Press release
Surging Demand For Electric Vehicles Fuels Growth In The Electric Traction Motor Market: An Emerging Driver Transforming The Electric Traction Motor Market Landscape
Electric Traction Motor
What Is the Projected Growth of the Electric Traction Motor Market?
In the past few years, the market size of the electric traction motor has expanded expeditiously. The growth projections indicate a rise from $19.79 billion in 2024 to $23.65 billion in 2025, suggesting a compound annual growth rate (CAGR) of 19.5%. The growth during the historic period is driven by factors such as the increased electrification of transportation, the rising adoption rate of electric vehicles (evs), stringent government regulations and emission standards in the automotive industry, investments in evs, and enhanced energy efficiency.
In the coming years, substantial growth is anticipated in the electric traction motor industry, which is projected to climb to $47.03 billion by 2029, reflecting a compound annual growth rate (CAGR) of 18.8%. Several factors are set to drive this expansion during the forecast period including cutting-edge research in motor technology, targets relating to environmental sustainability, an extended network for EV charging, rising uptake in commercial and industrial sectors, and broadening of electric mobility alternatives. Key trends to watch during the forecast period encompass innovations in motor design, improved battery technology, compact and lightweight motors, the inclusion of smart and IoT functionalities, and strategic partnerships.
Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7426
What Are the Different Electric Traction Motor Market Segments?
The electric traction motor market covered in this report is segmented -
1) By Type: AC, DC
2) By Power Rating: Less Than 200 kW, Between 200 kW To 400 kW, More Than 400 kW
3) By Application: Railway, Electric Vehicle, Elevators, Conveyors, Industrial Machinery
4) By Industry Vertical: Chemical And Petrochemical, Oil And Gas, Energy And Power, Automotive, Food And Beverages, Healthcare, Other Industry Verticals
Subsegments:
1) By AC (Alternating Current): Synchronous AC Motors, Asynchronous (Induction) AC Motors, Permanent Magnet AC Motors
2) By DC (Direct Current): Brushed DC Motors, Brushless DC Motors, Permanent Magnet DC Motors
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7426&type=smp
What Are the Primary Drivers Shaping the Electric Traction Motor Market?
The surging demand for electric vehicles is set to significantly boost the electric traction motor market. Although the economic repercussions of the COVID pandemic have reduced the need for petrol and diesel vehicles, demand for EVs and hybrid vehicles have seen a concurrent rise. This is largely due to increasing concerns over climate change and the desire to accomplish net-zero emissions, spurring a global transition towards emission-free transportation. This change in vehicle preference benefits the economy by lowering fuel expenditure and shifting consumer preference from oil-based products to power vehicles produced locally. The establishment of EV charging stations, hydrogen fuel stations and adoption initiatives by the government have further encouraged the utilization of electric vehicles. Enhanced demand for electric traction motors, which offer cleanliness, easy handling, speed regulation and high power propulsion, are making vehicles safer and more dependable. For instance, the U.S. Energy Information Administration, a governmental department, reported in January 2024 that hybrid vehicles, plug-in hybrid electric vehicles, and battery electric vehicles (BEVs) represented 16.3% of all new light-duty vehicle (LDV) sales in the United States in 2023, marking a rise from the 12.9% in 2022.
Which Companies Are Leading in the Electric Traction Motor Market?
Major companies operating in the electric traction motor market include ABB Ltd., Siemens AG, General Electric Company, CG Power and Industrial Solutions Ltd, CRRC Corporation Limited, Kirloskar Electric Company Ltd., Alstom SA, Traktionssysteme Austria GmbH, Skoda Transportation AS, Robert Bosch GmbH, Mitsubishi Electric Corporation, Toshiba Corporation, Nidec Corporation, Johnson Electric Holdings Limited, Ametek Inc., Regal Beloit Corporation, WEG SA, Brook Crompton UK Ltd., TECO Electric & Machinery Co. Ltd., Hitachi Ltd., Emerson Electric Co., Parker Hannifin Corporation, Marathon Electric Motors Limited., NORD Drivesystems Pvt. Ltd., Bonfiglioli Riduttori SpA, Sumitomo Heavy Industries Ltd., Yaskawa Electric Corporation, Fuji Electric Co. Ltd., Hyundai Rotem Company, VEM Group, Voith GmbH & Co. KGaA, KEB Automation KG
What Are the Major Trends Shaping the Electric Traction Motor Market?
Advancements in technology are emerging as a significant trend in the electric traction motor market. Despite their long-standing use, electric motors continue to offer opportunities for enhancement in terms of technology and energy efficiency. Axial flux motors, an evolving technology, are gaining increased attention for their ability to generate more torque per motor unit volume compared to radial motors. Leading players in electric traction motors are concentrating on providing upgraded versions to consolidate their market standing. For example, Mahle, a vehicle parts manufacturer based in Germany, launched SCT E-motor in July 2022. This high-performance, continuous torque E-motor is remarkably compact, lightweight, and resilient, thanks to its innovative integrated oil cooling mechanism.
Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/electric-traction-motor-global-market-report
What Are the Top Revenue-Generating Geographies in the Electric Traction Motor Market?
