EV Traction Motor Market to Soar Past USD 86.39 Billion by 2031, Expanding at a CAGR of 19.0%

QY Research has recently published a report, titled "EV Traction Motor Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031". The global EV Traction Motor market is comprehensively analyzed in the report with the main objective of providing accurate market data and useful recommendations to help players to gain strong growth in future. The report is compiled by subject matter experts and experienced market analysts, which makes it highly authentic and reliable. Readers are provided with deep analysis of historical and future market scenarios to get sound understanding of market competition and other important aspects. The report offers exhaustive research on market dynamics, key segments, leading players, and different regional markets. It is a complete package of thorough analysis and research on the global EV Traction Motor market.

The global market for EV Traction Motor was estimated to be worth US$ 24285 million in 2024 and is forecast to a readjusted size of US$ 86395 million by 2031 with a CAGR of 19.0% during the forecast period 2025-2031.

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The EV traction motor market shows immense potential across China, the USA, the EU, Japan, and other regions, driven by rapid electric vehicle adoption, government decarbonization mandates, and technological advancements; in China, the world's largest EV market, strong domestic demand, aggressive government incentives, and vertically integrated supply chains are propelling both volume growth and innovation in traction motor design, particularly with permanent magnet synchronous motors (PMSM) and integrated motor-drive systems; in the United States, the market is expanding due to rising EV production by traditional automakers and startups alike, supported by the Inflation Reduction Act and increasing investment in localized motor manufacturing and critical material supply chains; in the European Union, strict carbon emission targets, a fast-growing EV consumer base, and premium automakers transitioning to electric drivetrains are stimulating strong demand for high-efficiency, compact, and cost-effective traction motors, especially in Germany and France, where regional players are pushing innovations in axial flux and hairpin-winding motor technologies; in Japan, although EV uptake has lagged behind China and Europe, the traction motor market is growing steadily thanks to hybrid system dominance, R&D leadership in precision motor control, and recent policy shifts to accelerate BEV development by companies like Toyota and Nissan; beyond these core markets, emerging economies in Southeast Asia and Latin America also present rising opportunities, as local EV assembly expands and infrastructure improves, while globally, the traction motor market is increasingly shaped by the push for rare-earth-free alternatives, next-generation cooling technologies, modular motor architectures, and tighter integration with inverters and gearboxes, all of which are crucial to improving power density, reducing cost, and meeting diverse vehicle platform requirements in an electrified global automotive landscape.

Drivers and Restraints-

The report explains the drivers shaping the future of the EV Traction Motor market. It evaluates the various forces that are expected to create a positive influence on the overall market. Analysts have studied the investments in research and development of products and technologies that are expected to give the players a definite boost. Furthermore, researchers have also included an analysis of the changing consumer behavior that is projected to impact the supply and demand cycles present in the global EV Traction Motor market. Evolving per capita earnings, improving economic statuses, and emerging trends have all been studied in this research report.

The research report also explains the potential restraints present in the global EV Traction Motor market. It evaluates the aspects that are likely to hamper the market growth in the near future. In addition to this assessment, it also provides a list of opportunities that could prove lucrative to the overall market. Analysts provide solutions for turning threats and restraints into successful opportunities in the coming years.

The competitive landscape of the global EV Traction Motor market is broadly studied in the report with large focus on recent developments, future plans of top players, and key growth strategies adopted by them. The analysts authoring the report have profiled almost every major player of the global EV Traction Motor market and thrown light on their crucial business aspects such as production, areas of operation, and product portfolio. All companies analyzed in the report are studied on the basis of vital factors such as market share, market growth, company size, production volume, revenue, and earnings.

Key Players Mentioned in the Global EV Traction Motor Market Research Report:

BMW
Fukuta Motor
Broad-Ocean
BYD
Nissan
Continental AG
Jing-Jin Electric Technologies
ZF
Groupe Renault
Toyota
Meidensha
BOSCH
UAES
LG
Dajun Tech
SIEMENS
Greatland Electrics
Hitachi Automotive Systems
Magna
Huayu Automotive Electric Systems co. Ltd.
Zhejiang Founder Motor Co. Ltd
Huawei

The report offers great insights into important segments of the global EV Traction Motor market while concentrating on their CAGR, market size, market share, and future growth potential. The global EV Traction Motor market is mainly segmented according to type of product, application, and region. Each segment in these categories is extensively researched to become familiar with their growth prospects and key trends. Segmental analysis is highly important to identify key growth pockets of a global market. The report provides specific information on the market growth and demand of different products and applications to help players to focus on profitable areas of the global EV Traction Motor market.

