Global EV Traction Motor Market Anticipated for Progressive CAGR Growth during 2017-2022

Growing adoption of the electronic vehicles is expected to rev up demand for the EV traction motors globally. In addition, imposition of government regulations regarding the air pollution and greenhouse emission is expected to impact growth of the global market positively. This Fact.MR report discusses key prospects for growth of global EV traction motor market during the forecast period, 2017-2026, offering pragmatic insights to lead market players towards devising & implementing informed strategies.

Request Free Sample Report- https://www.factmr.com/connectus/sample?flag=S&rep_id=336

The next section is an overview of the global EV traction motor market. This includes the introduction to the market and a standard definition of the product – EV traction motor. In this section, year-over-year growth and market value is offered to readers. Year-over-year growth gives readers a broader picture on growth patterns during the forecast period.

The next section of the report offers a thorough description of the latest macroeconomic factors that have a bearing on the global EV traction motor market. Considering the interconnectedness of the EV traction motor market to global automotive market and, in general, the global economy, readers will get valuable insights on how international developments impact this market.

In a bid to keep readers up-to-date on the latest developments in the global EV traction motor market, the report offers readers a roundup of the latest trends impacting the market. As the automotive sector is ever-evolving, staying abreast with latest trends and developments is paramount to formulating key business strategies. Information on supply chain, cost structure, pricing analysis, raw material sourcing, and list of distributors are offered to readers in this section.

Considering the broad scope of global EV traction motor market, the report includes a segment-wise analysis and forecast. The global EV traction motor market is segmented into – motor type, voltage rating, vehicle type and region. Through this section, the report offers an in-depth country-wise forecast on every parameter associated with EV traction motor.

Browse Full Report with TOC- https://www.factmr.com/report/336/ev-traction-motor-market

5 Key Insights on Global EV Traction Motor Market

1. North America is expected to remain dominant in the global EV traction market during the forecast period 2017-2026. Owing to the initiatives by the government such as providing incentives and subsidies on purchasing an electric vehicle is one of the factors driving the market growth in North America. Moreover, the U.S. Department of Energy is also encouraging and guiding manufacturers to produce traction motors to enhance the power, and reduce the cost of electric vehicles.

2. Europe and Asia Pacific Excluding Japan (APEJ) are also expected to witness impressive growth. Netherlands is one of the major countries producing and using electric vehicles. Moreover, countries such as Germany, U.K., and France are also moving towards using electric vehicles. Government and local bodies in India and China are also making efforts to boost the use of electric vehicles.

3. Induction/Asynchronous Motors (IM) is expected to be the highly preferred motor in the global EV traction motor market. By the end of 2026, Induction/Asynchronous Motors (IM) is projected to reach nearly US$ 8,200 million revenue.

4. High voltage EV traction motor is expected to account for maximum revenue share. High voltage EV traction motor is also estimated to bring in nearly US$ 9,500 million revenue towards 2026 end.

5. Mild hybrid vehicles are likely to gain maximum traction in the global EV traction motor market. Mild hybrid vehicles are projected to create an incremental opportunity exceeding US$ 3,700 million between 2017 and 2026.

High Demand for Efficient Motors to Fuel Market Growth

The traction motor help in reducing the cooling time when the vehicles are operating at a comparatively high temperature, which increases the efficiency of the motors. Manufacturing companies are increasingly focusing on developing traction motors that are equipped with features such as reliability, enhanced power density and efficiency. Adoption of the EV traction motors further reduces the maintenance cost of the vehicles. Bound to these factors, the global EV traction motor is expected to witness significant growth during the forecast period.

Competition Tracking

Leading market players operating in the global EV traction motor market include Bharat Heavy Electricals Ltd., ABB Limited, Parker-Hannifin Corp., Magnetic Systems Technology, Valeo SA, SKF AB, ZF TRW Automotive Holdings Corporation, Zytek Group Limited and YASA Motors Ltd.

Check Discount- https://www.factmr.com/connectus/sample?flag=D&rep_id=336

About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized automotive market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

Contact Us
Fact.MR
Suite 9884
27 Upper Pembroke Street,
Dublin 2, Ireland
Telephone: +353-1-6111-593
Email: sales@factmr.com/
Web: https://www.factmr.com/

This release was published on openPR.