PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1763745
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1763745
The Global Automotive Traction Motor Market is estimated to be valued at approximately USD 9.8 billion in 2024 and is poised to grow at a staggering CAGR of 22.80% during the forecast period from 2025 to 2035. With the global automotive industry undergoing a dramatic paradigm shift toward electrification, the demand for traction motors-the critical propulsion component in electric vehicles-is escalating with unprecedented intensity. These motors play an indispensable role in determining vehicle performance, energy efficiency, and driving range. As automakers move to electrify their fleets, from compact passenger cars to heavy-duty commercial trucks, traction motors are emerging as a cornerstone technology reshaping mobility.
Fueled by exponential growth in battery electric vehicles (BEVs), plug-in hybrids (PHEVs), and hybrid electric vehicles (HEVs), the market is witnessing a pronounced pivot toward advanced motor architectures such as Permanent Magnet Synchronous Motors (PMSM) and AC Induction types. Automotive OEMs are intensifying investments in compact, lightweight, and thermally efficient motor solutions that align with their zero-emission goals. The rise of DC and AC traction motor configurations is further accelerating adoption across diverse EV platforms. However, while traction motor development has opened doors to innovation, it has also brought forth challenges such as high rare-earth material costs and heat management constraints, particularly for motors delivering above 400 kW power output.
Regionally, Asia Pacific continues to dominate the traction motor landscape, led by China's aggressive EV mandates, technological leadership in battery manufacturing, and massive investments in domestic electric mobility infrastructure. India, South Korea, and Japan are also rapidly scaling production capacities to meet local and export demand. North America follows closely, driven by government EV subsidies, the U.S.'s Inflation Reduction Act, and rising adoption of electric pickup trucks and commercial EVs. Europe, underpinned by strong climate regulations and OEM electrification targets, is also contributing significantly to traction motor innovation, especially in PMSM adoption in premium EVs and commercial fleets.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below: