Axial Flux Motor Market

Global Axial Flux Market Forecast

• Global market for axial flux motors to be worth US$965.5 Mn by 2030, up from US$492.3 Mn attained in 2023
• Axial flux motor market poised to display a CAGR of 10.1% between 2023 and 2030

Quick Report Digest

1. Rising focus on energy efficiency and sustainability are the key trends anticipated to fuel the axial flux motor market growth. Furthermore, axial flux motor usage is driven by the global focus on sustainability and energy efficiency, which occurs in various industries. Axial flux motors support the sustainability objectives of businesses investing more and more in environmentally friendly technologies.
2. Another major market trend expected to fuel the axial flux motor market growth is the rapidly rising customisation and modular designs. Moreover, customisation and modular designs for axial flux motors are becoming more popular. Manufacturers give end users in various industries flexibility by customising solutions to match specific needs.
3. Axial flux motors have complex designs and unique manufacturing constraints, which make scaling up production challenging. This constraint may impact manufacturers' capacity to fulfill the rising market demand effectively.
4. In 2023, the inner rotor category dominated the industry. Many industrial automation applications, including robotics and machinery, use inner rotor axial flux motors. They're ideal for jobs requiring accurate and effective motion control because of their small size and high torque output.
5. Regarding market share for axial flux motors globally, the 15kw-80kw segment is anticipated to dominate. Axi al flux motors with power ratings ranging from 15 kw to 80 kw are employed in the marine industry for electric propulsion in boats, yachts, and smaller watercraft. A contributing factor to the electrification of sea transportation is the motors.
6. In 2023, the automotive industry category controlled the market. Axial flux motors can be used in hybrid cars to complement the internal combustion engine or to help with electric power during acceleration.
7. The European region is anticipated to account for the largest share of the global axial flux motor market, owing to Europe's aggressive research and funding of drones, electric air taxis, and other urban air transportation alternatives. Because of their high power density and lightweight construction, axial flux motors are a good fit for applications involving aerial mobility, fueling the market's expansion.
8. The market for axial flux motors is expanding in Asia Pacific because axial flux motors can benefit from the advancement of smart grid technologies and energy storage solutions in Asia Pacific. These motors can be included in energy storage systems, improving the grid's efficiency and stability.

A Look Back and a Look Forward - Comparative Analysis

Increasing funding for electric vehicle infrastructure, such as support networks and charging stations, encourages the use of EVs. The axial flux motor market has grown because EV drivetrains frequently use axial flux motors. Consumers are encouraged to consider electric vehicles by investing in the infrastructure necessary for charging, such as fast-charging stations in urban areas and along roads. This subsequently drives the need for the axial flux motors that power these vehicles.

The market witnessed staggered growth during the historical period 2018 - 2023. Several companies are supported and invested in the axial flux motor and its seed development. For instance, in June 2020, the UK government announced a $91.3 million investment to research advanced electric vehicle technology in the automotive industry. In October 2019, TechPro announced a $10 million investment in developing India's electric vehicles and associated infrastructure.

In September 2018, Govecs AG, a German company, and a British company signed a memorandum of intent to deliver 6000 e-scooters for the shared mobility market. 3,000 Schwalbe e-scooters will be delivered in 2019, and the remaining 3,000 will be delivered in 2020. The characteristics mentioned above are advantageous to the axial flux electric motor market.

Robotics applications that require direct drive are ideally suited for axial flux motors because they do not require additional mechanical parts like belts or gears. This improves overall system efficiency and streamlines the design in the coming years. Additionally, high torque may be produced by axial flux motors even at low speeds, which is an essential feature for robotic applications requiring precise and controlled movements. Furthermore, the increasing use of collaborative robots in industrial environments drives demand for small, effective motors such as axial flux motors. These motors will aid in creating cooperative robotic systems during the next five years.

Key Growth Determinants

• Rising Demand for High Power Density

The power density of axial flux motors is higher by design than that of conventional radial flux motors. In applications where space is limited, such as electric vehicles, drones, and robotics, the small design of axial flux motors makes for a more effective use of available space. Axial flux motors with high power densities frequently have low weights. This quality is especially useful in sectors like aerospace and automotive, where weight reduction is critical.

Enhanced overall performance and efficiency are facilitated by the lightweight design. Axial flux motors have a high power density, allowing them to provide more power in a smaller package. Because it lowers energy consumption and operating costs, its efficiency is essential when energy conservation is a top priority.

