Axial Flux Motor Market is segmented by Application (Electrical Car, Green Car, Freeze Electric powder Generator, Computer Disk ), and by Region (United States, Canada, Mexico, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, Africa and Rest of World)
Axial Flux Motor Market shall reach a value of $2x61.4 Million in 2027, growing with a CAGR of 12.13% during the forecast period of 2020 to 2027.
Axial Flux Motor Market Research Report Scope/Definition
For the purpose of this market research report, an axial-flux motor is defined as a machine where the magnetic flux direction is axial to the machine rotation axis, hence considered an alternative to radial-flux machines. The axial flux motor is good in limited space and high torque density applications. Both the high speed and the influence of torque density are integral to the axial flux motor power density. High speed will only cause a short service time and lesser noise. The reason for high-speed in the motor is due to improved torque density in the axial flux motor. The axial flux motor offers advantages such as; it has a compact structure, mostly short axial sizes, has a small volume, low weight, high torque density, high power density, small end-winding, and has an excellent cooling performance. The market for axial flux motors has gained a considerable amount of attention globally, due to customer preferences as well innovative capabilities in providing high-density power in a lighter and smaller package. The axial-flux design produces machines that are less heavy and wide also, more compact and yielding greater efficiency.
Axial Flux Motor Market Growth and Trends
The axial flux motor market is growing significantly across the world during the past few years. This market is anticipated to reach $355 billion by the end of 2026. The ongoing technological advancements and a push towards electrification in recent years have increased the application of axial flux motors in several new sectors including electric bikes, delivery trucks, airport pods, electric automobiles, and even airplanes. The first motor invented in the entire globe was the axial flux type. Thus, it becomes hard to believe that these motors found their huge application in the last two decades. Firstly, it was used widely for storage purposes in the agriculture sector and elevators. Further, the axial flux motor market is anticipated to generate significant revenue during the forecast period owing to its high efficiency as compared to radial motors. The short length of this motor provides nice torque over speed compared to a radial motor. Also, its compact size and lightweight minimize the weight of vehicles when used in the automobile industry. Additionally, the increasing demand for automation and highly advanced technology across various sectors create ample opportunities for the growth of the axial flux motor market. The automobile sector is dominating the other sectors in generating significant axial flux motor market revenue. The surging demand for automatic controls in this sector is creating a high demand for highly 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. The axial flux motor market finds its significant application in the commercial and industrial sector owing to the increasing use of axial flux motors in utility vehicles and surging demand for electric cars across the world. However, the factors such as high production cost as well as an increase in upsprung bulk are anticipated to block commercial applications of this market. 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, the restrictions such as Minimum Energy Performance Standards (MEPS) propels 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 axial motor over the coming years.
Axial Flux Motor Market Segmentation
The axial flux motor uses two major processes that are liquid cooling and air cooling for cooling purposes. These motors are available in different variants based on power such as 1kW-15kW, 15kW-80kW, 80kW-160kW, above 160kW. Further, the axial flux motor market finds its major application in commercial Vehicles, electric drones, passenger vehicles, utility vehicles, HVAC, and others. The electric passenger segment is expected to grow at a CAGR of 12.7% in near future. This growth is attributed to the increasing investment in eco-friendly vehicles by the government to control pollution levels caused by conventional vehicles and an increasing number of consumers adopting electric vehicles. Various restrictions and policies were being implemented by the government across the world to control the pollution levels. For instance, the Delhi government passed a policy in December 2019 aiming to increase the number of electric vehicles by 25% as a result of which the sale of electric cars surpassed 2 million units globally. Further, increasing investment by transportation companies in the electric vehicles market will create ample growth opportunities for the axial flux motor market during the forecast period 2022-2032. For example, in December 2020, OLA invested $320 million in electric scooters. Lime, an American transportation company-funded Uber Technologies & acquired a large number of electric bikes and scooters. The shares generated by the automotive axial flux market dominated over the other end-user industries such as commercial, industrial, aerospace, and others. This segment is anticipated to witness the fastest growth at a CAGR of 13% from 2022 to 2032. Moreover, with the advent of hybrid vehicles, the demand for axial flux motors will experience a heavy increase owing to short length.
Axial Flux Motor Market Regional Analysis
Based on geography, Europe dominated the axial flux motor market with a share of 37% of the overall axial flux motor market revenue by the end of 2021. The significant growth of this market in Europe is due to the strict initiatives taken by the government for the adoption of electric vehicles. According to reports, the UK government invested heavily in delivery drones and electric scooters in March 2020 under the "making journeys easier, smarter and greener" project. Such investments across the world create tremendous growth opportunities for the axial flux motor market. The presence of competitive companies investing in this market is yet another factor driving the market growth. For instance, approximately $162 million were raised by a Swedish e-scooter company for expanding the market across Europe. Further, the North American region is anticipated to witness a significant amount of growth during the forecast period. This region generated 33% of the total market revenue in 2020 which makes it the second-largest market shareholder. Apart from that, the growing automotive industry in the Asia-Pacific region has supported the axial flux market growth significantly in the past few years. As per a report of Invest India, the Indian government is aiming to grow electric vehicles across the country by 30% by the end of 2030.
Robotics Industry is anticipated to fuel up the axis flux market significantly by the end of 2026.
