Transforming the Electric Commercial Vehicle Traction Motor Market in 2025: Electric Heavy Commercial Vehicles Fuel Growth In Traction Motor Market

What Is the Expected Size and Growth Rate of the Electric Commercial Vehicle Traction Motor Market?
In recent years, the market size for traction motors in electric commercial vehicles has seen a massive uptick. The market's size is slated to climb from $1.54 billion in 2024 to $1.89 billion in 2025, increasing at a compound annual growth rate (CAGR) of 22.2%. Factors which have contributed to this growth during the historic period include governmental electrification incentives, increased awareness about the environment, improvements in the charging infrastructure, and a rise in demand for sustainable means of transportation.

The market for traction motors in electric commercial vehicles is projected to witness significant expansion in the forthcoming years, reaching a value of $4.16 billion by 2029 with a compound annual growth rate (CAGR) of 21.9%. This growth during the predicted period can be linked to efforts by commercial logistics firms to increase their electric vehicle (EV) fleets, the incorporation of autonomous driving technology into commercial vehicles, and the introduction of innovative business strategies like battery swapping for commercial EVs. Power electronics integration, the advent of advanced cooling methods, the adoption of sturdy design and testing norms, and the fitting of advanced vehicle systems are the key trends anticipated for this period.

What Are the Key Drivers Behind the Growth of the Electric Commercial Vehicle Traction Motor Market?
The anticipated expansion of the electric commercial vehicle traction motor market is likely to be fuelled by the increasing demand for electric heavy commercial vehicles. Primarily intended for commercial uses, electric heavy commercial vehicles refer to substantial vehicles like trucks and buses, which are driven by electric motors instead of traditional internal combustion engines. These vehicles are gaining popularity due to their environmental friendliness, cost-effectiveness, and the backing of government policies. Traction motors, which provide the essential power and torque for efficient performance, are vital components of these electric heavy commercial vehicles. To exemplify, the International Energy Agency (IEA), an autonomous intergovernmental organization based in France, reported in July 2023 that there were 54,000 new electric buses and approximately 52,000 electric medium- and heavy-duty trucks sold in China in 2022, constituting an increase from the 50,000 and 37,000 sold in 2021 respectively. Hence, the rising preference for electric heavy commercial vehicles is fueling the growth of the electric commercial vehicle traction motor market.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16403&type=smp

Which Leading Companies Are Shaping the Growth of the Electric Commercial Vehicle Traction Motor Market?
Major companies operating in the electric commercial vehicle traction motor market are Robert Bosch GmbH, Hitachi Ltd., Siemens AG, Posco International, BYD CO.LTD, Denso Corporation, ZF Friedrichshafen AG, Continental AG, Magna International Inc., Aisin Corporation, ASEA Brown Boveri ABB, Toshiba Group, Valeo SA, Nidec Corporation, Parker Hannifin Corporation, BorgWarner Inc., Dana Limited, American Axle & Manufacturing, Allison Transmission Inc., TECO Electric And Machinery Co., Zhongshan Broad-Ocean Motor Co. Ltd., Remy Group, MAHLE GmbH, Kollmorgen, Equipmake

What Are the Major Trends Shaping the Electric Commercial Vehicle Traction Motor Market?
Leading businesses in the electric commercial vehicle traction motor market are pushing the envelope by developing cutting-edge solutions like compact and weight-efficient traction motors, in order to ensure a competitive advantage. These motors are meticulously designed to provide notable power output despite their small size and reduced weight. In an instance from July 2022, the Germany-based auto parts manufacturer Mahle GmbH introduced the SCT E-motor. It's a traction motor engineered for use in electric passenger cars, commercial vehicles, construction machinery and tractors. The SCT E-motor marries a permanently excited motor design with neodymium magnets packed in a condensed unit, featuring integrated oil cooling to boost its resilience and allow for the implementation of waste heat into the overall vehicular system. The SCT E-motor distinguishes itself in the marketplace due to a remarkably high continuous to peak output ratio, surpassing 90%. This outstanding performance results from an innovative integrated oil cooling system that not only strengthens the motor's endurance, but also facilitates waste heat usage across the entire vehicular system.

What Are the Key Segments of the Electric Commercial Vehicle Traction Motor Market?
The electric commercial vehicle traction motor market covered in this report is segmented -

1) By Vehicle Type: Buses, Trucks, Vans
2) By Design: Axial Flux, Radial Flux
3) By Transmission: Single Speed Drive, Multi-Speed Drive
4) By Power Output: Less Than 100 kW, 100-200 kW, 200-400 kW, Above 400 kW
5) By Motor Type: Permanent Magnet Synchronous Motor (PMSM), Alternating Current (AC) Induction Motor, Direct Current (DC) Traction Motor

Subsegments:
1) By Buses: City Buses, Intercity Buses, Electric School Buses, Shuttle Buses
2) By Trucks: Light Duty Trucks, Medium Duty Trucks, Heavy Duty Trucks
3) By Vans: Electric Delivery Vans, Electric Passenger Vans, Electric Cargo Vans

Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/electric-commercial-vehicle-traction-motor-global-market-report

Which Region Dominates the Electric Commercial Vehicle Traction Motor Market?
Asia-Pacific was the largest region in the electric commercial vehicle traction motor market in 2024. The regions covered in the electric commercial vehicle traction motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Electric Commercial Vehicle Traction Motor Global Market Report?

- Market Size Analysis: Analyze the Electric Commercial Vehicle Traction Motor Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electric Commercial Vehicle 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 Electric Commercial Vehicle Traction Motor Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electric Commercial Vehicle Traction Motor Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=16403

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.