Rising Electric Vehicle Demand Drives Growth In The Automotive Traction Motor Market Driver: A Major Catalyst in the Evolution of the Automotive Traction Motor Market in 2025

How Is the Automotive Traction Motor Market Projected to Grow, and What Is Its Market Size?
The market size for automotive traction motors has witnessed a substantial increase in the recent past. The market, originally valued at $7.45 billion in 2024, is expected to swell to $8.91 billion in 2025, representing an impressive compound annual growth rate (CAGR) of 19.7%. Factors contributing to this growth during the historical period include government policies and incentives, rising demand for fuel-efficient options, increased environmental consciousness, preference for eco-friendly transport, improved accessibility and convenience of electric vehicle charging stations, and considerable investment in research, development, and production by automotive companies.

There is an expected significant uplift in the automotive traction motor market size in the forthcoming years, with projections indicating a rise to $18.04 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 19.3%. The surge during this forecasted period is likely due to more stringent global emission regulations, a decline in the cost of batteries and critical components of electric vehicles, ongoing enhancements in battery capacity and efficacy, incorporation of advanced driver-assistance systems (ADAS) in EVs, rising adoption of EVs in city mobility solutions, and escalating EV adoption in emerging markets. Upcoming trends for this period revolve around constructing more effective and compact traction motors, refining battery performance while reducing its cost, designing traction motors suitable for autonomous vehicle necessities, a focus on environmentally friendly production and recycling of motor components, and innovation of quicker and more effective charging technologies.

What Are the Key Drivers Behind the Growth of the Automotive Traction Motor Market?
The automotive traction motor market is predicted to experience growth due to the rising preference for electric vehicles. These vehicles, which use rechargeable batteries or alternative energy storage systems for propulsion, are propelled by electric motors. Factors such as environmental awareness, governmental incentives, advancements in battery technology, increasing fuel costs, and enhanced charging infrastructure are driving the demand for electric vehicles. Traction motors play a crucial role in electric vehicles by converting electric energy to mechanical motion for efficient performance. These motors offer benefits like immediate torque, regenerative braking, and improve the overall efficiency, reliability, and environmental contributions of electric vehicles. The International Energy Agency, an intergovernmental organization based in France that formulates energy policies, projects electric vehicle sales to hit 32.2 million by 2025 and escalate to 72.3 million by 2030. Therefore, it is anticipated that the growing demand for electric vehicles will boost the automotive traction motor market.

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Who Are the Major Industry Players Fueling Automotive Traction Motor Market Expansion?
Major companies operating in the automotive traction motor market are Robert Bosch GmbH, Hitachi Ltd., Siemens AG, General Electric Co., ZF Friedrichshafen AG, Continental AG, Magna International Inc., Mitsubishi Electric Corporation, ABB Ltd, Toshiba Corporation, Alstom S.A., Schaeffler Technologies AG & Co. KG, Nidec Corporation, Mahle Group, BorgWarner Inc., Dana Incorporated, Regal Beloit Corporation, Shenzhen Inovance Technology Co. Ltd, Curtiss-Wright Controls Inc., Mitsuba Corporation, CG Power and Industrial Solutions Ltd., American Traction Systems, Jing-Jin Electric Technologies Co Ltd.

Which Key Developments Are Influencing the Automotive Traction Motor Market?
Prominent firms in the automotive traction motor market are striving to enhance performance and extend vehicle range by creating innovative offerings such as magnet-free electric motors. These motors function without the use of permanent magnets, instead utilizing reluctance or induction technologies to generate motion. For example, in September 2023, ZF Friedrichshafen AG, an automotive technology company based in Germany, introduced the magnet-free I2SM (In-Rotor Inductive-Excited Synchronous Motor). The motor's magnetic field is produced by inductive excitation within the rotor, resulting in high torque and power density with no size or frictional constraints of traditional brush or slip-ring systems. Contrary to standard SESM designs, the I2SM's inductive transmitter, which is small yet powerful, is situated within the rotor shaft, leading to a reduction of up to 90 mm in axial space. This modern motor not only boosts efficiency by cutting energy transmission losses by 15%, but also dramatically reduces the production's CO2 footprint by up to 50% compared to traditional permanent-magnet synchronous motors.

How Is the Segmentation of the Automotive Traction Motor Market Defined?
The automotive traction motor market covered in this report is segmented -

1) By Motor Type: Alternating Current (AC) Induction Motors, Brushless Direct Current Motor, Permanent Magnet Synchronous Motor, Switched Reluctance Motor
2) By Power Output: Less Than 200 Kw, 200-400 kW, Above 400 kW
3) By Vehicle Type: Passenger Cars, Trucks, Buses, Pickup Trucks, Vans
4) By Electric Vehicle (EV) Type: Battery Electric Vehicle, Fuel Cell Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle

Subsegments:
1) By Alternating Current (AC) Induction Motors: Squirrel Cage Induction Motors, Wound Rotor Induction Motors, High Efficiency Ac Induction Motors, High-Torque Ac Induction Motors For Evs, Low-Speed Ac Induction Motors For City Vehicles, Ac Induction Motors With Regenerative Braking Capabilities
2) By Brushless Direct Current (BLDC) Motors: Inner Rotor Bldc Motors, Outer Rotor Bldc Motors, High-Power Bldc Motors For Performance Evs, Low-Cost And Compact Bldc Motors For Urban Mobility, Bldc Motors With Integrated Controllers For Efficiency, Water-Cooled Bldc Motors For Heavy-Duty Applications
3) By Permanent Magnet Synchronous Motors (PMSM): Surface-Mounted Pmsm, Interior Permanent Magnet (IPM) Motors, High-Speed Pmsm For Sports And Performance Vehicles, Pmsm With Integrated Power Electronics, High-Torque Density Pmsm For Commercial Evs, Pmsm For Hybrid Electric Vehicles (HEVS)
4) By Switched Reluctance Motors (SRM): Radial Switched Reluctance Motors, Axial Switched Reluctance Motors, High-Torque Srms For Heavy-Duty Evs, Low-Cost And Simple Srms For Budget Ev Models, High-Speed Switched Reluctance Motors For High-Performance Evs, Srm With Advanced Control Systems For Efficiency

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What Is the Leading Region in the Automotive Traction Motor Market?
Asia-Pacific was the largest region in the automotive traction motor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive traction motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Automotive Traction Motor Global Market Report?

- Market Size Analysis: Analyze the Automotive Traction Motor Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Traction Motor Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Traction Motor Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Traction Motor Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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