Passenger Cars 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 56 million |
| CAGR (2023-2028) | 5.71% |
| Fastest Growing Segment | HEV |
| Largest Market | Asia-Pacific |
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Market Overview
Global Passenger Cars Axial Flux Motors Market is estimated at USD 56 million in 2022 and is expected to cast strong growth during the forecast period with a CAGR of 7.29% during 2028.
The global passenger cars axial flux motors market is experiencing a deep re-shaping as the automobile sector is coping with a crucial transition toward electrification and sustainability. With growing ecological issues and toughening emissions standards, carmakers are turning toward electric vehicles (EVs) at a record rate. Axial flux motors have come to be critical facilitators of this shift with their higher efficiency and power density over conventional radial flux motors. Hence, they are becoming increasingly popular as the go-to solution for electric propulsion in passenger vehicles. Technological advancements in electric vehicle technology, such as battery technology and the creation of durable charging infrastructure, are driving the need for axial flux motors. These motors, with their compact size and high efficiency, are key elements in improving the overall efficiency and driving experience of EVs. Additionally, the heavy investments made by automakers in electrification and the worldwide expansion of EV manufacturing plants are further driving the axial flux motors market growth. The consumer demand is also stimulating the transition towards axial flux motors, as green-conscious consumers are looking for cleaner means of transport. This increase in consumer demand for electric vehicles with better performance and greater mileage goes hand-in-hand with the strength of axial flux motors.
Key Market Drivers
Rising Environmental Concerns and Stringent Emission Regulations
One of the primary drivers propelling the global passenger cars axial flux motors market is the escalating concern over environmental issues and the implementation of stringent emission regulations worldwide. Governments and regulatory bodies in many countries have set ambitious emission reduction targets to combat climate change and improve air quality. As a result, the automotive industry has been forced to transition towards electric vehicles (EVs) and hybrid electric vehicles (HEVs) to meet these stringent standards. Axial flux motors are gaining prominence in this transition due to their superior efficiency and compact design, making them an ideal choice for electric powertrains in passenger cars. The demand for these motors is expected to surge as automakers strive to comply with emissions regulations and satisfy environmentally conscious consumers.
Advancements in Electric Vehicle Technology
Continuous advancements in electric vehicle technology are another crucial driver of the global passenger cars axial flux motors market. As electric vehicles become more mainstream, automakers are constantly seeking ways to enhance the performance, range, and efficiency of their EVs. Axial flux motors offer several advantages over traditional radial flux motors, including higher power density, better cooling efficiency, and reduced weight. These features contribute to improved overall EV performance, making axial flux motors an attractive choice for automakers looking to gain a competitive edge in the electric vehicle market. As a result, research and development efforts are focused on refining axial flux motor technology, driving innovation in the sector.
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Consumer Demand for Electric Vehicles
The growing demand for electric vehicles among consumers is a significant market driver for passenger cars axial flux motors. As consumers become more environmentally conscious and seek alternatives to internal combustion engine (ICE) vehicles, electric cars have gained popularity. Axial flux motors play a vital role in the electrification of passenger cars, as they offer greater energy efficiency and performance, leading to a better driving experience. The increasing adoption of electric vehicles is expected to boost the demand for axial flux motors, as automakers strive to meet the diverse needs and preferences of their customers in this evolving market.
Automaker Investment in Electrification
Automakers worldwide are heavily investing in the development and production of electric vehicles to remain competitive in the evolving automotive landscape. This significant capital infusion into electrification serves as a driver for the global passenger cars axial flux motors market. Major automotive manufacturers are not only launching new electric vehicle models but also expanding their production capacity for electric powertrains. This includes investments in manufacturing facilities, battery technologies, and electric motor production lines, which directly impact the demand for axial flux motors. The need for efficient and reliable electric motors is paramount in these investments, further fueling the growth of axial flux motors in the passenger car segment.
Global Expansion of Electric Vehicle Infrastructure
The expansion of electric vehicle charging infrastructure is another pivotal driver for the global passenger cars axial flux motors market. The widespread availability of charging stations is essential for the adoption of electric vehicles. Governments, private enterprises, and utilities are investing heavily in building charging networks to alleviate range anxiety and promote the use of EVs. As the electric vehicle charging infrastructure matures and becomes more accessible, consumers are increasingly inclined to switch to electric cars. This, in turn, boosts the demand for axial flux motors, as they are integral components of these electric power trains. The growth of the charging infrastructure serves as a catalyst for the proliferation of electric vehicles equipped with axial flux motors, thereby stimulating market expansion.