• Growing Focus on Fuel Efficiency

Fuel efficiency is crucial in electric vehicles (EVs), where axial flux motors are essential. Because of the design of the motors, there is an increased efficiency in converting electrical energy to mechanical power, which improves the total fuel efficiency of electric vehicles.

Axial flux motors help cut down on energy usage thanks to their highly efficient and sophisticated designs. This is especially crucial for applications where energy efficiency is crucial, including renewable energy systems and industrial machinery. Axial flux motors' high power density helps to achieve an ideal power-to-weight ratio. In transportation applications, where weight reduction is critical for energy conservation and enhanced performance, this ratio is critical in attaining greater fuel economy.

• Expanding Demand for Compact Design and Lighter Weight

The small size of axial flux motors makes effective use of available space. This is especially useful for applications like robotics, drones, and electric vehicles when space is at a premium. Their compact size facilitates the motors' broad use across various industries. Axial flux motors' lightweight design and compact size make them ideal for robotics and automation applications.

With the help of these motors, robotic systems that are agile and maneuverable will be able to move efficiently and precisely in a variety of commercial and industrial applications because they are lightweight and have a compact design; axial flux motors can be used in portable devices. This includes battery-operated devices, power tools, and other applications where it is necessary to minimise weight in order to maximise portability and user convenience.

Major Growth Barriers

• High Initial Costs

Axial flux motor manufacturing frequently requires sophisticated manufacturing techniques and specialised technologies. The cost of implementing and maintaining these procedures may increase, which raises the total cost of axial flux motors. High-performance materials, including rare earth magnets, are frequently used in axial flux motors. Axial flux motors are more costly to produce than conventional motor technologies due to the expense of these raw ingredients, which may only sometimes be readily available.

• Limited Availability of Raw Materials

Rare earth metals, especially neodymium, and dysprosium, are frequently used in axial flux motors to create high-strength permanent magnets. These rare earth metals are necessary for obtaining a steady supply for mass production, price swings, and vulnerabilities in the supply chain. Trade restrictions, natural disasters, or geopolitical conflicts can all lead to disruptions in the global supply chain for rare earth metals. These interruptions may lead to shortages, higher prices, and unpredictability in supplying essential raw materials to manufacture axial flux motors.

Key Trends and Opportunities to Look at

1. Rapid Adoption of Electric Vehicles (EVs)

The use of axial flux motors in electric vehicles is consistent with international initiatives to advance environmentally friendly and sustainable modes of transportation. Electric mobility is becoming a top priority for manufacturers, consumers, and governments as part of larger environmental initiatives. Electric vehicles, such as scooters, electric bicycles, light-duty commercial vehicles, and passenger automobiles, can be equipped with axial flux motors. Because of their adaptability, various manufacturers serving different EV markets find them appealing.

2. Growing Advancements in Magnet Technology

The ongoing developments aim to make the materials used in axial flux motors stronger magnetically. Higher torque and power density are made possible by stronger magnets, which enhance the motor's overall performance and increase the range of applications for which it can be used. Reducing costs and enhancing accessibility are two benefits of ongoing developments in magnet manufacturing processes. These developments solve issues with raw material supply and cost by increasing the accessibility of high-performance magnets.

3. Enhancing Integration in Renewable Energy Systems

The use of axial flux motors in wind turbine direct drive systems is growing. They are ideal for absorbing and transforming wind energy into electricity due to their high power density and efficiency. The need for axial flux motors is fueled by the expansion of the wind energy industry, which is a result of international efforts to boost the capacity of renewable energy sources.

Axial flux motors are used in generators of hydropower, where they are essential in transforming the mechanical energy of flowing water into electrical power. Axial flux motors' versatility and efficiency make them appropriate for a range of hydropower systems, which supports the expansion of renewable energy infrastructure.

How Does the Regulatory Scenario Shape this Industry?

Over the last three years, International standards for electrical, electronic, and related technologies have been established by the IEC. Electric motor design, operation, and testing are governed by standards like IEC 60034, which give axial flux motor producers a framework to guarantee that their products meet international standards. UL is a well-known testing and certification body for product safety in North America.

Axial flux motors must frequently meet UL standards, such as UL 1004-1 for electric motors, to be sold. Electrical and electronic engineering standards are developed and defined in Europe by CENELEC. To comply with IEC standards, electric motors in the European Union must adhere to the EN 60034 series. NEMA sets performance and testing guidelines for electric motors in the US.

