Medium & Heavy 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 30 million

CAGR (2023-2028)

5.82%

Fastest Growing Segment

HEV

Largest Market

Europe


Market Overview

Global Medium & Heavy Commercial Vehicles Axial Flux Motors Market has valued at USD 30 million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 5.82% through 2028. The global medium and heavy commercial vehicle axial flux motors market is undergoing a transformative shift as the automotive industry increasingly embraces electric propulsion systems. These motors are at the forefront of this evolution, playing a pivotal role in the electrification of commercial vehicles. With a heightened focus on sustainability, reduced emissions, and improved operational efficiency, the demand for axial flux motors in this segment is on a steady rise. One of the key drivers of this market's growth is the increasing adoption of electric commercial vehicles (eCVs) worldwide. Governments and regulatory bodies are implementing stringent emissions norms, prompting fleet operators and manufacturers to transition to electric powertrains. Axial flux motors offer several advantages in this context, including high torque density, compact size, and enhanced thermal performance, making them an ideal choice for eCVs. Additionally, the ongoing advancements in battery technology are complementing the demand for axial flux motors. As battery energy density improves and charging infrastructure expands, electric commercial vehicles are becoming more viable for long-haul and heavy-duty applications. Axial flux motors are integral to maximizing the efficiency of these vehicles, ensuring they can meet the demanding requirements of the commercial sector.

Key Market Drivers

Environmental Regulations and Emissions Reduction Targets

One of the most significant drivers propelling the global M&HCV axial flux motors market is the increasingly stringent environmental regulations and emissions reduction targets set by governments worldwide. As concerns about climate change and air quality continue to mount, there is a growing imperative to reduce the carbon footprint of commercial transportation. Governments are imposing strict emissions standards on M&HCVs, mandating reductions in greenhouse gas emissions and other pollutants. Axial flux motors are central to addressing these regulatory challenges. By enabling the electrification of M&HCVs, they offer a clean and efficient alternative to traditional internal combustion engine (ICE) vehicles. Electric M&HCVs equipped with axial flux motors produce zero tailpipe emissions, helping fleet operators and businesses comply with emissions reduction targets. The adoption of electric M&HCVs is further incentivized by government programs, subsidies, and policies designed to accelerate the transition to sustainable transportation. In this context, axial flux motors are a critical enabler for M&HCV manufacturers and fleet operators to meet regulatory requirements while maintaining the performance and reliability necessary for commercial applications. As emissions standards continue to tighten, the demand for electric M&HCVs powered by axial flux motors is expected to grow substantially.

Advancements in Battery Technology

Advancements in battery technology represent a pivotal driver for the global M&HCV axial flux motors market. As the energy storage component of electric vehicles (EVs), batteries play a critical role in determining the range, performance, and practicality of electric M&HCVs. Over the years, significant progress has been made in battery technology, including improvements in energy density, cycle life, and charging capabilities. High-energy-density batteries enable electric M&HCVs to cover longer distances on a single charge, addressing one of the primary concerns in the adoption of electric commercial vehicles. Improved cycle life ensures the longevity and durability of batteries, reducing replacement and maintenance costs. Fast-charging capabilities enhance the practicality of electric M&HCVs by minimizing downtime during charging stops. These advancements in battery technology not only extend the range and usability of electric M&HCVs but also enhance their overall efficiency. Axial flux motors, known for their high efficiency and power density, benefit significantly from the availability of advanced batteries. Together, these technologies work in synergy to provide electric M&HCVs with the power and range necessary to meet the demands of diverse commercial applications.  Furthermore, ongoing research and development in battery chemistry, solid-state batteries, and alternative energy storage solutions continue to drive innovation in the industry, promising even more substantial improvements in the future.

