openPR Logo
Press release

Electric Vehicles Revolution Creates Opportunities for EV Traction Motors, Reveals FactMR

04-08-2019 02:53 PM CET | Industry, Real Estate & Construction

Press release from: Fact.MR

Electric Vehicles Revolution Creates Opportunities for EV

According to the latest study by FactMR, global demand of EV traction motor is estimated to exceed US$ 6,000 Mn in 2019, up from US$ 5,391.9 Mn in 2018. Sales of electric vehicles and hybrid electric vehicles, upheld by a host of technological features and claims of optimal performance, are likely to boost growth of EV traction motor market in 2019 and beyond. In addition, increasing regulations and norms put in place for effective emission controls are working in favor of hybrid and electric vehicles, paving lucrative avenues for growth of EV traction motor market.

Governmental schemes to incentivize and subsidize owners of electric vehicles is a key aspect underpinning growth of EV traction motor market. Most of these incentives and subsidies include tax exemptions, tax credits, concessions, and additional benefits, which play a vital role in exerting positive influence on customer decision-making. The EV traction motor industry is likely to benefit from these incentives with regard to revenue generation, finds the report.

Request For a Sample Report- https://www.factmr.com/connectus/sample?flag=S&rep_id=336

Automakers Prefer EV Traction Motors with High Voltage Ratings

According to the research study, energy efficacy is emerging as one of the focal points of automakers, on account of its importance in reducing of greenhouse emissions. High voltages provide a healthy boost to the efficiency levels, which is a primary reason for automakers preferring motors of high voltage ratings over the ones with low voltage ratings. Both electric and hybrid electric vehicles are based on high voltage battery systems, which implies that high voltage levels would be required for generation of sufficient power to run the vehicles. Moreover, motors with high voltage ratings have wirings that are relatively uncomplicated and lighter, which continues to be a key benefit for the automakers. The global sales of high voltage EV traction motors are estimated to exceed US$ 3,700 Mn in 2019, estimates the FactMR study.

North America Continues to be Most Attractive Market for EV Traction Motor

As per the report, North America continues to be the largest market for EV traction motors, with sales estimated to exceed US$ 1,700 Mn in 2019. Increasing adoption of commercial as well as passenger cars is likely to support growth of North America EV traction motor market. Rising number of promotional initiatives by the governing authorities in this region is supporting adoption of electric and hybrid electric vehicles in this region, creating revenue-generating opportunities for companies operating in the EV traction motor market.

Browse Full Report on EV Traction Motor Market with In-depth TOC- https://www.factmr.com/report/336/ev-traction-motor-market

Manufacturers Focus on Value Proposition via Incorporation of Advanced Technologies

Manufacturers operating in the EV traction motor market, with an aim to edge out the competition, are adopting differential strategies, unveils the report. Leading companies operating in the EV traction motor market are collaborating with leading automakers planning electric vehicle rollouts to amplify their profitability. The EV traction motor industry is also focusing on reliability, which is a key selling point in the automotive space, as a crucial element to build up brand equity and control the warranty costs. Companies are enhancing the versatility of their offerings, which would help the EV traction motors deliver flawless performances under extreme conditions. Key considerations, such as hard-duty cycles, vibration, temperature, and others, are taken into account by the manufacturers to ensure best-quality products.  

The FactMR report identifies key opportunities in the global EV traction motor market during the assessment period of 2017 to 2026. As per the report, the EV traction motor market is anticipated to grow at a CAGR of over 13% during through 2026.

To Buy EV Traction Motor Market Report, Check- https://www.factmr.com/checkout/336/S

About FactMR

FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

Contact Us

FactMR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Web: https://www.factmr.com/

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Electric Vehicles Revolution Creates Opportunities for EV Traction Motors, Reveals FactMR here

