Global Electric Commercial Vehicle Traction Motor Market Size Study & Forecast, by Application, Type, Power Rating, and Regional Forecasts 2025-2035

Description

The Global Electric Commercial Vehicle Traction Motor Market is estimated to be worth USD 14.61 billion in 2024 and is projected to grow at a staggering CAGR of 15.68% during the forecast period of 2025 to 2035, ultimately reaching USD 72.53 billion by 2035. As the global transportation ecosystem moves rapidly toward electrification, traction motors have become the powerhouse of electric commercial mobility, propelling everything from heavy-duty trucks and buses to light-duty vans and specialized utility vehicles. These motors convert electrical energy into mechanical motion with precision, enabling not only efficient propulsion but also energy regeneration, thereby extending vehicle range and enhancing overall system efficiency.

The acceleration in e-mobility initiatives, coupled with stringent regulatory frameworks focused on reducing carbon emissions, has pushed automakers and logistics companies alike to adopt electric commercial fleets. This demand surge has underscored the importance of traction motor technologies such as permanent magnet synchronous motors (PMSM), which are lauded for their high power density and efficiency. Meanwhile, induction motors and switched reluctance motors are being increasingly explored for cost-effectiveness and robustness in heavy-duty applications. Notably, advancements in cooling methods-including liquid and water cooling-are empowering manufacturers to design compact motors that dissipate heat more effectively while optimizing continuous power delivery, particularly in high-load, long-haul commercial scenarios.

From a regional standpoint, North America is poised to be a key contributor to revenue, driven by government-backed electrification mandates, expanding charging infrastructure, and aggressive fleet electrification commitments from companies like Amazon, FedEx, and UPS. Europe follows closely, leveraging its firm legislative stance on climate neutrality and a strong foundation of automotive OEMs heavily investing in clean commercial mobility. However, Asia Pacific is projected to dominate the growth curve, with China leading the charge through robust electric bus and truck adoption, supported by generous subsidies, battery technology hubs, and cost-effective production capabilities. India and Southeast Asian markets are also emerging as pivotal arenas for electric logistics transformation.

Major market player included in this report are:

Robert Bosch GmbH
Nidec Corporation
BorgWarner Inc.
Siemens AG
ABB Ltd.
ZF Friedrichshafen AG
Dana Incorporated
Hitachi Astemo, Ltd.
Toshiba Corporation
Hyundai Mobis Co., Ltd.
Magna International Inc.
WEG Industries
Mahle GmbH
Continental AG
BYD Co. Ltd.

Global Electric Commercial Vehicle Traction Motor Market Report Scope:

Historical Data - 2023, 2024
Base Year for Estimation - 2024
Forecast period - 2025-2035
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

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:

By Application:

Buses
Trucks
Vans
Specialty Vehicles

By Type:

Permanent Magnet Synchronous Motor (PMSM)
Induction Motor
Switched Reluctance Motor

By Power Rating:

Less than 100 kW
100 kW to 200 kW
200 kW to 300 kW
Above 300 kW

By Cooling Method:

Air-Cooled
Liquid-Cooled
Water-Cooled

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa

Key Takeaways:

Market Estimates & Forecast for 10 years from 2025 to 2035.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Electric Commercial Vehicle Traction Motor Market Report Scope & Methodology

1.1. Research Objective
1.2. Research Methodology
- 1.2.1. Forecast Model
- 1.2.2. Desk Research
- 1.2.3. Top-Down and Bottom-Up Approach
1.3. Research Attributes
1.4. Scope of the Study
- 1.4.1. Market Definition
- 1.4.2. Market Segmentation
1.5. Research Assumption
- 1.5.1. Inclusion & Exclusion
- 1.5.2. Limitations
- 1.5.3. Years Considered for the Study

Chapter 2. Executive Summary

2.1. CEO/CXO Standpoint
2.2. Strategic Insights
2.3. ESG Analysis
2.4. Key Findings

Chapter 3. Global Electric Commercial Vehicle Traction Motor Market Forces Analysis

3.1. Market Forces Shaping the Global Market (2024-2035)
3.2. Drivers
- 3.2.1. Regulatory Push for Fleet Electrification
- 3.2.2. Advances in High-Efficiency Motor Technologies
3.3. Restraints
- 3.3.1. High Up-Front Cost of Traction Motors
- 3.3.2. Limitations in Charging and Cooling Infrastructure
3.4. Opportunities
- 3.4.1. Emergence of Switched Reluctance Motors for Heavy-Duty Use
- 3.4.2. Expansion of Electric Logistics in Emerging Economies

Chapter 4. Global Electric Commercial Vehicle Traction Motor Industry Analysis

4.1. Porter's Five Forces Model
- 4.1.1. Bargaining Power of Buyers
- 4.1.2. Bargaining Power of Suppliers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's Five Forces Forecast Model (2024-2035)
4.3. PESTEL Analysis
- 4.3.1. Political
- 4.3.2. Economic
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top Investment Opportunities
4.5. Top Winning Strategies (2025)
4.6. Market Share Analysis (2024-2025)
4.7. Global Pricing Analysis and Trends 2025
4.8. Analyst Recommendation & Conclusion

Chapter 5. Global Market Size & Forecasts by Type 2025-2035

5.1. Market Overview
5.2. Permanent Magnet Synchronous Motor
- 5.2.1. Top Regions Breakdown Estimates & Forecasts, 2024-2035
- 5.2.2. Regional Market Size Analysis, 2025-2035
5.3. Induction Motor
- 5.3.1. Top Regions Breakdown Estimates & Forecasts, 2024-2035
- 5.3.2. Regional Market Size Analysis, 2025-2035
5.4. Switched Reluctance Motor
- 5.4.1. Top Regions Breakdown Estimates & Forecasts, 2024-2035
- 5.4.2. Regional Market Size Analysis, 2025-2035

