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Electric Vehicle Traction Motor Market Report 2025

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    Report

  • 200 Pages
  • March 2025
  • Region: Global
  • The Business Research Company
  • ID: 5939239
The electric vehicle traction motor market size has grown exponentially in recent years. It will grow from $12.62 billion in 2024 to $18.01 billion in 2025 at a compound annual growth rate (CAGR) of 42.7%. The growth in the historic period can be attributed to increased sales of hybrid electric vehicles (HEVs), a rise in disposable income, a rise in focus on electric vehicles, and a surge in urbanization.

The electric vehicle traction motor market size is expected to see exponential growth in the next few years. It will grow to $69.06 billion in 2029 at a compound annual growth rate (CAGR) of 39.9%. The growth in the forecast period can be attributed to the expansion of railway networks, strict environmental regulations and emission requirements, and an increasing demand for energy-efficient motors. Major trends in the forecast period include a focus on sustainability of the entire EV (electric vehicle) supply chain, including the production and disposal of EV traction motors, adoption of rare-earth-free motors, partnerships and collaborations, new and innovative motor designs and technologies, and increasing investments to improve financial strength and product portfolio.

The electric vehicle traction motor market is anticipated to experience growth propelled by the increased sales of hybrid electric vehicles. Hybrid electric vehicles, integrating internal combustion engines with electric propulsion systems, are witnessing rapid sales growth, contributing to heightened demand for traction motors, integral components in these vehicles. For instance, in February 2022, the U.S. electric vehicle market recorded sales of 59,664 hybrid vehicles, marking a 10.2% increase from February 2021, with 15,763 cars and 43,801 light trucks. Toyota held a significant 63.7% share of total hybrid sales in February, with the Prius model accounting for 3.9% of hybrid vehicle sales. The upward trend in hybrid electric vehicle sales is expected to drive the demand for electric vehicle traction motors in the forecast period.

Stringent environmental regulations and emission requirements are poised to be key drivers for the growth of the electric vehicle traction motor market. Global efforts to reduce emissions and address climate change are leading governments to implement regulations mandating lower-emission vehicles from automakers. Electric vehicles, with their zero tailpipe emissions, are gaining popularity in response to these regulations. The traction motor, a crucial component in electric vehicles, experiences heightened demand as the adoption of electric vehicles increases. In 2022, the U.S. Environmental Protection Agency (EPA) approved guidelines for new vehicle emissions through 2026, resulting in an anticipated reduction of 3.1 billion tons of CO2 emissions by 2050. Furthermore, the U.S. government aims for 50% of all new vehicles produced in 2030 to be electric or plug-in hybrid versions. Consequently, the escalating environmental regulations and more stringent emission requirements are expected to drive demand for electric vehicles and their components, including electric vehicle traction motors.

Leading companies in the electric vehicle traction motor market are concentrating on developing new technologies, such as innovative energy-efficient motor and inverter packages, to improve overall vehicle performance and efficiency. Energy-efficient motor and inverter packages are integrated systems designed for electric vehicles, combining a high-performance electric motor with a corresponding inverter that optimally manages electrical power conversion. For example, in May 2023, ABB Ltd., a Switzerland-based technology company specializing in electrification and automation, launched an innovative energy-efficient motor and inverter package specifically designed for electric buses, which includes the AMXE250 motor and the HES580 inverter. This new propulsion system features the first 3-level inverter created specifically for buses, resulting in up to 12% fewer motor losses and a significant reduction in harmonic losses by up to 75% compared to traditional 2-level inverters. The AMXE250 motor is noted for its high torque density and quieter operation, enhancing both dynamic performance and passenger comfort. This advanced technology not only improves energy efficiency but also extends the lifespan and reliability of the entire electric drivetrain.

A noteworthy trend in the electric vehicle traction motor market is the increasing adoption of rare-earth-free motors. These motors operate without relying on rare-earth metals, such as neodymium and dysprosium, which are commonly used in the production of permanent magnets - an essential component in many electric vehicle traction motors. The shift towards rare-earth-free EV traction motors is driven by a growing awareness of the volatility and geopolitical factors affecting the supply of rare-earth metals. Manufacturers are actively exploring alternative materials and designs to reduce dependence on rare-earth metals. For instance, in July 2022, MAHLE, a Germany-based automotive parts manufacturer, launched a high-performance electric vehicle traction motor featuring a novel cooling technique. Notably, this electric motor is manufactured without the use of rare earth elements, offering a clean, lightweight, and efficient solution to meet the evolving demands of the electric vehicle market.

