Light Commercial Vehicles Axial Flux Motors Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Propulsion (BEV, HEV, PHEV), By Demand Category (OEM, Aftermarket) By Region, By Competition, 2018-2028

  • Industry : Automotive
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 36 million

CAGR (2023-2028)

5.65%

Fastest Growing Segment

HEV

Largest Market

Europe


Market Overview

Global Light Commercial Vehicles Axial Flux Motors Market has valued at USD 36 million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.65% through 2028. The global light commercial vehicle (LCV) axial flux motors market is poised at the forefront of the transportation industry's transformation towards sustainability, efficiency, and electrification. In response to environmental concerns and increasingly stringent emissions regulations, there is a growing momentum to electrify LCVs, and axial flux motors have emerged as a pivotal component in this transition. These motors offer a compelling solution, characterized by their high efficiency, compact design, and versatility in various commercial applications. As governments worldwide set ambitious emission reduction targets, fleet operators and businesses are turning to electric LCVs equipped with axial flux motors to align with these regulatory mandates and reduce their carbon footprint. The market is not without its challenges, including cost considerations, energy density limitations, infrastructure development, integration complexities, and the need for market education. However, these challenges are driving innovation, collaboration, and investment in the electric LCV sector. The demand for electric LCVs is growing as businesses recognize the long-term cost savings and environmental benefits associated with them. Furthermore, as battery technology evolves, electric LCVs are expected to overcome range limitations and provide the extended driving ranges necessary for various commercial applications. The ongoing development of charging infrastructure will facilitate convenient access to fast-charging stations, minimizing downtime for LCV fleets.

Key Market Drivers

Electrification and Emission Reduction Targets

One of the primary drivers powering the global LCV axial flux motors market is the escalating global trend toward electrification and the stringent emission reduction targets set by governments worldwide. As concerns about climate change and air quality intensify, many countries are implementing aggressive emission reduction goals. Electric LCVs, powered by axial flux motors, have emerged as a compelling solution to meet these targets. These motors offer superior efficiency and power-to-weight ratios, making them ideal for electric powertrains in LCVs. Furthermore, electric LCVs produce zero tailpipe emissions, aligning perfectly with environmental regulations and sustainability objectives. As governments incentivize electric vehicle adoption and impose stricter emissions standards, the demand for axial flux motors in electric LCVs is expected to soar.

Advancements in Electric Vehicle Technology

The global LCV axial flux motors market is significantly driven by advancements in electric vehicle (EV) technology. As battery technology improves, offering higher energy density and longer ranges, electric LCVs equipped with axial flux motors become increasingly viable for a broader range of applications. Axial flux motors are a critical component of this advancement due to their efficiency, power density, and ability to enhance the overall performance of electric LCVs. These motors are integral to achieving desirable torque characteristics and energy efficiency, both of which are vital for commercial applications. As technology continues to evolve, axial flux motors are expected to play a central role in enhancing the capabilities of electric LCVs, expanding their adoption in various industries.

Economic Viability and Total Cost of Ownership (TCO)

Economic considerations are instrumental in driving the global LCV axial flux motors market. Fleet operators and businesses are increasingly evaluating the total cost of ownership (TCO) when making vehicle procurement decisions. Electric LCVs, equipped with axial flux motors, are becoming more economically attractive due to lower operating costs, including reduced fuel expenses and maintenance requirements. While the upfront cost of electric LCVs may be higher than that of their conventional counterparts, the long-term savings associated with electric propulsion make them a financially prudent choice. The cost-effectiveness of electric LCVs, driven by the efficiency and reliability of axial flux motors, is encouraging fleet operators to transition to electric fleets, further boosting the demand for these motors.

Government Incentives and Policy Support

Government incentives and policy support are pivotal drivers in the global LCV axial flux motors market. Governments worldwide are actively promoting electric mobility by offering financial incentives, tax credits, and rebates for electric vehicle purchases. Additionally, many regions are investing in charging infrastructure and implementing favorable policies such as zero-emission zones and stricter emission standards for urban areas. These initiatives create a conducive environment for the adoption of electric LCVs equipped with axial flux motors. Commercial fleet operators are more inclined to invest in electric vehicles when they can take advantage of these incentives, leading to a surge in demand for axial flux motors.

