EV Traction Motor Market
EV Traction Motor Market Analysis by Permanent Magnet Synchronous EV Traction Motors and Asynchronous EV Traction Motors from 2023 to 2033
Analysis of EV Traction Motor Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
EV Traction Motor Market Outlook (2023 to 2033)
According to Fact.MR, the global EV traction motor market is predicted to swell at a CAGR of 25%, rising from its current value of US$ 10.06 billion to US$ 93.72 billion by the end of 2033.
Electric vehicle (EV) traction motors are the primary motors utilized to generate torque and propel electric vehicles. They are in charge of turning electrical energy from the vehicle's batteries into mechanical power to drive the wheels. Traction motors are an essential component of electric drivetrains and play an important role in the overall performance of electric vehicles.
Consumer preferences are shifting toward electric vehicles due to decreased operating costs, less reliance on fossil fuels, and the availability of a wide range of electric vehicle models.
- As per the IEA (International Energy Agency), the global electric car fleet reached 10 million in 2020, with battery electric vehicles (BEVs) representing two-thirds of the total. Europe witnessed the most rapid growth in 2020, with registrations doubling to 1.4 million, making it the world's top electric car industry for the first time. China was second with 1.2 million registrations, and the United States came third with 295,000.
As more people opt for electric vehicles, electric vehicle traction motors demand is increasing. Moreover, major automakers are significantly investing in the development and production of electric vehicles. They are extending their EV portfolios and investing heavily in EV research & development. This investment-driven expansion is propelling the market for EV traction motors.
Development of a robust charging infrastructure is critical for the broad adoption of electric vehicles. Governments, private corporations, and utility providers are all spending extensively on extending public and private charging networks. As charging infrastructure improves, range anxiety lessens, encouraging more consumers to switch to electric vehicles. This, in turn, promotes the expansion of the EV traction motors industry.
The cost of lithium-ion batteries, which are essential components of electric vehicles, has steadily declined over the years. Electric vehicles become more inexpensive as battery costs fall, making them an affordable choice for a bigger consumer base. The increasing affordability and availability of electric vehicles are expected to drive the demand for EV traction motors.
Advancements in motor design, material, and manufacturing processes have boosted the performance and efficiency of EV traction motors. These developments have resulted in motors with increased power density, improved torque characteristics, and decreased weight. As a result, electric vehicles are becoming increasingly enticing to consumers in terms of driving range, acceleration, and overall performance.
| Report Attributes | Details |
|---|---|
|
EV Traction Motor Market Size (2023) |
US$ 10.06 billion |
|
Projected Market Value (2033) |
US$ 93.72 billion |
|
Global Market Growth Rate (2023 to 2033) |
25% CAGR |
|
China Market Value (2033) |
US$ 19.49 billion |
|
High Voltage Segment Growth Rate (2023 to 2033) |
25.5% CAGR |
|
Key Companies Profiled |
|
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What’s Benefiting EV Traction Motor Manufacturers?
“Favorable Government Initiatives and Regulations”
Governments around the world are enacting laws and legislation to minimize greenhouse gas emissions and battle climate change. Many governments have established targets for transitioning to electric vehicles, including incentives such as tax credits, subsidies, and grants to encourage EV adoption.
- For instance, the Indian government has implemented the Faster Adoption and Manufacturing of Electric Vehicles (FAME) India scheme. It provides financial incentives to electric vehicle buyers and manufacturers, promoting the country's adoption and production of EVs.
These activities increase demand for electric vehicles, thereby boosting the sales of EV traction motors.
“Increasing Environmental Awareness Among Customers”
Customers are becoming more conscious of the environmental impact of conventional internal combustion engines. Electric vehicles are seen as a cleaner choice because they emit no exhaust pollution. This environmental consciousness has resulted in an increase in customer interest and demand for electric vehicles, strengthening the market for EV traction motors.
Country-wise Insights
Which Countries are Pushing Asia Pacific Market Growth to New Heights?
“China, Japan, and South Korea Driving Regional Market Growth”
According to Fact.MR, a market research and competitive intelligence provider, the Chinese, Japanese, and South Korean markets are predicted to touch US$ 19.49 billion, US$ 5.71 billion, and US$ 2.99 billion, respectively, by 2033.