In September 2024, WEG Industries, a Brazil-based company that produces and sells electric and electronic equipment, acquired Volt Electric Motors in an effort to diversify its product offerings in the industrial and commercial electric motor market. This acquisition will enable access to key regional markets, including Eastern Europe, the Middle East, Central Asia, and North Africa. Volt Electric Motors is a Turkey-based manufacturer of industrial and commercial electric motors.

Major companies operating in the electric vehicle traction motor market include Siemens, ABB Limited, Hitachi Ltd, CRRC Corporation Limited, AB SKF, Robert Bosch GMBH, Mitsubishi Motors Corporation, Parker-Hannifin Corp, Bharat Heavy Electricals Ltd, Nidec Corporation, Kawasaki Heavy Industries Ltd, Ametek Inc, Mitsubishi Electric Corporation, CG Power & Industrial Solutions Ltd, Toshiba Corporation, Alstom Logo, EUROLOOP Ltd, Born Electric, GarageStore, Continental AG, Ford Motor Company, Fiat Chrysler Automobiles, Nissan, Rivian Automotive, VIA Motors, Chevrolet, Lucid, WEG, Eberle Motors, Voges Motors, Nova Motores, Cestari Industrial e Comercial S.A, Tintori Motores Elétricos, Motomil Motores Elétricos, Taizhou Dongchun Motor Co. Ltd, Iconiq Motors, One Moto, MG Motor, M Glory Holding Group, General Electric.

Asia-Pacific was the largest region in the electric vehicle traction motor market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the electric vehicle traction motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric vehicle traction motor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

An electric vehicle traction motor is responsible for driving the wheels of a vehicle, converting electrical energy into mechanical energy to propel the vehicle beyond aerodynamic drag, rolling resistance drag, and kinetic resistance.

The primary types of electric vehicle traction motors include permanent-magnet synchronous EV traction motors (PSM) and asynchronous EV traction motors (ASM). PSMs excel in torque-to-current ratios, power-to-weight ratios, efficiency, and robustness, making them widely used in modern variable-speed AC drives. Electric vehicle traction motors are categorized based on voltage ratings, including high-voltage EV traction motors and low-voltage EV traction motors. These traction motors find application in various vehicle types, such as hybrid vehicles, battery electric vehicles, and fuel-cell electric vehicles. They are utilized in diverse applications, including railways, passenger and commercial vehicles, and other automotive applications.

The electric vehicle traction motors market research report is one of a series of new reports that provides electric vehicle traction motors market statistics, including electric vehicle traction motors industry global market size, regional shares, competitors with an electric vehicle traction motors market share, detailed electric vehicle traction motors market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle traction motors industry. This electric vehicle traction motors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The electric vehicle traction motor market consists of sales of DC motors, brushless DC motors, permanent magnet synchronous motors, three-phase induction motors, and switched reluctance motors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.

