The Global Axial Flux Motor Market is valued at approximately USD 1.07 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 8.62% over the forecast period 2024-2032. An axial flux motor, a type of electric motor, distinguishes itself by the direction in which its magnetic flux moves. The magnetic flux moves parallel to the axis of rotation, unlike traditional radial flux motors, where the flux moves radially from the center out toward the circumference. This design enables a more compact and efficient architecture, often resulting in a lighter and smaller motor capable of delivering comparable or superior performance to its radial counterpart.
The push toward electrification and the global demand for more efficient and smaller motors for electric vehicles further propels the demand for axial flux motors. In addition, the growing emphasis on sustainable energy solutions has increased the demand for efficient motors in renewable energy applications resulting in market growth. However, technical limitations in thermal management and integrating axial flux motors into existing systems are significant challenges for manufacturers which is hindering the market growth. Moreover, developing new materials, such as high-performance magnets and improved electrical steel, could enhance motor efficiency and reduce costs. There is also potential in modular and scalable motor designs, allowing for a wider range of applications.
Key regions considered for the global Axial Flux Motor market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, North America dominated the market, driven by the presence of major market players and advanced industrial and automotive infrastructure. The U.S. and Canada have shown significant interest in axial flux motors due to their efficiency and compact form, crucial for electric vehicle advancements. Europe also shows significant potential, with strong regulatory frameworks for energy efficiency and substantial funding for research. The Asia-Pacific region is anticipated to witness the fastest growth due to the accelerating electric vehicle (EV) market, particularly in countries such as China, Japan, and India. This region's rapid industrialization and urbanization contribute to increased demand for high-efficiency motors for applications in automotive, industrial automation, and renewable energy sectors.
Major market players included in this report are:
- Agni Motors Ltd
- Altair Engineering Inc.
- American Precision Industries, Inc. by Regal Rexnord Corporation
- Ashwoods Electric Motors Limited By Dana Tm4 Inc.
- Beyond Motors, d.o.o.
- ECM PCB Stator Technology
- EMRAX d.o.o.
- Evolito Ltd
- Faststream Technologies
- GKN Powder Metallurgy Engineering GMBH
The detailed segments and sub-segment of the market are explained below:
By Component:
- Bearings
- Cooling Systems
- Magnets
- Rotors
- Stators
By Power Rating:
- 15kw-80kw
- 1kw-15kw
- 80kw-160kw
- Above 160kw
By Voltage:
- High Voltage
- Low Voltage
- Medium Voltage
By Application:
- Commercial Vehicles
- Electric Drones
- Electric Passenger Vehicles
- Elevators
- Industrial Machinery
- Robotics Actuators
- Yachts & Electric Boats
By End-User Industry:
- Aerospace & Defense
- Automotive
- Manufacturing & Industrial
- Marine
- Renewable Energy
- Transportation & Logistics
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market
Table of Contents
Chapter 1. Global Axial Flux Motor Market Executive Summary
- 1.1. Global Axial Flux Motor Market Size & Forecast (2022- 2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Component
- 1.3.2. By Power Rating
- 1.3.3. By Voltage
- 1.3.4. By Application
- 1.3.5. By End-User Industry
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Axial Flux Motor Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Axial Flux Motor Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Push Toward Electrification and Demand for Efficient Motors
- 3.1.2. Growing Emphasis on Sustainable Energy Solutions
- 3.1.3. Technological Advancements in Components
- 3.2. Market Challenges
- 3.2.1. Technical Limitations in Thermal Management
- 3.2.2. Integration Challenges into Existing Systems
- 3.3. Market Opportunities
- 3.3.1. Development of High-Performance Materials
- 3.3.2. Potential in Modular and Scalable Motor Designs
- 3.3.3. Expansion into Emerging Markets
Chapter 4. Global Axial Flux Motor Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Axial Flux Motor Market Size & Forecasts by Component 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Axial Flux Motor Market: Component Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Bearings
- 5.2.2. Cooling Systems
- 5.2.3. Magnets
