BEV Expansion Creates New Opportunities for PMSM Manufacturers

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2026-08-12 11:57:58

The global electric vehicle (EV) permanent magnet synchronous motors market is witnessing strong expansion as automotive manufacturers accelerate the transition toward electrification. The industry was valued at US$ 6.4 Bn in 2022 and is projected to grow at a CAGR of 14.3% from 2023 to 2031, reaching US$ 21.5 Bn by 2031. Rising EV adoption, growing demand for energy-efficient powertrains, and...

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