The primary motors used to generate electricity and drive electric vehicles are EV traction motors. They are in charge of converting the electrical energy stored in the car's batteries into the mechanical energy required to turn the wheels. Traction motors, a crucial component of electric drivetrains, contribute greatly to the overall performance of electric cars.
According to SPER market research, ‘EV Traction Motor Market Size- By Motor Type, By Voltage Rating, By Vehicle Type - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global EV Traction Motor Market is predicted to reach USD 177.16 billion by 2033 with a CAGR of 35.56%.
The market for EV Traction Motor is driven by numerous growth drivers and has specific constraints as it develops. Increased investments in electric vehicles (EVs) and increased demand for energy-efficient motors are two important growth factors. The low power consumption and high efficiency of EV traction motors are driving up demand for EVs. Furthermore, rigorous environmental restrictions and emission limits aimed to promote environmental sustainability are increasing demand for EVs, creating favourable conditions for industry expansion.
The growing consumer preference for zero-emission automobiles has increased global sales of hybrid electric vehicles (HEVs). The market is expected to profit from increased HEV output.
Request For Free Sample Report @ https://www.sperresearch.com/report-store/ev-traction-motor-market.aspx?sample=1
The EV Traction Motor industry is now facing a number of serious issues. Overload, inadequate power conditions, particularly effective service elements, frequent starting and stopping of the motor, and a lack of airflow surrounding the motor are all reasons of overheating. Electric motors typically overheat in hot environments. Insulation failure accounts for around 30% of all motor failures, while overheating accounts for 60%. Permanent magnet motors are exceedingly unreliable, and they lose their magnetic properties at high temperatures. Because their permanent magnets demagnetize, the torque capacity of these motors is reduced. As a result, electric motors must function properly in order for this operation to be done.
Impact of COVID-19 on Global EV Traction Motor Market
The COVID-19 epidemic has had a huge impact on the EV traction motor market. Supply chains were first disrupted when production facilities throughout the world briefly shut down or scaled back operations due to lockdowns and limitations. This caused production delays for electric vehicles, particularly those equipped with electric traction motors. Customer demand for EVs declined in the early stages of the epidemic due to the weak economy and decreasing consumer expenditure.
EV Traction Motor Market Key Players
Furthermore, North America has been a prominent Centre for electric car production and innovation, driven by the United States and Canada. Significant investments in EV production and technological development have occurred in the region, fueling demand for sophisticated traction motors. Government incentives, tough emission rules, and a growing consumer desire for electric vehicles all contribute to the market's expansion. Additionally, some of the market key players are ABB Limited, Parker-Hannifin Corp., SKF AB., ZF TRW Automotive Holdings Corporation.
Global EV Traction Motor Market Segmentation:
By Motor Type: Based on the Motor Type, Global EV Traction Motor Market is segmented as; Permanent Magnet Synchronous EV Traction Motors, Asynchronous EV Traction Motors.
By Voltage Rating: Based on the Voltage Rating, Global EV Traction Motor Market is segmented as; High Voltage, Low Voltage.
By Vehicle Type: Based on the Vehicle Type, Global EV Traction Motor Market is segmented as; Electric Vehicles, Plug-in-Hybrid Electric Vehicles, Mild Hybrid Vehicle, Full Hybrid Vehicle.
By Region: This report also provides the data for key regional segments of North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
EV Traction Motor Market Outlook
Related Reports:
Follow Us –
LinkedIn | Instagram | Facebook | Twitter
Contact Us:
Sara Lopes, Business Consultant – USA
SPER Market Research
+1-347-460-289974
The global EV Traction Motor Market is very fragmented due to the presence of a various sizable number of players which forms a competitive environment.
The report entails all-inclusive information related to the newest market updates like new ideas, market size, opportunity, growth path and trends for the forecast period of 2021-2027 to realize competitive edge across the world.
This report also highlights various important strategic mergers and acquisitions, company overview, financial details, and therefore the latest development undertaken.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the EV traction motor market include ABB Limited, Bharat Heavy Electricals Ltd., Magnetic Systems Technology, Parker-Hannifin Corp., SKF AB, Valeo SA, YASA Motors Ltd., ZF TRW Automotive Holdings Corporation and Zytek Group Limited.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global EV Traction Motor Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/ev-traction-motor-market/download-sampleMarket DynamicsRising demand of electric vehicle, increasing spending on the betterment of railways and strict governmental regulation on carbon emission are the prominent factors promoting the market growth.
