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Automotive Traction Motor Market worth $22.74 billion by 2030, growing at a CAGR of 16.40% - Exclusive Report by 360iResearch
Automotive Traction Motor Market | 360iResearch
The Global Automotive Traction Motor Market to grow from USD 7.85 billion in 2023 to USD 22.74 billion by 2030, at a CAGR of 16.40%.
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Automotive traction motors are electric motors that are used to propel electric and hybrid vehicles. These motors convert electrical energy into mechanical energy, facilitating the movement of vehicles. This market's scope includes various types of traction motors, such as alternating current (AC) induction motors, permanent magnet synchronous motors (PMSMs), and direct current (DC) motors. The application of these motors spans a myriad of vehicle types, including passenger cars, heavy commercial vehicles, and light commercial vehicles, as well as two-wheelers and three-wheelers that are equipped with electric drive capabilities. Stringent environmental regulations and increased awareness about greenhouse gas emissions are propelling the demand for electric vehicles, subsequently increasing the demand for traction motors. Additionally, the availability of government incentives for EV manufacturers and buyers further incentivizes the growth of the traction motor market. High initial costs associated with electric motors and related technologies hinder market growth. Growing development of lightweight and more efficient traction motors with rising initiatives for the refurbishment and recycling of old motors for sustainable practices are expected to create opportunities for market growth.
The ongoing government initiatives and investments for electric vehicle manufacturing with expanding manufacturing hubs in the American region promote the enormous demand for the automotive traction motors market. Rising consumer awareness toward electric vehicles also encourages the adoption of lightweight and heavy electric vehicle components, creating the need for automotive traction motors in South America. The European Union is at the forefront of electrifying transportation, with stringent emissions regulations and aggressive targets for EV deployment. Subsidies and incentives, along with high fuel prices, have made electric vehicles an attractive option for consumers. This has translated to a boosted demand for innovative traction motor technologies, with numerous EU-funded projects focused on the optimization of electric powertrains. In the Middle East, the market for automotive traction motors is emergent, with countries such as the United Arab Emirates (UAE) and Saudi Arabia investing in smart cities with integrated EV technologies. The traction motor market in Africa is nascent, with several countries in the early stages of EV adoption. The Asia-Pacific region is witnessing rapid growth in the automotive traction motors market due to the growing automotive manufacturing and increasing sales of vehicles with electrified features acting as a key differentiator for defining the luxury and comfort level.
Market Segmentation & Coverage:
This research report categorizes the Automotive Traction Motor Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Motor Type, market is studied across AC Induction Motors, Brushless Direct Current Motor, Permanent Magnet Synchronous Motor, and Switched Reluctance Motor. The AC Induction Motors is projected to witness significant market share during forecast period.
Based on Power Output, market is studied across 200-400 KW, Above 400 KW, and Less than 200 KW. The Less than 200 KW is projected to witness significant market share during forecast period.
Based on EV Type, market is studied across Battery Electric Vehicle, Fuel Cell Electric Vehicle, Hybrid Electric Vehicle, and Plug-in Hybrid Electric Vehicle. The Plug-in Hybrid Electric Vehicle is projected to witness significant market share during forecast period.
Based on Vehicle Type, market is studied across Commercial Vehicles and Passenger Cars. The Commercial Vehicles is further studied across Buses, Trucks, and Vans. The Commercial Vehicles is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 35.73% in 2023, followed by Asia-Pacific.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Automotive Traction Motor Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Automotive Traction Motor Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Automotive Traction Motor Market, highlighting leading vendors and their innovative profiles. These include Aisin Corporation, Bharat Heavy Electricals Ltd, BorgWarner Inc., BYD CO.LTD, Continental AG, Denso Corporation, Eaton Corporation PLC, Equipmake Ltd, GKN Automotive Limited, Jing-Jin Electric Technologies Co., Ltd., Johnson Electric Holdings Limited, Magna International Inc., MAHLE GmbH, Mitsuba Corp., Nidec Corporation, Parker Hannifin Corporation, Robert Bosch GmbH, Schaeffler AG, Shanghai Edrive Co., Ltd., Shenzhen Inovance Technology Co. Ltd., Shuanglin Group Co., Ltd., SKF AB, Tesla Inc., Valeo Group, and ZF Friedrichshafen AG.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Automotive Traction Motor Market, by Motor Type
7. Automotive Traction Motor Market, by Power Output
8. Automotive Traction Motor Market, by EV Type
9. Automotive Traction Motor Market, by Vehicle Type
10. Americas Automotive Traction Motor Market
11. Asia-Pacific Automotive Traction Motor Market
12. Europe, Middle East & Africa Automotive Traction Motor Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Automotive Traction Motor Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Automotive Traction Motor Market?
3. What is the competitive strategic window for opportunities in the Automotive Traction Motor Market?
4. What are the technology trends and regulatory frameworks in the Automotive Traction Motor Market?
5. What is the market share of the leading vendors in the Automotive Traction Motor Market?
6. What modes and strategic moves are considered suitable for entering the Automotive Traction Motor Market?
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About 360iResearch
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