Details of EV Traction Motor Market Segmentation: -

Segment by Type:

AC Induction Motor
Permanent Magnet Motor

Segment by Application:

BEV
PHEV

Research Methodology

This report has been compiled using latest primary and secondary research methodologies such as data triangulation, qualitative and quantitative analysis, and top-down and bottom-up approaches. The researchers also referred to reliable secondary sources for collecting important data and statistics. All the findings of the research study have been verified and revalidated with the help of authentic primary sources.

The researchers create a unique model and customize it for each research study. Their market forecasts are based on the industry-best combination of domain expertise, industry knowledge and experience, technological analysis, and economic tools. Technological market models are generally adopted for long-term market forecasting, whereas econometric models are adopted for short-term forecasting. The researchers were provided with advanced analysis tools at the time of the preparation of the report.

Report Objectives

(1) To carefully analyze and estimate the size of the global EV Traction Motor market

(2) To clearly segment the global EV Traction Motor market and estimate the market size of the segments

(3) To provide details about key strategies adopted by leading players of the global EV Traction Motor market

(4) To help readers understand current and future market scenarios

(5) To provide information about latest trends of the global EV Traction Motor market and its key segments

(6) To assess the contribution of each region or country to the global EV Traction Motor market

(7) To provide information on important drivers, restraints, and opportunities of the global EV Traction Motor market

(8) To accurately calculate the market shares of key segments, regions, and companies in the global EV Traction Motor market