- 5.2.4. Rotors
- 5.2.5. Stators
Chapter 6. Global Axial Flux Motor Market Size & Forecasts by Power Rating 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Axial Flux Motor Market: Power Rating Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. 15kw-80kw
- 6.2.2. 1kw-15kw
- 6.2.3. 80kw-160kw
- 6.2.4. Above 160kw
Chapter 7. Global Axial Flux Motor Market Size & Forecasts by Voltage 2022-2032
- 7.1. Segment Dashboard
- 7.2. Global Axial Flux Motor Market: Voltage Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. High Voltage
- 7.2.2. Low Voltage
- 7.2.3. Medium Voltage
Chapter 8. Global Axial Flux Motor Market Size & Forecasts by Application 2022-2032
- 8.1. Segment Dashboard
- 8.2. Global Axial Flux Motor Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 8.2.1. Commercial Vehicles
- 8.2.2. Electric Drones
- 8.2.3. Electric Passenger Vehicles
- 8.2.4. Elevators
- 8.2.5. Industrial Machinery
- 8.2.6. Robotics Actuators
- 8.2.7. Yachts & Electric Boats
Chapter 9. Global Axial Flux Motor Market Size & Forecasts by End-User Industry 2022-2032
- 9.1. Segment Dashboard
- 9.2. Global Axial Flux Motor Market: End-User Industry Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 9.2.1. Aerospace & Defense
- 9.2.2. Automotive
- 9.2.3. Manufacturing & Industrial
- 9.2.4. Marine
- 9.2.5. Renewable Energy
- 9.2.6. Transportation & Logistics
Chapter 10. Global Axial Flux Motor Market Size & Forecasts by Region 2022-2032
- 10.1. North America Axial Flux Motor Market
- 10.1.1. U.S. Axial Flux Motor Market
- 10.1.1.1. Component breakdown size & forecasts, 2022-2032
- 10.1.1.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.1.1.3. Voltage breakdown size & forecasts, 2022-2032
- 10.1.1.4. Application breakdown size & forecasts, 2022-2032
- 10.1.1.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.1.2. Canada Axial Flux Motor Market
- 10.1.2.1. Component breakdown size & forecasts, 2022-2032
- 10.1.2.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.1.2.3. Voltage breakdown size & forecasts, 2022-2032
- 10.1.2.4. Application breakdown size & forecasts, 2022-2032
- 10.1.2.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.2. Europe Axial Flux Motor Market
- 10.2.1. UK Axial Flux Motor Market
- 10.2.1.1. Component breakdown size & forecasts, 2022-2032
- 10.2.1.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.2.1.3. Voltage breakdown size & forecasts, 2022-2032
- 10.2.1.4. Application breakdown size & forecasts, 2022-2032
- 10.2.1.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.2.2. Germany Axial Flux Motor Market
- 10.2.2.1. Component breakdown size & forecasts, 2022-2032
- 10.2.2.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.2.2.3. Voltage breakdown size & forecasts, 2022-2032
- 10.2.2.4. Application breakdown size & forecasts, 2022-2032
- 10.2.2.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.2.3. France Axial Flux Motor Market
- 10.2.3.1. Component breakdown size & forecasts, 2022-2032
- 10.2.3.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.2.3.3. Voltage breakdown size & forecasts, 2022-2032
- 10.2.3.4. Application breakdown size & forecasts, 2022-2032
- 10.2.3.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.2.4. Spain Axial Flux Motor Market
- 10.2.4.1. Component breakdown size & forecasts, 2022-2032
- 10.2.4.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.2.4.3. Voltage breakdown size & forecasts, 2022-2032
- 10.2.4.4. Application breakdown size & forecasts, 2022-2032
- 10.2.4.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.2.5. Italy Axial Flux Motor Market
- 10.2.5.1. Component breakdown size & forecasts, 2022-2032
- 10.2.5.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.2.5.3. Voltage breakdown size & forecasts, 2022-2032
- 10.2.5.4. Application breakdown size & forecasts, 2022-2032
- 10.2.5.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.2.6. Rest of Europe Axial Flux Motor Market
- 10.2.6.1. Component breakdown size & forecasts, 2022-2032
- 10.2.6.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.2.6.3. Voltage breakdown size & forecasts, 2022-2032
- 10.2.6.4. Application breakdown size & forecasts, 2022-2032
- 10.2.6.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.3. Asia-Pacific Axial Flux Motor Market
- 10.3.1. China Axial Flux Motor Market
- 10.3.1.1. Component breakdown size & forecasts, 2022-2032
- 10.3.1.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.3.1.3. Voltage breakdown size & forecasts, 2022-2032
- 10.3.1.4. Application breakdown size & forecasts, 2022-2032
- 10.3.1.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.3.2. India Axial Flux Motor Market
- 10.3.2.1. Component breakdown size & forecasts, 2022-2032
