(MENAFN- GlobeNewsWire - Nasdaq) The growing Acquisition of electric vehicles and the growing demand for energy-efficient motors covering several industries are boosting the electric motor rotor shaft market.New York, USA, Dec. 10, 2024 (GLOBE NEWSWIRE) -- market Overview
The global electric motor rotor shaft market size is projected to grow from USD 2.24 billion in 2024 to USD 4.44 billion by 2034, at a CAGR of 6.4%, according to a new report by Polaris Market Research.
Rotor shafts are elemental constituents of electric motors for electric vehicles. They transport the mechanical energy created by electromagnetic communication between the rotor and stator to the drive shaft, which sanctions the vehicle to move. Rotor shafts are excessively accountable for the alteration of electrical energy into mechanical action of the drive train. It must be capable of combating accelerated speeds and forces while being made with utmost accuracy to sanction the seamless function of the electric motor.
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Key Insights from the Report
The market for electric motor rotor shafts is significantly shaped by the nudge toward green energy sources and the electrification of industrial procedures. The electric motor rotor shaft market segmentation is mainly based on type, material type, application, end user, and region. Based on type, the solid shaft segment is expected to experience the highest CAGR during the forecast period. By region, the report provides market insights into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Electric Motor Rotor Shaft Market Scope
| Report Attributes | Details |
| Market size value in 2024 | USD 2.24 billion |
| Market size in 2025 | USD 2.39 billion |
| Revenue forecast in 2034 | USD 4.44 billion |
| CAGR | 6.4% from 2025 to 2034 |
| Base year | 2024 |
| Historical data | 2020-2023 |
| Forecast period | 2025-2034 |
Market's Growth Drivers
Amalgamation of Progressive Substances : The amalgamation of progressive substances such as composites and alloys improve shaft longevity and decreases weight, assisting in enhanced motor productivity. The acquisition of such substances is anticipated to surface as a forthcoming trend in the market. Further, the continuing progressions in manufacturing technologies involving accuracy engineering and automation are contributing to the electric motor rotor shaft market growth.
Acquisition of Progressive Composites : Manufacturers are growingly embracing progressive composites, elevated strength alloys, and carbon fiber to decrease the weight of rotor shafts. Demand for more green motors is surging globally, especially in electric vehicles, as motors assist in decreasing the comprehensive weight, which can cause notable energy savings and expanded battery life.
Growing Usage of Industry 4.0 Concepts : Industry 4.0 notions such as IOT, AI, and data analytics are being used to maximize production procedures, enhance quality regulation, and decrease manufacturing prices. These technologies sanction real-time observation and prophetic sustenance of rotor shafts, sanctioning consonant performance and durability.
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List of Electric Motor Rotor Shaft Market Key Players
Siemens AG Bosch Rexroth AG ABB Ltd. General Electric (GE) Schneider Electric Mitsubishi Electric Nidec Corporation Emerson Electric Co. SKF Group Timken Company Parker Hannifin Eaton Corporation
Geographical Analysis
Asia Pacific accounted for the largest electric motor rotor shaft market share owing to the region's robust industrial foundation, speedy urbanization, and notable existence of automotive manufacturing centers in nations such as China, Japan, and South Korea. The region's authority in EV generation and acquisition, together with its growing concentration on green energy, pushes its dominance.
Europe is also expected to grow at the highest CAGR during the forecast period. This is primarily because of its robust concentration on eco-friendly and progressive manufacturing technologies. The region's automotive industry, especially in Germany, is a prominent propeller of the demand with an escalating concentration on EVs and hybrid systems. European nations are also at the vanguard of industrial automation and green energy acquisition additionally pushing the requirement for elevated presentation electric motors and constituents such as rotor shafts.
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Market Segmentation
By Type Outlook
Solid Shaft Hollow Shaft Stepped Shaft Others
By Material Type Outlook
Steel Aluminum Composite Others
By Application Outlook
Industrial Machinery Automotive Sector Appliances Others
By End User Outlook
By Regional Outlook
North America Europe Germany France UK Italy Spain Netherlands Russia Rest of Europe
Asia Pacific China Japan India Malaysia South Korea Indonesia Australia Vietnam Rest of Asia Pacific
Middle East & Africa Saudi Arabia UAE Israel South Africa Rest of the Middle East & Africa
Latin America Mexico Brazil Argentina Rest of Latin America
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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