Electric Vehicle Traction Motor - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Electric Vehicle Traction Motor Market is accounted for $2.76 billion in 2019 and is expected to reach $39.87 billion by 2027 growing at a CAGR of 39.6% during the forecast period. Growing demand for energy-efficient motors and increasing investments in electric vehicles (EVS) are the major factors propelling the market growth. However, the failure cases of electric vehicle traction motors owing to overheating are hampering the market growth.
An electric vehicle traction motor utilizes electric energy from the battery of the vehicle, which is installed in an electric vehicle in order to propel it. Traction motors are capable of providing required torque for propulsion of electric vehicles.
Based on the vehicle type, battery electric vehicles segment is estimated to have a lucrative growth due to growing inclination of consumers towards adopting zero-emission vehicles. Additionally, technological developments including long-range batteries, which have fast charging capabilities. By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to escalating electric vehicle charging infrastructure and mounting government initiatives, such as NEV policy in China.
Some of the key players profiled in the Electric Vehicle Traction Motor Market include ABB Limited, AVID Technology Limited, Copper Rotor Induction Motor, Equipmake Ltd, Hitachi Automotive Systems Americas, Inc., Magnetic Systems Technology, Nidec Corporation , Parker-Hannifin Corp, RETORQ Motors Ltd, Robert Bosch GmbH, SERVAX, SKF AB, Valeo SA, YASA Motors Ltd, ZF TRW Automotive Holdings Corporation and Zytek Group Limited.
Vehicle Types Covered:
• Battery Electric Vehicles (BEV)
• Full Hybrid Vehicles
• Mild Hybrid Vehicles
• Plug-in Hybrid Electric Vehicle (PHEV)
Motor Types Covered:
• Asynchronous Motors (ASM)
• Hybrid Motors (HM)
• Permanent Magnet Synchronous Motors (PSM)
• Switched Reluctance Motor (SRM)
• Alternating Current (AC)
• Direct Current (DC)
Motor Capacities Covered:
• <40 kW
• 40 kW to <80 kW
• 80 kW
Voltage Ratings Covered:
• Electric Cars
• Electric Buses
• Electric Scooters
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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