However, overheating of the motors may hinder the market growth.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
According to the latest study by Fact.MR, global demand of EV traction motor is estimated to exceed US$ 6,000 Mn in 2019, up from US$ 5,391.9 Mn in 2018.
Sales of electric vehicles and hybrid electric vehicles, upheld by a host of technological features and claims of optimal performance, are likely to boost growth of EV traction motor market in 2019 and beyond.
In addition, increasing regulations and norms put in place for effective emission controls are working in favor of hybrid and electric vehicles, paving lucrative avenues for growth of EV traction motor market.Request for the Report Summary: https://www.factmr.com/report/336/ev-traction-motor-marketGovernmental schemes to incentivize and subsidize owners of electric vehicles is a key aspect underpinning growth of EV traction motor market.
Most of these incentives and subsidies include tax exemptions, tax credits, concessions, and additional benefits, which play a vital role in exerting positive influence on customer decision-making.
The EV traction motor industry is likely to benefit from these incentives with regard to revenue generation, finds the report.Automakers Prefer EV Traction Motors with High Voltage RatingsAccording to the research study, energy efficacy is emerging as one of the focal points of automakers, on account of its importance in reducing of greenhouse emissions.
High voltages provide a healthy boost to the efficiency levels, which is a primary reason for automakers preferring motors of high voltage ratings over the ones with low voltage ratings.Request for the Sample of the Report: https://www.factmr.com/connectus/sample?flag=S_id=336Both electric and hybrid electric vehicles are based on high voltage battery systems, which implies that high voltage levels would be required for generation of sufficient power to run the vehicles.
The Global EV Traction Motor Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.The comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.The report classifies the market into different segments based on motor type, voltage rating and vehicle type.
These segments are studied in detail incorporating the market estimates and forecasts at regional and country level.
The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Final Report will cover the impact of COVID-19 on this industry.Browse the complete Global EV Traction Motor Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 @ https://www.decisiondatabases.com/ip/53081-ev-traction-motor-market-reportThe report also covers the complete competitive landscape of the global EV Traction Motor market with company profiles of key players such as:ABB LimitedBharat Heavy Electricals Ltd.Magnetic Systems TechnologyParker-Hannifin Corp.SKF ABValeo SAYASA Motors Ltd.ZF TRW Automotive Holdings CorporationZytek Group LimitedA detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT:By Motor TypePermanent Magnet Synchronous Motor (PMSM)Induction/Asynchronous MotorHybrid Motors (HM)Switched Reluctance Motor (SRM)By Voltage RatingLowHighBy Vehicle TypeElectric VehiclePlug-In Electric VehicleMild Hybrid VehicleFull Hybrid VehiclesBy Geography:North America (NA) – US, Canada, and MexicoEurope (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of EuropeAsia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APACLatin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin AmericaMiddle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South AfricaDownload Free Sample Report of Global EV Traction Motor Market @ https://www.decisiondatabases.com/contact/download-sample-53081The Global EV Traction Motor Market has been exhibited in detail in the following chapters –Chapter 1 EV Traction Motor Market PrefaceChapter 2 Executive SummaryChapter 3 EV Traction Motor Industry AnalysisChapter 4 EV Traction Motor Market Value Chain AnalysisChapter 5 EV Traction Motor Market Analysis By Motor TypeChapter 6 EV Traction Motor Market Analysis By Voltage RatingChapter 7 EV Traction Motor Market Analysis By Vehicle TypeChapter 8 EV Traction Motor Market Analysis By GeographyChapter 9 Competitive Landscape Of EV Traction Motor CompaniesChapter 10 Company Profiles Of EV Traction Motor IndustryPurchase the complete Global EV Traction Motor Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-53081Other Reports by DecisionDatabases.com:Global Inverter Duty Motors Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Automotive Starter Motor Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Servo Drives and Motors Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026About-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
DecisionDatabases.com is proficient in providing syndicated research report, customized research reports, company profiles and industry databases across multiple domains.Our expert research analysts have been trained to map client’s research requirements to the correct research resource leading to a distinctive edge over its competitors.
