Market Overview:
The global traction motor core market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for electric vehicles (EVs) and elevators across the globe. Additionally, the growing awareness about energy efficiency is also propelling the demand for traction motor cores globally. The global traction motor core market by type is segmented into permanent magnet motor cores and AC induction motor cores. The permanent magnet motor cores segment is expected to grow at a higher CAGR than the AC induction motor cores segment during the forecast period from 2018 to 2030. This can be attributed to their high efficiency and better performance as compared with AC induction motors cores. The global traction Motor Core Market by application is segmented into EVs, elevators, and others (including material handling equipment, agricultural equipment, etc.). The EVs segment accounted for majority of share in terms of revenue in 2017 and it is projected that this trend would continue throughout the forecast period from 2018 to 2030 owing to rising concerns about environment pollution caused by traditional internal combustion engine vehicles (ICEVs).
Product Definition:
-Traction motor core is a component of electric traction motors.
-It is used to convert electrical energy into mechanical energy that powers the train or vehicle.
-The importance of the traction motor core lies in its ability to provide a high power density and good thermal performance.
Permanent Magnet Motor Cores:
Permanent magnet motor cores are used in traction motors. They are also known as rare earth magnets or neodymium magnets. These have a high strength to weight ratio and can be easily manufactured which makes them suitable for various applications such as computers, hard disk drives, electric & hybrid vehicles and wind turbines among others.
AC Induction Motor Cores:
AC Induction Motor Core is a core used in traction motors. It helps to increase the power of traction motor by converting electrical energy into magnetic energy. The AC induction motor cores are widely used in heavy-duty applications such as construction equipment, material handling equipment and industrial machinery among others owing to their high torque output capabilities.
Application Insights:
The electric vehicle segment dominated the global traction motor core market in terms of revenue in 2017. The increasing demand for electric vehicles is expected to drive the demand for electric motors over the forecast period. Traction motors are used as prime mover for EV, which comprises single phase and three phase induction types. Increasing production of EVs is anticipated to further fuel product demand over the forecast period.
Elevator was estimated as one of the prominent application segments in 2017 and accounted for a share of 15% that year owing to its rising use across various applications such as industrial, commercial and residential buildings among others.
Regional Analysis:
Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period. The region’s growth can be attributed to increasing demand for electric vehicles in countries, such as China and Japan. In addition, rising investments in infrastructure development are expected to fuel traction motor core demand over the coming years.
Europe accounted for a significant share of global revenue in 2017 owing to high product penetration of EV in major economies including Germany and France along with other European countries. Moreover, stringent regulations regarding carbon emission by various governments are likely to boost traction motor core sales across Europe during the forecast period.
The North America market was valued at USD X million in 2017 owing to growing product adoption across end-use industries including transportation.
Growth Factors:
- Increasing demand for electric vehicles: The global market for electric vehicles is expected to grow at a CAGR of more than 14% during the forecast period. This will lead to an increase in demand for traction motors, which will in turn drive the growth of the traction motor core market.
- Growing popularity of hybrid vehicles: A number of governments are promoting the use of hybrid vehicles due to their lower emissions as compared to traditional petrol and diesel-powered cars. This is expected to drive the growth of the traction motor core market in coming years.
- Rising demand from Asia Pacific: The Asia Pacific region is currently leading the global electric vehicle market and this trend is expected to continue in future as well, owing to factors such as rising disposable income, growing population, and increasing awareness about environment-friendly technologies. This will result in an increase in demand for traction motors, thereby propelling the growth ofthe Traction Motor Core market .
- . Technological advancements: The developmentof new and innovative technologies has ledto a declinein pricesofelectricvehiclesandthisisexpectedtoresultinthedemandfortractionmotorsduringtheforecastperiod .Thiswilldrivethegrowthofthetractionmotorcoremarket .
Scope Of The Report
Report Attributes
Report Details
Report Title
Traction Motor Core Market Research Report
By Type
Permanent Magnet Motor Cores, AC Induction Motor Cores
By Application
EV, Elevator, Others
By Companies
Mitsui High-tec, Yutaka Giken, Kienle Spiess, Shiri Electromechanical Technology, Tempel Steel Co, Toyota Boshoku Corporation, Suzhou Fine-stamping, Foshan AOYA Mechanical, POSCO, Kuroda Precision
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
149
Number of Tables & Figures
105
Customization Available
Yes, the report can be customized as per your need.
Global Traction Motor Core Market Report Segments:
The global Traction Motor Core market is segmented on the basis of:
Types
Permanent Magnet Motor Cores, AC Induction Motor Cores
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
EV, Elevator, Others
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:
- Mitsui High-tec
- Yutaka Giken
- Kienle Spiess
- Shiri Electromechanical Technology
- Tempel Steel Co
- Toyota Boshoku Corporation
- Suzhou Fine-stamping
- Foshan AOYA Mechanical
- POSCO
- Kuroda Precision
Highlights of The Traction Motor Core 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:
- Permanent Magnet Motor Cores
- AC Induction Motor Cores
- By Application:
- EV
- Elevator
- Others
- 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 Traction Motor Core 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
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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?
A traction motor core is a component of electric vehicles that converts the electrical energy from the battery into mechanical power to move the vehicle.
Some of the major players in the traction motor core market are Mitsui High-tec, Yutaka Giken, Kienle Spiess, Shiri Electromechanical Technology, Tempel Steel Co, Toyota Boshoku Corporation, Suzhou Fine-stamping, Foshan AOYA Mechanical, POSCO, Kuroda Precision.
The traction motor core market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Traction Motor Core 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 Traction Motor Core Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Traction Motor Core 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 Traction Motor Core 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 Traction Motor Core Market Size & Forecast, 2020-2028
4.5.1 Traction Motor Core Market Size and Y-o-Y Growth
4.5.2 Traction Motor Core Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Permanent Magnet Motor Cores
5.2.2 AC Induction Motor Cores
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 EV
6.2.2 Elevator
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Traction Motor Core 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 Traction Motor Core 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Permanent Magnet Motor Cores
9.6.2 AC Induction Motor Cores
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 Market Size Forecast by Applications
9.10.1 EV
9.10.2 Elevator
9.10.3 Others
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Permanent Magnet Motor Cores
10.6.2 AC Induction Motor Cores
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 Market Size Forecast by Applications
10.10.1 EV
10.10.2 Elevator
10.10.3 Others
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Permanent Magnet Motor Cores
11.6.2 AC Induction Motor Cores
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 Market Size Forecast by Applications
11.10.1 EV
11.10.2 Elevator
11.10.3 Others
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Permanent Magnet Motor Cores
12.6.2 AC Induction Motor Cores
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 Market Size Forecast by Applications
12.10.1 EV
12.10.2 Elevator
12.10.3 Others
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Permanent Magnet Motor Cores
13.6.2 AC Induction Motor Cores
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) Market Size Forecast by Applications
13.10.1 EV
13.10.2 Elevator
13.10.3 Others
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 Traction Motor Core Market: Competitive Dashboard
14.2 Global Traction Motor Core Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Mitsui High-tec
14.3.2 Yutaka Giken
14.3.3 Kienle Spiess
14.3.4 Shiri Electromechanical Technology
14.3.5 Tempel Steel Co
14.3.6 Toyota Boshoku Corporation
14.3.7 Suzhou Fine-stamping
14.3.8 Foshan AOYA Mechanical
14.3.9 POSCO
14.3.10 Kuroda Precision