China is one of the world's major automobile markets, and the government's emphasis on electric vehicles has spurred domestic demand. Electric vehicles have become a popular choice among Chinese consumers as a result of the rising middle class, increased urbanization, and concerns about air pollution. The considerable domestic market size is fueling the sales growth of EV traction motors in the country.
China has established a strong electric vehicle manufacturing ecosystem, including expertise in motor production. The country has a robust supply chain for critical components such as traction motors. Local manufacturers are creating high-quality, cost-effective electric vehicle traction motors to meet rising domestic and global demand.
Japan has a long history of innovation in the automotive industry and has considerable technological expertise in electric vehicles. Japanese automakers have been pioneers in hybrid and electric car technologies, contributing to the development of efficient and dependable EV traction motors. The technological superiority of Japanese firms is bolstering the country's market growth. Moreover, Japan has a strong research and development culture, with major investments in EV-related technologies. Leading universities, research institutions, and corporations are actively involved in the development of improved electric vehicle technologies, including traction motors.
With top automakers and technology businesses actively involved in electric vehicle production, South Korea has a strong position in the global electric vehicle market. Companies such as Hyundai, Kia, and LG Chem have invested heavily in electric vehicle technologies, particularly traction motors.
Why are EV Traction Motors in High Demand in the United States?
“Huge Government Support and Incentives for EVs”
The market for EV traction motors in the United States is estimated to achieve US$ 19.49 billion by 2033.
The federal government of the United States and many state governments have enacted regulations and incentives to encourage the use of electric vehicles. These policies include tax credits, rebates, grants, and subsidies to help consumers finance electric vehicles. The availability of these incentives promotes the expansion of the EV sector, increasing the demand for EV traction motors.
The market is also benefitting from the stricter emissions standards in the country. To minimize greenhouse gas emissions and improve air quality, the United States has enacted strict emissions rules. Automobile manufacturers must adhere to Corporate Average Fuel Economy (CAFE) regulations as well as Zero Emission Vehicle (ZEV) mandates. These laws encourage automakers to produce more electric vehicles, raising the demand for EV traction motors.
The United States is a hub for technological developments and R&D in the electric vehicle industry. The country's leading vehicle manufacturers, technological firms, and research organizations are actively involved in developing and enhancing EV traction motor technologies. This emphasis on innovation and R&D accelerates the country's market growth.
How are Sales of EV Traction Motors Shaping Up in Germany?
“Germany to Witness Strong Sales Growth Due to Increasing Popularity of EVs”
Sales of EV traction motors in Germany are forecasted to reach US$ 8.52 billion by 2023.
Germany has a thriving automobile industry, with well-known brands such as Volkswagen, BMW, and Mercedes-Benz. These corporations have realized the significance of electric vehicles and have made heavy investments in EV technology and production. The German automobile industry's dedication to electric mobility is supporting the sales growth of EV traction motors in the country.
Germany is well-known for its technical and technological prowess, which extends to the electric vehicle industry. German companies have led the way in the development of innovative electric vehicle technologies, such as high-performance traction motors. Furthermore, Germany has been actively extending its charging infrastructure network to facilitate the growing number of electric vehicles. The presence of a well-developed charging infrastructure alleviates range anxiety and boosts consumer trust in electric vehicles. The demand for electric vehicles, including EV traction motors, increases as the charging infrastructure improves.
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Category-wise Insights
Why are High Voltage EV Traction Motors Outselling Low Voltage Variants?
“Preferred for Higher Power, Torque, and Enhanced Efficiency”
Demand for high voltage EV traction motors is expected to rise at a CAGR of 25.5% over the next ten years.
High voltage systems enable traction motors to provide more power and torque. This allows electric vehicles to attain greater acceleration, performance, and towing capacity. The growing demand for high-performance electric vehicles with superior power and torque is driving the need for high voltage traction motors.
These systems can improve the efficiency of electric vehicles. Higher voltages allow for less current flow, which results in fewer resistive losses and greater system efficiency. High voltage traction motors help to expand the driving range and improve the energy efficiency of electric vehicles by minimizing energy losses.
High voltage systems can also facilitate the use of lightweight and compact motor designs. Higher voltage levels can minimize the current required to produce the specified power output. This enables the use of smaller and lighter conductors, which reduces the weight and size of the motor. Compact and lightweight traction motors are advantageous for electric vehicles because they improve overall efficiency and optimize vehicle weight distribution.
