This Electric Commercial Vehicle Traction Motor market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.
The electric commercial vehicle traction motor market size has grown exponentially in recent years. It will grow from $1.54 billion in 2024 to $1.89 billion in 2025 at a compound annual growth rate (CAGR) of 22.2%. The growth in the historic period can be attributed to government incentives for electrification, increasing awareness of environmental impact, improvements in charging infrastructure, and growing demand for sustainable transport solutions.
The electric commercial vehicle traction motor market size is expected to see exponential growth in the next few years. It will grow to $4.16 billion in 2029 at a compound annual growth rate (CAGR) of 21.9%. The growth in the forecast period can be attributed to the expansion of electric vehicle (EV) fleets by commercial logistics companies, the adoption of autonomous driving technology in commercial vehicles, and the emergence of new business models like battery swapping for commercial EVs. Major trends in the forecast period include integration with power electronics, development of advanced cooling techniques, implementation of robust design and testing standards, and integration with advanced vehicle systems.
The increasing demand for electric heavy commercial vehicles is expected to drive the growth of the electric commercial vehicle traction motor market. Electric heavy commercial vehicles, such as electric trucks and buses, are designed for commercial use and powered by electric motors rather than traditional internal combustion engines. The growth of these vehicles is fueled by their environmental benefits, cost efficiency, and supportive government policies. Traction motors are crucial in these electric vehicles, providing the necessary power and torque for smooth and reliable operation. For example, in July 2023, the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, reported that in 2022, China sold 54,000 electric buses and an estimated 52,000 electric medium- and heavy-duty trucks, up from 50,000 and 37,000, respectively, in 2021. Thus, the rising demand for electric heavy commercial vehicles is driving the growth of the electric commercial vehicle traction motor market.
Major companies in the electric commercial vehicle traction motor market are developing innovative solutions, such as compact and lightweight traction motors, to gain a competitive edge. These traction motors are designed to be small and light relative to their power output. For instance, in July 2022, Mahle GmbH, a German automotive parts manufacturer, launched the SCT E-motor. This traction motor is designed for various applications, including electric passenger vehicles, commercial vehicles, construction equipment, and tractors. The SCT E-motor features a permanently excited motor design with neodymium magnets in a compact unit, integrated oil cooling for enhanced robustness, and the capability to utilize waste heat within the vehicle's system. It stands out in the market due to its high ratio of continuous output to peak output, exceeding 90%, achieved through its innovative cooling system.
In November 2022, Cummins Inc., a US-based company specializing in power generation products, acquired Siemens Aktiengesellschaft for an undisclosed amount. This acquisition enables Cummins to accelerate the development of electrified power solutions for commercial vehicles by incorporating Siemens' electric drive systems, thereby strengthening its electric powertrain capabilities and furthering its strategy to achieve net-zero emissions by 2050. Siemens Aktiengesellschaft is a Germany-based technology company that offers a broad range of technology and engineering solutions.
Major companies operating in the electric commercial vehicle traction motor market are Robert Bosch GmbH, Hitachi Ltd., Siemens AG, Posco International, BYD CO.LTD, Denso Corporation, ZF Friedrichshafen AG, Continental AG, Magna International Inc., Aisin Corporation, ASEA Brown Boveri ABB, Toshiba Group, Valeo SA, Nidec Corporation, Parker Hannifin Corporation, BorgWarner Inc., Dana Limited, American Axle & Manufacturing, Allison Transmission Inc., TECO Electric And Machinery Co., Zhongshan Broad-Ocean Motor Co. Ltd., Remy Group, MAHLE GmbH, Kollmorgen, Equipmake.
Asia-Pacific was the largest region in the electric commercial vehicle traction motor market in 2024. The regions covered in the electric commercial 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 commercial vehicle traction motor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A specialized electric motor known as an electric commercial vehicle traction motor is utilized to propel commercial vehicles such as trucks and buses. Its primary function is to convert electrical energy into mechanical energy for driving the wheels of the vehicle. These motors are specifically engineered to deliver high torque and efficiency, meeting the rigorous demands of heavy-duty transportation.
Electric commercial vehicle traction motors are used in various types of vehicles including buses, trucks, and vans. Buses are designed for passenger transport, often for longer distances or within urban areas. These motors come in different configurations such as axial flux and radial flux, and they can be paired with either single-speed or multi-speed transmissions. Power outputs vary across different ranges, less than 100 kW, 100-200 kW, 200-400 kW, or above 400 kW. The types of motors commonly used include permanent magnet synchronous motors (PMSM), alternating current (AC) induction motors, and direct current (DC) traction motors.
The electric commercial vehicle traction motor market research report is one of a series of new reports that provides electric commercial vehicle traction motor market statistics, including electric commercial vehicle traction motor industry global market size, regional shares, competitors with a electric commercial vehicle traction motor market share, detailed electric commercial vehicle traction motor market segments, market trends and opportunities, and any further data you may need to thrive in the electric commercial vehicle traction motor industry. This electric commercial vehicle traction motor 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 commercial vehicle traction motor market consists of sales of power electronics, control systems, drivetrain integration solutions, and traction 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.
