The global axial flux motor market is projected to reach USD 871.50 million by 2031, at a CAGR of 10.7%, from USD 346.84 million in 2022. The axial flux motor market is expected to continue to grow in the coming years due to the electric vehicle (EV) revolution and renewable energy integration.
With potential improvements in power and efficiency, the axial flux motor industry emerged as a novel alternative to traditional radial flux motors. Because of its design, which is distinguished by a special arrangement of concentric rotor and stator discs, a shorter flux route is made possible, which lowers energy losses and improves performance.
This innovative technology became popular across a number of industries, but it was most popular in the fields of renewable energy and electric vehicles (EVs). With its high power density, excellent cooling capabilities, and small size, it is a very attractive option for EV producers looking to improve efficiency and range.
Furthermore, axial flux motors provide greater torque in a smaller package for industrial and wind turbine applications, allowing for more effective and space-saving solutions. Adoption of the product increased gradually but steadily as a result of rising consumer demand for sustainable energy and environmentally friendly mobility. The axial flux motor market continues to play a significant role in determining the direction of electromechanical technologies as the search for more effective and compact electric propulsion systems continues.
In July 2023 The V0.1 model utilizes the FLUX350 Axial Flux Motor Platform developed by the company. These motors are well-known for their lightweight design and compact size.
In June 2022, Saietta, a provider of e-mobility propulsion solutions, has broadened its offerings for the light-duty electric vehicle (EV) segment. The Axial Flux Technology (AFT) electric motor series has undergone improvements and expansion, now featuring integrated power electronics, a modular gearbox, and a customized axle architecture. This comprehensive upgrade delivers a fully integrated e-mobility system solution for the light-duty EV sector.
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Segment Analysis and Market Dynamics
Based on cooling process, the global axial flux motor market is divided into air cooling, liquid cooling. The air cooling category dominates the market with the largest revenue share. Air cooling involves the circulation of air around the motor components to dissipate heat. This method utilizes fans or natural convection to remove excess heat generated during operation. In axial flux motors, air cooling typically involves strategically placed fins or cooling channels on the motor casing or stator/rotor assembly to facilitate heat dissipation.
While cost-effective and relatively simple to implement, air cooling may have limitations in managing high heat loads efficiently, especially in applications where space is constrained or ambient temperatures are already high. Liquid cooling employs a closed-loop system where a coolant (such as water or specialized liquids) circulates through channels or jackets integrated into the motor structure. This method efficiently absorbs heat from the motor components and transfers it away. Liquid cooling offers better thermal conductivity compared to air, allowing for more effective heat dissipation. It’s particularly advantageous in applications demanding higher power densities or operating in extreme conditions. The electric passenger vehicles segment is the largest segment of the axial flux motor market, based on application.
Axial flux motors are increasingly used in electric cars due to their compact size, high power density, and efficiency. They help enhance the driving range and overall performance of electric vehicles while fitting well within the space constraints of modern car designs. Similar to electric passenger vehicles, commercial vehicles such as buses and trucks benefit from the efficiency and power density of axial flux motors. They support the transition toward cleaner transportation in the commercial sector, aiding in reducing emissions and operational costs.
The growing electric vehicle (EV) market is one of the main forces behind the need for small, highly efficient motors in order to improve performance and increase driving range. Further propelling market expansion are investments in renewable energy, where axial flux motors are used in wind turbines and other green energy systems, as a result of the global push towards sustainability. The dynamics of competition are crucial, as both well-established firms and up-and-coming ventures step up their R&D initiatives to boost manufacturing scalability, save expenses, and improve motor efficiency.
A mix of more recent entrants bringing disruptive technologies and long-standing giants optimizing their products characterize the market, encouraging innovation and competitiveness. Changes in regulations and government incentives to lessen carbon footprints have also had a big effect on the market. Market expansion is fueled by incentives that encourage the use of renewable energy sources and electric vehicles, which also provide a favorable environment for producers and consumers. Furthermore, the market dynamics have been periodically impacted by supply chain disruptions, material shortages, and price variations for raw materials. As a result, businesses have been forced to find flexible and resilient ways to manage uncertainty and stay competitive in the market. All things considered, the axial flux motor industry is still dynamic and is influenced by market forces, regulatory changes, and technological advancements.
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Regional Analysis
The axial flux motor market in Europe is expected to lead globally. Electric mobility and renewable energy solutions have seen major investments due to the region’s dedication to environmental sustainability and strict emission laws. Axial flux motors are renowned for their high efficiency and small design, which makes them great for electric vehicles and a variety of renewable energy applications. This proactive approach is well aligned with the benefits these motors offer. The demand for advanced electric motors like the axial flux type is being driven by European manufacturers moving more and more toward electric propulsion systems in an effort to meet strict emission rules.
Moreover, motor design and production technique innovation is supported by Europe’s strong R&D infrastructure, which coexists with a dynamic ecosystem of technological startups and leading manufacturers. Axially flux motors can be widely adopted because of policies that support clean energy and sustainable transportation, as well as government subsidies and incentives. Industry, academia, and government agencies work together in the region to create an environment that is favorable to technological developments and market penetration. Consequently, Europe leads the world in axial flux motor sales, using its creative energy, legislative backing, and environmental awareness to drive the use of these cutting-edge electric drive systems in a variety of sectors.
The report “Axial Flux Motor Market Size, Share & Trends Analysis Report by Cooling Process (Air Cooling, Liquid Cooling), by Application (Electric Passenger Vehicles, Commercial Vehicles, Industrial Machinery, Elevators, Robotics Actuators, Yachts & Electric Boats, Electric Drones, Others), by End-User (General Manufacturing, Power, Construction, Automotive, Aerospace, Marine, Agriculture, Others), and by Region (North America, Europe, APAC, MEA, and CSA), and Segment Forecasts, 2023 – 2031” is available now to Econ Market Research customers and can also be purchased directly from: https://www.econmarketresearch.com/
Further key findings from the report suggest:
- The global axial flux motor market is predicted to register a compound annual growth rate (CAGR) of 10.7% over the projected period of 2023-2031.
- Europe will be the leading region of the global axial flux motor market during the forecast period of 2023-2031.
- The major key players in the global axial flux motor market are: AVID Technology Group Ltd., EMRAX MOTORS, YASA, Lynch Motor Company, Magnax, Nidec Minster Corporation, Agni Motors, Saietta Electric Drive, ASHWOODS ELECTRIC MOTORS LIMITED.
Read More Information about Axial Flux Motor Market: https://www.econmarketresearch.com/industry-report/axial-flux-motor-market/
Econ Market Research has segmented the global axial flux motor market based on cooling process, application, end-user, and region:
Axial Flux Motor Market by Cooling Process (Revenue, USD Billion, 2023-2031)
- Air Cooling
- Liquid Cooling
Axial Flux Motor Market by Application (Revenue, USD Billion, 2023-2031)
- Electric Passenger Vehicles
- Commercial Vehicles
- Industrial Machinery
- Elevators
- Robotics Actuators
- Yachts & Electric Boats
- Electric Drones
- Others
Axial Flux Motor Market by End-User (Revenue, USD Billion, 2023-2031)
- General Manufacturing
- Power
- Construction
- Automotive
- Aerospace
- Marine
- Agriculture
- Others
Axial Flux Motor Market Regional Analysis (Revenue, USD Billion, 2023-2031)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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