Charging Infrastructure Expansion

The expansion of charging infrastructure is a critical driver for the global M&HCV axial flux motors market. Access to a robust and efficient charging network is essential to support the widespread adoption of electric M&HCVs. Unlike light-duty vehicles, M&HCVs often require specialized charging equipment due to their larger battery capacities and energy needs. To cater to the unique requirements of electric M&HCVs, charging infrastructure must encompass a comprehensive network of high-power charging stations strategically located along major transportation routes, highways, and logistical hubs. The development of such infrastructure ensures that electric M&HCVs can operate seamlessly, covering long distances without excessive downtime. Governments, in partnership with private entities, are investing heavily in the expansion of charging infrastructure to create a conducive environment for the electrification of commercial fleets. Public-private collaborations, incentives for charging station deployment, and supportive regulatory frameworks are driving the expansion of charging networks, making it increasingly convenient for M&HCV operators to adopt electric propulsion. As charging infrastructure continues to grow and evolve, it reduces the barriers associated with electric M&HCV adoption, making these vehicles more attractive to fleet operators and businesses.

Total Cost of Ownership (TCO) Considerations

Total Cost of Ownership (TCO) considerations play a central role in driving the adoption of electric M&HCVs equipped with axial flux motors. Fleet operators and businesses are increasingly evaluating TCO when making procurement decisions. While the upfront cost of electric M&HCVs may be higher than that of their diesel or gasoline counterparts, the long-term savings associated with electric propulsion can be substantial. Electric M&HCVs benefit from lower operating costs, including reduced fuel expenses and maintenance requirements. Electric motors, such as axial flux motors, offer high efficiency, reliability, and reduced wear and tear compared to ICEs. Additionally, energy costs for electric vehicles are typically lower than the cost of diesel or gasoline. TCO considerations take into account factors such as fuel or electricity costs, maintenance and repair expenses, resale value, and any applicable incentives or subsidies. As the industry continues to gather data on the real-world TCO of electric M&HCVs, businesses are becoming increasingly aware of the potential cost savings associated with these vehicles. Axial flux motors, with their high efficiency and power density, contribute significantly to reducing operating costs, making electric M&HCVs an economically viable choice for businesses aiming to optimize their fleets.

Technological Advancements in Axial Flux Motors

Technological advancements in axial flux motors themselves are a driving force in the global M&HCV axial flux motors market. These motors continue to undergo research and development, leading to improvements in efficiency, power density, and reliability. High-efficiency axial flux motors help extend the range of electric M&HCVs by minimizing energy losses during operation. Moreover, they provide the torque and power required for heavy-duty applications, making them well-suited for M&HCVs. Advancements in motor materials and manufacturing processes contribute to enhanced durability and reduced maintenance requirements. Additionally, integration of advanced control systems and sensors optimizes motor operation, ensuring precise torque delivery and energy efficiency. Features such as regenerative braking and energy recovery systems are increasingly incorporated into axial flux motors, further improving energy efficiency and reducing operating costs for M&HCVs. These technological advancements not only enhance the competitiveness of axial flux motors but also contribute to the overall performance and efficiency of electric M&HCVs. As the industry continues to innovate, electric M&HCVs with axial flux motors are positioned to offer a compelling alternative to traditional diesel-powered vehicles.

 

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Key Market Challenges

Cost Constraints and Economic Viability

One of the foremost challenges confronting the global M&HCV axial flux motors market is cost constraints and the economic viability of adopting this technology. While axial flux motors offer numerous advantages, including enhanced efficiency and power density, they tend to have higher manufacturing costs compared to conventional radial flux motors. The sheer size and power requirements of M&HCVs necessitate larger, more powerful motors, which can further escalate manufacturing expenses. This cost challenge becomes a significant barrier for commercial fleet operators and manufacturers looking to transition their M&HCV fleets to electric propulsion. The initial purchase price of electric M&HCVs, which includes the cost of axial flux motors, battery packs, and related components, is often higher than that of their diesel or gasoline counterparts. This poses a financial challenge, as businesses seek to balance upfront investment costs with long-term operational savings. The economic viability of electric M&HCVs equipped with axial flux motors depends on achieving competitive pricing and ensuring that the total cost of ownership (TCO) over the vehicle's lifecycle remains attractive. Strategies such as economies of scale, material cost reduction, and advances in manufacturing techniques will be crucial in overcoming these cost constraints.