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Table of Content

"1 Market Overview
1.1 EV Traction Motor Product Introduction
1.2 Global EV Traction Motor Market Size Forecast
1.2.1 Global EV Traction Motor Sales Value (2020-2031)
1.2.2 Global EV Traction Motor Sales Volume (2020-2031)
1.2.3 Global EV Traction Motor Sales Price (2020-2031)
1.3 EV Traction Motor Market Trends & Drivers
1.3.1 EV Traction Motor Industry Trends
1.3.2 EV Traction Motor Market Drivers & Opportunity
1.3.3 EV Traction Motor Market Challenges
1.3.4 EV Traction Motor Market Restraints
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Competitive Analysis by Company
2.1 Global EV Traction Motor Players Revenue Ranking (2024)
2.2 Global EV Traction Motor Revenue by Company (2020-2025)
2.3 Global EV Traction Motor Players Sales Volume Ranking (2024)
2.4 Global EV Traction Motor Sales Volume by Company Players (2020-2025)
2.5 Global EV Traction Motor Average Price by Company (2020-2025)
2.6 Key Manufacturers EV Traction Motor Manufacturing Base and Headquarters
2.7 Key Manufacturers EV Traction Motor Product Offered
2.8 Key Manufacturers Time to Begin Mass Production of EV Traction Motor
2.9 EV Traction Motor Market Competitive Analysis
2.9.1 EV Traction Motor Market Concentration Rate (2020-2025)
2.9.2 Global 5 and 10 Largest Manufacturers by EV Traction Motor Revenue in 2024
2.9.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in EV Traction Motor as of 2024)
2.10 Mergers & Acquisitions, Expansion
3 Segmentation by Type
3.1 Introduction by Type
3.1.1 AC Induction Motor
3.1.2 Permanent Magnet Motor
3.2 Global EV Traction Motor Sales Value by Type
3.2.1 Global EV Traction Motor Sales Value by Type (2020 VS 2024 VS 2031)
3.2.2 Global EV Traction Motor Sales Value, by Type (2020-2031)
3.2.3 Global EV Traction Motor Sales Value, by Type (%) (2020-2031)
3.3 Global EV Traction Motor Sales Volume by Type
3.3.1 Global EV Traction Motor Sales Volume by Type (2020 VS 2024 VS 2031)
3.3.2 Global EV Traction Motor Sales Volume, by Type (2020-2031)
3.3.3 Global EV Traction Motor Sales Volume, by Type (%) (2020-2031)
3.4 Global EV Traction Motor Average Price by Type (2020-2031)
4 Segmentation by Application
4.1 Introduction by Application
4.1.1 BEV
4.1.2 PHEV
4.2 Global EV Traction Motor Sales Value by Application
4.2.1 Global EV Traction Motor Sales Value by Application (2020 VS 2024 VS 2031)
4.2.2 Global EV Traction Motor Sales Value, by Application (2020-2031)
4.2.3 Global EV Traction Motor Sales Value, by Application (%) (2020-2031)
4.3 Global EV Traction Motor Sales Volume by Application
4.3.1 Global EV Traction Motor Sales Volume by Application (2020 VS 2024 VS 2031)
4.3.2 Global EV Traction Motor Sales Volume, by Application (2020-2031)
4.3.3 Global EV Traction Motor Sales Volume, by Application (%) (2020-2031)
4.4 Global EV Traction Motor Average Price by Application (2020-2031)
5 Segmentation by Region
5.1 Global EV Traction Motor Sales Value by Region
5.1.1 Global EV Traction Motor Sales Value by Region: 2020 VS 2024 VS 2031
5.1.2 Global EV Traction Motor Sales Value by Region (2020-2025)
5.1.3 Global EV Traction Motor Sales Value by Region (2026-2031)
5.1.4 Global EV Traction Motor Sales Value by Region (%), (2020-2031)
5.2 Global EV Traction Motor Sales Volume by Region
5.2.1 Global EV Traction Motor Sales Volume by Region: 2020 VS 2024 VS 2031
5.2.2 Global EV Traction Motor Sales Volume by Region (2020-2025)
5.2.3 Global EV Traction Motor Sales Volume by Region (2026-2031)
5.2.4 Global EV Traction Motor Sales Volume by Region (%), (2020-2031)
5.3 Global EV Traction Motor Average Price by Region (2020-2031)
5.4 North America
5.4.1 North America EV Traction Motor Sales Value, 2020-2031
5.4.2 North America EV Traction Motor Sales Value by Country (%), 2024 VS 2031
5.5 Europe
5.5.1 Europe EV Traction Motor Sales Value, 2020-2031
5.5.2 Europe EV Traction Motor Sales Value by Country (%), 2024 VS 2031
5.6 Asia Pacific
5.6.1 Asia Pacific EV Traction Motor Sales Value, 2020-2031
5.6.2 Asia Pacific EV Traction Motor Sales Value by Region (%), 2024 VS 2031
5.7 South America
5.7.1 South America EV Traction Motor Sales Value, 2020-2031
5.7.2 South America EV Traction Motor Sales Value by Country (%), 2024 VS 2031
5.8 Middle East & Africa
5.8.1 Middle East & Africa EV Traction Motor Sales Value, 2020-2031
5.8.2 Middle East & Africa EV Traction Motor Sales Value by Country (%), 2024 VS 2031