Competitive Landscape
Key players in the EV traction motor market are pursuing strategies such as acquisitions, partnerships, investments, technological innovations, and new product developments to gain market share.
- NIDEC CORPORATION introduced two new traction motor systems in February 2020: the 200 kW Ni200Ex and 50 kW Ni50Ex, both of which are centered on the firm's original 150 kW E-Axle (completely integrated traction motor system with reduction gearbox, electric motor, and inverter).
- NIDEC CORPORATION increased its footprint in February 2020 by opening three new production units in Poland, Mexico, and China. These factories produce millions of electric motors at considerably lower costs.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Key Segments of EV Traction Motor Industry Research
-
By Motor Type :
- Permanent Magnet Synchronous EV Traction Motors
- Asynchronous EV Traction Motors
-
By Voltage Rating :
- High Voltage
- Low Voltage
-
By Vehicle Type :
- Electric Vehicles
- Plug-in Hybrid Electric Vehicles
- Mild Hybrid Vehicles
- Full Hybrid Vehicles
-
By Region :
- North America
- Latin America
- Europe
- Asia Pacific & China
- Middle East & Africa
Table of Content
1. Global Market - Executive Summary 2. Global Market Overview 2.1. Introduction 2.1.1. Global Market Taxonomy 2.1.2. Global Market Definition 2.2. Global Market Size (US$ Mn) and Forecast, 2018-2033 2.2.1. Global Market Y-o-Y Growth 2.3. Global 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$) 2.11. Benefits of Selling to Different Manufacturers 2.12. Key Participants Market Presence (Intensity Map) By Region 3. Global Market Analysis and Forecast 2018-2033 3.1. Global Market Size and Forecast By Motor Type, 2018-2033 3.1.1. Permanent Magnet Synchronous Motors (PMSM) Market Size and Forecast, 2018-2033 3.1.1.1. Revenue (US$ 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, 2018-2033 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 3.1.3. Hybrid Motors (HM) Market Size and Forecast, 2018-2033 3.1.3.1. Revenue (US$ Mn) Comparison, By Region 3.1.3.2. Market Share Comparison, By Region 3.1.3.3. Y-o-Y growth Comparison, By Region 3.1.4. Switched Reluctance Motor (SRM) Market Size and Forecast, 2018-2033 3.1.4.1. Revenue (US$ Mn) Comparison, By Region 3.1.4.2. Market Share Comparison, By Region 3.1.4.3. Y-o-Y growth Comparison, By Region 3.2. Global Market Size and Forecast By Voltage Rating, 2018-2033 3.2.1. Low Market Size and Forecast, 2018-2033 3.2.1.1. Revenue (US$ Mn) Comparison, By Region 3.2.1.2. Market Share Comparison, By Region 3.2.1.3. Y-o-Y growth Comparison, By Region 3.2.2. High Market Size and Forecast, 2018-2033 3.2.2.1. Revenue (US$ Mn) Comparison, By Region 3.2.2.2. Market Share Comparison, By Region 3.2.2.3. Y-o-Y growth Comparison, By Region 3.3. Global Market Size and Forecast By Vehicle Type, 2018-2033 3.3.1. Electric Vehicles Market Size and Forecast, 2018-2033 3.3.1.1. Revenue (US$ Mn) Comparison, By Region 3.3.1.2. Market Share Comparison, By Region 3.3.1.3. Y-o-Y growth Comparison, By Region 3.3.2. Plug-in Hybrid Electric Vehicles Market Size and Forecast, 2018-2033 3.3.2.1. Revenue (US$ Mn) Comparison, By Region 3.3.2.2. Market Share Comparison, By Region 3.3.2.3. Y-o-Y growth Comparison, By Region 3.3.3. Mild Hybrid Vehicles Market Size and Forecast, 2018-2033 3.3.3.1. Revenue (US$ Mn) Comparison, By Region 