Table of Contents

1. Executive Summary2. Electric Vehicle Traction Motor Market Characteristics3. Electric Vehicle Traction Motor Market Trends and Strategies4. Electric Vehicle Traction Motor Market - Macro Economic Scenario including the impact of Interest Rates, Inflation, Geopolitics and Covid and Recovery on the Market
5. Global Electric Vehicle Traction Motor Growth Analysis and Strategic Analysis Framework
5.1. Global Electric Vehicle Traction Motor PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
5.2. Analysis of End Use Industries
5.3. Global Electric Vehicle Traction Motor Market Growth Rate Analysis
5.4. Global Electric Vehicle Traction Motor Historic Market Size and Growth, 2019-2024, Value ($ Billion)
5.5. Global Electric Vehicle Traction Motor Forecast Market Size and Growth, 2024-2029, 2034F, Value ($ Billion)
5.6. Global Electric Vehicle Traction Motor Total Addressable Market (TAM)
6. Electric Vehicle Traction Motor Market Segmentation
6.1. Global Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Permanent Magnet Synchronous EV Traction Motors (PMSM)
  • Asynchronous EV Traction Motors (ASM)
6.2. Global Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • High Voltage EV Traction Motors
  • Low Voltage EV Traction Motors
6.3. Global Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Hybrid Vehicles
  • Battery Electric Vehicles
  • Fuel Cell Electric Vehicles
6.4. Global Electric Vehicle Traction Motor Market, Segmentation by Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Railways
  • Passenger and Commercial Vehicles
  • Other Applications
6.5. Global Electric Vehicle Traction Motor Market, Sub-Segmentation of Permanent Magnet Synchronous EV Traction Motors (PMSM), by Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Surface-Mounted PMSM
  • Interior Permanent Magnet (IPM) Motors
6.6. Global Electric Vehicle Traction Motor Market, Sub-Segmentation of Asynchronous EV Traction Motors (ASM), by Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
  • Induction Motors
  • Squirrel Cage Motors
7. Electric Vehicle Traction Motor Market Regional and Country Analysis
7.1. Global Electric Vehicle Traction Motor Market, Split by Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
7.2. Global Electric Vehicle Traction Motor Market, Split by Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
8. Asia-Pacific Electric Vehicle Traction Motor Market
8.1. Asia-Pacific Electric Vehicle Traction Motor Market Overview
  • Region Information, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
8.3. Asia-Pacific Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
8.4. Asia-Pacific Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
9. China Electric Vehicle Traction Motor Market
9.1. China Electric Vehicle Traction Motor Market Overview
9.2. China Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion
9.3. China Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion
9.4. China Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F,$ Billion
10. India Electric Vehicle Traction Motor Market
10.1. India Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
10.2. India Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
10.3. India Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
11. Japan Electric Vehicle Traction Motor Market
11.1. Japan Electric Vehicle Traction Motor Market Overview
11.2. Japan Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
11.3. Japan Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
11.4. Japan Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
12. Australia Electric Vehicle Traction Motor Market
12.1. Australia Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
12.2. Australia Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
12.3. Australia Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
13. Indonesia Electric Vehicle Traction Motor Market
13.1. Indonesia Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
13.2. Indonesia Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
13.3. Indonesia Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
14. South Korea Electric Vehicle Traction Motor Market
14.1. South Korea Electric Vehicle Traction Motor Market Overview
14.2. South Korea Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
14.3. South Korea Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
14.4. South Korea Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
15. Western Europe Electric Vehicle Traction Motor Market
15.1. Western Europe Electric Vehicle Traction Motor Market Overview
15.2. Western Europe Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
15.3. Western Europe Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
15.4. Western Europe Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
16. UK Electric Vehicle Traction Motor Market
16.1. UK Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
16.2. UK Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
16.3. UK Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
17. Germany Electric Vehicle Traction Motor Market
17.1. Germany Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
17.2. Germany Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
17.3. Germany Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
18. France Electric Vehicle Traction Motor Market
18.1. France Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
18.2. France Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
18.3. France Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
19. Italy Electric Vehicle Traction Motor Market
19.1. Italy Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
19.2. Italy Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
19.3. Italy Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
20. Spain Electric Vehicle Traction Motor Market
20.1. Spain Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
20.2. Spain Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
20.3. Spain Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
21. Eastern Europe Electric Vehicle Traction Motor Market
21.1. Eastern Europe Electric Vehicle Traction Motor Market Overview
21.2. Eastern Europe Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
21.3. Eastern Europe Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
21.4. Eastern Europe Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
22. Russia Electric Vehicle Traction Motor Market
22.1. Russia Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
22.2. Russia Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
22.3. Russia Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
23. North America Electric Vehicle Traction Motor Market
23.1. North America Electric Vehicle Traction Motor Market Overview
23.2. North America Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
23.3. North America Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
23.4. North America Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
24. USA Electric Vehicle Traction Motor Market
24.1. USA Electric Vehicle Traction Motor Market Overview
24.2. USA Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
24.3. USA Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
24.4. USA Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
25. Canada Electric Vehicle Traction Motor Market
25.1. Canada Electric Vehicle Traction Motor Market Overview
25.2. Canada Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
25.3. Canada Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
25.4. Canada Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
26. South America Electric Vehicle Traction Motor Market
26.1. South America Electric Vehicle Traction Motor Market Overview
26.2. South America Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
26.3. South America Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
26.4. South America Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
27. Brazil Electric Vehicle Traction Motor Market
27.1. Brazil Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
27.2. Brazil Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
27.3. Brazil Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
28. Middle East Electric Vehicle Traction Motor Market
28.1. Middle East Electric Vehicle Traction Motor Market Overview
28.2. Middle East Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
28.3. Middle East Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
28.4. Middle East Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
29. Africa Electric Vehicle Traction Motor Market
29.1. Africa Electric Vehicle Traction Motor Market Overview
29.2. Africa Electric Vehicle Traction Motor Market, Segmentation by Motor Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
29.3. Africa Electric Vehicle Traction Motor Market, Segmentation by Voltage Ratings, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
29.4. Africa Electric Vehicle Traction Motor Market, Segmentation by Vehicle Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
30. Electric Vehicle Traction Motor Market Competitive Landscape and Company Profiles
30.1. Electric Vehicle Traction Motor Market Competitive Landscape
30.2. Electric Vehicle Traction Motor Market Company Profiles
30.2.1. Siemens Overview, Products and Services, Strategy and Financial Analysis
30.2.2. ABB Limited Overview, Products and Services, Strategy and Financial Analysis
30.2.3. Hitachi Ltd Overview, Products and Services, Strategy and Financial Analysis
30.2.4. CRRC Corporation Limited Overview, Products and Services, Strategy and Financial Analysis
30.2.5. AB SKF Overview, Products and Services, Strategy and Financial Analysis
31. Electric Vehicle Traction Motor Market Other Major and Innovative Companies
31.1. Robert Bosch GMBH
31.2. Mitsubishi Motors Corporation
31.3. Parker-Hannifin Corp
31.4. Bharat Heavy Electricals Ltd
31.5. Nidec Corporation
31.6. Kawasaki Heavy Industries Ltd
31.7. Ametek Inc
31.8. Mitsubishi Electric Corporation
31.9. CG Power & Industrial Solutions Ltd
31.10. Toshiba Corporation
31.11. Alstom Logo
31.12. EUROLOOP Ltd
31.13. Born Electric
31.14. GarageStore
31.15. Continental AG
32. Global Electric Vehicle Traction Motor Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Electric Vehicle Traction Motor Market34. Recent Developments in the Electric Vehicle Traction Motor Market
35. Electric Vehicle Traction Motor Market High Potential Countries, Segments and Strategies
35.1 Electric Vehicle Traction Motor Market in 2029 - Countries Offering Most New Opportunities
35.2 Electric Vehicle Traction Motor Market in 2029 - Segments Offering Most New Opportunities
35.3 Electric Vehicle Traction Motor Market in 2029 - Growth Strategies
35.3.1 Market Trend-based Strategies
35.3.2 Competitor Strategies
36. Appendix
36.1. Abbreviations
36.2. Currencies
36.3. Historic and Forecast Inflation Rates
36.4. Research Inquiries
36.5. About the Analyst
36.6. Copyright and Disclaimer