Consumer and Corporate Sustainability Goals

The growing emphasis on sustainability among consumers and corporations is a significant driver of the global LCV axial flux motors market. Increasingly, consumers and businesses are prioritizing eco-friendly transportation solutions and demonstrating a commitment to reducing their carbon footprint. Electric LCVs powered by axial flux motors align perfectly with these sustainability goals, offering a clean and efficient alternative to traditional ICE-powered vehicles. Additionally, companies that adopt electric LCVs often find that they can enhance their brand image, appeal to environmentally conscious customers, and meet corporate social responsibility objectives. As sustainability gains prominence, the demand for electric LCVs equipped with axial flux motors is expected to increase, positioning these motors as crucial components in achieving sustainable transportation solutions.

 

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Key Market Challenges

Cost Considerations and Initial Investment Challenges

One of the primary challenges facing the global LCV axial flux motors market is the cost associated with these motors and the initial investment required for electric LCVs. While axial flux motors offer several advantages, including higher efficiency and power density, they tend to be more expensive to manufacture compared to traditional radial flux motors. This elevated manufacturing cost can be a significant barrier to entry for both automakers and fleet operators, particularly those seeking cost-effective solutions for their commercial vehicle fleets. The initial purchase price of electric LCVs, which incorporates the cost of axial flux motors, batteries, and related components, can be higher than that of equivalent ICE vehicles, making the transition to electric fleets financially challenging for businesses.

Moreover, although the total cost of ownership (TCO) for electric LCVs is generally lower due to reduced operating and maintenance expenses, fleet operators often face constraints in obtaining the necessary upfront capital for such investments. Overcoming these cost challenges and ensuring that electric LCVs with axial flux motors are competitively priced will be essential to driving broader adoption in the commercial vehicle sector.

Energy Density and Range Limitations

Energy density and range limitations of current battery technology are significant challenges affecting the global LCV axial flux motors market. While axial flux motors are highly efficient and offer a favorable power-to-weight ratio, the range of electric LCVs equipped with these motors is often constrained by the capacity of the onboard batteries. Batteries store the energy required to power the vehicle and the motor, and advancements in energy density are crucial to extending the range of electric LCVs. Although progress is being made in battery technology, with increased energy density and faster charging capabilities, limitations persist. Commercial vehicles often require extended ranges to meet the demands of various applications, such as delivery routes or transportation services, which can involve longer distances and frequent stops. Overcoming range limitations while maintaining affordability is a key challenge for the LCV axial flux motors market, as it necessitates ongoing advancements in battery technology and infrastructure development, such as widespread fast-charging networks.

Infrastructure Development and Charging Accessibility

The availability and accessibility of charging infrastructure pose significant challenges to the global LCV axial flux motors market. Electric LCVs rely on a network of charging stations to support their operation, and the lack of a robust charging infrastructure can limit the practicality and adoption of these vehicles. For businesses operating LCV fleets, having access to reliable and conveniently located charging facilities is essential for seamless daily operations. Additionally, the development of fast-charging infrastructure is crucial to minimize downtime for commercial vehicles during recharging. Axial flux motors offer the efficiency and power required for commercial applications, but their utility is constrained if charging infrastructure cannot support quick turnarounds. The pace at which governments and private entities invest in charging infrastructure development and deployment will significantly influence the growth of the LCV axial flux motors market, with a particular focus on urban and regional hubs where commercial vehicles are in high demand.

Integration Complexity and Compatibility

Integrating axial flux motors into LCVs and ensuring compatibility with other vehicle components and systems present another set of challenges. Commercial vehicles often have complex powertrain and control systems designed to meet specific performance and operational requirements. Axial flux motors must seamlessly integrate with these systems, including battery management, vehicle control, regenerative braking, and safety features. Achieving this integration while maintaining optimal efficiency and performance can be technically demanding and requires collaboration between motor manufacturers and vehicle manufacturers. Compatibility challenges can also arise when retrofitting existing LCVs with electric powertrains, as these vehicles may not have been originally designed with electric propulsion in mind. Addressing integration complexity and compatibility issues is critical to ensuring that electric LCVs with axial flux motors deliver the expected performance, reliability, and safety required for commercial applications.

