Global EV Traction Motor Market 2023-2027

Global EV Traction Motor Market 2023-2027

Technavio has been monitoring the EV traction motor market and it is poised to grow by $6,960.3 mn during 2023-2027, accelerating at a CAGR of 16.73% during the forecast period. Our report on the EV traction motor market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the increasing sales of EVs, decreasing prices of lithium-ion battery boost adoption of EVs, and the advantages of EV traction motors.

Technavio's EV traction motor market is segmented as below:

By Application

• Railways
• Electric vehicle
• Others

By Power Rating

• Below 200 kW
• 200 to 400 kW
• Above 400 kW

By Geographical Landscape

• APAC
• Europe
• North America
• South America
• Middle East and Africa

This study identifies the rapid development of luxury EVs as one of the prime reasons driving the EV traction motor market growth during the next few years. Also, increase in popularity of e-axle system and increasing development in EV traction motor will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on EV traction motor market covers the following areas:

• Ev traction motor market sizing
• Ev traction motor market forecast
• Ev traction motor market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading EV traction motor market vendors that include ABB Ltd., AC Propulsion Inc., Aisin Corp., Allied Motion Technologies Inc., BorgWarner Inc., Bowe Digital Ltd, Continental AG, Delta Electronics Inc., Hitachi Ltd., LG Magna e Powertrain, MAHLE GmbH, Nidec Corp., Parker Hannifin Corp., Robert Bosch GmbH, Saini Group, Siemens AG, SONA BLW Precision Forgings Ltd., TOSHIBA CORP, Valeo SA, and Yasa Ltd. Also, the EV traction motor market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.