3.3.3.2. Market Share Comparison, By Region 3.3.3.3. Y-o-Y growth Comparison, By Region 3.3.4. Full Hybrid Vehicles Market Size and Forecast, 2018-2033 3.3.4.1. Revenue (US$ Mn) Comparison, By Region 3.3.4.2. Market Share Comparison, By Region 3.3.4.3. Y-o-Y growth Comparison, By Region 4. North America Market Size and Forecast, 2018-2033 4.1. Revenue (US$ Mn) Comparison, By Country 4.2. Revenue (US$ Mn) Comparison, By Motor Type 4.3. Revenue (US$ Mn) Comparison, By Voltage Rating 4.4. Revenue (US$ Mn) Comparison, By Vehicle Type 5. Latin America Market Size and Forecast, 2018-2033 5.1. Revenue (US$ Mn) Comparison, By Country 5.2. Revenue (US$ Mn) Comparison, By Motor Type 5.3. Revenue (US$ Mn) Comparison, By Voltage Rating 5.4. Revenue (US$ Mn) Comparison, By Vehicle Type 6. Europe Market Size and Forecast, 2018-2033 6.1. Revenue (US$ Mn) Comparison, By Country 6.2. Revenue (US$ Mn) Comparison, By Motor Type 6.3. Revenue (US$ Mn) Comparison, By Voltage Rating 6.4. Revenue (US$ Mn) Comparison, By Vehicle Type 7. East Asia Market Size and Forecast, 2018-2033 7.1. Revenue (US$ Mn) Comparison, By Country 7.2. Revenue (US$ Mn) Comparison, By Motor Type 7.3. Revenue (US$ Mn) Comparison, By Voltage Rating 7.4. Revenue (US$ Mn) Comparison, By Vehicle Type 8. South Asia & Oceania Market Size and Forecast, 2018-2033 8.1. Revenue (US$ Mn) Comparison, By Country 8.2. Revenue (US$ Mn) Comparison, By Motor Type 8.3. Revenue (US$ Mn) Comparison, By Voltage Rating 8.4. Revenue (US$ Mn) Comparison, By Vehicle Type 9. MEA Market Size and Forecast, 2018-2033 9.1. Revenue (US$ Mn) Comparison, By Country 9.2. Revenue (US$ Mn) Comparison, By Motor Type 9.3. Revenue (US$ Mn) Comparison, By Voltage Rating 9.4. Revenue (US$ Mn) Comparison, By Vehicle Type 10. Global Market Company Share, Competition Landscape and Company Profiles 10.1. Company Share Analysis 10.2. Competition Landscape 10.3. Company Profiles 10.3.1. ABB Limited 10.3.2. Bharat Heavy Electricals Ltd. 10.3.3. Magnetic Systems Technology 10.3.4. Parker-Hannifin Corp. 10.3.5. SKF AB 10.3.6. Valeo SA 10.3.7. YASA Motors Ltd 10.3.8. ZF TRW Automotive Holdings Corporation 10.3.9. Zytek Group Limited 11. Research Methodology 12. Secondary and Primary Sources 13. Assumptions and Acronyms 14. Disclaimer
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List Of Table
TABLE 01: Global Market Value (US$ Mn), 2018-2022
TABLE 02: Global Market Value (US$ Mn), 2023-2033
TABLE 03: Global Market Value (US$ Mn) and Y-o-Y, 2018-2033
TABLE 04: Global Permanent Magnet Synchronous Motors (PMSM) Segment Value (US$ Mn), By Region 2018-2022
TABLE 05: Global Permanent Magnet Synchronous Motors (PMSM) Segment Value (US$ Mn), By Region 2023-2033
TABLE 06: Global Permanent Magnet Synchronous Motors (PMSM) Segment Market Share, By Region 2018-2022
TABLE 07: Global Permanent Magnet Synchronous Motors (PMSM) Segment Market Share, By Region 2023-2033
TABLE 08: Global Permanent Magnet Synchronous Motors (PMSM) Segment Y-o-Y, By Region 2018-2033
TABLE 09: Global Induction/Asynchronous Motors (IM) Segment Value (US$ Mn), By Region 2018-2022
TABLE 10: Global Induction/Asynchronous Motors (IM) Segment Value (US$ Mn), By Region 2023-2033
TABLE 11: Global Induction/Asynchronous Motors (IM) Segment Market Share, By Region 2018-2022
TABLE 12: Global Induction/Asynchronous Motors (IM) Segment Market Share, By Region 2023-2033