Executive Summary

Electric Vehicle Traction Motor Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on electric vehicle traction motor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase:

  • Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
  • Assess the impact of key macro factors such as conflict, pandemic and recovery, inflation and interest rate environment and the 2nd Trump presidency.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis
  • Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.

Description

Where is the largest and fastest growing market for electric vehicle traction motor? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electric vehicle traction motor market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
  • The forecasts are made after considering the major factors currently impacting the market. These include:
  • The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
  • Market segmentations break down the market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

1) By Motor Type: Permanent Magnet Synchronous EV Traction Motors (PMSM), Asynchronous EV Traction Motors (ASM)
2) By Voltage Ratings: High Voltage EV Traction Motors, Low Voltage EV Traction Motors
3) By Vehicle Type: Hybrid Vehicles, Battery Electric Vehicles, Fuel Cell Electric Vehicles
4) By Application: Railways, Passenger and Commercial Vehicles, Other Applications

Subsegments:

1) By Permanent Magnet Synchronous EV Traction Motors (PMSM): Surface-Mounted PMSM; Interior Permanent Magnet (IPM) Motors
2) By Asynchronous EV Traction Motors (ASM): Induction Motors; Squirrel Cage Motors

Key Companies Mentioned: Siemens; ABB Limited; Hitachi Ltd; CRRC Corporation Limited; AB SKF

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.

Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery Format: PDF, Word and Excel Data Dashboard.

Companies Mentioned

  • Siemens
  • ABB Limited
  • Hitachi Ltd
  • CRRC Corporation Limited
  • AB SKF
  • Robert Bosch GMBH
  • Mitsubishi Motors Corporation
  • Parker-Hannifin Corp
  • Bharat Heavy Electricals Ltd
  • Nidec Corporation
  • Kawasaki Heavy Industries Ltd
  • Ametek Inc
  • Mitsubishi Electric Corporation
  • CG Power & Industrial Solutions Ltd
  • Toshiba Corporation
  • Alstom Logo
  • EUROLOOP Ltd
  • Born Electric
  • GarageStore
  • Continental AG
  • Ford Motor Company
  • Fiat Chrysler Automobiles
  • Nissan
  • Rivian Automotive
  • VIA Motors
  • Chevrolet
  • Lucid
  • WEG
  • Eberle Motors
  • Voges Motors
  • Nova Motores
  • Cestari Industrial e Comercial S.A
  • Tintori Motores Elétricos
  • Motomil Motores Elétricos
  • Taizhou Dongchun Motor Co. Ltd
  • Iconiq Motors
  • One Moto
  • MG Motor
  • M Glory Holding Group
  • General Electric

Table Information