Market Overview:
The global electric vehicle traction motor market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for electric vehicles across the globe. Electric cars, buses, and scooters are some of the major applications of electric vehicle traction motors. Asia Pacific is expected to be the fastest-growing region in this market during the forecast period.
Product Definition:
Electric Vehicle Traction Motor: A motor used to power an electric vehicle. Electric vehicles require a large amount of torque to get moving, and traction motors provide this torque. They are typically more powerful than regular electric motors, and are designed specifically for use in vehicles.
Synchronous motor:
Synchronous motors are used in traction motors for electric vehicles. They are also used in industrial applications such as printing, robotics, machine tools and assembly systems. Synchronous motors have a number of advantages over conventional DC or AC induction motors including high power density, low cost and less weight which is expected to drive the market growth over the forecast period.
The global synchronous motor market was valued at USD 4.6 billion in 2015.
Induction motor:
Induction motor is a type of electric motor which uses the principle of electromagnetic induction for generating mechanical power. The main difference between them and synchronous motors is that the former does not have brushes, while the latter has. Induction motors are smaller, lighter in weight, and more efficient as compared to conventional ones. They are used in various applications such as household appliances like vacuum cleaners or coffee machines or industrial equipment like printing presses or packaging machinery among others.
Application Insights:
Electric cars accounted for the largest market share in 2017 and are projected to expand at a CAGR of XX% over the forecast period. The introduction of stringent emission norms has catalyzed electric car production across various regions, including Asia Pacific and Europe. Various governments have implemented several policies to encourage manufacturers and stimulate demand for electric vehicles, such as tax exemptions on purchase of electric cars, free parking facilities at airports and railway stations, low-cost loans for buyers among others. These initiatives are expected to drive consumer interest in purchasing an EV thus providing greater opportunities for traction motor suppliers during the forecast period.
The growing emphasis on reducing carbon emissions is likely to propel demand from major applications including EV buses & trucks which were previously dominated by diesel engines owing to their higher fuel efficiency compared with gasoline or diesel fueled vehicles respectively.
Regional Analysis:
Asia Pacific accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The region has witnessed a growing adoption of electric vehicles owing to favorable government policies, increasing battery capacity, and technological advancements. China is anticipated to dominate the regional market over the next eight years owing to low production costs as compared to other countries in Asia Pacific.
The European region accounted for a significant revenue share in 2017 due to rising investments by companies such as Siemens AG and Alstom Grid, which are engaged in developing innovative solutions for urban transport applications across Europe. Moreover, these companies have introduced new products such as direct drive motors with reduced weight and size suitable for traction motor application that can propel trains at higher speeds with greater efficiency than conventional induction motors used on diesel-electric locomotives. North America also contributed significantly towards market growth due high demand from U.S.
Growth Factors:
- Increasing demand for electric vehicles from the automotive sector
- Government initiatives and subsidies for electric vehicles
- Rising awareness about the benefits of electric vehicles over traditional petrol or diesel-powered vehicles
- Technological advancements in electric vehicle traction motors that improve performance and efficiency
- Growing demand for eco-friendly alternatives to conventional transportation modes
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Vehicle Traction Motor Market Research Report
By Type
Synchronous motor, Induction motor
By Application
Electric cars, Electric buses, Electric scooters
By Companies
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, Zhongshan Broad-Ocean Motor Co. Ltd.
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
175
Number of Tables & Figures
123
Customization Available
Yes, the report can be customized as per your need.
Global Electric Vehicle Traction Motor Market Report Segments:
The global Electric Vehicle Traction Motor market is segmented on the basis of:
Types
Synchronous motor, Induction motor
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Electric cars, Electric buses, Electric scooters
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- 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
- Zhongshan Broad-Ocean Motor Co. Ltd.
