COVID-19 impact on the growth of Electric Vehicle Traction Motor Market

The EV (electric vehicle) traction engine transforms electrical energy into mechanical energy to drive the vehicle, roll resistance drag, and curb kinetic resistance. Traction engine refers to an electrical engine type. To make rotational torque on a computer, a traction motor is used. Typically a straight-line move is transformed. In electrically driven rail vehicles, such as multiple electric units and electric locomotives, traction engines are used. They can also be used in electric vehicles like floats, elevators, and conveyors for electric milk-gas-powered cars such as diesel-electric locomotives, hybrid electric vehicles, or electric vehicles powered by batteries.

Check out How COVID-19 impact on the Electric Vehicle Traction Motor Market. Click here to Speak with Analyst @ https://www.researchdive.com/connect-to-analyst/180

1 Benefits

Electric plug-in vehicles are linked, enjoyable, and convenient (also known as electric vehicles). You can also save money and reduce pollution. Electric fueling provides a range of benefits in traditional internal combustion motor vehicles that are not available. As electric motors respond quickly, electric motors are highly responsive and have a strong torque. EVs are also digitally interconnected with a wide range of EV charge stations to power the charger from a smartphone device. Like a smartphone, when you get home, you can plug in your EV and get it ready for use the next morning. As the electric grid is almost available everywhere, there are a number of charging options: at home, on the road, and at work. You may never have to go back to the gas station by paying sometimes!

Rise in the use of electric vehicle is predicted to drive the growth of electric vehicle traction motor market @ https://www.researchdive.com/purchase-enquiry/180

2 Porter's Five Forces Analysis for Electric Vehicle Traction Motor Market:

o Bargaining Power of Suppliers: The switching cost from one supplier to another is projected to be low.The bargaining power of suppliers is very low.

o Bargaining Power of Consumers: In this market, the concentration of buyers is low as the price of the product is very high. The bargaining power of consumers is low.

o The threat of New Entrants: Huge initial investments are essential to start a new electric vehicle traction motor. The threat of new entrants is high.

o The threat of Substitutes: This market has numerous alternatives of products;moreover, technology alsooffers high switching costs for clients.The threat of substitutes is high.

o Competitive Rivalry in the Market: The electric vehicle traction motor markethas only major players to sell their products and it becomes difficult for small and medium enterprises and local manufacturer to get into the market. The competitive rivalry in the industry is high.

3 Opportunities

Asia Pacific was the biggest Electric Vehicle traction motor market in 2018, with the growth projected to increase steadily over the predicted time frame. It is attributable to the construction by business leaders of the area of manufacturing facilities. Because of the easy availability of raw materials and labor in the world, China has been shown to begin operations in the most significant production facilities. In the past decade, the Chinese government has invested more than $50 billion on electric cars and the manufacture of components. In order to raise demand for EVs, the Chinese government has also raised the permits for traditional vehicles.

4 Electric Vehicle Traction Motor Market Segmentation by Vehicle Type

o BEV
o PHEV

Battery electric vehicle segment type accounted for $1,050.9 million in 2018 and is predicted to grow with a CAGR of 39.6% in the forecast period @ https://www.researchdive.com/download-sample/180

5 Recent Developments

Franklin Electric took ownership of Western Hydro Holding Corporation, 2 M Company Inc., and Drillers Service Inc. in 2017. The three ground water distributors represent ground water practitioners in the United States under the name Headwater Firms. On January 3, 2018, Valley Farms Supply, a distributor of groundwaters operating at two sites in the State of Michigan, was announced by the company.

Allied Motion is that in its own countries and through strategic acquisitions and plans to be an international provider of advanced motion control products in its selected segments of the market. Heidrive was purchased by the firm, for US$ 22 million in 2016, by a German engineering group. Allied Motion purchased in January 2018 all assets related to Maval Industries 'original system management company. Rolls

6 Key Players

o Magnetic Systems Technology
o Robert Bosch GmbH
o Copper Rotor Induction Motor
o RETORQ Motors Ltd.
o AVID Technology Limited
o SERVAX
o Hitachi Automotive Systems Americas, Inc.
o Equipmake Ltd.
o Zytek Group

Get Access to Full Report (TOC, Figures, Chart, etc.) @ https://www.researchdive.com/180/electric-vehicle-traction-motor-market

Royce, Siemens, and Airbus have formed a collaboration for a short time flight demonstration, which will represent a significant move forward for commercial aircraft in hybrid-electric propulsion.
The company aims at redesigning electric motor technology for electric vehicles from the ground up. In addition, Siemens has recently partnered with the French multi-country Alstom (including railway traction) to merge its mobility business with Alstom.

Contact us:
Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York
NY 10005 (P)
+ 91 (788) 802-9103 (India)
+1 (917) 444-1262 (US)
Toll Free: +1-888-961-4454
E-mail: support@researchdive.com
LinkedIn: https://www.linkedin.com/company/research-dive/
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive-1385542314927521
Blog: https://www.researchdive.com/blog
Follow us: https://marketinsightinformation.blogspot.com/

About Us:
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

This release was published on openPR.