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Apr 18, 2024
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Electric Vehicle Traction Motor Market growth is forecasted at a CAGR of 29.14% during 2024-2030. A detailed description of the factors and market trends pertaining to different regions is given in detail in the report.
Electric Vehicle Traction Motor Market Report Overview
The report looks at current and future circumstances in the Electric Vehicle Traction Motor Market, providing unique insights and up-to-date data for important segments. The study covers important research issues in the Electric Vehicle Traction Motor industry, such as revenue generation, sales, and total income. To provide a comprehensive view, the study examines two distinct scenarios that include the whole Electric Vehicle Traction Motor market, including expected Electric Vehicle Traction Motor sales during the forecast period.
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Electric Vehicle Traction Motor Market Dynamics:
The growing popularity of electric vehicles is one of the Market's primary drivers. As governments throughout the world work to minimise carbon emissions, people are increasingly choosing electric vehicles over traditional gasoline-powered automobiles. The increased use of electric vehicles is expected to generate demand for EV Traction Motors, which are a crucial component of electric vehicles.
Technological breakthroughs and innovations in EV Traction Motors are also fueling market expansion. Market competitors are spending in R&D operations to create motors that are more efficient, lightweight, and compact. For example, in June 2021, Hyundai Motor Group revealed that it has developed a new electric motor that is smaller, lighter, and has a higher power.
Electric Vehicle Traction Motor Market Report Scope and Research Methodology:
The primary purpose of the Electric Vehicle Traction Motor market study is to provide a thorough analysis in clear and simple terms. The analysis covers all of the major companies and essential features of the Electric Vehicle Traction Motor market, assessing numerous metrics such as volume, share, growth, and strategy. This research not only helps established organisations refine their operating plans, but it also provides strategic recommendations to new entrants. MMR’s research delves deeply into the Electric Vehicle Traction Motor market, identifying the leading worldwide businesses based on parameters such as volume, share, strategies, and growth. The research also includes tactics for both existing industry participants and potential Electric Vehicle Traction Motor market entrants. Furthermore, the global research for the Electric Vehicle Traction Motor market provides a detailed breakdown of regional share distribution, as well as an examination of development drivers in each area.
Electric Vehicle Traction Motor Market Segmentation:
by Type
AC Induction Motor
Permanent Magnet Synchronous Motor (PMSM)
Brushless DC Motor (BLDC)
by Vehicle Type
Battery Electric Vehicles (BEV)
Hybrid Electric Vehicles (HEV)
Plug-In Hybrid Electric Vehicles (PHEV)
by Power Output
Less than 250 kW
251-500 kW
More than 500 kW
Based on Vehicle Type: The Battery Electric Vehicles (BEV) segment held the largest Electric Vehicle Traction Motor Market share in the global market in 2023 and is expected to grow rapidly during the forecast period. The expansion of this sector is propelled by strict emission regulations, a rising need for enhanced fuel economy, increasing demand for zero-emission automobiles, and the growing acceptance of battery electric vehicles across various sectors including personal transportation, autonomous delivery services, industrial applications, and public transit.
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Electric Vehicle Traction Motor Market Regional Insights:
The Electric Vehicle Traction Motor Market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific is the leading market for EV traction motors due to the presence of established automobile manufacturing companies and the increasing demand for electric vehicles in countries like China, Japan, and India. According to the report, the electric vehicle sales in China reached approximately 5.67 million units in 2022, which accounted for 59% of the global electric vehicle sales. Moreover, the Indian government has also taken initiatives to support the adoption of electric vehicles, such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, which provides incentives for the purchase of electric vehicles.
Electric Vehicle Traction Motor Market Key Players:
The report has in detail information about the Strategies adopted by the following key companies to sustain and grow in the market. These EV Traction Motor Manufacturers covered in the report are selected on the basis of certain criteria.
1. ABB Ltd. (Switzerland)
2. Advanced Motors & Drives (US)
3. BOSCH (Germany)
4. BorgWarner Inc. (US)
5. Continental AG (Germany)
6. DENSO Corporation (Japan)
7. Emerson Electric Co.(US)
8. GKN Automotive Limited (UK)
9. Hitachi Automotive Systems, Ltd. (Japan)
10. Hyundai Mobis Co., Ltd. (South Korea)
11. Jing-Jin Electric Technologies (China)
12. Magna International Inc. (Canada)
13. Mahindra Electric Mobility Limited (India)
14. Mitsubishi Electric Corporation (Japan)
15. Nidec Corporation (Japan)
16. Parker-Hannifin Corporation (US)
17. Regal Beloit Corporation (US)
18. Robert Bosch GmbH (Germany)
19. Siemens AG (Germany)
20. Toshiba Corporation (Japan)
21. TTM Technologies, Inc. (US)
22. Valeo SA (France)
23. WEG S.A. (Brazil)
24. YASA Limited (UK)
25. ZF Friedrichshafen AG (Germany)
26. Hino Motors, Ltd. (Japan)
27. TM4 Inc. (Canada)
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Table of Content: Electric Vehicle Traction Motor Market
Part 01: Executive Summary
Part 02: Scope of the Electric Vehicle Traction Motor Market Report
Part 03: Electric Vehicle Traction Motor Market Landscape
Part 04: Electric Vehicle Traction Motor Market Sizing
Part 05: Electric Vehicle Traction Motor Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
Key Offerings:
Past Market Size and Competitive Landscape (2023-2029)
Past Pricing and price curve by region (2023-2029)
Market Size, Share, Size Forecast by different segment | 2024-2030
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation – A detailed analysis by segments and their sub-segments
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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