According to TechSci Research the Global Automotive Axial Flux Motor Market was worth USD 108 million in 2021 and is expected to grow at a CAGR of 29.80% by 2027. This is because axial flux motors, which have higher power efficiency, a compact size, and a high torque specification, have the potential to replace radial motors. Unlike radial motors, axial flux motors have a distinct geometry with magnetic flux direction parallel to the motor rotation axis. These motors use the same electrical components as radial flux motors, but have better torque and power density. Due to their extremely low axial length-to-diameter ratio, axial flux motors are sometimes referred to as flat motors and can operate using brushed DC, induction, and stepper motor principles
The International Energy Agency's (IEA) Global Electric Vehicle Outlook reported that in 2021, electric vehicle sales reached 6.6 million, indicating a shift towards electric vehicles as a solution to environmental issues. This has a positive impact on the growth of the automotive axial flux market, as axial flux motors are predominantly used in electric vehicles due to their small size, light weight, and efficiency. Additionally, axial flux motors are comparable to turbocharged engines in terms of internal combustion engines, but require strong hardware and electromagnetic motor designs. In order to expand motor production, Mercedes acquired YASA, a manufacturer of axial flux motors, in 2022, and Belgian company Magnax raised 20 million euros in August 2022 for axial flux motor development and manufacturing. To create axial flux motors on a large scale, the Renault Group purchased a 21% minority investment in Whylot, a maker of vehicle e-motors, in November 2021.
Axial flux motors are perfect for commercial machinery such as industrial robots, pumps, compressors, electrical vehicles, and drones due to their small size and high-power density. Axial flux motors produce 30–40% greater torque and have a higher power density than radial motors of equal size. Axial flux motors, and in particular the yokeless version, are anticipated to capture an ever-increasing share of the expanding electric motor market.
The Asia-Pacific region being the largest market for electric vehicles is expected to register a high CAGR during the forecast period. Moreover, European region having majority of shares dominate the market. On the basis of vehicle type, passenger car segment is dominating the market currently owing to global rise in electric passenger vehicle sales. Majority of market is covered by battery electric vehicles followed by plug-in hybrid electric vehicles. Based on demand category, OEM is expected to dominate the global automotive axial flux motor market.
The global automotive axial flux motor market can be segmented on the basis of vehicle type, propulsion, demand category, and region. Based on vehicle type, the market is further segmented into passenger car, light commercial vehicle, medium & heavy commercial vehicle, and two wheeler. Based on propulsion type, the market is further split into BEV, HEV, and PHEV. Based on demand category, the market is divided into OEM, Aftermarket. On the basis of region, the market is divided among Asia-Pacific, Europe & CIS, North America, South America, Middle East & Africa.
Some of the major companies operating in the Global Automotive Axial Flux Motor Market include:
- Whylot Electromechanical Solutions
- Emrax D.o.o.
- Lucchi R. E Motor Solution
- Agni Motors Ltd.
- YASA Limited
- Magnax BV
- Saietta Group Plc
- Turntide Technologies
- Maglec Propulsion Ltd
- Dana TM4
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.
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“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.
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