Automotive Axial Flux Motor Market: Dynamics and Competitive Landscape Research in 2028Posted by Kumar on October 27th, 2023 In accordance with a comprehensive analysis conducted by TechSci Research in its report titled "Automotive Axial Flux Motor Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027F," the global Automotive Axial Flux Motor Market exhibited a valuation of USD 108 million in the year 2021. Moreover, it is poised to sustain a noteworthy Compound Annual Growth Rate (CAGR) of 29.80% until 2027. The escalating prominence of axial flux motors in the market arises from their inherent advantages, including enhanced power efficiency, compact dimensions, and a robust torque specification, positioning them as potential substitutes for conventional radial motors. Understanding Axial Flux Motors Axial flux motors differ fundamentally from their radial counterparts in terms of geometry. While they share the same electrical components, axial flux motors excel in terms of torque production and power density. In axial flux motors, the direction of magnetic flux aligns parallel to the motor's rotational axis, whereas in radial flux motors, the flux direction is radial. This novel design enables the employment of various operating principles, such as brushed DC, induction, and stepper motors. Axial flux motors are sometimes referred to as "flat motors" due to their remarkably low axial length-to-diameter ratio. Browse more than 174 market data Figures spread through 220 Pages and an in-depth TOC on "Automotive Axial Flux Motor Market" - https://www.techsciresearch.com/report/automotive-arial-flux-motor-market/8273.html Environmental Considerations and Electric Vehicles With the mounting global concern for environmental preservation, electric vehicles are gaining traction as an alternative to conventional combustion engine automobiles. Notably, electric car sales reached 6.6 million in 2021, as per the Global Electric Vehicle Outlook from the International Energy Agency (IEA). Axial flux motors play a pivotal role in electric vehicles due to their compact size, lightweight nature, and superior efficiency. The increased adoption of axial flux motors in electric vehicles significantly contributes to the burgeoning growth of the automotive axial flux motor market. Additionally, when compared to internal combustion engines, axial flux motors stand as a viable alternative, akin to turbocharged engines, necessitating robust hardware and electromagnetic motor designs. Furthermore, recent industry developments include Mercedes' acquisition of YASA, a prominent axial flux motor manufacturer, to initiate a novel motor production line, as well as the Belgian company Magnax securing 20 million euros in August 2022 for the development and manufacturing of axial flux motors. Moreover, in November 2021, the Renault Group made a strategic investment, acquiring a 21% minority stake in Whylot, a distinguished manufacturer of vehicle e-motors, with the intent of mass-producing axial flux motors. Application Across Diverse Industries Axial flux motors find an ideal fit in a multitude of commercial applications, encompassing industrial robots, pumps, compressors, electric vehicles, and drones, attributable to their diminutive size and elevated power density. In particular, they offer a substantial advantage in torque production, surpassing radial motors by 30-40% while maintaining a superior power density. Notably, the yokeless version of axial flux motors is poised to secure an expanding share in the ever-evolving electric motor market. Regional Market Dynamics and Segmentation In the context of regional dynamics, the Asia-Pacific region, recognized as the largest market for electric vehicles, is expected to manifest a robust Compound Annual Growth Rate during the forecast period. Additionally, the European region, housing a significant share, exercises dominance over the market. Furthermore, in light of vehicle type, the passenger car segment currently holds a prominent position in the market, attributed to the global upsurge in electric passenger vehicle sales. Battery electric vehicles dominate the market in terms of market coverage, followed closely by plug-in hybrid electric vehicles. As for the demand category, Original Equipment Manufacturers (OEMs) are anticipated to command a leading position in the global automotive axial flux motor market. Electrification Catalyst for Strong Growth in the Global Automotive Axial Flux Motors Market In recent years, the global automotive axial flux motors market has witnessed a remarkable upswing, propelled by a formidable force in the form of the ongoing electrification revolution within the automotive sector. As the demand for electric vehicles (EVs) continues to surge, automotive manufacturers are increasingly turning to axial flux technology to power their electric drivetrains. Axial flux motors present a multitude of advantages over their conventional radial flux counterparts, including heightened power density, enhanced efficiency, and a more compact design. These inherent qualities make axial flux motors exceptionally well-suited for EV applications, contributing to extended driving ranges, swifter acceleration, and overall superior performance. With governments advocating sustainable transportation and consumers embracing electric mobility, the global automotive axial flux motors market is poised for substantial expansion, reshaping the future landscape of the automotive industry. Challenges and Limitations 1. Rapid Technological Progress The global automotive axial flux motors market grapples with notable challenges amidst the swift progression of technology within the industry. Despite the array of benefits that axial flux motors offer, such as elevated power density, compact configurations, and enhanced efficiency, the market confronts hurdles related to initial high costs and a limited infrastructure for manufacturing and maintenance. Additionally, the scarcity of adequately trained technicians and the necessity for specialized expertise in axial flux motor installation and maintenance introduce further complexities. The market's growth is also hampered by the constrained availability of essential raw materials required for axial flux motor production, leading to disruptions in the supply chain. These limitations present substantial barriers to the widespread adoption of automotive axial flux technology. Impact of the COVID-19 Pandemic on the Global Automotive Axial Flux Motors Market The global automotive axial flux motors market felt the significant reverberations of the COVID-19 pandemic, which brought about extensive disruptions across the industry. Measures such as lockdowns, supply chain interruptions, and reduced consumer expenditures contributed to a decline in demand for automotive axial flux products. Manufacturers encountered difficulties in procuring essential raw materials and components, resulting in production delays and escalated costs. The shutdown of automotive facilities and decreased vehicle sales further dampened the market's prospects. Nevertheless, the industry exhibited resilience by embracing digital platforms for sales and exploring innovative strategies. As the world embarks on the path to recovery from the pandemic, the automotive axial flux market is expected to gradually rebound, driven by the increasing adoption of electric vehicles and government initiatives aimed at promoting sustainable transportation. Customers can also request for 10% free customization on this report. Detailed Market Segmentation The global automotive axial flux motor market offers a nuanced segmentation, encompassing various dimensions:
The global automotive axial flux motor market presents a multifaceted landscape characterized by its dynamic growth potential, diverse applications, and extensive regional and segment-based variations. Some of the major companies operating in the Global Automotive Axial Flux Motor Market include:
These are the key players developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers with tech firms, new product developments, and marketing activities to increase customer outreach. “The demand for the automotive axial flux market is expected to increase in the next few years owing to significant companies investing in the technology and rising sales of electric vehicles in several nations. Europe and the CIS region is expected to continue to lead by 2027, but Asia-Pacific will register a high CAGR owing to the region's significant sales of electric vehicles,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm. “Automotive Axial Flux Motor Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027F, Segmented By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two Wheeler, Two Wheeler), By Propulsion (BEV, HEV, PHEV), By Demand Category (OEM, Aftermarket), By Region, Competition” has evaluated the future growth potential of Global Automotive Axial Flux Motor Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Automotive Axial Flux Motor Market. Download Free Sample Report - https://www.techsciresearch.com/sample-report.aspx?cid=8273 Recently Published Reports – Automotive Axial Flux Motor Market Electric Passenger Car Components Market Electric Two-Wheeler Components Market
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