TABLE 13: Global Induction/Asynchronous Motors (IM) Segment Y-o-Y, By Region 2018-2033
TABLE 14: Global Hybrid Motors (HM) Segment Value (US$ Mn), By Region 2018-2022
TABLE 15: Global Hybrid Motors (HM) Segment Value (US$ Mn), By Region 2023-2033
TABLE 16: Global Hybrid Motors (HM) Segment Market Share, By Region 2018-2022
TABLE 17: Global Hybrid Motors (HM) Segment Market Share, By Region 2023-2033
TABLE 18: Global Hybrid Motors (HM) Segment Y-o-Y, By Region 2018-2033
TABLE 19: Global Switched Reluctance Motor (SRM) Segment Value (US$ Mn), By Region 2018-2022
TABLE 20: Global Switched Reluctance Motor (SRM) Segment Value (US$ Mn), By Region 2023-2033
TABLE 21: Global Switched Reluctance Motor (SRM) Segment Market Share, By Region 2018-2022
TABLE 22: Global Switched Reluctance Motor (SRM) Segment Market Share, By Region 2023-2033
TABLE 23: Global Switched Reluctance Motor (SRM) Segment Y-o-Y, By Region 2018-2033
TABLE 24: Global Low Segment Value (US$ Mn), By Region 2018-2022
TABLE 25: Global Low Segment Value (US$ Mn), By Region 2023-2033
TABLE 26: Global Low Segment Market Share, By Region 2018-2022
TABLE 27: Global Low Segment Market Share, By Region 2023-2033
TABLE 28: Global Low Segment Y-o-Y, By Region 2018-2033
TABLE 29: Global High Segment Value (US$ Mn), By Region 2018-2022
TABLE 30: Global High Segment Value (US$ Mn), By Region 2023-2033
TABLE 31: Global High Segment Market Share, By Region 2018-2022
TABLE 32: Global High Segment Market Share, By Region 2023-2033
TABLE 33: Global High Segment Y-o-Y, By Region 2018-2033
TABLE 34: Global Electric Vehicles Segment Value (US$ Mn), By Region 2018-2022
TABLE 35: Global Electric Vehicles Segment Value (US$ Mn), By Region 2023-2033
TABLE 36: Global Electric Vehicles Segment Market Share, By Region 2018-2022
TABLE 37: Global Electric Vehicles Segment Market Share, By Region 2023-2033
TABLE 38: Global Electric Vehicles Segment Y-o-Y, By Region 2018-2033
TABLE 39: Global Plug-in Hybrid Electric Vehicles Segment Value (US$ Mn), By Region 2018-2022
TABLE 40: Global Plug-in Hybrid Electric Vehicles Segment Value (US$ Mn), By Region 2023-2033
TABLE 41: Global Plug-in Hybrid Electric Vehicles Segment Market Share, By Region 2018-2022
TABLE 42: Global Plug-in Hybrid Electric Vehicles Segment Market Share, By Region 2023-2033
TABLE 43: Global Plug-in Hybrid Electric Vehicles Segment Y-o-Y, By Region 2018-2033
TABLE 44: Global Mild Hybrid Vehicles Segment Value (US$ Mn), By Region 2018-2022
TABLE 45: Global Mild Hybrid Vehicles Segment Value (US$ Mn), By Region 2023-2033
TABLE 46: Global Mild Hybrid Vehicles Segment Market Share, By Region 2018-2022
TABLE 47: Global Mild Hybrid Vehicles Segment Market Share, By Region 2023-2033
TABLE 48: Global Mild Hybrid Vehicles Segment Y-o-Y, By Region 2018-2033
TABLE 49: Global Full Hybrid Vehicles Segment Value (US$ Mn), By Region 2018-2022
TABLE 50: Global Full Hybrid Vehicles Segment Value (US$ Mn), By Region 2023-2033
TABLE 51: Global Full Hybrid Vehicles Segment Market Share, By Region 2018-2022
TABLE 52: Global Full Hybrid Vehicles Segment Market Share, By Region 2023-2033
TABLE 53: Global Full Hybrid Vehicles Segment Y-o-Y, By Region 2018-2033
TABLE 54: North America Market Value (US$ Mn), By Country 2018-2022
TABLE 55: North America Market Value (US$ Mn), By Country 2023-2033
TABLE 56: North America Market Value (US$ Mn), By Motor Type 2018-2022