Energy Density and Range Limitations

Energy density limitations of current battery technology directly impact the range and practicality of electric M&HCVs equipped with axial flux motors. While axial flux motors excel in efficiency and power delivery, their utility is tied to the energy storage capacity of onboard batteries. M&HCVs, designed for long-distance travel and heavy payloads, require extended ranges to meet operational demands. Addressing range limitations while maintaining affordability remains a substantial challenge. Commercial vehicles often operate over significant distances and must handle a wide range of applications, from long-haul transportation to regional deliveries and vocational tasks. To make electric M&HCVs with axial flux motors a viable choice for businesses, significant advancements in battery technology are necessary to increase energy density and deliver extended driving ranges. Additionally, the development of charging infrastructure that supports M&HCVs and allows for quick charging during breaks or layovers is critical to alleviating range anxiety and ensuring the practicality of electric M&HCVs in various applications.

Charging Infrastructure Development and Accessibility

The availability and accessibility of a robust charging infrastructure are paramount challenges for the global M&HCV axial flux motors market. Unlike light-duty vehicles, M&HCVs have unique charging requirements due to their larger battery capacities and energy needs. The absence of an extensive and efficient charging network can severely impede the adoption of electric M&HCVs. Electric M&HCVs often operate over long distances and across diverse geographic regions, necessitating a comprehensive network of charging stations to support their operations. Developing fast-charging infrastructure along major transportation routes, highways, and logistical hubs is vital to minimize downtime for M&HCV fleets during charging stops. Governments, in collaboration with private entities, must invest in charging infrastructure development to facilitate the electrification of M&HCV fleets effectively. Furthermore, ensuring compatibility with various charging standards and technologies is essential to maximize accessibility and convenience for commercial vehicle operators.

Integration Complexity and Compatibility

Integrating axial flux motors into M&HCVs and ensuring compatibility with other vehicle components and systems presents another set of complex challenges. M&HCVs often feature sophisticated powertrain configurations, transmission systems, and auxiliary components designed to handle heavy loads and long-distance travel. Integrating axial flux motors into these existing systems while maintaining optimal efficiency, performance, and reliability is technically demanding.

Compatibility issues can arise when retrofitting conventional M&HCVs with electric powertrains, as these vehicles were not originally designed for electric propulsion. Achieving seamless integration is crucial to ensuring that electric M&HCVs with axial flux motors deliver the expected power and torque required for commercial applications. Collaboration between motor manufacturers and M&HCV OEMs is essential to address integration complexities. Coordination and customization are necessary to adapt the electric powertrain to the specific needs of different M&HCV applications, whether for long-haul trucking, delivery, construction, or specialty vehicles.

Market Acceptance and Industry Adoption

Market acceptance and industry-wide adoption of electric M&HCVs with axial flux motors represent a multifaceted challenge. Unlike the passenger vehicle sector, where electric vehicle (EV) adoption has gained substantial traction, the M&HCV industry has unique considerations and requires broader acceptance. Commercial fleet operators and businesses must be convinced of the economic and operational benefits of electric M&HCVs equipped with axial flux motors. Demonstrating cost savings over the vehicle's lifetime, reduced operational expenses, and compliance with environmental regulations are critical factors in gaining market acceptance. Additionally, government incentives, financial support, and regulatory frameworks that favor electric M&HCVs will play a significant role in promoting industry adoption. Providing incentives for fleet electrification, implementing emission reduction targets, and creating favorable policies will be instrumental in encouraging businesses to make the transition.

