Key Highlights
• Electric motors are used for many purposes, but in recent years electric traction motors have been used to drive trains, highways, subways and many other vehicles. Electric cars are expected to become more popular over time due to growing concerns about greenhouse gas emissions. Some countries and world leaders are promoting electric vehicles to reduce carbon emissions and rely on internal combustion engines. Electric motors have been used for many purposes, but in recent year’s electric traction motors have been used to drive trains, highways, subways and many other vehicles. Electric cars are expected to become more popular over time due to growing concerns about greenhouse gas emissions.
• Some countries and world leaders are promoting electric vehicles to reduce carbon emissions and rely on internal combustion engines.
• The market size of the worldwide EV Traction Motor Market surpassed USD XX billion in 2022, and by 2032, it is projected to reach USD XX billion, boosting at a CAGR of XX%.
• In August 2018, ABB has launched innovative technology for trains and locomotives in the United States and throughout Europe.
• Traction motors are critical components in electric vehicles that turn electrical energy into mechanical energy. Electric traction motors are used in electric cars to provide initial propulsion as well as rotating torque. The advancement of hybrid vehicle technology has resulted in a significant growth in the demand for traction motors. Because of their smaller size and lower weight than induction motors, electric traction motors, such as permanent magnet synchronous motors, are commonly utilized in electric cars. Government incentives, including as tax breaks and grants for residential and business infrastructure, are boosting the adoption of electric vehicles. For example, the governments of the Netherlands and Greece provide incentives for purchasing and installing household charging stations, including a tax deduction of up to 36% and a tax refund of up to 75% on expenditures related with purchasing and installing charging stations.
Scope of the Industry Profile
Key Players
• Zytek Group Limited (U.K.)
• ZF Friedrichshafen AG (Germany)
• YASA Limited (U.K.)
• Valeo (France)
• AB SKF (Sweden)
• Parker-Hannifin Corp (U.S.)
• Magnetic System Technology (U.K)
• Bharat Heavy Electricals Ltd. (India)
• ABB Ltd (Switzerland)
• CG Power & Industrial Solutions Ltd. (India)
Segmentation
By Vehicle Type
• Passenger Vehicle
• Commercial Vehicle
• Other Vehicle
By Power Rating
• Below 200 KW
• 200 KW To 400 KW
• Above 400 KW
By Propulsion Type
• Battery Electric Vehicles
• Fuel Cell Electric Vehicles
• Hybrid Electric Vehicles
By Type
• DC Brushed Motor
• DC Brushless Motor
• Induction Motor
• Permanent Magnet Synchronous Motor (PMSM)
• Switched Reluctance Motor (SRM)
What to Expect from Industry Profile
1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the EV Traction Motor market in the world.
2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global EV Traction Motor market.
3. Leading company profiles reveal details of key EV Traction Motor market players’ global operations, strategies, financial performance & their recent developments.
4. Add weight to presentations and pitches by understanding the future growth prospects of the Global EV Traction Motor market with forecast for decade by both market share (%) & revenue (USD Million).
Recent Development
• In September 2020, Nidec has launched two new tractor motor systems in the market. 200 KW new-age motor comes with a high-end electric motor and reduction gearbox.
• In July 2019, CZECH Railways, a well-known company, got a contract to deliver 300 traction motors to Skoda Subsidiary Pars Nova.
• In August 2018, ABB has launched innovative technology for trains and locomotives in the United States and throughout Europe.
• In May 2018Nidec has introduced two new tractor motor systems to the market. A high-end electric motor and reduction gearbox are included in the 200 KW new-age motor.
Segment Insights
By Type
During the forecast period, the switching reluctance motor (SRM) segment is expected to have the greatest CAGR. The low material cost of SRM is growing usage among OEMs, which is driving the growth of this category. SRM's material cost to achieve 30kW output power is roughly half that of a permanent magnet synchronous motor and less than 80% of that of an induction motor.
By Power Rating
The 100 kW to 250 kW segment is expected to exhibit the highest CAGR during the forecast period. The development of electric buses and trucks, mainly for public transport and freight services, is driving the expansion of this market. Electric vehicles generally have a power output of 100kW to 250kW and include passenger cars as well as larger vehicles such as pickup trucks, trucks and commercial vehicles. Adoption of electric vehicles is expanding due to rising fuel prices and government initiatives to reduce emissions from buses and trucks, both contributing to the growth of this market.
