Press release
Electric Vehicle Traction Motor Market - Detailed Analysis of Current Industry Figures with Forecasts Growth By 2024
Electric Vehicle Traction Motor Market Overview:
The global electric vehicle (EV) traction motor market is expected to witness significant growth during the forecast period. The market is driven by increasing government initiatives on electric vehicle adoption, increasing focus on expanding electric vehicle charging infrastructure, and growing preference for electrification of the public fleet. Electric vehicles are equipped with an electric motor for propulsion of the vehicle. These vehicles can be classified into battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV). BEV is a zero-emission vehicle that purely runs on a battery and electric traction motor without an internal combustion engine (ICE). The battery can be plugged in and recharged from an external energy source. PHEV is equipped with two propulsion modes, i.e., drive motor and internal combustion engine (ICE). When the battery is high, the vehicle runs on the drive motor and when the battery is low, the vehicle runs on ICE.
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Competitive Analysis & Key Vendors
The global electric vehicle traction motor market is expected to 30.9% during the forecast period 2018β2024. The report contains an in-depth analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategies, and views; and competitive landscape.
Few of the Electric Vehicle Traction Motor Market key players profiled in this study include
Zhongshan Broad-Ocean Motor Co. Ltd.
BorgWarner Inc.
Robert Bosch GmbH
Continental AG
Siemens AG
Nidec Corporation
LG Electronics
MEIDENSHA CORPORATION
Jing-Jin Electric Technologies Co. Ltd.
Shuanglin Group
Regional Analysis
The Asia Pacific region is dominating in the global EV traction market followed by Europe. In terms of revenue, Asia Pacific accounted for more than 60% share and is projected to remain dominant during the forecast period. This is mainly due to the expanding electric vehicle charging infrastructure and increasing government initiatives, such as NEV policy in China. The report also covers country-wise analysis of the electric vehicle traction motor market across various regions including the Americas, Europe, Asia Pacific, and Middle East & Africa (MEA).
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Electric Vehicle Traction Motor Market by Motor Type
Synchronous motor
Induction motor
Electric Vehicle Traction Motor Market by Motor Capacity
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