Breakdown of India Electric Vehicle Motor Market Share Among Leading Companies

The India Electric Vehicle Motor Market is experiencing significant growth, poised to expand from approximately USD 0.898 billion in 2024 to an estimated USD 2.889 billion by 2030. This remarkable growth is driven by the increasing sales of electric vehicles (EVs) in the country, backed by strong environmental concerns and supportive governmental policies. Additionally, the rise in charging infrastructure and the push for reducing running costs are fueling consumer interest. The India Electric Vehicle Motor Market is projected to grow at a robust compound annual growth rate (CAGR) of around 21.5% during the forecast period from 2025 to 2030. With stakeholders recognizing the potential of electric mobility, companies are investing heavily in research and development to innovate motor technologies.

India Electric Vehicle Motor Market Forecast

• Significant Expansion: The India Electric Vehicle Motor Market is projected to reach USD 2.889 billion by 2030.
• Robust CAGR: Expected growth at a compound annual growth rate (CAGR) of 21.5% from 2025 to 2030.
• Increasing Demand for Electric Two-Wheelers: This segment holds the largest market share, driving motor demand significantly.
• Supportive Government Policies: Continued subsidies and initiatives to boost EV production are enhancing the potential of the India Electric Vehicle Motor Market.
• Emerging Technologies: The integration of IoT in motors is optimizing performance and setting trends for future developments in the India Electric Vehicle Motor Market.

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India Electric Vehicle Motor Manufacturing Industry Competitive Landscape

The competitive landscape of the India Electric Vehicle Motor Market showcases prominent players striving for dominance through innovation and collaboration. Key companies include:

• ABB
• Tata Motors
• Kirloskar Electric
• Nidec Corporation
• Bharat Heavy Electricals Limited (BHEL)
• Bonfiglioli
• Laxmi Hydraulics Pvt. Ltd.
• Robert Bosch GmbH
• CG Power & Industrial Solutions Ltd.
• Weg Industries India
• Others

These firms are actively investing in new technologies and expanding their product portfolios, preparing to meet the increasing demand for electric vehicle motors.

Key Takeaways from the India Electric Vehicle Motor Market Report

The report highlights critical insights, including that the electric two-wheeler segment is the largest user of motors, accounting for about 60% of the market share. Additionally, brushless motors constitute the leading motor type used due to their efficiency and lower maintenance requirements. The government's commitment to establishing charging infrastructure and providing subsidies is expected to further accelerate growth in the India Electric Vehicle Motor Market in the coming years.

Industry Recent Development

• 2024: ABB launched a new package, consisting of an AMXE250 motor and HES580 inverter, for electric buses. This inverter is the first 3-level inverter, and the motor features high torque density for improved dynamic performance. Their integration will lead to an increased lifespan of the motor.

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India Electric Vehicle Motor Market Segmentation

The India Electric Vehicle Motor Market is segmented based on various factors, including:

By Vehicle Type:

• Electric Passenger Cars (Sedan, Hatchback, SUV)
• Electric Commercial Vehicles (Light, Medium & Heavy)
• Electric Two-Wheelers (Scooters, Motorcycles)
• Electric Three-Wheelers

 By Motor Type:

• Brushless Motors
• Brushed Motors
• Induction (Asynchronous) Motors
• Switched Reluctance Motors
• Synchronous Motors

 By Power Rating:

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

By Type

• AC Motor
• DC Motor

 By Region:

• North India
• South India
• East India
• West India

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Frequently Asked Questions (FAQs)

1. What factors are driving the growth of the India Electric Vehicle Motor Market?
2. How does the forecast for the India Electric Vehicle Motor Market look for the next five years?
3. Which companies are leading in the India Electric Vehicle Motor Market?
4. What are the key challenges facing the India Electric Vehicle Motor Market?
5. How is government policy affecting the production and sale of electric vehicles in the India Electric Vehicle Motor Market?

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