Regional Insights
The North America’s significant actions to address rising sea levels and GHG emissions have resulted in an increase in the usage of electric automobiles. Countries such as Canada, Brazil, and Mexico are also altering their energy policy in order to boost clean energy sources. Furthermore, the construction of railway networks and metros is predicted to fuel the growth of the electric traction motor market. Electric vehicle prices have been reduced as a result of technological advancements and ongoing research and development in electric automobiles. European countries are embracing e-mobility in an effort to combat rising carbon emissions. Germany, the United Kingdom, Italy, and Spain, among others, are increasingly interested in promoting e-mobility across the area. Furthermore, Europe is home to some of the world's most recognized automakers who are firmly committed to the e-mobility business, which may push the electric traction motor market in Europe. The need for e-mobility is being driven by urbanization and industrialisation in growing countries such as China, India, Japan, Indonesia, and Southeast Asia. The implementation of government measures to promote e-mobility is expected to stimulate demand for EVs. India and China have the world's largest railway networks, and they plan to invest heavily in metro transportation in the next years, which might boost demand for electric traction motors in Asia Pacific.
1 INTRODUCTION
1.1 Study Objectives
1.2 Market Definitions
1.2.1 Inclusions & Exclusions
1.2.2 Region: Inclusions & Exclusions
1.2.3 Study Scope
1.2.3.1 Markets Covered
1.2.3.2 Regional Scope
1.2.3.3 Years Considered
1.2.4 Currency Considered
1.2.5 Limitations
1.2.6 Summary Of Report (Chapter Wise Summary)
2 RESEARCH METHODOLOGY
2.1 Research Data
2.1.1 Secondary & Primary Research
2.1.2 Secondary Data
2.1.2.1 Secondary Sources
2.1.3 Primary Data
2.1.3.1 Primary Sources
2.2 Market Breakdown & Data Triangulation
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Research Assumptions & Limitations
2.4.1 Assumptions
2.4.2 Limitations
3 EXECUTIVE SUMMARY
4 ACROSS THE GLOBE
4.1 Upcoming Attractive Market Opportunities
4.2 Country Wise Market Growth
4.3 Segment Wise Market Growth
5 MARKET OVERVIEW
5.1 Market Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 PORTOR’S Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
5.4 Market Premium insights (Enterprise license)
5.4.1 Case Study Analysis
5.4.2 Country Wise Import & Export Data (If
Applicable)
5.4.3 Regulatory Bodies & Authorization
Across the Globe
5.4.4 Key Conferences & Events: 2022 &
2023
5.4.5 Top Patents for The Market: 2022
6 EV TRACTION MOTOR MARKET OVERVIEW,
BY VEHICLE TYPE
6.1 Global Market Revenue & Share Analysis, By Vehicle Type
6.1.1 Passenger Vehicle
6.1.2 Commercial Vehicle
6.1.3 Other Vehicle
6.2 Global Market Revenue & Share Analysis, 2018 – 2022
6.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
6.4 Key Takeaways
7 EV TRACTION MOTOR MARKET OVERVIEW,
BY POWER RATING
7.1 Global Market Revenue & Share Analysis, By Power Rating
7.1.1 Below 200 KW
7.1.2 200 KW To 400 KW
7.1.3 Above 400 KW
7.2 Global Market Revenue & Share Analysis, 2018 – 2022
7.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
7.4 Key Takeaways
8 EV TRACTION MOTOR MARKET OVERVIEW,
BY PROPULSION TYPE
8.1 Global Market Revenue & Share Analysis, By Propulsion
Type
8.1.1 Battery Electric Vehicles
8.1.2 Fuel Cell Electric Vehicles
8.1.3 Hybrid Electric Vehicles
8.2 Global Market Revenue & Share Analysis, 2018 – 2022
8.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
8.4 Key Takeaways
9 EV TRACTION MOTOR
MARKET OVERVIEW, BY TYPE