Key Market Challenges
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Cost and Pricing Pressure
Cost and pricing pressures are among the most pressing challenges in the Global Passenger Cars Axial Flux Motors Market. As the demand for electric passenger vehicles grows worldwide, there is an increasing expectation among consumers for affordable EVs. However, axial flux motors, despite their advantages, can be costlier to manufacture compared to traditional radial flux motors. The cost of raw materials such as rare earth magnets, copper, and laminations used in the production of axial flux motors can be significant. These materials are essential for achieving high efficiency and power density, but their prices can be volatile and subject to global supply chain disruptions. The manufacturing process for axial flux motors can be more complex compared to radial flux motors, contributing to higher production costs. Precise winding, assembly, and quality control are necessary to ensure optimal motor performance. Achieving economies of scale is a critical factor in reducing the production cost of axial flux motors. Large-scale production and adoption of EVs can help lower costs through increased production volumes and more efficient manufacturing processes. The competitive nature of the EV market exerts pressure on motor manufacturers to offer cost-competitive solutions. This can result in thin profit margins and challenges in maintaining profitability, especially for smaller manufacturers. Balancing the need for cost-effective axial flux motors with the demand for high-quality, efficient, and reliable components is a complex challenge that motor manufacturers in the passenger car segment must navigate.
Thermal Management and Cooling
Thermal management and cooling present a significant challenge in the Global Passenger Cars Axial Flux Motors Market. These motors generate substantial heat during operation, and effective cooling systems are essential to maintain optimal performance, efficiency, and longevity. Axial flux motors often operate at high power densities, leading to increased heat generation. Without proper cooling mechanisms, excessive heat can degrade motor performance, reduce efficiency, and shorten the lifespan of critical components. Passenger cars have limited space found at for motor installation, making it challenging to integrate efficient cooling systems. The compact size of axial flux motors exacerbates this challenge. Developing and implementing effective cooling technologies, such as liquid cooling or advanced air cooling systems, can be expensive and complex. Designing compact and efficient cooling solutions that fit within the tight constraints of a passenger car's engine bay is a continual engineering challenge. The frequent start-stop cycles typical of urban driving can subject motors to thermal stress. Managing rapid temperature changes and preventing overheating during such driving conditions is crucial for motor reliability. Cooling systems can introduce noise and vibration, impacting passenger comfort. Balancing effective cooling with minimal noise and vibration is a design challenge for motor manufacturers. Addressing thermal management and cooling challenges is essential to ensure the reliability, efficiency, and longevity of axial flux motors in passenger cars, especially as the demand for high-performance EVs continues to grow.
Supply Chain Constraints
Global supply chain constraints represent a significant challenge for the Passenger Cars Axial Flux Motors Market. The production of axial flux motors relies on a complex network of suppliers, and disruptions or delays at any stage of the supply chain can impact manufacturing and lead to increased costs. The magnets used in axial flux motors often contain rare earth elements, which can be subject to geopolitical tensions and supply fluctuations. Dependence on these materials can create supply chain vulnerabilities. Axial flux motors comprise various components, such as laminations, windings, and bearings, sourced from multiple suppliers. Supply chain disruptions at any of these levels can lead to production delays and increased costs. Long lead times for certain components can slow down motor manufacturing. Manufacturers must carefully manage inventory and logistics to mitigate these challenges. Many motor manufacturers depend on a limited number of suppliers for critical components. Reducing this dependence and diversifying the supplier base can enhance resilience. Navigating supply chain challenges requires robust contingency planning, diversification of suppliers, and a proactive approach to managing inventory and logistics to minimize disruptions in motor production.
Range Anxiety and Battery Integration
Range anxiety remains a significant challenge in the adoption of electric passenger cars, and axial flux motors play a crucial role in addressing this concern. Maximizing range requires not only efficient motors but also effective integration with batteries and power electronics. Axial flux motors are known for their high energy efficiency, but achieving maximum range depends on optimizing the overall electric drivetrain, including the motor, battery, and power electronics. Efficient power conversion and energy regeneration during braking are critical factors. Effective integration between axial flux motors and the vehicle's battery system is essential. This involves managing power output, temperature, and voltage compatibility to ensure optimal performance and safety. Achieving a balance between motor power, battery capacity, and vehicle weight is crucial for EV range. Excessive weight can reduce efficiency and compromise range. Expanding the charging infrastructure is essential to alleviate range anxiety. EV manufacturers must work in collaboration with governments and infrastructure providers to establish a robust and accessible charging network. Addressing range anxiety also involves educating consumers about the capabilities of EVs and the real-world range achievable under various driving conditions.
