Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Traction Motor Market by Type (AC Induction Motor, Permanent Magnet Motor, Other Types), By Application (Passenger cars, Commercial vehicles, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Traction Motor Market by Type (AC Induction Motor, Permanent Magnet Motor, Other Types), By Application (Passenger cars, Commercial vehicles, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 156118 3300 Machinery & Equipment 377 249 Pages 4.7 (35)

Market Overview:

The global traction motor market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for electric and hybrid vehicles across the globe. Additionally, government initiatives towards promoting electric and hybrid vehicles are also contributing to the growth of this market. The global traction motor market is segmented on the basis of type, application, and region. On the basis of type, it is divided into AC induction motors, permanent magnet motors, and other types such as switched reluctance motors (SRMs) and synchronous reluctance motors (SRMs). The AC induction motor segment dominates this market owing to its high efficiency levels as compared to other types of traction motors available in the market.

Global Traction Motor Industry Outlook

Product Definition:

A traction motor is a type of electric motor used for propulsion of a vehicle, such as an electric car, electric train, or electric tram.

AC Induction Motor:

AC Induction Motor, also called as the Synchronous Flux Motor (SFM), is a type of electric motor used in traction equipment. It has an induction mechanism where the magnetic field produced by the rotor causes electrical currents to flow in the stator windings which are then amplified and forced into different parts of the rotor resulting in torque production. The main characteristic that makes ACI different from standard DC motors is its ability to operate at higher speeds with low power consumption.

Permanent Magnet Motor:

Permanent magnet motor (PMM) is a type of electric motor that uses magnetic fields for the movement of particles through electrical energy. These motors are generally used in traction applications, such as railway vehicles and heavy equipment. The permanent magnet design provides high torque at low speeds, which makes them well-suited for applications where speed is not an important factor.

Application Insights:

The global traction motor market has been segmented into passenger cars, commercial vehicles and others. The commercial vehicles segment held the largest share in 2017. Increasing demand for diesel engines across the globe is one of the major factors driving this growth. Commercial vehicle applications include trucks, tractors, buses and coaches among other heavy-duty vehicles such as tankers and container carriers.

Traction motors are used in various applications such as electric locomotives, trolleybuses or light rail systems among others to provide additional power for moving these heavy loads at a higher speed with greater efficiency than conventional steam or diesel locomotive systems can achieve. Electric multiple units (EMUs) are also known as metro trains that use traction motors to provide additional power for doors operation along with other functions such as door opening & closing assistance when required by law or railway regulations concerning doors operations on trains running on fixed rails without pantographs.

Regional Analysis:

Asia Pacific is anticipated to be the fastest growing regional market with a CAGR of XX% from 2018 to 2030 owing to increasing demand for passenger cars and commercial vehicles in countries such as China, India, South Korea, and Japan. Furthermore, rising disposable income coupled with government initiatives encouraging people to use public transport is expected to have a positive impact on the industry growth over the forecast period.

Europe accounted for more than 25% of global revenue in 2017 due to stringent emission norms implemented by governments across European countries such as Germany and U.K., which forced manufacturers operating within these regions adopt advanced technologies resulting into higher traction motor production volumes within Europe region during the forecast period.

Growth Factors:

  • Increasing demand for electric and hybrid vehicles
  • Growing popularity of renewable energy sources
  • Rising concerns over environmental pollution
  • Proliferation of internet-of-things (IoT) and smart technologies
  • Development of advanced traction motor technologies

Scope Of The Report

Report Attributes

Report Details

Report Title

Traction Motor Market Research Report

By Type

AC Induction Motor, Permanent Magnet Motor, Other Types

By Application

Passenger cars, Commercial vehicles, Others

By Companies

BYD, ZF, Nissan, Continental AG, Meidensha, Broad-Ocean, Jing-Jin Electric Technologies, BMW, BOSCH, Fukuta, Dajun Tech, Hitachi Automotive Systems, Remy International, Magna, Deyang Electrics, Greatland Electrics

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


Customization Available

Yes, the report can be customized as per your need.

Global Traction Motor Market Report Segments:

The global Traction Motor market is segmented on the basis of:


AC Induction Motor, Permanent Magnet Motor, Other Types

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.


Passenger cars, Commercial vehicles, 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:

  1. BYD
  2. ZF
  3. Nissan
  4. Continental AG
  5. Meidensha
  6. Broad-Ocean
  7. Jing-Jin Electric Technologies
  8. BMW
  9. BOSCH
  10. Fukuta
  11. Dajun Tech
  12. Hitachi Automotive Systems
  13. Remy International
  14. Magna
  15. Deyang Electrics
  16. Greatland Electrics

Global Traction Motor Market Overview

Highlights of The Traction Motor Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. AC Induction Motor
    2. Permanent Magnet Motor
    3. Other Types
  1. By Application:

    1. Passenger cars
    2. Commercial vehicles
    3. Others
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the 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
  • Identifying Appropriate Advertising Appeals

Global Traction Motor Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?

