Future of India Electric Vehicle Motor Market: Key Dynamics, Size & Share Analysis

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.

Top Challenges Impacting the India Electric Vehicle Motor Market Growth

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.

Understanding the Core Segments in the India Electric Vehicle Motor Market

India Electric Vehicle Motor Market Size, Share & Industry Trends Analysis- By Vehicle Type (Electric Passenger Cars [Sedan Hatchback SUV] Electric Commercial Vehicles [Electric Light Commercial Vehicles Electric Medium & Heavy Commercial Vehicles] Electric Two Wheelers [Electric Scooters Electric Motorcycles] Electric Three Wheelers) By Type (AC Motor DC Motor) By Motor Type (Brushless Motors Brushed Motors Induction (Asynchronous) Motors Switched Reluctance Motors Synchronous Motors) By Component (Motor Stator Rotor, Shaft, and Bearing Permanent Magnet Casing Wiring & Connectors Others) By Power Rating (Up to 20 kW 21 kW to 100 kW 101 kW to 250 kW Above 250 kW) and others.

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Geographical Analysis of the India Electric Vehicle Motor Market

• North
• South
• East
• West

Who Dominates the India Electric Vehicle Motor Market Insights on Key Industry Players?

Companies are strengthening their presence in the consumer electronics market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.d

• ABB
• Tata Motors
• Kirloskar Electric
• Nidec Corporation
• Bharat Heavy Electricals Limited (BHEL)
• Bonfiglioli
• Laxmi Hydraulics Pvt. Ltd.
• Robert Bosch GmbH
• CG Power & Industrial Solutions Ltd.
• Weg Industries India and others.

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MarkNtel Advisors is a leading research and consulting firm providing strategic intelligence across the automotive industry, spanning automobiles, electric vehicles, autonomous driving, and automotive components & electronics. Our research helps OEMs, suppliers, and investors navigate regulatory shifts, evolving mobility patterns, and emerging EV ecosystems. With Custom Market Analysis, we deliver tailored research solutions that address specific business objectives, empowering clients to optimize investments, accelerate innovation, and sustain long-term growth in the global automotive market.

MarkNtel Advisors is a leading Market Research Company and Industry Research Report Firm offering end-to-end intelligence across the automotive sector, including automobiles, electric vehicles, autonomous driving, and automotive components & electronics. Our extensive portfolio of Syndicated Research Reports and Customized Market Research Reports delivers global, regional, and country-level insights that help manufacturers, suppliers, and investors navigate evolving emission standards, technological disruptions, and changing consumer mobility trends. Built on robust data analytics, primary interviews, and Export and Import Data, our research provides actionable Market Forecasts and Revenue Impact Assessments. Clients leverage our intelligence for business analysis, competitive benchmarking, and go-to-market planning. Through our specialized Consulting Services, MarkNtel Advisors empowers automotive stakeholders to translate insight into strategy, ensuring agility, innovation, and profitable growth in a transforming global mobility landscape.

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