- 10.3.2.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.3.2.3. Voltage breakdown size & forecasts, 2022-2032
- 10.3.2.4. Application breakdown size & forecasts, 2022-2032
- 10.3.2.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.3.3. Japan Axial Flux Motor Market
- 10.3.3.1. Component breakdown size & forecasts, 2022-2032
- 10.3.3.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.3.3.3. Voltage breakdown size & forecasts, 2022-2032
- 10.3.3.4. Application breakdown size & forecasts, 2022-2032
- 10.3.3.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.3.4. Australia Axial Flux Motor Market
- 10.3.4.1. Component breakdown size & forecasts, 2022-2032
- 10.3.4.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.3.4.3. Voltage breakdown size & forecasts, 2022-2032
- 10.3.4.4. Application breakdown size & forecasts, 2022-2032
- 10.3.4.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.3.5. South Korea Axial Flux Motor Market
- 10.3.5.1. Component breakdown size & forecasts, 2022-2032
- 10.3.5.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.3.5.3. Voltage breakdown size & forecasts, 2022-2032
- 10.3.5.4. Application breakdown size & forecasts, 2022-2032
- 10.3.5.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.3.6. Rest of Asia Pacific Axial Flux Motor Market
- 10.3.6.1. Component breakdown size & forecasts, 2022-2032
- 10.3.6.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.3.6.3. Voltage breakdown size & forecasts, 2022-2032
- 10.3.6.4. Application breakdown size & forecasts, 2022-2032
- 10.3.6.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.4. Latin America Axial Flux Motor Market
- 10.4.1. Brazil Axial Flux Motor Market
- 10.4.1.1. Component breakdown size & forecasts, 2022-2032
- 10.4.1.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.4.1.3. Voltage breakdown size & forecasts, 2022-2032
- 10.4.1.4. Application breakdown size & forecasts, 2022-2032
- 10.4.1.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.4.2. Mexico Axial Flux Motor Market
- 10.4.2.1. Component breakdown size & forecasts, 2022-2032
- 10.4.2.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.4.2.3. Voltage breakdown size & forecasts, 2022-2032
- 10.4.2.4. Application breakdown size & forecasts, 2022-2032
- 10.4.2.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.4.3. Rest of Latin America Axial Flux Motor Market
- 10.4.3.1. Component breakdown size & forecasts, 2022-2032
- 10.4.3.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.4.3.3. Voltage breakdown size & forecasts, 2022-2032
- 10.4.3.4. Application breakdown size & forecasts, 2022-2032
- 10.4.3.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.5. Middle East & Africa Axial Flux Motor Market
- 10.5.1. Saudi Arabia Axial Flux Motor Market
- 10.5.1.1. Component breakdown size & forecasts, 2022-2032
- 10.5.1.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.5.1.3. Voltage breakdown size & forecasts, 2022-2032
- 10.5.1.4. Application breakdown size & forecasts, 2022-2032
- 10.5.1.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.5.2. South Africa Axial Flux Motor Market
- 10.5.2.1. Component breakdown size & forecasts, 2022-2032
- 10.5.2.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.5.2.3. Voltage breakdown size & forecasts, 2022-2032
- 10.5.2.4. Application breakdown size & forecasts, 2022-2032
- 10.5.2.5. End-User Industry breakdown size & forecasts, 2022-2032
- 10.5.3. Rest of Middle East & Africa Axial Flux Motor Market
- 10.5.3.1. Component breakdown size & forecasts, 2022-2032
- 10.5.3.2. Power Rating breakdown size & forecasts, 2022-2032
- 10.5.3.3. Voltage breakdown size & forecasts, 2022-2032
- 10.5.3.4. Application breakdown size & forecasts, 2022-2032
- 10.5.3.5. End-User Industry breakdown size & forecasts, 2022-2032
Chapter 11. Competitive Intelligence
- 11.1. Key Company SWOT Analysis
- 11.1.1 Company 1
- 11.1.2 Company 2
- 11.1.3 Company 3
- 11.2. Top Market Strategies
- 11.3. Company Profiles
- 11.3.1. Agni Motors Ltd
- 11.3.1.1. Key Information
- 11.3.1.2. Overview
- 11.3.1.3. Financial (Subject to Data Availability)
- 11.3.1.4. Product Summary
- 11.3.1.5. Market Strategies
- 11.3.2. Altair Engineering Inc.
- 11.3.3. American Precision Industries, Inc. by Regal Rexnord Corporation
- 11.3.4. ASHWOODS ELECTRIC MOTORS LIMITED by DANA TM4 INC.
- 11.3.5. Beyond Motors, d.o.o.
- 11.3.6. ECM PCB Stator Technology
- 11.3.7. EMRAX d.o.o.
- 11.3.8. Evolito Ltd
- 11.3.9. Faststream Technologies
- 11.3.10. GKN Powder Metallurgy Engineering GMBH
Chapter 12. Research Process
- 12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
- 12.2. Research Attributes