News-ID: 1693344 • Views: 296

More Releases from Fact.MR

Uncaria Tomentosa Market 2021, COVID-19 Impact on Leading Vendors: Now Foods, Na …
The New Report "Uncaria Tomentosa Market" published by Fact.MR, covers the competitive landscape analysis and its growth prospects over the coming years. An in-depth study of some new and prominent industry trends, analysis of engagement, and regional analysis that is very detailed have been included in the report of the Uncaria Tomentosa market for the analysis period of 2021 – 2031. Get In-depth Insights Request for Sample here: https://www.factmr.com/connectus/sample?flag=B&rep_id=2073 Through the
Tangerine Extract Market Development, Market Trends, Key Driven Factors, Segment …
The New Report "Tangerine Extract Market" published by Fact.MR, covers the competitive landscape analysis and its growth prospects over the coming years. An in-depth study of some new and prominent industry trends, analysis of engagement, and regional analysis that is very detailed have been included in the report of the Tangerine Extract market for the analysis period of 2021 – 2031. Get In-depth Insights Request for Sample here: https://www.factmr.com/connectus/sample?flag=B&rep_id=2057 Through the
Vanilla Extract Market Analysis Along With Research Report 2021 to 2031 | McCorm …
The New Report "Vanilla Extract Market" published by Fact.MR, covers the competitive landscape analysis and its growth prospects over the coming years. An in-depth study of some new and prominent industry trends, analysis of engagement, and regional analysis that is very detailed have been included in the report of the Vanilla Extract market for the analysis period of 2021 – 2031. Get In-depth Insights Request for Sample here: https://www.factmr.com/connectus/sample?flag=B&rep_id=2053 Through the
Find Out why Thyme extract Market is thriving worldwide by top key players like: …
The New Report "Thyme extract Market" published by Fact.MR, covers the competitive landscape analysis and its growth prospects over the coming years. An in-depth study of some new and prominent industry trends, analysis of engagement, and regional analysis that is very detailed have been included in the report of the Thyme extract market for the analysis period of 2021 – 2031. Get In-depth Insights Request for Sample here: https://www.factmr.com/connectus/sample?flag=B&rep_id=2052 Through the

All 5 Releases


More Releases for FactMR

Structured Cabling Market: Higher network bandwidth coupled with penetration of …
Rapidly rising demand for higher network bandwidth coupled with remarkable penetration of 5G technology has skyrocketed the popularity of structured cabling significantly in the past years. Structured cabling is highly supportive for future upgrades, and has the perks of reduced installation time, cabling bulk, and congestion. As such, demand for structured cabling from the IT & telecommunication, commercial, industrial, and other industries is surging. According to Fact.MR, the global structured
4 Key Insights of Gym Gloves Market : FactMR
A sedentary modern-day lifestyle has given rise to many health issues such as diabetes, hypertension, and obesity that have become imperative for the global community to urgently tackle. People have become well-aware of this and have begun exercising at the gym in earnest. However, not all of them wear gym gloves because they are sometimes thought to be an additional unnecessary expense. A number of customers may not even be
Horehound Supplements Sales Sustained by Regulatory Amendments Advocating their …
According to new FactMR study, worldwide sales of horehound supplements are estimated to surpass 6,200 tons in 2019. The horehound supplements industry continues to be influenced by a slew of factors, ranging from growing consumer inclination towards botanical nutraceutical supplements to R&D investments in exploring the application scope of various traditional herbs. The study assesses the horehound supplements market in detail, and offers an analysis of the macroeconomic and industry-specific
Aluminum Alloy Metal Delivers Innovative Scope to Bolster Automotive Metal Wheel …
According to this meticulously compiled research study published by FactMR, the status of automotive metal wheel market stands dubious. Fluctuations in consumer trends together with swelling demand for light weight wheels is restricting the global market expansion. In order to confer additional market factors, readers can access the research report titled “Automotive Metal Wheel Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022”, added to the broad
Agriculture Sprayer Sales Surge as Cognitive Solutions and Precision Equipment G …
A recent study published by FactMR estimates the agricultural sprayer sales to surpass 3 million units by 2020. The study finds that technological transformations and digitization of the agriculture industry, along with demand for new tools and production methods, will remain key to growth of the agricultural sprayers industry. Request Here For a Free Sample Report - https://www.factmr.com/connectus/sample?flag=S&rep_id=3476 According to the study, leading manufacturers are adopting cognitive technologies to meet growing end-user
Penetration of Smart Technologies in Automotive Pumps Market Continues to Surge, …
According to FactMR’s new business intelligence report, the global automotive pumps market is anticipated to register a promising growth during the period 2017-2026, with market revenues likely to surpass US$ 54 billion by 2019-end. Growing consumer preference for green technology, along with the need to adhere to stringent carbon and VOC emission regulations, are encouraging automotive manufacturers to focus on enhancing energy performance of vehicles. With their crucial role in