The electric commercial vehicle traction motor market size has grown exponentially in recent years. It will grow from $1.54 billion in 2024 to $1.89 billion in 2025 at a compound annual growth rate (CAGR) of 22.2%. The growth in the historic period can be attributed to government incentives for electrification, increasing awareness of environmental impact, improvements in charging infrastructure, and growing demand for sustainable transport solutions.
The electric commercial vehicle traction motor market size is expected to see exponential growth in the next few years. It will grow to $4.16 billion in 2029 at a compound annual growth rate (CAGR) of 21.9%. The growth in the forecast period can be attributed to the expansion of electric vehicle (EV) fleets by commercial logistics companies, the adoption of autonomous driving technology in commercial vehicles, and the emergence of new business models like battery swapping for commercial EVs. Major trends in the forecast period include integration with power electronics, development of advanced cooling techniques, implementation of robust design and testing standards, and integration with advanced vehicle systems.
The increasing demand for electric heavy commercial vehicles is expected to drive the growth of the electric commercial vehicle traction motor market. Electric heavy commercial vehicles, such as electric trucks and buses, are designed for commercial use and powered by electric motors rather than traditional internal combustion engines. The growth of these vehicles is fueled by their environmental benefits, cost efficiency, and supportive government policies. Traction motors are crucial in these electric vehicles, providing the necessary power and torque for smooth and reliable operation. For example, in July 2023, the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, reported that in 2022, China sold 54,000 electric buses and an estimated 52,000 electric medium- and heavy-duty trucks, up from 50,000 and 37,000, respectively, in 2021. Thus, the rising demand for electric heavy commercial vehicles is driving the growth of the electric commercial vehicle traction motor market.
Major companies in the electric commercial vehicle traction motor market are developing innovative solutions, such as compact and lightweight traction motors, to gain a competitive edge. These traction motors are designed to be small and light relative to their power output. For instance, in July 2022, Mahle GmbH, a German automotive parts manufacturer, launched the SCT E-motor. This traction motor is designed for various applications, including electric passenger vehicles, commercial vehicles, construction equipment, and tractors. The SCT E-motor features a permanently excited motor design with neodymium magnets in a compact unit, integrated oil cooling for enhanced robustness, and the capability to utilize waste heat within the vehicle's system. It stands out in the market due to its high ratio of continuous output to peak output, exceeding 90%, achieved through its innovative cooling system.
In November 2022, Cummins Inc., a US-based company specializing in power generation products, acquired Siemens Aktiengesellschaft for an undisclosed amount. This acquisition enables Cummins to accelerate the development of electrified power solutions for commercial vehicles by incorporating Siemens' electric drive systems, thereby strengthening its electric powertrain capabilities and furthering its strategy to achieve net-zero emissions by 2050. Siemens Aktiengesellschaft is a Germany-based technology company that offers a broad range of technology and engineering solutions.
Major companies operating in the electric commercial vehicle traction motor market are Robert Bosch GmbH, Hitachi Ltd., Siemens AG, Posco International, BYD CO.LTD, Denso Corporation, ZF Friedrichshafen AG, Continental AG, Magna International Inc., Aisin Corporation, ASEA Brown Boveri ABB, Toshiba Group, Valeo SA, Nidec Corporation, Parker Hannifin Corporation, BorgWarner Inc., Dana Limited, American Axle & Manufacturing, Allison Transmission Inc., TECO Electric And Machinery Co., Zhongshan Broad-Ocean Motor Co. Ltd., Remy Group, MAHLE GmbH, Kollmorgen, Equipmake.
Asia-Pacific was the largest region in the electric commercial vehicle traction motor market in 2024. The regions covered in the electric commercial 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 commercial vehicle traction motor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A specialized electric motor known as an electric commercial vehicle traction motor is utilized to propel commercial vehicles such as trucks and buses. Its primary function is to convert electrical energy into mechanical energy for driving the wheels of the vehicle. These motors are specifically engineered to deliver high torque and efficiency, meeting the rigorous demands of heavy-duty transportation.
Electric commercial vehicle traction motors are used in various types of vehicles including buses, trucks, and vans. Buses are designed for passenger transport, often for longer distances or within urban areas. These motors come in different configurations such as axial flux and radial flux, and they can be paired with either single-speed or multi-speed transmissions. Power outputs vary across different ranges, less than 100 kW, 100-200 kW, 200-400 kW, or above 400 kW. The types of motors commonly used include permanent magnet synchronous motors (PMSM), alternating current (AC) induction motors, and direct current (DC) traction motors.
