Axial Flux Motors Market is Expected to be Dominated by Europe Until 2028

Increasing demand from EVs and growing requirement of axial flux motors in wind turbine generators are expected to drive the global axial flux motors market during the forecast period of 2024-2028.

According to TechSci Research report, “Axial Flux Motors Market – Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018–2028,” the Global Axial Flux Motors Market is anticipated to register a robust growth during the forecast period, 2024-2028. Axial flux motors are appropriate for applications that demand a high torque density in a small footprint. Axial flux motors are also known as flattened and pancake electrically commutated motors due to their extremely low axial length-to-diameter ratio. It delivers more torque and power density than radial flux motors while using the same electrical components. When an axial flux motor has this feature, the battery lasts longer, making these motors more economically viable. Furthermore, using axial motors minimizes vehicle weight by reducing the amount of space occupied by machinery. Transportation corporations' growing investment in the electric vehicle market would give substantial growth opportunities for the axial flux motor market.

Additionally, the rising demand for automatic controls in this sector is creating a high demand for substantially efficient AC synchronous motors across the world. Further, tax rebates for electric vehicles, government subsidies, improved vehicle performance and high reliability of axial flux motors are other driving factors for the market growth.

However, factors such as high production cost as well as an increase in upspring bulk are anticipated to block commercial applications of these motors. Also, the fact that these motors cannot be mounted on conventional automobiles and increasing incidents of failure are restraining the overall axial flux motors market. Moreover, restrictions such as Minimum Energy Performance Standards (MEPS) propel the growth of the global axial flux motors industry. The axial flux motors work efficiently without creating environmental problems such as air or noise pollution, global warming, and depletion of natural resources, which in turn is anticipated to boost the growth of the global axial flux motors market over the coming years.

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Global axial flux motors market is segmented into cooling process, type, power, end-user industry, region and competitive landscape. Based on the cooling process, the market is segmented into air cooling and liquid cooling. Based on type, the market is segmented into dual-rotor single stator, and single-rotor dual-stator. Based on power, the market is segmented into 1kW-15kW, 15kW-80kW, 80kW-160kW, Above 160kW. Based on end-user industry, the market is segmented into general manufacturing, power, construction, automotive, aerospace, marine, agriculture, and others. Based on region, the market is segmented into North America, Asia-Pacific, Europe, South America, Middle East & Africa.

Based on region, Europe dominated the global axial flux motors market in 2022 due to the government's aggressive measures for the adoption of electric vehicles, which has aided the sector's massive growth throughout Europe. The UK government spent a lot of money on delivery drones and electric scooters in March 2020, as part of a scheme called "making trips easier, smarter, and greener." As a result of such global investments, the axial flux motor sector will see significant expansion. In May 2019, YASA, a manufacturer of axial-flux electric motors based in the United Kingdom, announced that one of their products is powering Ferrari's first hybrid series production sports car, the SF90 Stradale, hence, driving the regional growth. Aside from that, high investment in European e-scooter start-up firms contributes significantly to the market's growth in this region. For instance, a Swedish e-scooter business, Voi, raised USD 160 million in funding in December 2020 to expand throughout European markets.

Major market players operating in the global axial flux motors market are:

• Avid Technology
• Emrax D.O
• Yasa Limited
• Lynch Motors
• Magnax BVBA
• Lucchi R Sol
• Nidec Corporation
• Agni Motors
• Saietta Group
• Ashwoods Electric Motors

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“The global axial flux motors market has its application advantages in compressors, blowers, robots, and others due to its compressed structure. The battery endorsement of axial flux motors is long enduring which makes it highly reasonable. Thus, the use of axial flux motor decreases down substantial cost and material usage of industries. The radial-axial flux motors are highly used in the robotics industry owing to the adjustable air gap and lower speed. Moreover, this market has its application in actuation owing to its unique and patent design. Unlike some other motor suppliers, axial flux motor suppliers ensure improved performance with high efficiency due to exceptionally low inertia provided by a real flux motor. The high performance of axial flux motors finds several applications in marine. Thus, the increasing trade across the world through water channels is anticipated to fasten up the axial flux motor market growth.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Axial Flux Motors Market- Global Industry Size, Share, Trends, Opportunities, and Forecast 2018-2028 Segmented By Cooling Process (Air Cooling, and Liquid Cooling), By Type (Dual-Rotor Single Stator, and Single-Rotor Dual-Stator),By Power (1kW-15kW, 15kW-80kW, 80kW-160kW, Above 160kW), By End-User Industry (General Manufacturing, Power, Construction, Automotive, Aerospace, Marine, Agriculture, Others), By Region, Competition”, has evaluated the future growth potential of global axial flux motors 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 axial flux motors market.

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