Electric Motors for Electric Vehicle Market Share

Market Share of Electric Motors for Electric Vehicle Industry

The Electric motors for electric vehicles market is moderately consolidated due to the presence of many regional and international players. Some significant players include Bosch Mobility Solutions, ABB, Nidec Corporation, Brose Fahrzeugteile GmbH & Co. KG, and Johnson Electric Group. Many of these players are engaging in joint ventures, mergers and acquisitions, new product launches, and capacity expansions to cement their market positions. For instance

• In December 2022, Indian automotive component manufacturer Shriram Pistons Ltd. announced an acquisition majority stake in EMF Innovations, a Singapore-based designer and manufacturer of electric motors for all types of electric vehicles. SPR Engineous, a wholly-owned subsidiary of Shriram Pistons Ltd, would make the transaction. They will enter the EV market with this deal and cater to all EV market segments.
• In October 2022, Bosch Mobility Solutions announced to invest USD 260 million to expand the production of electric vehicle motors for the Rivian R1T pickup truck at its Charleston plant in South Carolina, in the US.

Electric Vehicle Motor Market Leaders

1. Bosch Mobility Solutions

2. ABB Co. Ltd.

3. Nidec Corporation

4. Brose Fahrzeugteile SE & Co. KG

5. Johnson Electric Group

*Disclaimer: Major Players sorted in no particular order