India Electric Vehicle Motor Market Size & Insights

The  India Electric Vehicle Motor Market size was valued at around USD 0.898 billion in 2024 and is projected to reach USD 2.889 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 21.5% during the forecast period, i.e., 2025-30. The growth of the industry is motivated by rising electric vehicle sales supported by the emergence of environmental concerns, expanding charging infrastructure, reduced running costs, and a burgeoning middle class. The Federation of Automobile Dealers' Association has stated that in 2023, about 82,688 electric vehicles were sold in India, and by 2024, this figure is set to rise by nearly 20 percent to over 100,000 units. And with every such vehicle going with the motor, there will be a need for motors simultaneously.

What are the Key DROs in the India Electric Vehicle Motor Market??

Increasing Sale of Electric Vehicles Driving Market Growth – The sale of electric vehicles in India has been continuously increasing. There is growing traction for electric vehicles among the Indian population owing to reducing travel expenses to a bare minimum and being environment-friendly. As per the India Brand Equity Foundation, it was suggested that about 50% of all three-wheeler purchases will become electric in 2024, around 5% for two-wheelers, and nearly 2% for captive cars. They are thronged by electric motors, which use battery-supplied electrical energy for propulsion, across the board for all of these automobiles. Increasing production of such vehicles supports their growing demand with increasing demand for motors. This means there is an impetus for sharp growth in the motor market due to the revival of EV sales, which is also expected to remain alive in the coming forecast period.

What are the Key Segments in the India Electric Vehicle Motor Market?

The India Electric Vehicle Motor Market is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

• By Vehicle Type
• Electric Passenger Cars- Market Size & Forecast 2020-2030, USD Billion
• Sedan- Market Size & Forecast 2020-2030, USD Billion
• Hatchback- Market Size & Forecast 2020-2030, USD Billion
• SUV- Market Size & Forecast 2020-2030, USD Billion
• Electric Commercial Vehicles- Market Size & Forecast 2020-2030, USD Billion
• Electric Light Commercial Vehicles- Market Size & Forecast 2020-2030, USD Billion
• Electric Light Trucks- Market Size & Forecast 2020-2030, USD Billion
• Electric Minivans- Market Size & Forecast 2020-2030, USD Billion
• Electric Medium & Heavy Commercial Vehicles- Market Size & Forecast 2020-2030, USD Billion
• Electric Trucks- Market Size & Forecast 2020-2030, USD Billion
• Electric Bus- Market Size & Forecast 2020-2030, USD Billion
• Electric Two Wheelers- Market Size & Forecast 2020-2030, USD Billion
• Electric Scooters- Market Size & Forecast 2020-2030, USD Billion
• Electric Motorcycles- Market Size & Forecast 2020-2030, USD Billion
• Electric Three Wheelers- Market Size & Forecast 2020-2030, USD Billion
• By Type
• AC Motor- Market Size & Forecast 2020-2030, USD Billion
• DC Motor- Market Size & Forecast 2020-2030, USD Billion
• By Motor Type
• Brushless Motors- Market Size & Forecast 2020-2030, USD Billion
• Brushed Motors- Market Size & Forecast 2020-2030, USD Billion
• Induction (Asynchronous) Motors- Market Size & Forecast 2020-2030, USD Billion
• Switched Reluctance Motors- Market Size & Forecast 2020-2030, USD Billion
• Synchronous Motors- Market Size & Forecast 2020-2030, USD Billion

Based on the type of motor, brushless motors dominate the market with a share of around 48%.

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• By Component
• Motor Stator- Market Size & Forecast 2020-2030, USD Billion
• Rotor, Shaft, and Bearing- Market Size & Forecast 2020-2030, USD Billion
• Permanent Magnet- Market Size & Forecast 2020-2030, USD Billion
• Casing- Market Size & Forecast 2020-2030, USD Billion
• Wiring & Connectors- Market Size & Forecast 2020-2030, USD Billion
• Others- Market Size & Forecast 2020-2030, USD Billion
• By Power Rating
• Up to 20 kW- Market Size & Forecast 2020-2030, USD Billion
• 21 kW to 100 kW- Market Size & Forecast 2020-2030, USD Billion
• 101 kW to 250 kW- Market Size & Forecast 2020-2030, USD Billion
• Above 250 kW- Market Size & Forecast 2020-2030, USD Billion

How does geographical analysis highlight in the India Electric Vehicle Motor market?

By Region

• North
• South
• East
• West

Who are the Key Players in India Electric Vehicle Motor Market?

• 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

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India Electric Vehicle Motor Market News

• 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.
• 2024: Nidec Corporation collaborated with Ashok Leyland, a leading commercial vehicle manufacturer in India. This collaboration aimed to provide an electric motor-controller system (“E-Drive”) for commercial vehicles to Ashok Leyland, as vehicle electrification is gaining momentum

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