Technological Advancements and Competition
Key Market Trends
Rising Adoption of Electric Vehicles (EVs)
A revolutionary shift in the world automobile industry is the increasing adoption of electric vehicles, and this has a direct relationship with the demand for axial flux motors. With governments across the globe imposing tighter emissions controls and promoting the phase-out of internal combustion engine (ICE) cars, automakers are heavily investing in electric vehicle technology. EVs are becoming more mainstream as a result of their eco-friendliness, long-term cost savings, and improved battery technology that supports longer driving distances. Axial flux motors are becoming popular in this regard because of their natural strengths in electric powertrains. The motors have increased power density, better cooling efficiency, and a more compact design, all of which enhance the overall performance and efficiency of electric vehicles. With consumers and automakers increasingly giving precedence to EVs, demand for axial flux motors as a core element of electric powertrains is likely to increase significantly.
Motor Technology Advancements
The passenger vehicles axial flux motors market is experiencing an emergent trend in the ongoing development of motor technology. This comprises developments in materials, design, and manufacturing techniques. The pursuit of improved efficiency, minimized weight, and increased power output has driven development in axial flux motor design. Researchers and designers are investigating new materials, including advanced composites and high-temperature superconductors, for improving motor efficiency and minimizing losses. Moreover, the use of sophisticated control algorithms and sensors makes possible accurate control of motors, further maximizing efficiency and performance. These developments, in addition to enhancing the features of axial flux motors, enhance the competitiveness of electric vehicles on the market as well. As technology advances further, axial flux motors are anticipated to be increasingly efficient and trustworthy, leading to their use within the passenger vehicle segment.
Motor Type Customization and Diversification
One other trend that can be observed in the global passenger cars axial flux motors market is customization and diversification of motor types to cater to particular automotive needs. Vehicle manufacturers are increasingly looking for customized solutions to handle the specific attributes of their electric vehicle models. This trend has led to the development of various axial flux motor configurations, including single-rotor and dual-rotor designs, each offering distinct advantages in terms of torque, power density, and efficiency. Moreover, some manufacturers are opting for axial flux motors with integrated gearboxes or hybrid motor designs to optimize performance for different vehicle applications, such as electric sports cars or compact urban EVs. The customization capability of axial flux motors enables automakers to adjust the performance of their electric vehicles to suit consumer requirements for varied driving experiences.
Global Supply Chain Resilience and Localization
Supply chain resilience and localization have become a trend over the past few years due to global supply chain disruptions and concerns regarding the availability of resources. The same trend is also witnessed in the passenger cars axial flux motors market. Automakers and engine makers are also seeking to find a secure, stable supply of key components like rare-earth magnets, which axial flux motors use. To try to reduce risk in the supply chain, automakers and manufacturers are increasingly concerned with diversifying sources, alternative materials, and local production. This follows similar efforts by the industry to decouple from single regions for critical resources. Also, localization can improve cost savings, lead times, and its carbon footprint, and thus it is a desirable strategy for motor suppliers as well as automakers. With supply chain resilience and localization becoming more important, it is expected to affect the production and sourcing approaches in the axial flux motors market.
Integration of Digitalization and Connectivity
The impact of digitalization and connectivity features in cars is a trend that goes beyond the passenger cars axial flux motors market. Nevertheless, it plays an important role in influencing motor design and operation. Electric vehicles are being progressively supplied with advanced digital control systems and connectivity features to improve driving experience, safety, and energy management. Axial flux motors are no exception, serving as a crucial enabling technology to deliver these features. Digitalization can provide highly precise control over the performance of the motor, where dynamic adaptation ensures maximum efficiency and power output. Additionally, networked vehicles have the capability to send data back to cloud infrastructure for remote diagnostic, predictive maintenance, and efficiency and power-delivery optimization purposes, all built on the function and dependability of axial flux motors. As cars are increasingly connected and autonomous, there is likely to be an increase in demand for axial flux motors that can seamlessly interface with such digital systems.
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
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.
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