Press Release

India Electric Vehicle Motor Market to Surge at a CAGR of Around 21.5% During 2025-30

The India Electric Vehicle Motor Market size was valued at around USD 0.898 billion in 2024 and is projected to reach USD 2.889 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 21.5% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. The main reason behind this growth is the growing popularity of battery-powered vehicles in India, which can be observed from their high sales. For instance, more than 1,00,000 electric-powered vehicles were sold in India in 2024, which is around 20% more than the previous years. This is due to the cost-efficient and sustainable transit of such vehicles. As these vehicle uses motors for their motion, they have pushed the EV motor market towards growth.

Moreover, the market is also fueled by the governmental norms that are launched to promote the use of battery-powered vehicles among Indians and ensure a sustainable environment by reducing the discharge of toxic components into the environment. This includes the PM E-DRIVE scheme of 2024, which was launched to promote the adoption of electric vehicles, financial benefits that are offered on the purchase of such vehicles, increasing the establishment of charging stations, etc. Such efforts will further increase the sales of EVs and hence motors that are used to provide power to such cars, hence promising a growing environment for the market in the coming years.

Furthermore, some manufacturers of electric motors are focusing on reducing their environmental impact by reducing the use of precious metals in their products that are not only difficult to extract but also hurt nature. This is achieved by the reuse of such elements or innovative motors that do not use such elements. Such efforts will also assist EV companies in reducing their vehicle prices, thus attracting more consumers, which will further increase the demand for motors. Therefore, the high sales have led to high demand for motors in past years, and this trend is fueled by continuous efforts from the government and the automotive industry, thus promising a growing environment for the market in the coming years, further states the research report, “India Electric Vehicle Motor Market Analysis, 2025.”

Segmentation Analysis

Electric Two-Wheelers Hold a Major Market Share

Based on the type of vehicle, the market is further bifurcated into Electric Passenger Cars, Electric Commercial Vehicles, Electric two-wheelers, and Electric three-wheelers. Electric two-wheelers are the major users of motors, with a market share of around 60%, and this dominance is mainly attributed to their high sales in India. For instance, around 58.76% of the total EVs sold were two-wheelers. These high sales are due to the multiple advantages of electric scooters, including lower running costs, zero carbon discharge, ease of movement through traffic areas, etc. Therefore, due to superior benefits at low costs, electric scooters have been the most sold segment, thus responsible for the highest demand for electric motors.

Brushless Motors Serving a Wide Range of End-Users

Brushless is the most used type of motor, with a market share of around 48%. This is because a huge proportion of motors are used in two-wheelers, and this segment has a high demand for batteries that have enough power and are cheaper in terms of price and maintenance. To address this demand, brushless motors are considered the most favorable choice among companies due to their lower production price and optimum power generation. Hence, as such motors are common in the most prominent vehicle segment, i.e., two-wheelers, they lead the market.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including ABB, Tata Motors, Kirloskar Electric, Nidec Corporation, Bharat Heavy Electricals Limited (BHEL), Bonfiglioli, Laxmi Hydraulics Pvt. Ltd., Robert Bosch GmbH, CG Power & Industrial Solution Ltd., Weg Industries India, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the country?
6. How have buying behavior, customer inclination, and expectations from products been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?