9.1 Global Market Revenue & Share Analysis, By Type
9.1.1 DC Brushed Motor
9.1.2 DC Brushless Motor
9.1.3 Induction Motor
9.1.4 Permanent Magnet Synchronous Motor (PMSM)
9.1.5 Switched Reluctance Motor (SRM)
9.2 Global Market Revenue & Share Analysis, 2018 – 2022
9.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
9.4 Key Takeaways
10 EV TRACTION MOTOR MARKET OVERVIEW, BY
REGION
10.1 Global Market Revenue & Share Analysis, By Region
10.1.1 North America
10.1.2 Europe
10.1.3 Asia Pacific
10.1.4 Middle East & Africa
10.1.5 South America
10.2 Global Market Revenue & Share Analysis, 2018 – 2022
10.3 Global Market Revenue & Share Forecast Analysis, 2023 –
2032
10.4 Key Takeaways
11 NORTH AMERICA MARKET
ANALYSIS
11.1 North America Market Revenue & Share Analysis, By Vehicle
Type
11.2 North America Market Revenue & Share Analysis, By Power
Rating
11.3 North America Market Revenue & Share Analysis, By
Propulsion Type
11.4 North America Market Revenue & Share Analysis, By Type
11.5 North America Market Revenue & Share Analysis, By Country
11.5.1 US
11.5.2 Canada
11.5.3 Mexico
11.6 Key Takeaways
12 EUROPE MARKET ANALYSIS
12.1 Europe Market Revenue & Share Analysis, By Vehicle Type
12.2 Europe Market Revenue & Share Analysis, By Power Rating
12.3 Europe Market Revenue & Share Analysis, By Propulsion Type
12.4 Europe Market Revenue & Share Analysis, By Type
12.5 Europe Market Revenue & Share Analysis, By Country
12.5.1 UK
12.5.2 Italy
12.5.3 Spain
12.5.4 Germany
12.5.5 France
12.5.6 Rest of Europe
12.6 Key Takeaways
13 ASIA PACIFIC MARKET ANALYSIS
13.1 APAC Market Revenue & Share Analysis, By Vehicle Type
13.2 APAC Market Revenue & Share Analysis, By Power Rating
13.3 APAC Market Revenue & Share Analysis, By Propulsion Type
13.4 APAC Market Revenue & Share Analysis, By Type
13.5 APAC Market Revenue & Share Analysis, By Country
13.5.1 China
13.5.2 Japan
13.5.3 India
13.5.4 South Korea
13.5.5 Rest of APAC
13.6 Key Takeaways
14 MIDDLE EAST & AFRICA MARKET
ANALYSIS
14.1 MEA Market Revenue & Share Analysis, By Vehicle Type
14.2 MEA Market Revenue & Share Analysis, By Power Rating
14.3 MEA Market Revenue & Share Analysis, By Propulsion Type
14.4 MEA Market Revenue & Share Analysis, By Type
14.5 MEA Market Revenue & Share Analysis, By Country
14.5.1 GCC
14.5.2 South Africa
14.5.3 Rest of MEA
14.6 Key Takeaways
15 SOUTH AMERICA MARKET ANALYSIS
15.1 SA Market Revenue & Share Analysis, By Vehicle Type
15.2 SA Market Revenue & Share Analysis, By Power Rating
15.3 SA Market Revenue & Share Analysis, By Propulsion Type
15.4 SA Market Revenue & Share Analysis, By Type
15.5 SA Market Revenue & Share Analysis, By Country
15.5.1 Brazil
15.5.2 Argentina
15.5.3 Rest of SA
15.6 Key Takeaways
16 COMPETITIVE SCENARIO
16.1 Overview
16.2 Key Players Market Share Analysis
16.3 Recent Developments & Product Launches
16.4 Mergers & Acquisitions
16.5 Partnerships, Agreements & Collaborations
17 COMPANY PROFILES
17.1 Overview
17.2 Key players
17.2.1 Zytek Group Limited (U.K.)
17.2.1.1 Business Overview
17.2.1.2 Product Offered
17.2.1.3 Financial Insights
17.2.1.4 Strategic Developments
17.2.1.4.1 New Product Launches
17.2.1.4.2 Agreements & Collaborations
17.2.1.5 Business Aspects (NOISE Analysis)
17.2.1.5.1 Key Strengths
17.2.1.5.2 Opportunities
17.2.1.5.3 Weaknesses & Competitive Threats
17.2.1.5.4 Needs & Improvements
17.2.2 ZF Friedrichshafen AG (Germany)
17.2.3 YASA Limited (U.K.)
17.2.4 Valeo (France)
17.2.5 AB SKF (Sweden)
17.2.6 Parker-Hannifin Corp (U.S.)
17.2.7 Magnetic System Technology (U.K)
17.2.8 Bharat Heavy Electricals Ltd. (India)
17.2.9 ABB Ltd (Switzerland)
17.2.10 CG Power & Industrial Solutions Ltd.
(India)
18 DISCLAIMER
19 APPENDIX
