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Advancements In Electric Commercial Vehicle Traction Motors Trend: A Crucial Influence on the Electric Commercial Vehicle Traction Motor Market's Transformation in 2025
Electric Commercial Vehicle Traction Motor
Rising demand for electric heavy commercial vehicles is expected to fuel the growth of the electric commercial vehicle traction motor market. These vehicles, such as trucks and buses, run on electric motors rather than internal combustion engines, offering environmental, cost, and policy support benefits. Traction motors provide essential power and torque for the efficient operation of electric heavy commercial vehicles. For instance, in July 2023, the International Energy Agency (IEA) reported that 54,000 new electric buses and 52,000 electric medium- and heavy-duty trucks were sold in China in 2022, up from 50,000 and 37,000 in 2021. The growing demand for electric heavy commercial vehicles is driving the growth of the electric commercial vehicle traction motor market.
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What Is the projected market size and growth rate for the electric commercial vehicle traction motor market?
The electric commercial vehicle traction motor market is projected to grow from $1.54 billion in 2024 to $1.89 billion in 2025, with a CAGR of 22.2%. This growth is due to government incentives for electrification, increased environmental awareness, improvements in charging infrastructure, and rising demand for sustainable transport solutions.
The electric commercial vehicle traction motor market is expected to see exponential growth, reaching $4.16 billion by 2029 with a CAGR of 21.9%. This is driven by the expansion of electric vehicle fleets by commercial logistics companies, the adoption of autonomous driving technology, and new business models such as battery swapping for commercial EVs. Trends include integration with power electronics, advanced cooling techniques, robust design standards, and integration with vehicle systems.
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What new trends are reshaping the electric commercial vehicle traction motor market and its opportunities?
Companies in the electric commercial vehicle traction motor market are focusing on compact, lightweight traction motors to improve performance, efficiency, and vehicle range. For instance, in July 2022, Mahle GmbH, a German automotive parts manufacturer, introduced the SCT E-motor, designed for electric vehicles, including passenger cars, commercial vehicles, and construction equipment. The SCT E-motor combines a permanent magnet motor design with oil cooling, enhancing robustness and performance by using waste heat from the vehicle's system.
What major market segments define the scope and growth 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
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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.
Which key market leaders are driving the electric commercial vehicle traction motor industry growth?
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
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What Is Covered In The Electric Commercial Vehicle Traction Motor Global Market Report?
•Market Size Forecast: Examine the electric commercial vehicle traction motor market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the electric commercial vehicle traction motor market for a structured understanding.
•Key Players Overview: Analyze major players in the electric commercial vehicle traction motor market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the electric commercial vehicle traction motor market.
•Segment Contributions: Evaluate how different segments drive overall growth in the electric commercial vehicle traction motor market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the electric commercial vehicle traction motor market.
•Industry Challenges: Identify potential risks and obstacles affecting the electric commercial vehicle traction motor market.
•Competitive Landscape: Review strategic developments in the electric commercial vehicle traction motor market, including expansions, agreements, and new product launches.
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