6 Segmentation by Key Countries/Regions
6.1 Key Countries/Regions EV Traction Motor Sales Value Growth Trends, 2020 VS 2024 VS 2031
6.2 Key Countries/Regions EV Traction Motor Sales Value and Sales Volume
6.2.1 Key Countries/Regions EV Traction Motor Sales Value, 2020-2031
6.2.2 Key Countries/Regions EV Traction Motor Sales Volume, 2020-2031
6.3 United States
6.3.1 United States EV Traction Motor Sales Value, 2020-2031
6.3.2 United States EV Traction Motor Sales Value by Type (%), 2024 VS 2031
6.3.3 United States EV Traction Motor Sales Value by Application, 2024 VS 2031
6.4 Europe
6.4.1 Europe EV Traction Motor Sales Value, 2020-2031
6.4.2 Europe EV Traction Motor Sales Value by Type (%), 2024 VS 2031
6.4.3 Europe EV Traction Motor Sales Value by Application, 2024 VS 2031
6.5 China
6.5.1 China EV Traction Motor Sales Value, 2020-2031
6.5.2 China EV Traction Motor Sales Value by Type (%), 2024 VS 2031
6.5.3 China EV Traction Motor Sales Value by Application, 2024 VS 2031
6.6 Japan
6.6.1 Japan EV Traction Motor Sales Value, 2020-2031
6.6.2 Japan EV Traction Motor Sales Value by Type (%), 2024 VS 2031
6.6.3 Japan EV Traction Motor Sales Value by Application, 2024 VS 2031
6.7 South Korea
6.7.1 South Korea EV Traction Motor Sales Value, 2020-2031
6.7.2 South Korea EV Traction Motor Sales Value by Type (%), 2024 VS 2031
6.7.3 South Korea EV Traction Motor Sales Value by Application, 2024 VS 2031
6.8 Southeast Asia
6.8.1 Southeast Asia EV Traction Motor Sales Value, 2020-2031
6.8.2 Southeast Asia EV Traction Motor Sales Value by Type (%), 2024 VS 2031
6.8.3 Southeast Asia EV Traction Motor Sales Value by Application, 2024 VS 2031
6.9 India
6.9.1 India EV Traction Motor Sales Value, 2020-2031
6.9.2 India EV Traction Motor Sales Value by Type (%), 2024 VS 2031
6.9.3 India EV Traction Motor Sales Value by Application, 2024 VS 2031
7 Company Profiles
7.1 BMW
7.1.1 BMW Company Information
7.1.2 BMW Introduction and Business Overview
7.1.3 BMW EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.1.4 BMW EV Traction Motor Product Offerings
7.1.5 BMW Recent Development
7.2 Fukuta Motor
7.2.1 Fukuta Motor Company Information
7.2.2 Fukuta Motor Introduction and Business Overview
7.2.3 Fukuta Motor EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.2.4 Fukuta Motor EV Traction Motor Product Offerings
7.2.5 Fukuta Motor Recent Development
7.3 Broad-Ocean
7.3.1 Broad-Ocean Company Information
7.3.2 Broad-Ocean Introduction and Business Overview
7.3.3 Broad-Ocean EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.3.4 Broad-Ocean EV Traction Motor Product Offerings
7.3.5 Broad-Ocean Recent Development
7.4 BYD
7.4.1 BYD Company Information
7.4.2 BYD Introduction and Business Overview
7.4.3 BYD EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.4.4 BYD EV Traction Motor Product Offerings
7.4.5 BYD Recent Development
7.5 Nissan
7.5.1 Nissan Company Information
7.5.2 Nissan Introduction and Business Overview
7.5.3 Nissan EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.5.4 Nissan EV Traction Motor Product Offerings
7.5.5 Nissan Recent Development
7.6 Continental AG
7.6.1 Continental AG Company Information
7.6.2 Continental AG Introduction and Business Overview
7.6.3 Continental AG EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.6.4 Continental AG EV Traction Motor Product Offerings
7.6.5 Continental AG Recent Development
7.7 Jing-Jin Electric Technologies
7.7.1 Jing-Jin Electric Technologies Company Information
7.7.2 Jing-Jin Electric Technologies Introduction and Business Overview
7.7.3 Jing-Jin Electric Technologies EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.7.4 Jing-Jin Electric Technologies EV Traction Motor Product Offerings
7.7.5 Jing-Jin Electric Technologies Recent Development
7.8 ZF
7.8.1 ZF Company Information
7.8.2 ZF Introduction and Business Overview
7.8.3 ZF EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.8.4 ZF EV Traction Motor Product Offerings
7.8.5 ZF Recent Development
7.9 Groupe Renault
7.9.1 Groupe Renault Company Information
7.9.2 Groupe Renault Introduction and Business Overview
7.9.3 Groupe Renault EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.9.4 Groupe Renault EV Traction Motor Product Offerings
7.9.5 Groupe Renault Recent Development
7.10 Toyota
7.10.1 Toyota Company Information
7.10.2 Toyota Introduction and Business Overview
