Electric Heavy Commercial Vehicles Fuel Growth In Traction Motor Market: Transformative Forces Shaping the Electric Commercial Vehicle Traction Motor Market Landscape in 2025

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What Will the Electric Commercial Vehicle Traction Motor Industry Market Size Be by 2025?
In recent years, the market size for the traction motor in electric commercial vehicles has been expanding at a rapid pace. The market size, which is expected to be $1.54 billion in 2024, is predicted to surge to $1.89 billion in 2025, growing at a compound annual growth rate of 22.2%. The expansion during this historic phase can be credited to governmental incentives promoting electrification, rising consciousness about environmental impact, enhanced charging infrastructure, and the escalation in demand for eco-friendly transportation solutions.

What's the Long-Term Growth Forecast for the Electric Commercial Vehicle Traction Motor Market Size Through 2029?
The market for traction motors in electric commercial vehicles is forecasted to undergo monumental growth in the coming years. The market is projected to reach a value of $4.16 billion by 2029, with a compound annual growth rate of 21.9%. Several factors attribute to the anticipated growth in this period, including the increase in electric vehicle fleets by commercial logistics companies, the uptake of self-driving technology in commercial vehicles, and the introduction of innovative business models like battery swapping for commercial EVs. Key emerging trends during the forecast period encompass integration with power electronics, the creation of advanced cooling methods, the enforcement of stringent design and testing standards, and integration with advanced vehicle systems.

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What Are the Key Growth Drivers Fueling the Electric Commercial Vehicle Traction Motor Market Expansion?
The electric commercial vehicle traction motor market is projected to experience significant growth due to an increase in demand for electric heavy commercial vehicles. These large vehicles, such as trucks and buses, are primarily designed for commercial purposes and are powered by electric motors in place of the conventional internal combustion engines. The popularity of electric heavy commercial vehicles can be attributed to their eco-friendliness, cost effectiveness, and backed government policies. The traction motors present in these vehicles provide the requisite power and torque for efficient performance. In fact, data from the International Energy Agency (IEA), an autonomous intergovernmental organization based in France, shows that in 2022, 54,000 new electric buses and approximately 52,000 electric medium- and heavy-duty trucks were sold in China. This was an increase from 50,000 and 37,000 respectively in 2021. Thus, the escalating demand for electric heavy commercial vehicles is stimulating the expansion of the electric commercial vehicle traction motor market.

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What Are the Key Trends Driving Electric Commercial Vehicle Traction Motor Market Growth?
Top corporations in the electric commercial vehicle traction motor market are forging ahead with the creation of novel solutions such as compact and lightweight traction motors, in a bid to outperform their rivals. These unique motors are distinguished by their small stature and reduced weight, while still possessing significant power output. For instance, in July 2022, Mahle GmbH, a renowned automotive parts maker from Germany, introduced the SCT E-motor. This traction motor was engineered with a variety of vehicles in mind, including electric passenger and commercial vehicles, construction machinery, and tractors. The SCT E-motor incorporates an always-energized motor design with neodymium magnets in a tidy bundle, and comes with a built-in oil cooling system. This allows it to recover waste heat and contributes to the motor's robust construction. The standout feature of the SCT E-motor is its extraordinarily high sustained output to peak output ratio, which crosses 90%, a feat possible due to the innovative oil cooling system. This not only fortifies the motor's strength but also facilitates waste heat utilization across the whole vehicle system.

How Is the Electric Commercial Vehicle Traction Motor Market Segmented?
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 Companies Are Leading the Charge in Electric Commercial Vehicle Traction Motor Market Innovation?
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

Which Regions Are Leading the Global Electric Commercial Vehicle Traction Motor Market in Revenue?
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.

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