India Electric Vehicle Motor Market Research Report Forecast: (2025-2030)

Market Insights & Analysis: India Electric Vehicle Motor Market (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. The growth of the industry is motivated by rising electric vehicle sales supported by the emergence of environmental concerns, expanding charging infrastructure, reduced running costs, and a burgeoning middle class. The Federation of Automobile Dealers' Association has stated that in 2023, about 82,688 electric vehicles were sold in India, and by 2024, this figure is set to rise by nearly 20 percent to over 100,000 units. And with every such vehicle going with the motor, there will be a need for motors simultaneously.

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Moreover, the Indian government is highly focused on promoting the production and use of electric vehicles. For instance, they introduced the PM E-DRIVE scheme in 2024 that promotes the production of electric vehicle and their components locally so that dependency on imports can be reduced. This can help companies to easily establish their production facility in India. Additionally, the government is also establishing charging points, that can help consumers charge their vehicles in a very short time. Their number has reached around 12,146 as of Feb 2024, with Maharashtra and Delhi having the most stations, and this number is continuously increasing, mainly in the developing states. This inclines various people to invest in electric cars. Also, the government is offering subsidies for the purchase of EVs. Such efforts will further increase the demand for motors that are used to provide power to electric vehicles, hence promising a growing environment for the market in the future.

Furthermore, various EV manufacturers are investing in innovating their vehicles. This is because of the increasing consumer demand for electric vehicles that have longer drive ranges, shorter charging times, low maintenance costs, etc., and that too at lower prices as compared to the present market. As such factors will be featured in electric cars, their sales will increase in the future. This will further increase the demand for robust motors. The rising demand for motors is mainly due to the accelerated demand for electric vehicles bolstered by programs initiated by the government and automotive industry, providing a good thrust to the market during the forecast period.

India Electric Vehicle Motor Market Driver:

Increasing Sale of Electric Vehicles Driving Market Growth – The sale of electric vehicles in India has been continuously increasing. There is growing traction for electric vehicles among the Indian population owing to reducing travel expenses to a bare minimum and being environment-friendly. As per the India Brand Equity Foundation, it was suggested that about 50% of all three-wheeler purchases will become electric in 2024, around 5% for two-wheelers, and nearly 2% for captive cars. They are thronged by electric motors, which use battery-supplied electrical energy for propulsion, across the board for all of these automobiles. Increasing production of such vehicles supports their growing demand with increasing demand for motors. This means there is an impetus for sharp growth in the motor market due to the revival of EV sales, which is also expected to remain alive in the coming forecast period.

India Electric Vehicle Motor Market Challenge:

High Cost of Rare Earth Metals Used to Make Motors – The prices of rare earth metals, such as Neodymium and Dysprosium, are very expensive because of the cost associated with their mining and processing and because they are highly required to manufacture high-performance magnets used in motors. Also, the batteries used by Indian car manufacturers are mostly imported from other countries due to very limited domestic production capabilities and a lack of infrastructure to process raw materials. For instance, the import of Li-ion batteries by India in 2024 was worth around USD2.8 billion, with China and Hong Kong as the major suppliers. As a result, people avoid purchasing such vehicles and are inclined towards traditional ones.

India Electric Vehicle Motor Market Trend:

Integration of IoT in Motors – There is increasing use of the Internet of Things in motors that are employed in Electric vehicles as they provide real-time control of the motor and allow accurate adjustments to increase efficiency, thereby optimizing performance. These motors are equipped with sensors and collect data on vibration, temperature and energy consumption. This data is then transmitted to a base monitoring system for predictive maintenance and reduction of downtime with performance optimization. For instance, the Hyundai Kona Electric and Tata Nexon EV employ IoT-enabled smart motors for performance optimization and increased energy efficiency.

India Electric Vehicle Motor Market (2025-30): Segmentation Analysis

The India Electric Vehicle Motor Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2025–30 at the country level. Based on the analysis, the market has been further classified as follows:

Based on Vehicle Type:

• Electric Passenger Cars
  • Sedan
  • Hatchback
  • SUV
• Electric Commercial Vehicles
  • Electric Light Commercial Vehicles
    • Electric Light Trucks
    • Electric Minivans
  • Electric Medium & Heavy Commercial Vehicles
    • Electric Trucks
    • Electric Buses
• Electric Two Wheelers
  • Electric Scooters
  • Electric Motorcycles
• Electric Three Wheelers

Based on the type of vehicle, electric two-wheelers are the major users of motors, thus holding a market share of around 60%. This is because of the high penetration of such vehicles in India. For instance, around 1.94 million electric vehicles were sold in India in 2024, out of which approximately 1.14 million were electric scooters. These high sales are due to the superior benefits of electric scooters, including lower travel costs and emission-free rides. Additionally, these sales are further boosted by the high traffic in numerous cities of India where two-wheelers can be a fast mode of transportation.

Moreover, to meet this growing demand, there are a lot of companies in the electric scooter industry. For instance, there were around 220 registered companies in 2024, and this number was 180 in the previous year. Therefore, due to multiple benefits at low costs, electric scooters have been the most sold segment, thus responsible for the highest demand for electric motors.

Based on Motor Type:

• Brushless Motors
• Brushed Motors
• Induction (Asynchronous) Motors
• Switched Reluctance Motors
• Synchronous Motors

Based on the type of motor, brushless motors dominate the market with a share of around 48%. The main reason behind this growth is their high utility in electric scooters, which is the leading vehicle segment of this market. As electric two-wheelers in India have to be made with enough power and low prices, brushless motors act as the most favorable choice among companies due to their lower production price and optimum power generation. As a result, their demand has increased in previous years. Additionally, as the name suggests, these motors do not contain brushes, which results in lower maintenance, thus further attracting more consumers. Therefore, brushless motors have been the most favorable segment for the Indian markets in past years, and this dominance is expected to continue in the future as well.

India Electric Vehicle Motor Industry Recent Development:

• 2024: ABB launched a new package, consisting of an AMXE250 motor and HES580 inverter, for electric buses. This inverter is the first 3-level inverter, and the motor features high torque density for improved dynamic performance. Their integration will lead to an increased lifespan of the motor.
• 2024: Nidec Corporation collaborated with Ashok Leyland, a leading commercial vehicle manufacturer in India. This collaboration aimed to provide an electric motor-controller system (“E-Drive”) for commercial vehicles to Ashok Leyland, as vehicle electrification is gaining momentum.

Gain a Competitive Edge with Our India Electric Vehicle Motor Market Report

1. India Electric Vehicle Motor Industry Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & market share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. India Electric Vehicle Motor Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

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