Electric vehicle traction motor Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the Electric vehicle traction motor market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. Electric vehicle traction motor Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the Electric vehicle traction motor Market forecast.
The Electric vehicle traction motor Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.
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The electric vehicle traction motor market size is anticipated to value USD 19.8 billion until 2025. It is also expected to register a CAGR of 41.6% over the forecasted years, 2019 to 2025. The rising demand for EVs across the globe coupled with the huge investments in R&D activities for enhancing efficiency and operational performance of electric vehicles is expected to trigger the market growth of traction motors.
These traction motors form an integral part of all-electric vehicles. Further, the imposition of regulatory norms by governments of various countries is projected to upsurge the demand for EVs. Also, subsidies provided for purchasing EVs along with higher fuel efficiency as compared to conventional vehicles is anticipated to boost the demand for traction motors.
The BEV vehicle type segment held a dominant share across the market in 2018 due to their rising demand owing to the usage of electric motors and motor controllers. On the other hand, the PHEV segment is projected to witness substantial share across the market in 2018 owing to the lower risk of vehicle shut down while commuting.
In 2018, Asia Pacific dominated the market owing to the rising presence of several manufacturing facilities across countries like China and India. While North America is also expected to register substantial share in the market due to the increasing presence of electric vehicle manufacturers across countries like the U.S. and Canada.
The EV traction motor market includes key players, are continuously engaged in developing traction motors with higher operational efficiency and low power consumption.
Some of the companies for Electric Vehicle Traction Motor market are:
SKF AB, Parker-Hannifin Corp., ABB Limited, Robert Bosch GMBH, and YASA Motors Ltd.
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