The axial flux motor market has its application advantages in compressors, pumps, blowers, robots, and others owing to its compact structure. The battery backup of axial flux motors is long-lasting which makes it highly affordable. Thus, the use of axial flux motor cuts down heavy 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 die 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. The wheel motor manufacturers and other component manufacturers use these motors to make their products more compact and performance efficient. Moreover, these motors provide 30% to 40% more cooling than other conventional motors which is again an advantage for the growth of the market. However, COVID-19 affected the small component manufacturers negatively which in turn gave a major setback to the axial flux motor market. It is witnessed that this market managed to recover from that phase by the end of 2020 by increasing its global deliveries by 43%. In China, actual flux motor market sales increased with a rate of 80% in the second half of 2020. However, the market sales decreased drastically in the countries such as Australia, Japan, and Canada. Thus, COVID-19 has changed the trends of the axial flux motor market across the world dynamically. Moreover, the increasing demand for low emission vehicles and strict rules enforced by the government has compelled the manufacturers of axial flux motors across the world to integrate with the electric vehicle market for supplying its parts and components which in turn will give a major rise to the axial flux motor market revenue. Other than that, axial flux motor manufacturers are testing several new advancements in these motors to increase the productivity of electric vehicles due to the policy support. Further, sudden climate changes due to the burning of fossil fuel is another major factor driving the market growth. The axial flux motor market is being primarily driven by the countries such as the Nordic, UK, and Germany owing to the strict law enforcement by the government. Europe, being a major hub for wheel motor manufacturers is supporting the axial motor market growth significantly. Subsequently, Hyundai motors invested in axial flux motors significantly by launching its electric buses produced by "Elec City" in February 2020. Further, this market grew significantly in March 2021 owing to the increase in awareness about these new launches among consumers.
Technical challenges faced by axial flux motor manufacturers may hamper the market growth.
One of the major factors hampering the axial flux motor market growth is its highly technical production process. In the production process, maintenance of uniform air gap between two components faces difficulties owing to the high magnetic forces required between the rotor and the stator. Many axial flux motors manufacturers face this technical challenge which in turn is anticipated to hinder the overall revenue of the market. Apart from that, the manufacturing process faces some thermal issues owing to the perfect placement of findings. The windings are placed deep inside the stator between the two rotor discs for which the cooling issues are created when the motor works. However, radial-axial flux motors have resolved this difficulty to a great extent. Still, manufacturers are highly focused to overcome these issues completely in the coming years. The market is also facing design issues in manufacturing axial flux motors as its stator iron design is similar to that of radial flux motors stator design. Search manufacturing challenges are imposing restrictions for the eggs in flux market to grow in the coming years. However, the continuously ongoing advancement and modernization in the technology used will help the companies to generate significant axial flux motor market revenue during 2022–2032. Many emerging companies are interested in investing in the axial flux motor market significantly. One such company is evTOl.com, which is a UK-based company investing tremendously in the market having advanced aerospace mobility as the key target for the future. This company is integrating with electric automobiles and aerospace companies to provide them with high-performance and low-weight products including advanced actual flux motors. According to this company, axial flux technology offers several advantages over radial motor technology. The large-scale production of axial flux motors for aerospace and automobile industries has increased the growth of the market. For instance, the demand for tons of thousands of motors has been registered per year from the aerospace sector. However, owing to this huge demand for motors from well-established developers, small developers may face some challenges in manufacturing such a large amount of product at an early stage. Moreover, the increasing competition of the sale production among various axial flux motor market companies is anticipated to generate significant revenue for the axial flux market during the forecast period.
Axial Flux Motor Market Share and Competition
Key companies operating in this industry are Protean Electric, Elaphe, AVID Technology, YASA Limited, Lynch motors, Renault group, Agni Motors, ZIEHL-ABEGG, Printed Motor Works, NTN, and OEMs. The industry players always seek innovative technologies and strategies that can transform the axial flux motor market growth trend across the world. For example, Saietta Group signed a partnership with Padmini VNA in 2021 to expand its product sales and expand the market across India. Owing to the high acquisition and partnerships, Saietta Group got a major grant from Advanced Propulsion Center which contributed significantly to propel the axial flux motor market growth. Apart from that, the top companies such as Agni motors and Lynch motors focused greatly on new product launches having high efficiency. Further, Reynolds group, a France-based company generated 21% of the overall market revenue in 2021. This company partnered with Whylot to expand its industry on a large scale.
Axial Flux Motor Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2032)
• Data breakdown for every market segment (2022 – 2032)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Cooling Process Analysis (Revenue, USD Million, 2022 - 2032)
• Air Cooling
• Liquid Cooling
Power Analysis (Revenue, USD Million, 2022 - 2032)
• Above 160kW
Application Analysis (Revenue, USD Million, 2022 - 2032)
• Utility vehicles
• Electric Passenger vehicles (passenger cars, motor bikes and others)
• Electric drones
End-User Analysis (Revenue, USD Million, 2022 - 2032)
Region Analysis (Revenue, USD Million, 2022 - 2032)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Axial Flux Motor Industry Companies
• Protean Electric
• YASA Limited
• Printed Motor Works
• NTN and OEMs
• AVID Technology
• Lynch motors
• Renault group
• Agni Motors
Available Versions of Axial Flux Motor Market: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report
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