7.10.3 Toyota EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.10.4 Toyota EV Traction Motor Product Offerings
7.10.5 Toyota Recent Development
7.11 Meidensha
7.11.1 Meidensha Company Information
7.11.2 Meidensha Introduction and Business Overview
7.11.3 Meidensha EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.11.4 Meidensha EV Traction Motor Product Offerings
7.11.5 Meidensha Recent Development
7.12 BOSCH
7.12.1 BOSCH Company Information
7.12.2 BOSCH Introduction and Business Overview
7.12.3 BOSCH EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.12.4 BOSCH EV Traction Motor Product Offerings
7.12.5 BOSCH Recent Development
7.13 UAES
7.13.1 UAES Company Information
7.13.2 UAES Introduction and Business Overview
7.13.3 UAES EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.13.4 UAES EV Traction Motor Product Offerings
7.13.5 UAES Recent Development
7.14 LG
7.14.1 LG Company Information
7.14.2 LG Introduction and Business Overview
7.14.3 LG EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.14.4 LG EV Traction Motor Product Offerings
7.14.5 LG Recent Development
7.15 Dajun Tech
7.15.1 Dajun Tech Company Information
7.15.2 Dajun Tech Introduction and Business Overview
7.15.3 Dajun Tech EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.15.4 Dajun Tech EV Traction Motor Product Offerings
7.15.5 Dajun Tech Recent Development
7.16 SIEMENS
7.16.1 SIEMENS Company Information
7.16.2 SIEMENS Introduction and Business Overview
7.16.3 SIEMENS EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.16.4 SIEMENS EV Traction Motor Product Offerings
7.16.5 SIEMENS Recent Development
7.17 Greatland Electrics
7.17.1 Greatland Electrics Company Information
7.17.2 Greatland Electrics Introduction and Business Overview
7.17.3 Greatland Electrics EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.17.4 Greatland Electrics EV Traction Motor Product Offerings
7.17.5 Greatland Electrics Recent Development
7.18 Hitachi Automotive Systems
7.18.1 Hitachi Automotive Systems Company Information
7.18.2 Hitachi Automotive Systems Introduction and Business Overview
7.18.3 Hitachi Automotive Systems EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.18.4 Hitachi Automotive Systems EV Traction Motor Product Offerings
7.18.5 Hitachi Automotive Systems Recent Development
7.19 Magna
7.19.1 Magna Company Information
7.19.2 Magna Introduction and Business Overview
7.19.3 Magna EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.19.4 Magna EV Traction Motor Product Offerings
7.19.5 Magna Recent Development
7.20 Huayu Automotive Electric Systems co., Ltd.
7.20.1 Huayu Automotive Electric Systems co., Ltd. Company Information
7.20.2 Huayu Automotive Electric Systems co., Ltd. Introduction and Business Overview
7.20.3 Huayu Automotive Electric Systems co., Ltd. EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.20.4 Huayu Automotive Electric Systems co., Ltd. EV Traction Motor Product Offerings
7.20.5 Huayu Automotive Electric Systems co., Ltd. Recent Development
7.21 Zhejiang Founder Motor Co., Ltd
7.21.1 Zhejiang Founder Motor Co., Ltd Company Information
7.21.2 Zhejiang Founder Motor Co., Ltd Introduction and Business Overview
7.21.3 Zhejiang Founder Motor Co., Ltd EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.21.4 Zhejiang Founder Motor Co., Ltd EV Traction Motor Product Offerings
7.21.5 Zhejiang Founder Motor Co., Ltd Recent Development
7.22 Huawei
7.22.1 Huawei Company Information
7.22.2 Huawei Introduction and Business Overview
7.22.3 Huawei EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
7.22.4 Huawei EV Traction Motor Product Offerings
7.22.5 Huawei Recent Development
8 Industry Chain Analysis
8.1 EV Traction Motor Industrial Chain
8.2 EV Traction Motor Upstream Analysis
8.2.1 Key Raw Materials
8.2.2 Raw Materials Key Suppliers
8.2.3 Manufacturing Cost Structure
8.3 Midstream Analysis
8.4 Downstream Analysis (Customers Analysis)
8.5 Sales Model and Sales Channels
8.5.1 EV Traction Motor Sales Model
8.5.2 Sales Channel
8.5.3 EV Traction Motor Distributors
9 Research Findings and Conclusion
10 Appendix
10.1 Research Methodology
10.1.1 Methodology/Research Approach
10.1.1.1 Research Programs/Design
10.1.1.2 Market Size Estimation
10.1.1.3 Market Breakdown and Data Triangulation
10.1.2 Data Source
10.1.2.1 Secondary Sources
10.1.2.2 Primary Sources
10.2 Author Details
10.3 Disclaimer

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