EV Traction Motor Market Top Key Players - Siemens AG, Nidec Corporation, Hitachi Automotive Systems, Ltd., Toshiba Corporation, Tesla Motors, Inc., Toyota Industries Corporation, LG Electronics, Hyundai Mobis Co.,Ltd, Remy International (BorgWarner Inc),

The global EV traction motor market is estimated at $3.1 Billion in 2020 and will grow to $7.5 Billion in 2025.

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GLOBAL EV TRACTION MOTOR MARKET DYNAMICS

• VW will build 8 MEB plants by 2022, 2 of which will be located in China and 5 in Europe. This is to actively expand BEV's production capacity to supply electric vehicles to Europe and China, which account for 83% of their sales, as well as MEB platforms for potential OEM buyers such as Ford. All vehicles on the MEB platform will be equipped with a PMSM engine.

• GM's EV strategy is to maintain customer engagement by expanding customer choice and infrastructure development. The R&D budget is currently spent more on electric vehicles than on ICE, including batteries, as opposed to other OEMs and their promised volumes (VW Group, Daimler Group). GM has launched the Ultium platform, which will consist of three types of drives, rear-wheel drive, front-wheel drive and four-wheel drive. The platform will be based on PMSM engines.

COMPETITIVE LANDSCAPE

• The Global EV Traction Motor Market is currently consolidated due to long-term OEM Supplier contracts and the significant share of internal production in all regions except Europe.

• In November 2020, the MAHLE Group announced the Commission from a test bench for electrical hard drives in the city of Stuttgart, Germany. The company has a sanctioned investment worth 3.5 million US dollars for the test center. The equipment is used to test and develop Errite and Ehaxles for a series of hybrid and electric vehicles. The plant comprises an eager unit consisting of two opposite charged loading machines with permanent synchronous motors of the magnet. In February 2020, the ABB company signed a contract with Chittaranjan locomotives to provide you with a value of 26 million US dollar tractions.

NEW PRODUCT DEVELOPMENT RECENT TREND IN EV TRACTION MOTOR MARKET

• In August 2021, Siemens is building a bipolar electric motor with an efficiency of over 98% for the Chinese company. The company will also supply the start-up frequency converter.

• In May 2021, Mahle, based in Germany, began developing a new magnetic-free electric motor that does not require the use of rare earth materials. The main feature of the motor will be the inductance, which ensures contactless power transmission with an efficiency of over 95%.

• In February 2021, the Schaeffler Group announced that it would develop and produce a hybrid electric vehicle powertrain that will consist of two electric motors and a transmission with an integrated power electronics unit. They will start development in 2024.

COMPANY PROFILES
• Siemens AG
• Nidec Corporation
• Hitachi Automotive Systems, Ltd.
• Toshiba Corporation
• Tesla Motors, Inc.
• Toyota Industries Corporation
• LG Electronics
• Hyundai Mobis Co.,Ltd
• Remy International (BorgWarner Inc)
• Zhongshan Broad-ocean Motor Co., Ltd
• BYD Co Ltd
• Nissan Motors
• Mahle Group

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