Emerging Trends to Drive Automotive Traction Motor Market Growth at 19.3% CAGR Through 2029

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Automotive Traction Motor Market Size Growth Forecast: What to Expect by 2025?
In the past few years, we've seen a fast-paced expansion in the automotive traction motor market. The market projection shows an increase from $7.45 billion in 2024, escalating to $8.91 billion in 2025. This substantial leap reflects a Compound Annual Growth Rate (CAGR) of 19.7%. Factors driving this growth during the historic period include government policies and incentives, growing demand for energy-efficient substitutes, increased ecologically conscious behaviors, a shift towards durable transportation, improved EV charging station accessibility and convenience, and significant investments in research and development as well as production by automakers.

How Will the Automotive Traction Motor Market Size Evolve and Grow by 2029?
The market size for automotive traction motors is set to experience significant growth in the upcoming years, intending to reach a value of $18.04 billion by 2029, with a compound annual growth rate (CAGR) of 19.3%. This surge in the predicted period can be attributed to several factors such as tightening of global emission rules, falling prices of batteries and other significant elements of electric vehicles, ongoing enhancements in battery efficiency and capacity, incorporation of advanced driver-assistance systems (ADAS) in electric vehicles, the rising acceptance of EVs in urban mobility solutions, and the expansion of EV adoption in emerging markets. Notable trends in the prediction period encompass development of more efficient and compact traction motors, improvement in battery efficiency and cost reduction, traction motors tailored for autonomous vehicle needs, focus on environment-friendly production and recycling motor components, and the creation of quicker and more competent charging technologies.

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What Drivers Are Propelling the Growth of Automotive Traction Motor Market Forward?
The automotive traction motor market's growth is anticipated to be driven by the increased desire for electric vehicles. These vehicles are automobile types powered by electric engines, utilizing rechargeable power cells or other energy conservation systems for main propulsion. The surge in electric vehicle demand stems from factors such as heightened environmental awareness, government incentives, advancements in battery technology, rising costs of fuel, and enhanced charging facilities. Traction motors-which convert electrical power into mechanical activity effectively and provide instantaneous torque-facilitate regenerative braking and enhance the overall performance, reliability, and eco-friendly benefits of electric vehicles. For instance, the International Energy Agency, a France-based organization for energy policies, predicts that in April 2023, the sales of electric cars will likely reach 32.2 million by 2025 and escalate to 72.3 million by 2030. This growing need for electric vehicles will subsequently bolster the automotive traction motor market.

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Which Emerging Trends Are Transforming the Automotive Traction Motor Market in 2025?
Prominent firms in the automotive traction motor industry are concentrating their efforts on creating ground-breaking products like magnet-free electric motors to boost performance and increase vehicle mileage. The magnet-free electric motor, which functions without permanent magnets and typically depends on alternatives like reluctance or induction for movement, is an example of such an innovation. For instance, ZF Friedrichshafen AG, an automotive technology company based in Germany, unveiled its magnet-free electric motor I2SM (In-Rotor Inductive-Excited Synchronous Motor) in September 2023. The magnetic field in the rotor is produced by inductive excitation, resulting in high torque and power density without the constraints of size and friction found in traditional brush or slip-ring systems. Unlike traditional SESM designs, the I2SM's inductive transmitter is compact and efficient, housed within the rotor shaft and requiring up to 90 mm less axial space. Not only does this innovative motor increase efficiency by cutting energy transmission losses by 15%, but it also drastically reduces the production process's CO2 footprint by up to 50% compared to conventional permanent-magnet synchronous motors.

What Are the Key Segments in the Automotive Traction Motor Market?
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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Who Are the Key Players Shaping the Automotive Traction Motor Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth 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.

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