Precision Business Insights has published a report on the global electric vehicle traction motors market, estimating its value at USD 185.3 billion in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 10.8% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.
View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/electric-vehicle-ev-traction-motors-market
The Electric Vehicle Traction Motors Market refers to the global industry that designs, manufactures, and integrates electric motors that power the wheels (traction) of electric cars. These motors transfer electrical energy (stored in EV batteries) into mechanical power, allowing motion.
Drivers:
- Increasing adoption of electric buses, shared EV fleets, and autonomous vehicles in urban areas is further fueling demand for robust and reliable traction motors.
- Soaring adoption of EVs, driven by environmental concerns and fuel cost savings, is directly boosting demand for efficient traction motors.
The global electric vehicle traction motors market segmentation:
1) By Motor Type: Permanent Magnet Synchronous Motor (PMSM), Induction/Asynchronous Motor, Brushless DC Motor (BLDC), Switched Reluctance Motor (SRM)
2) By Power Rating: Below 200 kW, 200–400 kW, Above 400 kW
3) By Vehicle Type: Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV), Fuel Cell Electric Vehicle (FCEV)
4) By Application: CAR, BUS, Two-wheelers, Trucks, Railway
5) By Drive System: All-wheel drive (AWD), Front-wheel drive (FWD), Rear-wheel drive (RWD)
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Regional Overview:
The report also examines the current concerns and their Future Effects on the electric vehicle traction motors market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the electric vehicle traction motors market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.
- North America (U.S., Canada)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
- Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
- Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
The competitive landscape is dominated by major players like Tesla, Inc., BorgWarner Inc., Nidec Corporation, Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, Siemens AG, Toshiba Corporation, Mitsubishi Electric Corporation, Magna International Inc., Denso Corporation, Hitachi Automotive Systems Ltd., Valeo SA, ABB Ltd., Yaskawa Electric Corporation, Tata Motors
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