Chapter 6. Global Market Size & Forecasts by Application 2025-2035

6.1. Market Overview
6.2. Buses
- 6.2.1. Top Regions Breakdown Estimates & Forecasts, 2024-2035
- 6.2.2. Regional Market Size Analysis, 2025-2035
6.3. Trucks
- 6.3.1. Top Regions Breakdown Estimates & Forecasts, 2024-2035
- 6.3.2. Regional Market Size Analysis, 2025-2035
6.4. Vans & Specialty Vehicles
- 6.4.1. Top Regions Breakdown Estimates & Forecasts, 2024-2035
- 6.4.2. Regional Market Size Analysis, 2025-2035

Chapter 7. Global Market Size & Forecasts by Region 2025-2035

7.1. Regional Market Snapshot
7.2. Top Leading & Emerging Countries
7.3. North America Market
- 7.3.1. U.S. Market
  - 7.3.1.1. Type Breakdown & Forecasts, 2025-2035
  - 7.3.1.2. Application Breakdown & Forecasts, 2025-2035
- 7.3.2. Canada Market
  - 7.3.2.1. Type Breakdown & Forecasts, 2025-2035
  - 7.3.2.2. Application Breakdown & Forecasts, 2025-2035
7.4. Europe Market
- 7.4.1. UK Market
  - 7.4.1.1. Type Breakdown & Forecasts, 2025-2035
  - 7.4.1.2. Application Breakdown & Forecasts, 2025-2035
- 7.4.2. Germany Market
  - 7.4.2.1. Type Breakdown & Forecasts, 2025-2035
  - 7.4.2.2. Application Breakdown & Forecasts, 2025-2035
- 7.4.3. France Market
  - 7.4.3.1. Type Breakdown & Forecasts, 2025-2035
  - 7.4.3.2. Application Breakdown & Forecasts, 2025-2035
- 7.4.4. Spain Market
  - 7.4.4.1. Type Breakdown & Forecasts, 2025-2035
  - 7.4.4.2. Application Breakdown & Forecasts, 2025-2035
- 7.4.5. Italy Market
  - 7.4.5.1. Type Breakdown & Forecasts, 2025-2035
  - 7.4.5.2. Application Breakdown & Forecasts, 2025-2035
- 7.4.6. Rest of Europe Market
  - 7.4.6.1. Type Breakdown & Forecasts, 2025-2035
  - 7.4.6.2. Application Breakdown & Forecasts, 2025-2035
7.5. Asia Pacific Market
- 7.5.1. China Market
  - 7.5.1.1. Type Breakdown & Forecasts, 2025-2035
  - 7.5.1.2. Application Breakdown & Forecasts, 2025-2035
- 7.5.2. India Market
  - 7.5.2.1. Type Breakdown & Forecasts, 2025-2035
  - 7.5.2.2. Application Breakdown & Forecasts, 2025-2035
- 7.5.3. Japan Market
  - 7.5.3.1. Type Breakdown & Forecasts, 2025-2035
  - 7.5.3.2. Application Breakdown & Forecasts, 2025-2035
- 7.5.4. Australia Market
  - 7.5.4.1. Type Breakdown & Forecasts, 2025-2035
  - 7.5.4.2. Application Breakdown & Forecasts, 2025-2035
- 7.5.5. South Korea Market
  - 7.5.5.1. Type Breakdown & Forecasts, 2025-2035
  - 7.5.5.2. Application Breakdown & Forecasts, 2025-2035
- 7.5.6. Rest of Asia Pacific Market
  - 7.5.6.1. Type Breakdown & Forecasts, 2025-2035
  - 7.5.6.2. Application Breakdown & Forecasts, 2025-2035
7.6. Latin America Market
- 7.6.1. Brazil Market
  - 7.6.1.1. Type Breakdown & Forecasts, 2025-2035
  - 7.6.1.2. Application Breakdown & Forecasts, 2025-2035
- 7.6.2. Mexico Market
  - 7.6.2.1. Type Breakdown & Forecasts, 2025-2035
  - 7.6.2.2. Application Breakdown & Forecasts, 2025-2035
7.7. Middle East & Africa Market
- 7.7.1. UAE Market
  - 7.7.1.1. Type Breakdown & Forecasts, 2025-2035
  - 7.7.1.2. Application Breakdown & Forecasts, 2025-2035
- 7.7.2. Saudi Arabia Market
  - 7.7.2.1. Type Breakdown & Forecasts, 2025-2035
  - 7.7.2.2. Application Breakdown & Forecasts, 2025-2035
- 7.7.3. South Africa Market
  - 7.7.3.1. Type Breakdown & Forecasts, 2025-2035
  - 7.7.3.2. Application Breakdown & Forecasts, 2025-2035

Chapter 8. Competitive Intelligence

8.1. Top Market Strategies
8.2. Robert Bosch GmbH
- 8.2.1. Company Overview
- 8.2.2. Key Executives
- 8.2.3. Company Snapshot
- 8.2.4. Financial Performance (Subject to Data Availability)
- 8.2.5. Product/Services Portfolio
- 8.2.6. Recent Development
- 8.2.7. Market Strategies
- 8.2.8. SWOT Analysis
8.3. Nidec Corporation
8.4. BorgWarner Inc.
8.5. Siemens AG
8.6. ABB Ltd.
8.7. ZF Friedrichshafen AG
8.8. Dana Incorporated
8.9. Hitachi Astemo, Ltd.
8.10. Toshiba Corporation
8.11. Hyundai Mobis Co., Ltd.
8.12. Magna International Inc.
8.13. WEG Industries
8.14. Mahle GmbH
8.15. Continental AG
8.16. BYD Co. Ltd.