Market Education and Awareness

Market education and awareness present a unique challenge for the global LCV axial flux motors market, particularly in the context of commercial fleet operators and buyers. Many stakeholders in the commercial vehicle sector may have limited familiarity with electric propulsion and the benefits of axial flux motors. The shift from traditional ICE vehicles to electric LCVs requires a significant change in mindset, operational practices, and infrastructure planning. Fleet operators need to understand the economic and environmental advantages of electric LCVs, as well as the long-term savings and reduced total cost of ownership. Additionally, they must be aware of the capabilities of axial flux motors in terms of power delivery, efficiency, and reliability. Market education efforts, including training programs, informational campaigns, and collaboration between industry stakeholders and government bodies, are essential to bridge the knowledge gap and accelerate the adoption of axial flux motors in the commercial vehicle sector.

Key Market Trends

Rapid Electrification of Light Commercial Vehicles

One of the most transformative trends in the global LCV axial flux motors market is the rapid electrification of light commercial vehicles. Governments worldwide are imposing stricter emission standards and encouraging the adoption of electric vehicles (EVs) to mitigate environmental impacts. As a result, commercial fleet operators are increasingly transitioning from traditional internal combustion engine (ICE) LCVs to electric LCVs, powered by axial flux motors. Axial flux motors are favored for their high power-to-weight ratio, making them well-suited for commercial applications where torque and efficiency are critical. This trend is expected to drive substantial growth in the demand for axial flux motors for LCVs, as fleet operators seek cleaner, more cost-effective, and reliable transportation solutions.

Technological Advancements and Integration

The LCV axial flux motors market is witnessing significant technological advancements. Innovations in motor design, materials, and manufacturing processes are enhancing motor efficiency and performance. Moreover, the integration of advanced control systems and sensors is optimizing motor operation and ensuring precise torque delivery, which is particularly important in commercial applications. Additionally, the integration of regenerative braking and energy recovery systems is becoming more common, further improving energy efficiency and reducing operating costs for LCVs. These technological advancements are essential as they not only enhance the competitiveness of axial flux motors but also make electric LCVs more attractive to commercial fleet operators.

Sustainability and Environmental Concerns

Sustainability and environmental concerns are driving forces behind the adoption of axial flux motors in LCVs. With an increasing emphasis on reducing greenhouse gas emissions and promoting eco-friendly transportation solutions, commercial fleet operators are under pressure to transition to electric and hybrid LCVs. Axial flux motors play a crucial role in this transition by offering higher energy efficiency and reduced carbon footprint compared to ICE counterparts. Moreover, the use of rare-earth materials in these motors is being addressed through recycling and alternative material research, further aligning axial flux motors with sustainability goals. The environmental benefits associated with axial flux motors are expected to drive market growth as companies seek to meet sustainability targets and address the growing demand for eco-conscious transportation.

Market Dynamics and Competition

Market dynamics and competition within the LCV axial flux motors market are evolving rapidly. As the demand for electric LCVs grows, various manufacturers are entering the market, leading to increased competition. Established automotive companies are expanding their electric LCV offerings, while new entrants and startups are introducing innovative solutions. This heightened competition is driving innovation and influencing pricing strategies, ultimately benefitting consumers. Moreover, strategic partnerships between automakers and motor manufacturers are forming to streamline the development and production of electric LCVs, reinforcing the importance of axial flux motors in the commercial vehicle segment.

Consumer Preferences and Customization

Consumer preferences are increasingly influencing the design and customization of electric LCVs equipped with axial flux motors. Commercial fleet operators are placing a premium on factors such as range, payload capacity, and vehicle versatility to meet diverse business needs. This trend has led to the development of specialized LCV models, including urban delivery vans, refrigerated trucks, and utility vehicles, each optimized for specific applications. Axial flux motors are well-suited to customization, as their compact design allows for flexible placement within the vehicle, optimizing space utilization. Additionally, consumer demands for user-friendly interfaces, connectivity features, and telematics systems are driving the integration of advanced technology in electric LCVs, where axial flux motors are central to achieving superior performance and efficiency.

