PUBLISHER: Value Market Research | PRODUCT CODE: 1361719
PUBLISHER: Value Market Research | PRODUCT CODE: 1361719
The global demand for Automotive Traction Motor Market is presumed to reach the market size of nearly USD 115.1 BN by 2030 from USD 7.32 BN in 2022 with a CAGR of 35.82% under the study period of 2023 - 2030.
An automotive traction motor refers to an electric motor used to drive a vehicle. It is commonly used in passenger cars, electric railway locomotives, elevators, trolleybuses, and roller coasters to move the vehicle forward. As it runs on electricity, it converts electrical energy into mechanical energy for propulsion. It has a high overload capacity and is resistant to voltage fluctuations. It generates high speed, and the maintenance cost is also low. Because of the highly efficient nature of this traction motor, it is increasingly used in different industrial applications.
Automotive Traction Motor market growth looks promising during the projection period from 2021 to 2028. The rising demand for electric vehicles and high-performance motors and favourable government policies on global emissions are the leading market drivers. Technological progress in the electric vehicle segment is another contributor to this growth. A traction motor is a compact, high-performance, energy-efficient, lightweight, cheaper, and easy-to-operate motor and hence it is widely preferred. Electric motor dominates the locomotive segment, and this is another reason for the growth of the automotive traction motor market. Because of the strict global emission norms, there is increasing adoption of Evs, so this will create more opportunities for the future traction motor market.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of automotive traction motor. The growth and trends of Automotive Traction Motor Industry provide a holistic approach to this study.
This section of the automotive traction motor market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Automotive Traction Motor market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Automotive Traction Motor market include BorgWarner Inc. (US), Schaeffler Group (Germany), Nidec Corporation (Japan), Robert Bosch GmbH (Germany), and ZF Friedrichshafen AG (Germany). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.