TABLE 57: North America Market Value (US$ Mn), By Motor Type 2023-2033
TABLE 58: North America Market Value (US$ Mn), By Voltage Rating 2018-2022
TABLE 59: North America Market Value (US$ Mn), By Voltage Rating 2023-2033
TABLE 60: North America Market Value (US$ Mn), By Vehicle Type 2018-2022
TABLE 61: North America Market Value (US$ Mn), By Vehicle Type 2023-2033
TABLE 62: Latin America Market Value (US$ Mn), By Country 2018-2022
TABLE 63: Latin America Market Value (US$ Mn), By Country 2023-2033
TABLE 64: Latin America Market Value (US$ Mn), By Motor Type 2018-2022
TABLE 65: Latin America Market Value (US$ Mn), By Motor Type 2023-2033
TABLE 66: Latin America Market Value (US$ Mn), By Voltage Rating 2018-2022
TABLE 67: Latin America Market Value (US$ Mn), By Voltage Rating 2023-2033
TABLE 68: Latin America Market Value (US$ Mn), By Vehicle Type 2018-2022
TABLE 69: Latin America Market Value (US$ Mn), By Vehicle Type 2023-2033
TABLE 70: Europe Market Value (US$ Mn), By Country 2018-2022
TABLE 71: Europe Market Value (US$ Mn), By Country 2023-2033
TABLE 72: Europe Market Value (US$ Mn), By Motor Type 2018-2022
TABLE 73: Europe Market Value (US$ Mn), By Motor Type 2023-2033
TABLE 74: Europe Market Value (US$ Mn), By Voltage Rating 2018-2022
TABLE 75: Europe Market Value (US$ Mn), By Voltage Rating 2023-2033
TABLE 76: Europe Market Value (US$ Mn), By Vehicle Type 2018-2022
TABLE 77: Europe Market Value (US$ Mn), By Vehicle Type 2023-2033
TABLE 78: East Asia Market Value (US$ Mn), By Country 2018-2022
TABLE 79: East Asia Market Value (US$ Mn), By Country 2023-2033
TABLE 80: East Asia Market Value (US$ Mn), By Motor Type 2018-2022
TABLE 81: East Asia Market Value (US$ Mn), By Motor Type 2023-2033
TABLE 82: East Asia Market Value (US$ Mn), By Voltage Rating 2018-2022
TABLE 83: East Asia Market Value (US$ Mn), By Voltage Rating 2023-2033
TABLE 84: East Asia Market Value (US$ Mn), By Vehicle Type 2018-2022
TABLE 85: East Asia Market Value (US$ Mn), By Vehicle Type 2023-2033
TABLE 86: South Asia & Oceania Market Value (US$ Mn), By Country 2018-2022
TABLE 87: South Asia & Oceania Market Value (US$ Mn), By Country 2023-2033
TABLE 88: South Asia & Oceania Market Value (US$ Mn), By Motor Type 2018-2022
TABLE 89: South Asia & Oceania Market Value (US$ Mn), By Motor Type 2023-2033
TABLE 90: South Asia & Oceania Market Value (US$ Mn), By Voltage Rating 2018-2022
TABLE 91: South Asia & Oceania Market Value (US$ Mn), By Voltage Rating 2023-2033
TABLE 92: South Asia & Oceania Market Value (US$ Mn), By Vehicle Type 2018-2022
TABLE 93: South Asia & Oceania Market Value (US$ Mn), By Vehicle Type 2023-2033
TABLE 94: MEA Market Value (US$ Mn), By Country 2018-2022
TABLE 95: MEA Market Value (US$ Mn), By Country 2023-2033
TABLE 96: MEA Market Value (US$ Mn), By Motor Type 2018-2022
TABLE 97: MEA Market Value (US$ Mn), By Motor Type 2023-2033
TABLE 98: MEA Market Value (US$ Mn), By Voltage Rating 2018-2022
TABLE 99: MEA Market Value (US$ Mn), By Voltage Rating 2023-2033
TABLE 100: MEA Market Value (US$ Mn), By Vehicle Type 2018-2022
TABLE 101: MEA Market Value (US$ Mn), By Vehicle Type 2023-2033
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List Of Figures
FIG. 01: Global Market Value (US$ Mn), 2018-2022
FIG. 02: Global Market Value (US$ Mn) Forecast, 2023-2033
FIG. 03: Global Market Value (US$ Mn) and Y-o-Y, 2018-2033