Segmental Insights

Propulsion Type Analysis

Battery Electric Vehicles, Hybrid Electric Vehicles, and Plug-in Hybrid Electric Vehicles are the three propulsion-based sectors that make up the global automotive axial flux motors market. The battery electric vehicles (BEVs) sector accounts for the biggest share of the global market for automotive axial flux motors. BEVs are cars that only use electric power that is stored in batteries, providing zero-emission travel. The demand for BEVs has risen significantly in recent years due to the increased emphasis on sustainability and environmental issues. Due to the acceptance of electric mobility solutions and government programs supporting clean energy transportation, this market segment now holds a monopoly.

Demand Category Analysis

The OEM and Aftermarket divisions of the worldwide automotive axial flux motors market are separated based on demand type. The market for axial flux parts and systems that are directly supplied by producers to automotive firms for integration into new cars during the production process is referred to as the OEM segment. The market for axial flux products and services, on the other hand, is available for purchase and installation after the vehicle has been delivered to the end user and is included in the aftermarket category.

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Regional Insights

By the end of 2021, Europe held most of the global revenue generated by axial flux motors. The severe measures the government has implemented to encourage the adoption of electric vehicles are the reason for the market's strong expansion in Europe. In March 2020, the UK government reportedly made significant investments in electric scooters and delivery drones as part of the "making journeys easier, smarter and greener" project. The axial flux motor market has great prospects for growth thanks to these global investments. Another element fueling market expansion is the existence of rival companies operating in this sector.

The government's strong initiatives to promote the use of electric vehicles have contributed to the sector's tremendous expansion across Europe. In March 2020, the UK government reportedly spent a sizable sum on electric scooters and delivery drones as part of a program dubbed "making trips easier, smarter, and greener." These international investments will significantly increase the axial flux motor market. Energy-efficient electric motors have the potential to save energy, and nations all over the region are putting strict regulations and policies in place to promote the usage of Axial Flux motors. Axial Flux motors market growth in the region is also discussed in detail, as well as the current effective efficiency criteria in each major market. APAC is renowned for having a rapidly expanding automotive sector, which is being supported by developing nations like China, India, and Japan. The huge market size in APAC is mostly due to the region's strong emphasis on technical improvements, rising disposable income, and rising urbanization. Automotive axial flux technologies find a significant market in this area, drawing both domestic and foreign competitors.

Recent Developments

  • To provide the next-generation maritime propulsion solutions, Saietta Group plc created the Propel division of axial flux motors in November 2021. These axial flux motors use Flux Technology for supporting decarbonization and sustainable mobility on waterways. These motors provide the best possible performance and efficiency, which enables them to comply with impending laws in all the main cities.
  • To improve electrification capabilities and create sustainable electrification for industrial and commercial vehicles, Turntide Technologies bought AVID Technology in August 2021. The acquisition aims to bring together AVID's and technology to produce goods that can be used in industrial vehicles. In order to stop using rare earth magnets in electric vehicles, the acquisition was made.
  • In February 2021, Dana acquired Ashwoods Electric Motors to make it capable of manufacturing all core components of a fully integrated e-Drive system. With this acquisition, Ashwoods hopes to maintain its top employees who embrace Dana's high-volume excellence and promote a culture of growth. The company is also planning to offer Original Equipment Manufacturers (OEMs) a trusted network of breakthrough technologies

Key Market Players

  • Magnax BV
  • YASA Limited
  • Nidec Corporation
  • Saietta Group
  • EMRAX
  • Whylot Electromechanical Solutions
  • Agni Motors Ltd,
  • Turntide Technologies
  • Elaphe Propulsion Technologies,
  • Brusa Elektronik AG
  • PML Flightlink Ltd.

 
By Propulsion Type

By Demand Category

By Region
  • BEV
  • HEV
  • PHEV
  • OEM
  • Aftermarket
  • North America
  • Europe & CIS
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Light Commercial Vehicles Axial Flux Motors Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Light Commercial Vehicles Axial Flux Motors Market, By Propulsion Type:

o   BEV

o   HEV

o   PHEV

  • Light Commercial Vehicles Axial Flux Motors Market, By Demand Category:

o   OEM

o   Aftermarket

  • Light Commercial Vehicles Axial Flux Motors Market, By Region:

o   Asia-Pacific

§  China

§  India

§  Japan

§  Indonesia

§  Thailand

§  South Korea

§  Australia

o   Europe & CIS

§  Germany

§  Spain

§  France

§  Russia

§  Italy

§  United Kingdom

§  Belgium

o   North America

§  United States

§  Canada

§  Mexico

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Turkey

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Light Commercial Vehicles Axial Flux Motors Market.

