The electric vehicle (EV) motor market was valued at approximately $22.1 billion in 2025. Forecasts indicate the market will expand at a compound annual growth rate (CAGR) of 16.0% between 2026 and 2036, reaching an estimated $120 billion by 2036. This growth is driven by ongoing advancements in EV technology and increasing regulatory emphasis on reducing vehicle emissions.
Key factors contributing to market expansion include improvements in motor efficiency, battery performance, and the adoption of stricter emission standards worldwide. These developments are encouraging automakers to accelerate the production and adoption of electric vehicles, thereby increasing the demand for EV motors.
**Why this matters**
The growth of the EV motor market reflects a broader shift toward sustainable transportation solutions. As governments implement tighter emission regulations and consumers seek cleaner alternatives to traditional vehicles, the demand for electric motors is expected to rise significantly. This trend has implications for the automotive industry, energy consumption patterns, and efforts to mitigate climate change.
Source: News Source