FIG. 04: Global Permanent Magnet Synchronous Motors (PMSM) Segment Market Value (US$ Mn) By Region, 2018-2022
FIG. 05: Global Permanent Magnet Synchronous Motors (PMSM) Segment Market Value (US$ Mn) By Region, 2023-2033
FIG. 06: Global Permanent Magnet Synchronous Motors (PMSM) Segment Y-o-Y Growth Rate, By Region, 2018-2033
FIG. 07: Global Induction/Asynchronous Motors (IM) Segment Market Value (US$ Mn) By Region, 2018-2022
FIG. 08: Global Induction/Asynchronous Motors (IM) Segment Market Value (US$ Mn) By Region, 2023-2033
FIG. 09: Global Induction/Asynchronous Motors (IM) Segment Y-o-Y Growth Rate, By Region, 2018-2033
FIG. 10: Global Hybrid Motors (HM) Segment Market Value (US$ Mn) By Region, 2018-2022
FIG. 11: Global Hybrid Motors (HM) Segment Market Value (US$ Mn) By Region, 2023-2033
FIG. 12: Global Hybrid Motors (HM) Segment Y-o-Y Growth Rate, By Region, 2018-2033
FIG. 13: Global Switched Reluctance Motor (SRM) Segment Market Value (US$ Mn) By Region, 2018-2022
FIG. 14: Global Switched Reluctance Motor (SRM) Segment Market Value (US$ Mn) By Region, 2023-2033
FIG. 15: Global Switched Reluctance Motor (SRM) Segment Y-o-Y Growth Rate, By Region, 2018-2033
FIG. 16: Global Low Segment Market Value (US$ Mn) By Region, 2018-2022
FIG. 17: Global Low Segment Market Value (US$ Mn) By Region, 2023-2033
FIG. 18: Global Low Segment Y-o-Y Growth Rate, By Region, 2018-2033
FIG. 19: Global High Segment Market Value (US$ Mn) By Region, 2018-2022
FIG. 20: Global High Segment Market Value (US$ Mn) By Region, 2023-2033
FIG. 21: Global High Segment Y-o-Y Growth Rate, By Region, 2018-2033
FIG. 22: Global Electric Vehicles Segment Market Value (US$ Mn) By Region, 2018-2022
FIG. 23: Global Electric Vehicles Segment Market Value (US$ Mn) By Region, 2023-2033
FIG. 24: Global Electric Vehicles Segment Y-o-Y Growth Rate, By Region, 2018-2033
FIG. 25: Global Plug-in Hybrid Electric Vehicles Segment Market Value (US$ Mn) By Region, 2018-2022
FIG. 26: Global Plug-in Hybrid Electric Vehicles Segment Market Value (US$ Mn) By Region, 2023-2033
FIG. 27: Global Plug-in Hybrid Electric Vehicles Segment Y-o-Y Growth Rate, By Region, 2018-2033
FIG. 28: Global Mild Hybrid Vehicles Segment Market Value (US$ Mn) By Region, 2018-2022
FIG. 29: Global Mild Hybrid Vehicles Segment Market Value (US$ Mn) By Region, 2023-2033
FIG. 30: Global Mild Hybrid Vehicles Segment Y-o-Y Growth Rate, By Region, 2018-2033
FIG. 31: Global Full Hybrid Vehicles Segment Market Value (US$ Mn) By Region, 2018-2022
FIG. 32: Global Full Hybrid Vehicles Segment Market Value (US$ Mn) By Region, 2023-2033
FIG. 33: Global Full Hybrid Vehicles Segment Y-o-Y Growth Rate, By Region, 2018-2033
FIG. 34: North America Market Value (US$ Mn), By Country 2018-2022
FIG. 35: North America Market Value (US$ Mn), By Country 2023-2033
FIG. 36: North America Market Value (US$ Mn), By Motor Type 2018-2022
FIG. 37: North America Market Value (US$ Mn), By Motor Type 2023-2033
FIG. 38: North America Market Value (US$ Mn), By Voltage Rating 2018-2022
FIG. 39: North America Market Value (US$ Mn), By Voltage Rating 2023-2033
FIG. 40: North America Market Value (US$ Mn), By Vehicle Type 2018-2022
FIG. 41: North America Market Value (US$ Mn), By Vehicle Type 2023-2033
FIG. 42: Latin America Market Value (US$ Mn), By Country 2018-2022
FIG. 43: Latin America Market Value (US$ Mn), By Country 2023-2033
FIG. 44: Latin America Market Value (US$ Mn), By Motor Type 2018-2022