Available Customizations:

Global Light Commercial Vehicles Axial Flux Motors market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

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Table of content

1.     Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Global Light Commercial Vehicles Axial Flux Motors Market

5.    Global Light Commercial Vehicles Axial Flux Motors Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value & Volume

5.2.  Market Share & Forecast

5.2.1.     By Propulsion Type Market Share Analysis (BEV, HEV, PHEV)

5.2.2.     By Demand Category Market Share Analysis (OEM, Aftermarket)

5.2.3.     By Regional Market Share Analysis

5.2.3.1.         Asia-Pacific Market Share Analysis

5.2.3.2.         Europe & CIS Market Share Analysis

5.2.3.3.         North America Market Share Analysis

5.2.3.4.         South America Market Share Analysis

5.2.3.5.         Middle East & Africa Market Share Analysis

5.2.4.     By Company Market Share Analysis (Top 5 Companies, Others - By Value & Volume, 2022)

5.3.  Global Light Commercial Vehicles Axial Flux Motors Market Mapping & Opportunity Assessment

5.3.1.     By Propulsion Type Market Mapping & Opportunity Assessment

5.3.2.     By Demand Category Market Mapping & Opportunity Assessment

5.3.3.     By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Light Commercial Vehicles Axial Flux Motors Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Propulsion Type Market Share Analysis

