Electric Vehicle Traction Motor Market Revenue to Witness Steady Growth Through 2024

[85 Report Pages]This market research report includes a detailed segmentation of the global Electric Vehicle Traction Motor market by motor type (Synchronous Motor, Induction Motor), motor capacity (<40 kW, ≥40 kW to <80 kW, and ≥80 kW), vehicle type (battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV)), and application (electric cars, electric buses, and electric scooters). The market research report identifies Zhongshan Broad-Ocean Motor Co., Ltd., BorgWarner Inc., Robert Bosch GmbH, Continental AG, Siemens AG, Nidec Corporation, LG Electronics and others as the major players operating in the global electric Vehicle Traction Motor market.

Electric Vehicle Traction Motor Market Overview:

The global electric vehicle (EV) traction motor market is expected to witness significant growth during the forecast period. The market is driven by increasing government initiatives on electric vehicle adoption, increasing focus on expanding electric vehicle charging infrastructure, and growing preference for electrification of the public fleet. Electric vehicles are equipped with an electric motor for propulsion of the vehicle. These vehicles can be classified into battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV). BEV is a zero-emission vehicle that purely runs on a battery and electric traction motor without an internal combustion engine (ICE). The battery can be plugged in and recharged from an external energy source. PHEV is equipped with two propulsion modes, i.e., drive motor and internal combustion engine (ICE). When the battery is high, the vehicle runs on the drive motor and when the battery is low, the vehicle runs on ICE.

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Competitive Analysis & Key Vendors

The global electric vehicle traction motor market is expected to 30.9% during the forecast period 2018–2024. The report contains an in-depth analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategies, and views; and competitive landscape.

Few of the Electric Vehicle Traction Motor Market key players profiled in this study include

  • Zhongshan Broad-Ocean Motor Co. Ltd.
  • BorgWarner Inc.
  • Robert Bosch GmbH
  • Continental AG
  • Siemens AG
  • Nidec Corporation
  • LG Electronics
  • MEIDENSHA CORPORATION
  • Jing-Jin Electric Technologies Co. Ltd.
  • Shuanglin Group

 Regional Analysis

The Asia Pacific region is dominating in the global EV traction market followed by Europe. In terms of revenue, Asia Pacific accounted for more than 60% share and is projected to remain dominant during the forecast period. This is mainly due to the expanding electric vehicle charging infrastructure and increasing government initiatives, such as NEV policy in China. The report also covers country-wise analysis of the electric vehicle traction motor market across various regions including the Americas, Europe, Asia Pacific, and Middle East & Africa (MEA).

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Electric Vehicle Traction Motor Market by Motor Type

  • Synchronous motor
  • Induction motor

Electric Vehicle Traction Motor Market by Motor Capacity

  • <40 kW
  • ≥40 kW to <80 kW
  • ≥80 kW

Electric Vehicle Traction Motor Market by Vehicle Type

  • Battery electric vehicles (BEV)
  • Plug-in hybrid electric vehicles (PHEV)

Electric Vehicle Traction Motor Market by Application

  • Electric cars
  • Electric buses
  • Electric scooters

Benefits

The study offers a comprehensive analysis of the “global electric vehicle traction motor market”. Bringing out the complete key insights of the industry, the report aims to provide an insight into the latest trends, current market scenario, and technologies related to the market. In addition, it helps the venture capitalists to understand revenue opportunities across different segments to take better decisions.

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