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Electric Passenger Car Traction Motor Market Growth 2027 – Key drivers, Business insights, Trends and Major

10-23-2020 09:46 PM CET | Energy & Environment

Press release from: Allied Market Research

Electric Passenger Car Traction Motor Market

Electric Passenger Car Traction Motor Market

Traction motor produces resistance between two surfaces with or without using electricity. An electric passenger car traction motor is a vital component which is used for extracting electricity from the battery pack. Traction motor is installed in electric passenger vehicles to provide rotation torque for the movement of the car. Furthermore, stringent emission discharge norms and regulations drives the demand for electric passenger car. Moreover, quick expansion of EV charging structure, decline in EV prices due to government provided subsidies & reduced price of battery, accessibility to ultra-fast chargers, and anticipated restrictions over fuel-powered vehicles further fuel the demand for EVs. Therefore, rise in demand for electric vehicle is expected to drive the market growth for global electric passenger car traction motor.

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Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa

Companies covered

The major players analyzed include ABB, Zhongshan Broad-Ocean Motor Co. Ltd., BorgWarner Inc., Robert Bosch AG, Siemens AG, Toshiba Group, ZF Group, Continental AG, Remy Group, and Valeo SA.

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Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

Rise in adoption of electric vehicles, increase in demand for effective power renovation, and non-stable prices of crude oil drive the growth of the global market. However, overheating of EV traction motors and fluctuating prices of input components are expected to hamper the growth of the market. On the contrary, designing better speed estimator creates favorable condition for the adoption of electric vehicles, which provides lucrative opportunity for the market growth.

The global electric passenger car traction motor market trends are as follows:

Rise in adoption of electric vehicles

Adoption of electric passenger car is growing rapidly worldwide. For instance, according to international energy agency (IEA), in 2018, 5.1 million electric cars were operating globally. Furthermore, electric vehicles emit no greenhouse gases and no air pollutants when compared with a petrol or diesel vehicle. Rapid expansion of electric vehicle charging infrastructure, battery technology enhancements, and rise in vehicle emission norms & the subsidies provided by the government drive the adoption of electric vehicles worldwide. Therefore, rise in adoption of electric vehicles is expected to boost the growth of electric passenger car traction motor market.

Overheating of electric passenger vehicle traction motor

Due to the friction generated by the traction motor, a huge amount of electrical overload is caused to the mechanical equipment. Furthermore, excessive heat causes rapid deterioration and failure of the traction motor. For instance, Robert Bosch have qualified almost 60% of passenger vehicle motor and failure are caused by overheating. Therefore, rise in overheating of electric passenger vehicle traction motor is anticipated to hamper the market growth for electric passenger car traction motor market in the near future.

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Key benefits of the report:

1 This study presents the analytical depiction of the electric passenger car traction motor industry along with the current trends and future estimations to determine the imminent investment pockets.
2 The report presents information related to key drivers, restraints, and opportunities along with challenges of the electric passenger car traction motor market.
3 The current market is quantitatively analyzed from 2019 to 2027 to highlight the electric passenger car traction motor market growth scenario.
4 We can also determine electric passenger car traction motor will remain a significant revenue shareholder in the global electric passenger car traction motor market through the predictable future.

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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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