6.2.2.     By Demand Category Market Share Analysis

6.2.3.     By Country Market Share Analysis

6.2.3.1.         China Market Share Analysis

6.2.3.2.         India Market Share Analysis

6.2.3.3.         Japan Market Share Analysis

6.2.3.4.         Indonesia Market Share Analysis

6.2.3.5.         Thailand Market Share Analysis

6.2.3.6.         South Korea Market Share Analysis

6.2.3.7.         Australia Market Share Analysis

6.2.3.8.         Rest of Asia-Pacific Market Share Analysis

6.3.  Asia-Pacific: Country Analysis

6.3.1.     China Light Commercial Vehicles Axial Flux Motors Market Outlook

6.3.1.1.         Market Size & Forecast

6.3.1.1.1.             By Value & Volume

6.3.1.2.         Market Share & Forecast

6.3.1.2.1.             By Propulsion Type Market Share Analysis

6.3.1.2.2.             By Demand Category Market Share Analysis

6.3.2.     India Light Commercial Vehicles Axial Flux Motors Market Outlook

6.3.2.1.         Market Size & Forecast

6.3.2.1.1.             By Value & Volume

6.3.2.2.         Market Share & Forecast

6.3.2.2.1.             By Propulsion Type Market Share Analysis

6.3.2.2.2.             By Demand Category Market Share Analysis

6.3.3.     Japan Light Commercial Vehicles Axial Flux Motors Market Outlook

6.3.3.1.         Market Size & Forecast

6.3.3.1.1.             By Value & Volume

6.3.3.2.         Market Share & Forecast

6.3.3.2.1.             By Propulsion Type Market Share Analysis

6.3.3.2.2.             By Demand Category Market Share Analysis

6.3.4.     Indonesia Light Commercial Vehicles Axial Flux Motors Market Outlook

6.3.4.1.         Market Size & Forecast

6.3.4.1.1.             By Value & Volume

6.3.4.2.         Market Share & Forecast

6.3.4.2.1.             By Propulsion Type Market Share Analysis

6.3.4.2.2.             By Demand Category Market Share Analysis

6.3.5.     Thailand Light Commercial Vehicles Axial Flux Motors Market Outlook

6.3.5.1.         Market Size & Forecast

6.3.5.1.1.             By Value & Volume

6.3.5.2.         Market Share & Forecast

6.3.5.2.1.             By Propulsion Type Market Share Analysis

6.3.5.2.2.             By Demand Category Market Share Analysis

6.3.6.     South Korea Light Commercial Vehicles Axial Flux Motors Market Outlook

6.3.6.1.         Market Size & Forecast

6.3.6.1.1.             By Value & Volume

6.3.6.2.         Market Share & Forecast

6.3.6.2.1.             By Propulsion Type Market Share Analysis

6.3.6.2.2.             By Demand Category Market Share Analysis

6.3.7.     Australia Light Commercial Vehicles Axial Flux Motors Market Outlook

6.3.7.1.         Market Size & Forecast

6.3.7.1.1.             By Value & Volume

6.3.7.2.         Market Share & Forecast

6.3.7.2.1.             By Propulsion Type Market Share Analysis

6.3.7.2.2.             By Demand Category Market Share Analysis

7.    Europe & CIS Light Commercial Vehicles Axial Flux Motors Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Propulsion Type Market Share Analysis

7.2.2.     By Demand Category Market Share Analysis

7.2.3.     By Country Market Share Analysis

7.2.3.1.         Germany Market Share Analysis

7.2.3.2.         Spain Market Share Analysis

7.2.3.3.         France Market Share Analysis

7.2.3.4.         Russia Market Share Analysis

7.2.3.5.         Italy Market Share Analysis

7.2.3.6.         United Kingdom Market Share Analysis

7.2.3.7.         Belgium Market Share Analysis

7.2.3.8.         Rest of Europe & CIS Market Share Analysis

7.3.  Europe & CIS: Country Analysis

7.3.1.     Germany Light Commercial Vehicles Axial Flux Motors Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value & Volume

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Propulsion Type Market Share Analysis

7.3.1.2.2.             By Demand Category Market Share Analysis

7.3.2.     Spain Light Commercial Vehicles Axial Flux Motors Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value & Volume

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Propulsion Type Market Share Analysis

7.3.2.2.2.             By Demand Category Market Share Analysis

7.3.3.     France Light Commercial Vehicles Axial Flux Motors Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value & Volume

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Propulsion Type Market Share Analysis

7.3.3.2.2.             By Demand Category Market Share Analysis

7.3.4.     Russia Light Commercial Vehicles Axial Flux Motors Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value & Volume

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Propulsion Type Market Share Analysis

7.3.4.2.2.             By Demand Category Market Share Analysis

7.3.5.     Italy Light Commercial Vehicles Axial Flux Motors Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value & Volume

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Propulsion Type Market Share Analysis

7.3.5.2.2.             By Demand Category Market Share Analysis

7.3.6.     United Kingdom Light Commercial Vehicles Axial Flux Motors Market Outlook

7.3.6.1.         Market Size & Forecast

7.3.6.1.1.             By Value & Volume

7.3.6.2.         Market Share & Forecast

7.3.6.2.1.             By Propulsion Type Market Share Analysis

7.3.6.2.2.             By Demand Category Market Share Analysis

7.3.7.     Belgium Light Commercial Vehicles Axial Flux Motors Market Outlook

7.3.7.1.         Market Size & Forecast

7.3.7.1.1.             By Value & Volume

7.3.7.2.         Market Share & Forecast

7.3.7.2.1.             By Propulsion Type Market Share Analysis

7.3.7.2.2.             By Demand Category Market Share Analysis

8.    North America Light Commercial Vehicles Axial Flux Motors Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Propulsion Type Market Share Analysis

8.2.2.     By Demand Category Market Share Analysis

8.2.3.     By Country Market Share Analysis

8.2.3.1.         United States Market Share Analysis

8.2.3.2.         Mexico Market Share Analysis

8.2.3.3.         Canada Market Share Analysis

8.3.  North America: Country Analysis

8.3.1.     United States Light Commercial Vehicles Axial Flux Motors Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value & Volume

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Propulsion Type Market Share Analysis

8.3.1.2.2.             By Demand Category Market Share Analysis

8.3.2.     Mexico Light Commercial Vehicles Axial Flux Motors Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value & Volume

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Propulsion Type Market Share Analysis

8.3.2.2.2.             By Demand Category Market Share Analysis

8.3.3.     Canada Light Commercial Vehicles Axial Flux Motors Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value & Volume

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Propulsion Type Market Share Analysis

8.3.3.2.2.             By Demand Category Market Share Analysis

9.    South America Light Commercial Vehicles Axial Flux Motors Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Propulsion Type Market Share Analysis

