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Automotive Traction Motor Industry- Future Developments | Latest Innovation | Advance Technology | Top Companies
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The global automotive traction motor market is projected to grow at a CAGR of 33.7% from USD 4.1 billion in 2021 to USD 17.3 billion by 2026.
Top Key Players Profiled in the Automotive Traction Motor Market:
• BorgWarner Inc. (US)
• Schaeffler Group (Germany)
• Nidec Corporation (Japan)
• Robert Bosch GmbH (Germany)
• ZF Friedrichshafen AG (Germany)
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The electric vehicle industry has rapidly evolved with ongoing developments in design, features, engineering, and electric motor technologies. With the increasing stringency of government mandates regarding emissions caused by vehicles, the automotive industry is focusing on efficiency, emission-free propulsion, and innovative technologies.
“The commercial vehicles segment is expected to be the fastest segment in the forecast.”
Commercial vehicles require higher power traction motors as compared to passenger cars due to the requirement of high starting torque and overload capacity. The rising demand for and subsequent increase in the sale of commercial vehicles, impositions of stringent emission regulations with increased set limits in fuel efficiency regulations by different governments, and safety regulations have together shifted the focus of OEMs toward reducing carbon emissions from commercial vehicles.
“200-400 kW is expected to be the fastest power ouput segment in the forecast period.”
Traction motors with a power output of 200–400 kW are particularly installed in medium to heavy commercial vehicles. These motors have a high starting torque and overload capacity. As these motors are widely used in commercial vehicles such as trucks, vans, and buses, their demand is expected to increase in several countries across the Middle East, North America, and Asia Pacific, which are witnessing significant investments in EV projects.
Breakdown of primary participants’ profile:
• By Company Type: Tier I - 59%, Tier II - 7%, and OEMs - 34%
• By Designation: CXOs - 26%, Director Level - 43%, and Others - 31%
• By Region: North America - 29%, Europe - 39%, and Asia Pacific - 35%
Research Coverage:
The study covers the automotive traction motor market size and future growth potential across different segments such as by type, motor type, EV type, vehicle type, power output and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
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