Asia-Pacific was the largest region in the electric traction motor market in 2024. North America is expected to be the fastest-growing region in the electric traction motor market during the forecast period. The regions covered in the electric traction motor market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Electric Traction Motor Market?
2. What is the CAGR expected in the Electric Traction Motor Market?
3. What Are the Key Innovations Transforming the Electric Traction Motor Industry?
4. Which Region Is Leading the Electric Traction Motor Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Surging Demand For Electric Vehicles Fuels Growth In The Electric Traction Motor Market: An Emerging Driver Transforming The Electric Traction Motor Market Landscape here
News-ID: 3955881 • Views: …
More Releases from The Business Research Company
Segment Evaluation and Major Growth Areas in the Personalized Testing and Supple …
The personalized testing and supplements sector is gaining remarkable traction, driven by advancements in technology and a rising consumer focus on tailored health solutions. As more individuals seek customized wellness options, this market is set to experience substantial expansion in the coming years. Here's an in-depth look at its current valuation, key players, significant trends, and the main market segments shaping its future.
Market Valuation and Expansion Forecast for Personalized Testing…
Top Players and Market Competition in the Skin Microbiome Industry
The skin microbiome market is emerging as a significant area of interest due to growing awareness about the critical role of skin health and innovative skincare technologies. As research advances and consumer preferences shift towards more natural and science-backed products, this market is set to undergo substantial growth. Let's explore the current market size, key players, driving factors, and upcoming trends shaping the skin microbiome industry.
Projected Expansion in the Skin…
Key Strategic Developments and Emerging Changes Shaping the Upadacitinib Market …
The upadacitinib market is poised for significant expansion over the coming years, driven by advances in treatment options and increasing awareness of autoimmune diseases. This report delves into the market's current size, key drivers, major players, and the emerging trends shaping its future trajectory.
Steady Growth Expected in Upadacitinib Market Size Through 2029
The market for upadacitinib is projected to reach $2.54 billion by 2029, growing at a robust compound annual…
Analysis of Key Market Segments Driving the Alzheimer's Disease Diagnostic Marke …
The Alzheimer's disease diagnostic sector is rapidly evolving as advancements in technology and healthcare infrastructure open new possibilities for early detection and personalized treatment. With rising awareness and innovative approaches, this market is poised for significant growth in the coming years. Let's explore the current market size, key drivers, leading companies, and emerging trends that are shaping this critical healthcare field.
Projected Market Size and Growth Trends in Alzheimer's Disease Diagnostics…
More Releases for Electric
Electrical Isolators Market 2023: Mitsubishi Electric, Orient Electric, Schneide …
The Electrical Isolators Market size (volume and value) and industry chain structure published by The Insight Partners through its high quality database which is a valuable source of guidance and direction for companies and individual interested in the industry.
An electrical isolator is a material in which electric current does not flow freely. The atoms of the insulator have tightly bound electrons which cannot readily move. Other materials, semiconductors and conductors…
Electric Motors for Electric Vehicle Market by Manufacturers: Hitachi Automotive …
Electric Motors for Electric Vehicle Market research report analyzes and studies the Electric Motors for Electric Vehicle Market's production, value, financial status, and capacity. It also provides information about market share and development plans during the projected period. Moreover, the Electric Motors for Electric Vehicle Market research report provides data about key manufacturers and focuses on the market competition landscape by analyzing the market by application, product type, and region.
Click…
Thermal Overload Relay Market 2021 Precise Outlook - ABB, Schneider Electric, Ea …
Global Thermal Overload Relay Market Size, Status and Forecast 2021
The Global Thermal Overload Relay Market report offers in-depth information and comprehensive analysis of the market. It provides a complete overview of the market with detailed insights on key aspects including the current market situation, potential size, volume, and dynamics of the market. This research report makes a thorough assessment of the COVID-19 pandemic and its impact on the current market…
Global Electric Motors for Electric Vehicles Market 2025 | MAHLE GmbH, Protean E …
Researchmoz added Most up-to-date research on "Global Electric Motors for Electric Vehicles Market Insights, Forecast to 2025" to its huge collection of research reports.
This report presents the worldwide Electric Motors for Electric Vehicles market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application.
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities…
Yokogawa Electric, General Electric Profiled in Smart Factory Solutions Market 2 …
Global Smart Factory Solutions Market which focuses on effective strategies of the business framework. It highlights the recent market trends stringent energy regulations and growing pressure to conform to energy efficiency. The research methods and tools used to analyze the studies are both primary and secondary research.
This market research report on analyzes the growth prospects for the key vendors operating in this market space including Siemens, ABB, Honeywell International, Yokogawa…
Global Quartz Heat Lamps Market 2017 : Indu Electric Gerber, Schneider Electric, …
The Market Research Store report offers majority of the latest and newest industry data that covers the overall market situation along with future prospects for Quartz Heat Lamps market around the globe. The research study includes significant data and also forecasts of the global market which makes the research report a helpful resource for marketing people, analysts, industry executives, consultants, sales and product managers, and other people who are in…
