Automotive Traction Motor Market: Post COVID Growth Opportunity Analysis, ABB, American Traction Systems, Hitachi, Hyundai Rotem

According to the report, the global Automotive Traction Motor market is expected to grow from $3.26 Billion in 2020, which is expected to reach $32.28 Billion by 2028, growing at the CAGR of 33.04% from 2020 to 2028. This growth is attributed to a rise in demand for high-performance motors, favorable government policies, and subsidies. The automotive Traction Motor Market is gaining momentum owing to the rising demand for advanced and more efficient machinery & equipment. The shift in manufacturing and operational process is the major factor driving the growth of the Automotive Traction Motor Market. The major factors restraining the growth of the market are the trends towards electric vehicles. For instance, the growth in the markets for both hybrid electric vehicles and electric vehicles is expected to be hampered by the cost of the vehicles. The opportunities in the upcoming years are due to the increasing number of vehicles produced in different countries. Also, demand for vehicles with hybrid and electric engines is increasing in the market.

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The recently published research report on Global Automotive Traction Motor Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Automotive Traction Motor market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal
As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Automotive Traction Motor market report also includes the following data points:
• COVID19 Impact on Automotive Traction Motor market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in Automotive Traction Motor market

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Key Players
Some of the major Automotive Traction Motor players holding high market share include ABB, American Traction Systems, Hitachi, Hyundai Rotem. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
• ABB
• American Traction Systems
• Hitachi
• Hyundai Rotem
• CRRC
• Mitsubishi
• Siemens
• Skoda
• Toshiba
• Wabtec

Segmental Analysis
Market Segment By Type with focus on market share, consumption trend, and growth rate of Automotive Traction Motor Market:
o AC
o DC

Market Segment By Application with the focus on market share, consumption trend, and growth rate of Automotive Traction Motor Market:
o Railways
o Electric Vehicle
o Others

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Global Automotive Traction Motor Geographic Coverage:
• North America
o US
o Canada
o Mexico

• Europe
o UK
o Germany
o France
o Italy
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia Pacific

• Rest of the World
o South America
o Middle East & Africa

The Asia Pacific is the fastest-growing market for automotive traction motor market, due to a large number of industries in the region and adoption of the latest technologies.

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