Press release
Rising Electric Vehicle Demand Drives Growth In The Automotive Traction Motor Market: A Key Driver Powering Automotive Traction Motor Market Growth In 2025
Automotive Traction Motor Market Size
What Is the Current Automotive Traction Motor Market Size and Its Estimated Growth Rate?
The automotive traction motor market has experienced rapid growth in recent years. It is expected to grow from $7.45 billion in 2024 to $8.91 billion in 2025, at a CAGR of 19.7%. This growth is due to government incentives, growing demand for fuel-efficient transportation, and the expanding electric vehicle market.
The automotive traction motor market is set to grow rapidly, reaching $18.04 billion by 2029 with a CAGR of 19.3%. The growth is attributed to stricter global emission regulations, decreasing costs of batteries and electric vehicle components, improvements in battery efficiency, and the rise of EV adoption in urban mobility solutions. Key trends include the development of more efficient and compact traction motors, faster charging technologies, and the emphasis on eco-friendly production methods.
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How Are Emerging Segments Shaping the Automotive Traction Motor Market Landscape?
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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Which Growth Factors Are Influencing Automotive Traction Motor Market Expansion?
The growing demand for electric vehicles is expected to boost the automotive traction motor market. EVs, which use electric motors powered by rechargeable batteries, are in demand due to environmental concerns and technological advancements. Traction motors are key to EV performance, converting electrical energy into mechanical motion and enabling regenerative braking. In 2025, global EV sales are projected to reach 32.2 million, with a further increase to 72.3 million by 2030, propelling the growth of the automotive traction motor market.
Who Are the Dominant Players Across Different Automotive Traction Motor Market Segments?
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.
What Trends Are Driving Growth in The Automotive Traction Motor Market?
Leading companies in the automotive traction motor market are innovating with products like magnet-free electric motors to improve vehicle performance and range. In September 2023, ZF Friedrichshafen AG, a German company, launched the I2SM (In-Rotor Inductive-Excited Synchronous Motor), which uses inductive excitation instead of magnets to create a magnetic field. This design enhances efficiency by reducing energy losses by 15% and lowers CO2 emissions by up to 50% during production compared to traditional permanent-magnet synchronous motors.
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Which Geographic Regions Are Expected to Dominate the Automotive Traction Motor Market in the Coming Years?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Traction Motor Market?
2. What is the CAGR expected in the Automotive Traction Motor Market?
3. What Are the Key Innovations Transforming the Automotive Traction Motor Industry?
4. Which Region Is Leading the Automotive Traction Motor Market?
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