Manufacturers of axial flux motors must adhere to NEMA MG 1, which contains general and performance requirements for motors. ISO creates international standards for a range of sectors. Although axial flux motors may not be specifically covered by any ISO standard, standards about testing, efficiency, and environmental effects can significantly impact market expectations.

Fairfield’s Ranking Board

Top Segments

1. Pre-eminence of the Inner Rotor Category Prevails

The inner rotor segment dominated the market in 2023. Electric vehicles often use inner rotor axial flux motors due to their compact size and high power density. The arrangement makes it possible to integrate the system effectively inside the constrained space of electric drivetrains. Electric propulsion systems for aircraft and drones are among the uses of axial flux motors with inner rotors in aerospace applications. They can be used in aircraft due to their lightweight construction and high power density, which advances the development of electric aviation technology.

Furthermore, the outer rotor category is projected to experience the fastest market growth. Hydroelectric generators and wind turbines are examples of renewable energy systems that use outer rotor axial flux motors. Advantages in heat dissipation from the outer rotor design enable effective operation in harsh environmental conditions. Outer rotor axial flux motors are ideal for industrial applications like fans and blowers because of their small size and high efficiency. These motors offer dependable, high-performing air circulation solutions for various industrial environments.

2. The 15kw-80kw Category will Surge Ahead

In 2023, the 15kw-80kw category dominated the industry. Electric vehicles frequently use axial flux motors with power outputs between 15kw and 80kw, particularly electric cars, scooters, and electric bicycles. The power rating satisfies these vehicles' needs for small, effective electric propulsion systems. There is a noticeable need in the light commercial vehicle category for axial flux motors in the designated power range. This covers electric vans, delivery vehicles, and other urban transportation options with a power level of 15kw-80 kw.

The 1kw-15kw category is anticipated to grow substantially throughout the projected period. Small-scale wind turbines and micro-hydroelectric generators frequently use 1kw to 15kw axial flux motors. In rural and residential settings, these motors can generate renewable energy decentralised. Power tools such as grinders, saws, and drills use axial flux motors, which range in power from 1kw to 15kw. These motors improve the functionality of handheld and portable instruments used in DIY and construction projects.

3. Automotive Industry Remains the Dominant End-Use Sector

The automotive industry segment dominated the market in 2023. Electric and hybrid car cooling systems use axial flux motors to move coolant around to control temperature. These motors can be incorporated into electric power steering systems for better efficiency and control. Regenerative braking is made possible by using axial flux motors in brake-by-wire systems. Because of their performance qualities, axial flux motors may be preferred in electric race vehicles where great power density and efficiency are essential.

The wind energy category is expected to experience the fastest growth within the forecast time frame. Some wind turbines use axial flux motors as direct drive generators, which do not require a gearbox. This design makes The turbine structure simpler, which also increases dependability and lowers maintenance needs.

Regional Frontrunners

Europe Remains the Largest Revenue Contributing Region  

Europe is expected to dominate the market. European nations are driving the adoption of environmentally friendly and sustainable technologies. Because there is a strong focus on lowering carbon emissions and boosting clean energy, the industry has been quick to use axial flux motors in various applications, including electric vehicles and renewable energy systems.

Axial flux motors are widely used in the electric car lineups of automakers, many of which are based in Europe. Together, they helped Europe establish itself as a center for research and production of electric vehicles. Financial resources for wind and hydropower are among the most abundant in European countries. In wind turbines and hydropower generators, axial flux motors help the region lead the way in renewable energy research and development.

Market Thrives in Asia Pacific as Solar and Wind Power Sectors Expand  

Asia Pacific is expected to be the fastest-growing region. This is because significant investments in renewable energy projects, especially in wind and solar, have been made in Asia Pacific. Axial flux motors are crucial in solar tracking systems and wind turbines, helping the area shift to greener, more sustainable energy sources.

Federal and state governments provide incentives and restrictions to promote using electric vehicles and renewable energy sources. These programs create an ideal environment for axial flux motors, particularly in light of the region's emphasis on energy efficiency and carbon emission reduction.

The Asia Pacific aerospace sector has significantly aided the adoption of cutting-edge motor technologies. Due to their lightweight construction and great power density, axial flux motors are used in aircraft electric propulsion systems.

