Two-Wheelers
One of the prominent trends in the global two-wheeler axial flux motors market is the increasing adoption of electric two-wheelers. As awareness of environmental issues grows and urbanization continues, consumers and governments are seeking sustainable transportation solutions. Electric two-wheelers, powered by axial flux motors known for their efficiency and compactness, are emerging as a popular choice. They provide an effective and environmentally friendly substitute for conventional gasoline motor scooters and motorcycles. In most parts of the world, subsidies, government incentives, and regulations are persuading consumers to shift towards electric two-wheelers. This movement is especially dominant in congested urban centers, where traffic congestion and pollution are important issues. With advances in battery technology, which promise improved ranges and quick charging times, electric two-wheelers with axial flux motors are increasingly viable for daily commutes and short-distance use. 

Battery Technology Advancements
Improvement in battery technology is a key trend in the world's two-wheeler axial flux motors market. Batteries are the fulcrum element of electric two-wheelers, and their performance is directly linked to the market's growth. Improved range, longer lifetime, and rapid charging for electric two-wheelers have resulted from recent developments in battery chemistry, energy density, and safety. Lithium-ion batteries are now the norm for electric two-wheelers, making it possible for compact designs with increased energy storage. Further development of solid-state batteries and other new technologies has the potential for even more enhancements in the future. These developments allow producers to provide electric two-wheelers with higher range and lower charging times, solving some of the initial worries regarding the practicability of electric vehicles.

Customization and Personalization Options
One trend in the world two-wheeler axial flux motors market that continues to grow is the demand for customization and personalization options. Riders are seeking unique and tailored experiences, and manufacturers are responding by offering a variety of models and features to cater to different preferences and needs. Customization options may include various motor power levels, battery capacities, and aesthetic choices such as color schemes and design elements. In addition, manufacturers are adding smart features to electric two-wheelers so that riders can personalize ride settings, connect their vehicles to smartphones, and view real-time information on battery health and performance. Such personalization features improve the overall ownership experience and appeal to a wide variety of consumers, ranging from urban commuters to enthusiasts.

Rise of Connectivity and IoT Integration
Connectivity and IoT integration are now becoming key trends in the two-wheeler axial flux motors market globally. With electric two-wheelers developing technologically, manufacturers are starting to integrate IoT features, sensors, and connectivity features to support safety, convenience, and a better user experience. IoT-linked electric two-wheelers can enable features like GPS navigation, remote diagnostics, anti-theft location tracking, and smartphone integration. Riders have access to real-time data on the status of their vehicle, charge on the battery, and maintenance requirements via mobile applications. Furthermore, networked electric two-wheelers can assist in safer riding through information on road conditions, traffic, and hazards. Such connectivity not only enhances user experience but also allows for valuable information gathering by the manufacturers to enhance products continuously and for predictive maintenance. As customers increasingly demand these intelligent features, their uptake in electric two-wheelers with axial flux motors is likely to keep rising.

Rapid Urbanization and Micro mobility Solutions
The rapid urbanization trend and the rising interest in micro mobility solutions are shaping the global two-wheeler axial flux motors market. As cities become denser and more congested, there is increased demand for efficient and space-saving means of transport. Electric two-wheelers, especially e-bikes and e-scooters, provide a solution to last-mile mobility issues in cities. Axial flux motor-based micro mobility solutions are finding traction for short journeys and regular commutes. They are ideal for traversing through packed city roads and can be parked and charged easily in cities. As cities encourage sustainable transport and develop infrastructure for micro mobility, the need for electric two-wheelers, such as those that have axial flux motors, will increase. The manufacturers are also increasingly focusing on urban markets with models that cater to urban mobility, driving the trend further.

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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By the end of 2021, Europe held most of the global revenue generated by axial flux motors. The severe measures the government has implemented to encourage the adoption of electric vehicles are the reason for the market's strong expansion in Europe. In March 2020, the UK government reportedly made significant investments in electric scooters and delivery drones as part of the "making journeys easier, smarter and greener" project. The axial flux motor market has great prospects for growth thanks to these global investments. Another element fueling market expansion is the existence of rival companies operating in this sector.

The government's strong initiatives to promote the use of electric vehicles have contributed to the sector's tremendous expansion across Europe. In March 2020, the UK government reportedly spent a sizable sum on electric scooters and delivery drones as part of a program dubbed "making trips easier, smarter, and greener." These international investments will significantly increase the axial flux motor market. Energy-efficient electric motors have the potential to save energy, and nations all over the region are putting strict regulations and policies in place to promote the usage of Axial Flux motors. Axial Flux motors market growth in the region is also discussed in detail, as well as the current effective efficiency criteria in each major market. APAC is renowned for having a rapidly expanding automotive sector, which is being supported by developing nations like China, India, and Japan. The huge market size in APAC is mostly due to the region's strong emphasis on technical improvements, rising disposable income, and rising urbanization. Automotive axial flux technologies find a significant market in this area, drawing both domestic and foreign competitors.

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.