Highlights of The Electric Vehicle Traction Motor Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Synchronous motor
- Induction motor
- By Application:
- Electric cars
- Electric buses
- Electric scooters
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electric Vehicle Traction Motor Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An electric vehicle traction motor is a type of electric motor used to power an electric vehicle. It converts electrical energy into mechanical energy, which is then used to drive the wheels.
Some of the key players operating in the electric vehicle traction motor market are 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, Zhongshan Broad-Ocean Motor Co. Ltd..
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Electric Vehicle Traction Motor Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Electric Vehicle Traction Motor Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Electric Vehicle Traction Motor Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Electric Vehicle Traction Motor Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Electric Vehicle Traction Motor Market Size & Forecast, 2018-2028
4.5.1 Electric Vehicle Traction Motor Market Size and Y-o-Y Growth
4.5.2 Electric Vehicle Traction Motor Market Absolute $ Opportunity
Chapter 5 Global Electric Vehicle Traction Motor Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Electric Vehicle Traction Motor Market Size Forecast by Type
5.2.1 Synchronous motor
5.2.2 Induction motor
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Electric Vehicle Traction Motor Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Electric Vehicle Traction Motor Market Size Forecast by Applications
6.2.1 Electric cars
6.2.2 Electric buses
6.2.3 Electric scooters
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Electric Vehicle Traction Motor Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Electric Vehicle Traction Motor Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Electric Vehicle Traction Motor Analysis and Forecast
9.1 Introduction
9.2 North America Electric Vehicle Traction Motor Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Electric Vehicle Traction Motor Market Size Forecast by Type
9.6.1 Synchronous motor
9.6.2 Induction motor
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Electric Vehicle Traction Motor Market Size Forecast by Applications
9.10.1 Electric cars
9.10.2 Electric buses
9.10.3 Electric scooters
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Electric Vehicle Traction Motor Analysis and Forecast
10.1 Introduction
10.2 Europe Electric Vehicle Traction Motor Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Electric Vehicle Traction Motor Market Size Forecast by Type
10.6.1 Synchronous motor
10.6.2 Induction motor
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Electric Vehicle Traction Motor Market Size Forecast by Applications
10.10.1 Electric cars
10.10.2 Electric buses
10.10.3 Electric scooters
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Electric Vehicle Traction Motor Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Electric Vehicle Traction Motor Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Electric Vehicle Traction Motor Market Size Forecast by Type
11.6.1 Synchronous motor
11.6.2 Induction motor
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Electric Vehicle Traction Motor Market Size Forecast by Applications
11.10.1 Electric cars
11.10.2 Electric buses
11.10.3 Electric scooters
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Electric Vehicle Traction Motor Analysis and Forecast
12.1 Introduction
12.2 Latin America Electric Vehicle Traction Motor Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Electric Vehicle Traction Motor Market Size Forecast by Type
12.6.1 Synchronous motor
12.6.2 Induction motor
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Electric Vehicle Traction Motor Market Size Forecast by Applications
12.10.1 Electric cars
12.10.2 Electric buses
12.10.3 Electric scooters
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Electric Vehicle Traction Motor Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Electric Vehicle Traction Motor Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Electric Vehicle Traction Motor Market Size Forecast by Type
13.6.1 Synchronous motor
13.6.2 Induction motor
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Electric Vehicle Traction Motor Market Size Forecast by Applications
13.10.1 Electric cars
13.10.2 Electric buses
13.10.3 Electric scooters
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Electric Vehicle Traction Motor Market: Competitive Dashboard
14.2 Global Electric Vehicle Traction Motor Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Zhongshan Broad-Ocean Motor Co. Ltd.
14.3.2 BorgWarner Inc.
14.3.3 Robert Bosch GmbH
14.3.4 Continental AG
14.3.5 Siemens AG
14.3.6 Nidec Corporation
14.3.7 LG Electronics
14.3.8 MEIDENSHA CORPORATION
14.3.9 Jing-Jin Electric Technologies Co. Ltd.
14.3.10 Shuanglin Group
14.3.11 Zhongshan Broad-Ocean Motor Co. Ltd.
