Press release
Global EV Traction Motor Market Proposals & Trends Leading to 13.5% CAGR Growth during 2017-2026
Fact.MR
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As the need for regenerative brakes and propulsion in the electric vehicles arises, manufacturers are focusing on developing advanced traction motors. Surge in demand for the electric vehicles in the automotive industry will continue to rev up adoption of EV traction motor significantly. In addition, imposition of government regulations regarding the emission of greenhouse gases and air pollutants is further expected to fuel sales of the electric vehicles globally. Adoption of the EV traction motor will continue to gain momentum with the increase in the electric passenger trains.
According to Fact.MR, the global EV traction motor market is expected to represent a value of US$ 14,924 Mn by 2026-end. Demand for the EV traction motors will continue due to increasing investment in research and development.
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.
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Table Of Content
1. Global EV Traction Motor Market - Executive Summary
2. Global EV Traction Motor Market Overview
2.1. Introduction
2.1.1. Global EV Traction Motor Market Taxonomy
2.1.2. Global EV Traction Motor Market Definition
2.2. Global EV Traction Motor Market Size (US$ Mn) and Forecast, 2012-2026
2.2.1. Global EV Traction Motor Market Y-o-Y Growth
2.3. Global EV Traction Motor Market Dynamics
2.4. Supply Chain
2.5. Product Life Cycle
2.6. PESTLE Analysis
2.7. Cost Structure
2.8. Porter's Five
2.9. Electric Vehicle Index (EVI)
2.10. Leading EV Producing Countries and Subsidies Offered by the Government (US$)
2.11. Benefits of Selling to Different Manufacturers
2.12. Key Participants Market Presence (Intensity Map) By Region
3. Global EV Traction Motor Market Analysis and Forecast 2012-2026
3.1. Global EV Traction Motor Market Size and Forecast By Motor Type, 2012-2026
3.1.1. Permanent Magnet Synchronous Motors (PMSM) Market Size and Forecast, 2012-2026
3.1.1.1. Revenue (US$ Mn) Comparison, By Region
3.1.1.2. Market Share Comparison, By Region
3.1.1.3. Y-o-Y growth Comparison, By Region
3.1.2. Induction/Asynchronous Motors (IM) Market Size and Forecast, 2012-2026
3.1.2.1. Revenue (US$ Mn) Comparison, By Region
3.1.2.2. Market Share Comparison, By Region
3.1.2.3. Y-o-Y growth Comparison, By Region
Continue…@@
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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.
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