Automotive Traction Motor Market by Motor Type (AC Induction Motors, Brushless Direct Current Motor, Permanent Magnet Synchronous Motor), Power Output (200-400 KW, Above 400 KW, Less than 200 KW), EV Type, Vehicle Type - Global Forecast 2024-2030

Automotive Traction Motor Market by Motor Type (AC Induction Motors, Brushless Direct Current Motor, Permanent Magnet Synchronous Motor), Power Output (200-400 KW, Above 400 KW, Less than 200 KW), EV Type, Vehicle Type - Global Forecast 2024-2030

The Automotive Traction Motor Market size was estimated at USD 7.85 billion in 2023 and expected to reach USD 9.00 billion in 2024, at a CAGR 16.40% to reach USD 22.74 billion by 2030.

Automotive traction motors are electric motors that are used to propel electric and hybrid vehicles. These motors convert electrical energy into mechanical energy, facilitating the movement of vehicles. This market's scope includes various types of traction motors, such as alternating current (AC) induction motors, permanent magnet synchronous motors (PMSMs), and direct current (DC) motors. The application of these motors spans a myriad of vehicle types, including passenger cars, heavy commercial vehicles, and light commercial vehicles, as well as two-wheelers and three-wheelers that are equipped with electric drive capabilities.

Stringent environmental regulations and increased awareness about greenhouse gas emissions are propelling the demand for electric vehicles, subsequently increasing the demand for traction motors. Additionally, the availability of government incentives for EV manufacturers and buyers further incentivizes the growth of the traction motor market. High initial costs associated with electric motors and related technologies hinder market growth. Growing development of lightweight and more efficient traction motors with rising initiatives for the refurbishment and recycling of old motors for sustainable practices are expected to create opportunities for market growth.

Regional Insights

The ongoing government initiatives and investments for electric vehicle manufacturing with expanding manufacturing hubs in the American region promote the enormous demand for the automotive traction motors market. Rising consumer awareness toward electric vehicles also encourages the adoption of lightweight and heavy electric vehicle components, creating the need for automotive traction motors in South America. The European Union is at the forefront of electrifying transportation, with stringent emissions regulations and aggressive targets for EV deployment. Subsidies and incentives, along with high fuel prices, have made electric vehicles an attractive option for consumers. This has translated to a boosted demand for innovative traction motor technologies, with numerous EU-funded projects focused on the optimization of electric powertrains. In the Middle East, the market for automotive traction motors is emergent, with countries such as the United Arab Emirates (UAE) and Saudi Arabia investing in smart cities with integrated EV technologies. The traction motor market in Africa is nascent, with several countries in the early stages of EV adoption. The Asia-Pacific region is witnessing rapid growth in the automotive traction motors market due to the growing automotive manufacturing and increasing sales of vehicles with electrified features acting as a key differentiator for defining the luxury and comfort level.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Automotive Traction Motor Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Surging adoption of electric vehicles globally with supportive government investments
• Growing inclination towards the development of fuel cell vehicles
• Expanding initiatives towards electrification of public transportation and school vehicles

Market Restraints

• High cost of raw materials and installation associated with automotive traction motor

Market Opportunities

• Technological advancements in automotive traction motor
• Rising focus on refurbishment and recycling of old traction motors

Market Challenges

• Complications in operations and risk of power failure with automotive traction motor

Market Segmentation Analysis

• Motor Type: Growing usage of AC induction motors due to their ruggedness, low maintenance and good power-to-weight ratio
• Power Output: Increasing significance of traction motors with above 400 KW power that handle the heavy towing requirements of large commercial vehicles
• EV Type: Growing popularity of hybrid electric vehicles (HEVs) that reduce emissions without relying solely on charging infrastructure
• Vehicle Type: Rising potential of higher torque-based traction motors in commercial vehicles for heavy-duty performance

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Automotive Traction Motor Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Automotive Traction Motor Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

GKN Automotive Unveils New Off-The-Shelf Electric Drive Unit Concept

GKN Automotive introduced a revolutionary plug-and-play electric drive unit concept aimed at expediting the production and integration process for manufacturers. The eCrate, available in three configurations, caters to a diverse customer base, offering a selection between a 113kW 2-in-1 system (integrating motor and transmission) and a more comprehensive 3-in-1 system, which includes an electric machine, transmission, and inverter, delivered in either 113kW or 185kW options. Likely to hit the market by 2025, this off-the-shelf solution is appealing to emerging EV companies and enthusiasts interested in retrofits while also serving established low-volume manufacturers.

Nidec and Renesas Collaborate on Semiconductor Solutions for Next-Generation E-Axle for EVs

Nidec Corporation and Renesas Electronics Corporation have announced a strategic partnership aimed at pioneering the semiconductor solutions integral to the advancement of next-generation Electric Axle (E-Axle) systems. These systems, described as X-in-1 systems, integrate EV drive motors with sophisticated power electronics, marking a leap forward in efficiency and compactness for EV drivetrains. This collaboration is poised to stimulate innovative strides in the automotive industry by marrying Nidec's traction motor expertise with Renesas's cutting-edge semiconductor prowess.

Flash Partners with GEM Motors for Electric Motor Technology

Flash, a provider of technology solutions and electronic components, has forged a strategic alliance with GEM Motors for the joint production of versatile motors tailored for the electric vehicle sector, covering a power spectrum ranging from 1 kW to 15 kW. Notably, this partnership leverages Flash's unique capability to rapidly tailor motors to meet specific customer needs and expedite project timelines, thanks to their modular motor architecture. The synergy between Flash's technology acumen and GEM motors' innovative expertise is poised to elevate the propulsion options available to EV manufacturers across diverse market segments.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Automotive Traction Motor Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Automotive Traction Motor Market, highlighting leading vendors and their innovative profiles. These include Aisin Corporation, Bharat Heavy Electricals Ltd, BorgWarner Inc., BYD CO.LTD, Continental AG, Denso Corporation, Eaton Corporation PLC, Equipmake Ltd, GKN Automotive Limited, Jing-Jin Electric Technologies Co., Ltd., Johnson Electric Holdings Limited, Magna International Inc., MAHLE GmbH, Mitsuba Corp., Nidec Corporation, Parker Hannifin Corporation, Robert Bosch GmbH, Schaeffler AG, Shanghai Edrive Co., Ltd., Shenzhen Inovance Technology Co. Ltd., Shuanglin Group Co., Ltd., SKF AB, Tesla Inc., Valeo Group, and ZF Friedrichshafen AG.

Market Segmentation & Coverage

This research report categorizes the Automotive Traction Motor Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Motor Type
• AC Induction Motors
• Brushless Direct Current Motor
• Permanent Magnet Synchronous Motor
• Switched Reluctance Motor
• Power Output
• 200-400 KW
• Above 400 KW
• Less than 200 KW
• EV Type
• Battery Electric Vehicle
• Fuel Cell Electric Vehicle
• Hybrid Electric Vehicle
• Plug-in Hybrid Electric Vehicle
• Vehicle Type
• Commercial Vehicles
• Buses
• Trucks
• Vans
• Passenger Cars

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year