Electric Vehicles Revolution Creates Opportunities for EV Traction Motors, Reveals FactMR
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
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.
11140 Rockville Pike
Rockville, MD 20852
This release was published on openPR.
Permanent link to this press release:
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: 233
More Releases from Fact.MR
Biobanking Market to Soar to US$ 3.5 Bn by 2027, Notes Fact.MR
Biobanks are a type of repository which is used in the storage of biological samples, including human and animal tissues, which primarily find use in research applications. Consequently, the process of biobanking has become a very important part of medical research and has played a major role in modern science fields such as personalized medications, and genomics. The global biobanking market is expected to grow at a healthy CAGR of ~
Mini LED Market to Expand 7.5X by 2030, Finds New Study by Fact.MR
In recent years, increasing popularity of OLED TVs in China and India has been significantly influencing growth of the mini LED market. With an increase in disposable income of a majority of the population in these countries, the inclination towards smart screens with higher lifespan and better performance is expected to open up numerous growth opportunities for the mini LED market. Moreover, aspiring and affluent households have increased their spending
Uncertainty Surrounding COVID-19 to Shave-off Growth in Electrical Steel Market …
The global electrical steel market has utilized the opportunities in the market over the last decade with sales of electrical steel pegged at US$ 20.4 Bn in 2019. However, sales are set to plummet during in the middle two quarters of 2020 owing to COVID-19. In addition, several automakers have shuttered their production units, causing incalculable loss to the electrical steel market in 2020. However, the demand of electrical steel
Medical Device Contract Manufacturing Market Set for Strong Growth, Production F …
The medical device contract manufacturing market is poised to expand at a CAGR of 11.3% during the forecast period (2020-2026). This is attributed to rapidly evolving healthcare industry and increasing adoption of technologically advanced surgical procedures. A number of original equipment manufacturers (OEMs) and contract manufacturers have been focusing on advanced technologies such as robotics, 3D-printing, and minimally invasive surgeries. Mergers & acquisition activities among leading players have greatly accelerated
More Releases for FactMR
Elevator Sales Buoyed by Pervasive Trends of Digitalization and Mixed-Use Develo …
According to a new study by FactMR, the global sales of elevators are estimated to surpass 900 thousand units in 2019. The elevators industry continues to remain influenced by various factors, which range from the resurgent growth in new residential construction, to innovative developments in modern elevator designs such as cloud predictive maintenance and intuitive technologies. The study opines that demand for elevators shows no signs of abating alongside notable
Increased Enthusiasm for Smart Tires Expected to Impact Market Proliferation, de …
FactMR has published a new study titled “Automotive Tire Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022”, which drops light on the overall market scenario prevailing in the automotive tire sector. Based on this assessment, the automotive tire market is likely to register steady growth during the forecast period until 2022. Interestingly, it is projected that the target market will acquire nearly US$ 300 billion
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