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The electric vehicle (EV) motor market size is forecast to increase by USD 80.27 billion at a CAGR of 50.22% between 2023 and 2028. The market is experiencing significant growth, driven by increasing sales of electric vehicles (EVs) due to their fuel efficiency and environmental benefits. Rules and regulations, such as emissions norms, are pushing the adoption of EVs in urbanized areas. Subsidy programs and tax benefits offered by governments in various countries are further boosting the market. The market is segmented based on motor type, including AC induction motor and DC permanent magnet motor, and vehicle type, including passenger cars and commercial vehicles. Challenges include the lack of operational charging infrastructure in emerging markets and the dependence on rare earth metals for battery production.
Additionally, the need for battery recycling and the development of cost-effective and efficient battery technologies are key trends in the market. The charging infrastructure and battery recycling are crucial for the widespread adoption of EVs and the growth of the market.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Power Rating
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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