Japan Electric Vehicle Motor Market Report and Forecast 2024-2032

Japan Electric Vehicle Motor Market Outlook

The Japan electric vehicle motor market is expected to grow at a CAGR of 21.1% between 2024 and 2032. The market is being driven by the rising demand for electric vehicles to fulfil passenger and commercial needs.

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Key Trends in the Market

An electric vehicle motor is defined as a vehicle which runs on electricity. An electric vehicle motor consists of an electric motor which extracts electricity from a battery and powers the vehicle. The electric vehicle motor can be in the form of an AC motor or a DC motor. These vehicles are rechargeable and can be charged using a power cable or a hydrogen fuel cell. 

• The growing transition from conventional internal combustion vehicles towards electric and plugin electric vehicles, owing to the increasing prices of fuel and growing awareness pertaining to environment pollution, is driving the Japan electric vehicle motor market size expansion.

• The favourable policies of the Japanese government, aimed towards reducing the carbon footprint and greenhouse emission, are likely to escalate the sale of these vehicles in the forecast period.

• The rising brand awareness, inflating per capita income, strong automotive infrastructure, and growing working population in the country are some of the crucial Japan electric vehicle motor market trends. As more of the Japanese population become aware of the advantages of electric vehicles over traditional, they are likelier to invest in electric vehicles in the coming years.

Opportunities and Challenges

The decarbonisation trend in Japan is likely to offer lucrative opportunities to the electric vehicle motor market in Japan by increasing the sale of commercial electric vehicles for delivery and transportation services. In addition, the increasing domestic demand for commodities and gadgets are fuelling the need for commercial vehicles for transportation purposes. This is, in turn, anticipated to heighten the incorporation of electric vehicles in the commercial sector of Japan. 

The growing efforts and research and development activities by the major automotive manufacturers in the country, targeted towards reviving and relaunching the electrified versions of the existing conventional cars are likely to boost the Japan electric vehicle motor market share in the coming years. 

However, the shortage of lithium-ion batteries may pose a challenge to the electric vehicle motor market in Japan. 

Market Analysis

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Based on type, the market can be segmented into AC motor and DC motor. On the basis of vehicle type, the market can be classified into battery electric vehicle and plugin electric vehicle. By application, the market has been segmented into passenger cars and commercial vehicles. 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Japan electric vehicle motor market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Wolong Holding Group Co.,Ltd.

• Johnson Electric Holdings Limited

• DENSO Corporation

• ABB Ltd

• Mitsubishi Electric Corporation

• Robert Bosch GmbH

• Others

Market Share by Vehicle Type

The battery electric vehicle segment, based on vehicle type, accounts for a healthy share of the electric vehicle motor market in Japan. Battery electric vehicles are free from gearboxes, noise-free, emission-free, easy to drive, lightweight, tax efficient, and have a low cost of maintenance. The on-going advancements in battery technology aimed towards improving the travel range of the vehicles after a full charge while reducing the weight to enhance the customer experience of driving, are further aiding the segment’s growth. Meanwhile, the increase in demand for plugin electric vehicles is expected in the forecast period as it aids the gas engine, leading to an improved efficiency of the vehicle and Japan electric vehicle motor market growth.

Market Share by Application

Based on application, the passenger cars segment accounts for a significant share in the electric vehicle motor market in Japan. The strong foothold of leading EV manufacturers in the country is supporting the demand for advanced electric vehicles such as MAZDA SEDAN X, and HYBRID X Honda SENSING, among others. The growing transition from traditional fuel-based to electric vehicles, owing to the increasing eco-friendly sentiments among Japanese population, are further propelling the demand for passenger electric vehicles, influencing the overall Japan electric vehicle motor market price. The increasing popularity of hybrid electric vehicles in Japan is further expected to push the adoption of these vehicles among the population.  

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Competitive Landscape

Wolong Holding Group Co.,Ltd. is a leading motor manufacturing company based in Zhejiang, China. The company manufactures various types of motors, catering to the demands of railway, automotive, and urban rail sectors. Wolong Holding Group Co.,Ltd. has around 54 subsidiaries and it also provides expertise in the field of electric vehicles. 

Johnson Electric Holdings Limited is a leading automotive company which provides motors, actuators, motion subsystems, electro-mechanical components, and medical equipment, among others. The company was founded in the year 1959 and is currently headquartered in Shatin, Hong Kong. Johnson Electric Holdings Limited also has manufacturing facilities across 22 countries, supporting its extended reach. 

DENSO Corporation is a global automotive manufacturer which provides various automotive technologies, systems, and products. The product portfolio of DENSO Corporation includes air conditioning systems, radiators, and alternators, among others. The company was established in the year 1949 and is currently headquartered in Kariya, Aichi, Japan.  

Other market players include ABB Ltd, Mitsubishi Electric Corporation, and Robert Bosch GmbH, among others.

Key Highlights of the Report