9.2.2.     By Demand Category Market Share Analysis

9.2.3.     By Country Market Share Analysis

9.2.3.1.         Brazil Market Share Analysis

9.2.3.2.         Argentina Market Share Analysis

9.2.3.3.         Colombia Market Share Analysis

9.2.3.4.         Rest of South America Market Share Analysis

9.3.  South America: Country Analysis

9.3.1.     Brazil Light Commercial Vehicles Axial Flux Motors Market Outlook

9.3.1.1.         Market Size & Forecast

9.3.1.1.1.             By Value & Volume

9.3.1.2.         Market Share & Forecast

9.3.1.2.1.             By Propulsion Type Market Share Analysis

9.3.1.2.2.             By Demand Category Market Share Analysis

9.3.2.     Colombia Light Commercial Vehicles Axial Flux Motors Market Outlook

9.3.2.1.         Market Size & Forecast

9.3.2.1.1.             By Value & Volume

9.3.2.2.         Market Share & Forecast

9.3.2.2.1.             By Propulsion Type Market Share Analysis

9.3.2.2.2.             By Demand Category Market Share Analysis

9.3.3.     Argentina Light Commercial Vehicles Axial Flux Motors Market Outlook

9.3.3.1.         Market Size & Forecast

9.3.3.1.1.             By Value & Volume

9.3.3.2.         Market Share & Forecast

9.3.3.2.1.             By Propulsion Type Market Share Analysis

9.3.3.2.2.             By Demand Category Market Share Analysis

10.  Middle East & Africa Light Commercial Vehicles Axial Flux Motors Market Outlook

10.1.             Market Size & Forecast

10.1.1.  By Value & Volume  

10.2.             Market Share & Forecast

10.2.1.  By Propulsion Type Market Share Analysis

10.2.2.  By Demand Category Market Share Analysis

10.2.3.  By Country Market Share Analysis

10.2.3.1.      South Africa Market Share Analysis

10.2.3.2.      Turkey Market Share Analysis

10.2.3.3.      Saudi Arabia Market Share Analysis

10.2.3.4.      UAE Market Share Analysis

10.2.3.5.      Rest of Middle East & Africa Market Share Africa

10.3.             Middle East & Africa: Country Analysis

10.3.1.  South Africa Light Commercial Vehicles Axial Flux Motors Market Outlook

10.3.1.1.      Market Size & Forecast

10.3.1.1.1.           By Value & Volume

10.3.1.2.      Market Share & Forecast

10.3.1.2.1.           By Propulsion Type Market Share Analysis

10.3.1.2.2.           By Demand Category Market Share Analysis

10.3.2.  Turkey Light Commercial Vehicles Axial Flux Motors Market Outlook

10.3.2.1.      Market Size & Forecast

10.3.2.1.1.           By Value & Volume

10.3.2.2.      Market Share & Forecast

10.3.2.2.1.           By Propulsion Type Market Share Analysis

10.3.2.2.2.           By Demand Category Market Share Analysis

10.3.3.  Saudi Arabia Light Commercial Vehicles Axial Flux Motors Market Outlook

10.3.3.1.      Market Size & Forecast

10.3.3.1.1.           By Value & Volume

10.3.3.2.      Market Share & Forecast

10.3.3.2.1.           By Propulsion Type Market Share Analysis

10.3.3.2.2.           By Demand Category Market Share Analysis

10.3.4.  UAE Light Commercial Vehicles Axial Flux Motors Market Outlook

10.3.4.1.      Market Size & Forecast

10.3.4.1.1.           By Value & Volume

10.3.4.2.      Market Share & Forecast

10.3.4.2.1.           By Propulsion Type Market Share Analysis

10.3.4.2.2.           By Demand Category Market Share Analysis

11.  SWOT Analysis

11.1.             Strength

11.2.             Weakness

11.3.             Opportunities

11.4.             Threats

12.  Market Dynamics

12.1.             Market Drivers

12.2.             Market Challenges

13.  Market Trends and Developments

14.  Competitive Landscape

14.1.             Company Profiles (Up to 10 Major Companies)

14.1.1.  Magnax BV

14.1.1.1.      Company Details

14.1.1.2.      Key Product Offered

14.1.1.3.      Financials (As Per Availability)

14.1.1.4.      Recent Developments

14.1.1.5.      Key Management Personnel

14.1.2.  YASA Limited

14.1.2.1.      Company Details

14.1.2.2.      Key Product Offered

14.1.2.3.      Financials (As Per Availability)

14.1.2.4.      Recent Developments

14.1.2.5.      Key Management Personnel

14.1.3.  Nidec Corporation

14.1.3.1.      Company Details

14.1.3.2.      Key Product Offered