Key Market Trends

Electrification Drive

One of the most prominent trends in the medium and heavy commercial vehicle (MHCV) sector is the rapid shift towards electrification. Governments around the world are implementing stricter emissions regulations, leading MHCV manufacturers to explore electric vehicle (EV) options. Axial flux motors, known for their efficiency and power density, are gaining popularity as a key component in electric propulsion systems for MHCVs. Governments are offering incentives and subsidies to promote electric MHCV adoption. Axial flux motors are preferred for their compact design, which suits the space constraints of MHCVs. Major players like Tesla, Volvo, and Daimler are investing heavily in electric MHCVs powered by axial flux motors.

Lightweighting and Efficiency

The MHCV industry is continually seeking ways to reduce weight and improve fuel efficiency. Axial flux motors contribute to this trend due to their lightweight construction and high-efficiency characteristics. Integrating these motors allows manufacturers to design more efficient and eco-friendly vehicles while meeting regulatory requirements. Axial flux motors are often lighter than traditional motors, helping to reduce the overall vehicle weight. Enhanced efficiency translates to longer driving ranges for electric MHCVs. Lightweighting and efficiency improvements are critical for meeting emission targets and lowering operational costs.

Autonomous Driving Integration

Autonomous driving technology is making significant strides in the MHCV sector, and axial flux motors play a crucial role in this development. As self-driving commercial vehicles become more mainstream, the demand for reliable and high-performance motors capable of supporting autonomous systems is rising. Axial flux motors offer precise control, making them ideal for autonomous vehicles. These motors can quickly adjust power delivery to respond to changing road conditions or traffic scenarios. Autonomous MHCVs are expected to enhance safety, reduce labor costs, and optimize logistics.

Energy Storage and Battery Advancements

The success of electric MHCVs heavily depends on energy storage solutions, and batteries are at the forefront of this discussion. The market trend involves not only the adoption of high-capacity batteries but also improvements in battery technology. Axial flux motors are closely associated with this trend, as they contribute to overall system efficiency. Axial flux motors complement advanced battery technology by efficiently converting stored energy into motion. Companies are developing fast-charging systems to reduce downtime for electric MHCVs. Research is ongoing to increase the energy density of batteries, enabling longer driving ranges.

Global Supply Chain Diversification

The MHCV industry has historically relied on complex global supply chains, which were disrupted by various events, such as the COVID-19 pandemic. To mitigate these risks, companies are diversifying their supply chains and seeking localized production solutions. This trend can affect the sourcing of axial flux motors and their components. Manufacturers are exploring regional suppliers to reduce dependence on a single source. Diversification helps minimize supply chain disruptions and increases resilience. It may lead to variations in the availability and pricing of axial flux motors in different regions.

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 Medium & Heavy 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:

  • Medium & Heavy Commercial Vehicles Axial Flux Motors Market, By Propulsion Type:

o   BEV

o   HEV

o   PHEV

  • Medium & Heavy Commercial Vehicles Axial Flux Motors Market, By Demand Category:

o   OEM

o   Aftermarket

  • Medium & Heavy 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 Medium & Heavy Commercial Vehicles Axial Flux Motors Market.

Available Customizations:

Global Medium & Heavy 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).
Global Medium & Heavy Commercial Vehicles Axial Flux Motors Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]   

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 Medium & Heavy Commercial Vehicles Axial Flux Motors Market

5.    Global Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy 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 Medium & Heavy Commercial Vehicles Axial Flux Motors Market was estimated to be USD 30 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 Battery Technology, Charging Infrastructure Expansion, Technological Advancements in Axial Flux Motors are the major drivers for the Global Medium & Heavy Commercial Vehicles Axial Flux Motors Market.

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Srishti Verma

Business Consultant
Press Release

Medium & Heavy Commercial Vehicles Axial Flux Motors Market to Grow with a CAGR of 5.82% Globally through to 2028.

Oct, 2023

Advancements in Battery Technology, Charging Infrastructure Expansion, Technological Advancements in Axial Flux Motors are factors driving the Global Medium & Heavy Commercial Vehicles Axial Flux Mot

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