The electric commercial vehicle traction motor market research report is one of a series of new reports that provides electric commercial vehicle traction motor market statistics, including electric commercial vehicle traction motor industry global market size, regional shares, competitors with a electric commercial vehicle traction motor market share, detailed electric commercial vehicle traction motor market segments, market trends and opportunities, and any further data you may need to thrive in the electric commercial vehicle traction motor industry. This electric commercial vehicle traction motor 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 commercial vehicle traction motor market consists of sales of power electronics, control systems, drivetrain integration solutions, and traction 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 Commercial Vehicle Traction Motor Market Characteristics3. Electric Commercial Vehicle Traction Motor Market Trends and Strategies4. Electric Commercial Vehicle Traction Motor Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, and the Recovery from COVID-19 on the Market32. Global Electric Commercial Vehicle Traction Motor Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Electric Commercial Vehicle Traction Motor Market34. Recent Developments in the Electric Commercial Vehicle Traction Motor Market
5. Global Electric Commercial Vehicle Traction Motor Growth Analysis and Strategic Analysis Framework
6. Electric Commercial Vehicle Traction Motor Market Segmentation
7. Electric Commercial Vehicle Traction Motor Market Regional and Country Analysis
8. Asia-Pacific Electric Commercial Vehicle Traction Motor Market
9. China Electric Commercial Vehicle Traction Motor Market
10. India Electric Commercial Vehicle Traction Motor Market
11. Japan Electric Commercial Vehicle Traction Motor Market
12. Australia Electric Commercial Vehicle Traction Motor Market
13. Indonesia Electric Commercial Vehicle Traction Motor Market
14. South Korea Electric Commercial Vehicle Traction Motor Market
15. Western Europe Electric Commercial Vehicle Traction Motor Market
16. UK Electric Commercial Vehicle Traction Motor Market
17. Germany Electric Commercial Vehicle Traction Motor Market
18. France Electric Commercial Vehicle Traction Motor Market
19. Italy Electric Commercial Vehicle Traction Motor Market
20. Spain Electric Commercial Vehicle Traction Motor Market
21. Eastern Europe Electric Commercial Vehicle Traction Motor Market
22. Russia Electric Commercial Vehicle Traction Motor Market
23. North America Electric Commercial Vehicle Traction Motor Market
24. USA Electric Commercial Vehicle Traction Motor Market
25. Canada Electric Commercial Vehicle Traction Motor Market
26. South America Electric Commercial Vehicle Traction Motor Market
27. Brazil Electric Commercial Vehicle Traction Motor Market
28. Middle East Electric Commercial Vehicle Traction Motor Market
29. Africa Electric Commercial Vehicle Traction Motor Market
30. Electric Commercial Vehicle Traction Motor Market Competitive Landscape and Company Profiles
31. Electric Commercial Vehicle Traction Motor Market Other Major and Innovative Companies
35. Electric Commercial Vehicle Traction Motor Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Electric Commercial 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 commercial 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.
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Description
Where is the largest and fastest growing market for electric commercial 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 commercial 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 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 Vehicle Type: Buses; Trucks; Vans2) By Design: Axial Flux; Radial Flux
3) By Transmission: Single Speed Drive; Multi-Speed Drive
4) By Power Output: Less Than 100 kW; 100-200 kW; 200-400 kW; Above 400 kW
5) By Motor Type: Permanent Magnet Synchronous Motor (PMSM); Alternating Current (AC) Induction Motor; Direct Current (DC) Traction Motor
Subsegments:
1) By Buses: City Buses; Intercity Buses; Electric School Buses; Shuttle Buses2) By Trucks: Light Duty Trucks; Medium Duty Trucks; Heavy Duty Trucks
3) By Vans: Electric Delivery Vans; Electric Passenger Vans; Electric Cargo Vans
Key Companies Mentioned: Robert Bosch GmbH; Hitachi Ltd.; Siemens AG; Posco International; BYD CO.LTD
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
The major companies featured in this Electric Commercial Vehicle Traction Motor market report include:- Robert Bosch GmbH
- Hitachi Ltd.
- Siemens AG
- Posco International
- BYD CO.LTD
- Denso Corporation
- ZF Friedrichshafen AG
- Continental AG
- Magna International Inc.
- Aisin Corporation
- ASEA Brown Boveri ABB
- Toshiba Group
- Valeo SA
- Nidec Corporation
- Parker Hannifin Corporation
- BorgWarner Inc.
- Dana Limited
- American Axle & Manufacturing
- Allison Transmission Inc.
- TECO Electric And Machinery Co.
- Zhongshan Broad-Ocean Motor Co. Ltd.
- Remy Group
- MAHLE GmbH
- Kollmorgen
- Equipmake
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 200 |
Published | April 2025 |
Forecast Period | 2025 - 2029 |
Estimated Market Value ( USD | $ 1.89 Billion |
Forecasted Market Value ( USD | $ 4.16 Billion |
Compound Annual Growth Rate | 21.9% |
Regions Covered | Global |
No. of Companies Mentioned | 25 |