14.1.3.3.      Financials (As Per Availability)

14.1.3.4.      Recent Developments

14.1.3.5.      Key Management Personnel

14.1.4.  Saietta Group

14.1.4.1.      Company Details

14.1.4.2.      Key Product Offered

14.1.4.3.      Financials (As Per Availability)

14.1.4.4.      Recent Developments

14.1.4.5.      Key Management Personnel

14.1.5.  EMRAX

14.1.5.1.      Company Details

14.1.5.2.      Key Product Offered

14.1.5.3.      Financials (As Per Availability)

14.1.5.4.      Recent Developments

14.1.5.5.      Key Management Personnel

14.1.6.  PML Flightlink Ltd.

14.1.6.1.      Company Details

14.1.6.2.      Key Product Offered

14.1.6.3.      Financials (As Per Availability)

14.1.6.4.      Recent Developments

14.1.6.5.      Key Management Personnel

14.1.7.  Whylot Electromechanical Solutions

14.1.7.1.      Company Details

14.1.7.2.      Key Product Offered

14.1.7.3.      Financials (As Per Availability)

14.1.7.4.      Recent Developments

14.1.7.5.      Key Management Personnel

14.1.8.  Turntide Technologies

14.1.8.1.      Company Details

14.1.8.2.      Key Product Offered

14.1.8.3.      Financials (As Per Availability)

14.1.8.4.      Recent Developments

14.1.8.5.      Key Management Personnel

14.1.9.  Elaphe Propulsion Technologies,

14.1.9.1.      Company Details

14.1.9.2.      Key Product Offered

14.1.9.3.      Financials (As Per Availability)

14.1.9.4.      Recent Developments

14.1.9.5.      Key Management Personnel

14.1.10.                Brusa Elektronik AG

14.1.10.1.    Company Details

14.1.10.2.    Key Product Offered

14.1.10.3.    Financials (As Per Availability)

14.1.10.4.    Recent Developments

14.1.10.5.    Key Management Personnel

15.  Strategic Recommendations

15.1.             Key Focus Areas

15.1.1.  Target Regions

15.1.2.  Target Propulsion Type

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Light Commercial Vehicles Axial Flux Motors Market was estimated to be USD 36 million in 2022.

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Battery Electric Vehicles, Hybrid Electric Vehicles, and Plug-in Hybrid Electric Vehicles are the three propulsion-based sectors that make up the global automotive axial flux motors market. The battery electric vehicles (BEVs) sector accounts for the biggest share of the global market for automotive axial flux motors. BEVs are cars that only use electric power that is stored in batteries, providing zero-emission travel. The demand for BEVs has risen significantly in recent years due to the increased emphasis on sustainability and environmental issues. Due to the acceptance of electric mobility solutions and government programs supporting clean energy transportation, this market segment now holds a monopoly.

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By the end of 2021, Europe held most of the global revenue generated by axial flux motors. The severe measures the government has implemented to encourage the adoption of electric vehicles are the reason for the market's strong expansion in Europe. In March 2020, the UK government reportedly made significant investments in electric scooters and delivery drones as part of the "making journeys easier, smarter and greener" project. The axial flux motor market has great prospects for growth thanks to these global investments. Another element fueling market expansion is the existence of rival companies operating in this sector.

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Advancements in Electric Vehicle Technology, Economic Viability and Total Cost of Ownership, Government Incentives and Policy Support are the major drivers for the Global Light Commercial Vehicles Axial Flux Motors Market.

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Srishti Verma

Business Consultant
Press Release

Light Commercial Vehicles Axial Flux Motors Market to Grow with a CAGR of 5.65% Globally through to 2028

Oct, 2023

Advancements in Electric Vehicle Technology, Economic Viability and Total Cost of Ownership, Government Incentives and Policy Support are factors driving the Global Light Commercial Vehicles Axial Fl

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