FIG. 45: Latin America Market Value (US$ Mn), By Motor Type 2023-2033
FIG. 46: Latin America Market Value (US$ Mn), By Voltage Rating 2018-2022
FIG. 47: Latin America Market Value (US$ Mn), By Voltage Rating 2023-2033
FIG. 48: Latin America Market Value (US$ Mn), By Vehicle Type 2018-2022
FIG. 49: Latin America Market Value (US$ Mn), By Vehicle Type 2023-2033
FIG. 50: Europe Market Value (US$ Mn), By Country 2018-2022
FIG. 51: Europe Market Value (US$ Mn), By Country 2023-2033
FIG. 52: Europe Market Value (US$ Mn), By Motor Type 2018-2022
FIG. 53: Europe Market Value (US$ Mn), By Motor Type 2023-2033
FIG. 54: Europe Market Value (US$ Mn), By Voltage Rating 2018-2022
FIG. 55: Europe Market Value (US$ Mn), By Voltage Rating 2023-2033
FIG. 56: Europe Market Value (US$ Mn), By Vehicle Type 2018-2022
FIG. 57: Europe Market Value (US$ Mn), By Vehicle Type 2023-2033
FIG. 58: East Asia Market Value (US$ Mn), By Country 2018-2022
FIG. 59: East Asia Market Value (US$ Mn), By Country 2023-2033
FIG. 60: East Asia Market Value (US$ Mn), By Motor Type 2018-2022
FIG. 61: East Asia Market Value (US$ Mn), By Motor Type 2023-2033
FIG. 62: East Asia Market Value (US$ Mn), By Vehicle Type 2018-2022
FIG. 63: East Asia Market Value (US$ Mn), By Voltage Rating 2023-2033
FIG. 64: East Asia Market Value (US$ Mn), By Vehicle Type 2018-2022
FIG. 65: East Asia Market Value (US$ Mn), By Vehicle Type 2023-2033
FIG. 66: South Asia & Oceania Market Value (US$ Mn), By Country 2018-2022
FIG. 67: South Asia & Oceania Market Value (US$ Mn), By Country 2023-2033
FIG. 68: South Asia & Oceania Market Value (US$ Mn), By Motor Type 2018-2022
FIG. 69: South Asia & Oceania Market Value (US$ Mn), By Motor Type 2023-2033
FIG. 70: South Asia & Oceania Market Value (US$ Mn), By Voltage Rating 2018-2022
FIG. 71: South Asia & Oceania Market Value (US$ Mn), By Voltage Rating 2023-2033
FIG. 72: South Asia & Oceania Market Value (US$ Mn), By Vehicle Type 2018-2022
FIG. 73: South Asia & Oceania Market Value (US$ Mn), By Vehicle Type 2023-2033
FIG. 74: MEA Market Value (US$ Mn), By Country 2018-2022
FIG. 75: MEA Market Value (US$ Mn), By Country 2023-2033
FIG. 76: MEA Market Value (US$ Mn), By Motor Type 2018-2022
FIG. 77: MEA Market Value (US$ Mn), By Motor Type 2023-2033
FIG. 78: MEA Market Value (US$ Mn), By Voltage Rating 2018-2022
FIG. 79: MEA Market Value (US$ Mn), By Voltage Rating 2023-2033
FIG. 80: MEA Market Value (US$ Mn), By Vehicle Type 2018-2022
FIG. 81: MEA Market Value (US$ Mn), By Vehicle Type 2023-2033
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- FAQs -
What is the market value of the EV traction motor market in 2023?
The global EV traction motor market is worth US$ 10.06 billion in 2023.
What is the predicted growth rate of the global market?
Worldwide demand for EV traction motors is forecasted to expand at a CAGR of 25% during the forecast period.
What is the forecasted size of the global market for 2033?
The market for EV traction motors is set to garner US$ 93.72 billion by 2033.
At what CAGR is the demand for high voltage EV traction motors predicted to expand?
Demand for high voltage EV traction motors is poised to soar at a CAGR of 25.5% from 2023 to 2033.
What is the projected Chinese market value for 2033?
The Chinese market is anticipated to touch US$ 19.49 billion by the end of 2033.
EV Traction Motor Market