A traction motor is a type of electric motor that is used to power vehicles or machinery. It works by using the force of an electric current to create a rotating motion.

Some of the major players in the traction motor market are BYD, ZF, Nissan, Continental AG, Meidensha, Broad-Ocean, Jing-Jin Electric Technologies, BMW, BOSCH, Fukuta, Dajun Tech, Hitachi Automotive Systems, Remy International, Magna, Deyang Electrics, Greatland Electrics.

The traction motor market is expected to grow at a compound annual growth rate of 5.5%.

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Traction Motor Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Traction Motor Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Traction Motor Market - Supply Chain
   4.5. Global Traction Motor Market Forecast
      4.5.1. Traction Motor Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Traction Motor Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Traction Motor Market Absolute $ Opportunity

5. Global Traction Motor Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Traction Motor Market Size and Volume Forecast by Type
      5.3.1. AC Induction Motor
      5.3.2. Permanent Magnet Motor
      5.3.3. Other Types
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Traction Motor Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Traction Motor Market Size and Volume Forecast by Application
      6.3.1. Passenger cars
      6.3.2. Commercial vehicles
      6.3.3. Others
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Traction Motor Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Traction Motor Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Traction Motor Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Traction Motor Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Traction Motor Demand Share Forecast, 2019-2026

9. North America Traction Motor Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Traction Motor Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Traction Motor Market Size and Volume Forecast by Application
      9.4.1. Passenger cars
      9.4.2. Commercial vehicles
      9.4.3. Others
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Traction Motor Market Size and Volume Forecast by Type
      9.7.1. AC Induction Motor
      9.7.2. Permanent Magnet Motor
      9.7.3. Other Types
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Traction Motor Demand Share Forecast, 2019-2026

10. Latin America Traction Motor Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Traction Motor Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Traction Motor Market Size and Volume Forecast by Application
      10.4.1. Passenger cars
      10.4.2. Commercial vehicles
      10.4.3. Others
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Traction Motor Market Size and Volume Forecast by Type
      10.7.1. AC Induction Motor
      10.7.2. Permanent Magnet Motor
      10.7.3. Other Types
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Traction Motor Demand Share Forecast, 2019-2026

11. Europe Traction Motor Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Traction Motor Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Traction Motor Market Size and Volume Forecast by Application
      11.4.1. Passenger cars
      11.4.2. Commercial vehicles
      11.4.3. Others
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Traction Motor Market Size and Volume Forecast by Type
      11.7.1. AC Induction Motor
      11.7.2. Permanent Magnet Motor
      11.7.3. Other Types
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Type
   11.10. Market Atractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Traction Motor Demand Share, 2019-2026

12. Asia Pacific Traction Motor Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Traction Motor Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Traction Motor Market Size and Volume Forecast by Application
      12.4.1. Passenger cars
      12.4.2. Commercial vehicles
      12.4.3. Others
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Traction Motor Market Size and Volume Forecast by Type
      12.7.1. AC Induction Motor
      12.7.2. Permanent Magnet Motor
      12.7.3. Other Types
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Traction Motor Demand Share, 2019-2026

13. Middle East & Africa Traction Motor Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Traction Motor Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Traction Motor Market Size and Volume Forecast by Application
      13.4.1. Passenger cars
      13.4.2. Commercial vehicles
      13.4.3. Others
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Traction Motor Market Size and Volume Forecast by Type
      13.7.1. AC Induction Motor
      13.7.2. Permanent Magnet Motor
      13.7.3. Other Types
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Traction Motor Demand Share, 2019-2026

14. Competition Landscape
   14.1. Global Traction Motor Market: Market Share Analysis
   14.2. Traction Motor Distributors and Customers
   14.3. Traction Motor Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. BYD Overview Financials Developments Strategic Outlook
      14.4.2. ZF Overview Financials Developments Strategic Outlook
      14.4.3. Nissan Overview Financials Developments Strategic Outlook
      14.4.4. Continental AG Overview Financials Developments Strategic Outlook
      14.4.5. Meidensha Overview Financials Developments Strategic Outlook
      14.4.6. Broad-Ocean Overview Financials Developments Strategic Outlook
      14.4.7. Jing-Jin Electric Technologies Overview Financials Developments Strategic Outlook
      14.4.8. BMW Overview Financials Developments Strategic Outlook
      14.4.9. BOSCH Overview Financials Developments Strategic Outlook
      14.4.10. Fukuta Overview Financials Developments Strategic Outlook
      14.4.11. Dajun Tech Overview Financials Developments Strategic Outlook
      14.4.12. Hitachi Automotive Systems Overview Financials Developments Strategic Outlook
      14.4.13. Remy International Overview Financials Developments Strategic Outlook
      14.4.14. Magna Overview Financials Developments Strategic Outlook
      14.4.15. Deyang Electrics Overview Financials Developments Strategic Outlook
      14.4.16. Greatland Electrics Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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