Fairfield’s Competitive Landscape Analysis

A few global companies control most of the axial flux motor market. The leading businesses are creating new products and enhancing their distribution systems to expand their worldwide footprint. Moreover, Fairfield Market Research expects more consolidation over the coming years.

Who are the Leaders in Global Axial Flux Motor Space?

• ABB
• Siemens
• Saietta Group
• Agni Motors
• YASA Limited
• Avid Technology
• Turntide Technologies
• Magnax BV
• Lucchi R
• Nidec
• Danfoss
• Regal Rexnord
• Evo Electric
• QS Motor

Significant Company Developments

New Product Launch

• August 2023: The leader in axial flux electric motor technology, Magnax, has finished a €20 million investment round and added two new investors: SFPIM and BIG Capital, who spearheaded the round. Magnax aims to accelerate the creation of electric vehicle powertrains and aircraft propulsion systems with yokeless axial flux technology at its core.
• August 2023: OEM electric truck The axial flux motor platform has been introduced by Tresa Motors. An Indian-based original equipment manufacturer (OEM) of electric trucks, Tresa Motors, unveiled the FLUX 350 platform, which includes a Permanent Magnet Synchronous Axial Flux Motor.
• November 2022: The axial flux powertrain for electric vehicles from Naxatra Lab has been released. This state-of-the-art technology offers improved performance and economy in the driving systems of electric vehicles.

Distribution Agreement

• January 2024: Leading Chinese producer of axial flux motors, Yasa, formed a strategic partnership with BMW to supply motors for the future electric supercar. This partnership demonstrates how axial flux motors are becoming increasingly common in high-performance automobiles.
• October 2022: Toroid International and Arrival, an electric vehicle startup based in the UK, have partnered to supply axial flux motors for Toroid International's delivery trucks. This signaled the technology's major commercial adoption in the EV market.

An Expert’s Eye

Demand and Future Growth

The global expansion of wind power projects offers axial flux motors a significant opportunity. They are perfect for wind turbine generators because of their effective operation and appropriateness for variable-speed applications, which helps to expand the renewable energy industry.

Furthermore, axial flux motors can increase their market share internationally as long as emerging markets keep expanding and investing in contemporary technology. Companies can exploit new opportunities and propel market growth by strategically increasing their presence in some markets. However, the axial flux motor market is expected to face considerable challenges because of high initial costs.

Supply Side of the Market

According to our analysis, cost-effective production is made possible by the advanced manufacturing ecosystems and economies of scale found in China, Japan, and South Korea. The need for axial flux motors is significant in Asia Pacific due to the rapidly increasing automation and electrification across numerous industries. China is the undisputed leader, producing more than 40 million units annually. Its extensive manufacturing capability, wide range of products, and affordable prices serve various purposes.

About 15 million units are contributed by Japan, which specializes in high-precision, high-efficiency AFMs for specialised markets, including aerospace and robotics. South Korea is known for its creative designs and significant presence in the automotive and consumer electronics industries, this country produces over 10 million units annually.

Approximately 25% of the global market is held by Europe, which produces more than 30 million units a year. European nations with a history of motor technology innovation, such as Germany and France, have created R&D skills and competencies. China, the world's biggest consumer, uses axial flux motors in wind turbines, industrial automation, and electric cars, consuming more than 35 million units annually. The US, a significant consumer, uses more than 15 million units a year in industrial and automotive applications, with an increasing need for environmentally friendly and highly efficient solutions.

Global Axial Flux Motor Market is Segmented as Below:

By Motor Type:

• Inner Rotor
• Outer Rotor

By Power Rating:

• 1kw-15kw,
• 15kw-80kw
• 80kw-160kw
• Above 160kw

By End User Industry:

• Automotive Industry
• Wind Energy
• Industrial Manufacturing
• Consumer Electronics

By Geographic Coverage:

• North America 
  • U.S. 
  • Canada 
• Europe 
  • Germany
  • U.K.
  • France
  • Italy
  • Turkey
  • Russia
  • Rest of Europe 
• Asia Pacific 
  • China
  • Japan
  • South Korea
  • India
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America 
  • Brazil 
  • Mexico 
  • Argentina
  • Rest of Latin America 
• Middle East & Africa  
  • GCC 
  • South Africa
  • Egypt
  • Nigeria
  • Rest of Middle East & Africa