Automotive Traction Motor Market by Motor Type, Power Output (200-400 KW, Above 400 KW, Less than 200 KW), EV Type, Vehicle Type

Description

List of Tables

[195 Pages Report] The Automotive Traction Motor Market size was estimated at USD 7.85 billion in 2023 and expected to reach USD 9.00 billion in 2024, at a CAGR 16.40% to reach USD 22.74 billion by 2030.

Automotive traction motors are electric motors that are used to propel electric and hybrid vehicles. These motors convert electrical energy into mechanical energy, facilitating the movement of vehicles. This market's scope includes various types of traction motors, such as alternating current (AC) induction motors, permanent magnet synchronous motors (PMSMs), and direct current (DC) motors. The application of these motors spans a myriad of vehicle types, including passenger cars, heavy commercial vehicles, and light commercial vehicles, as well as two-wheelers and three-wheelers that are equipped with electric drive capabilities.

KEY MARKET STATISTICS
Base Year [2023]	USD 7.85 billion
Estimated Year [2024]	USD 9.00 billion
Forecast Year [2030]	USD 22.74 billion
CAGR (%)	16.40%

Stringent environmental regulations and increased awareness about greenhouse gas emissions are propelling the demand for electric vehicles, subsequently increasing the demand for traction motors. Additionally, the availability of government incentives for EV manufacturers and buyers further incentivizes the growth of the traction motor market. High initial costs associated with electric motors and related technologies hinder market growth. Growing development of lightweight and more efficient traction motors with rising initiatives for the refurbishment and recycling of old motors for sustainable practices are expected to create opportunities for market growth.

Motor Type: Growing usage of AC induction motors due to their ruggedness, low maintenance and good power-to-weight ratio

AC induction motors are widely used in electric vehicles (EVs) mainly because of their simplicity, robustness, and cost-effectiveness. These motors operate on the principle of electromagnetic induction and do not require permanent magnets, which can be a significant advantage in terms of cost, as rare earth materials are quite expensive. Brushless DC motors are known for their high power-to-weight ratio, efficiency, and long operating life. They operate with an electronically controlled commutation system rather than a mechanical commutator and brushes, which enhances their reliability and reduces maintenance. Permanent magnet synchronous motors combine the advantages of high efficiency and good power density due to the presence of permanent magnets on the rotor. These characteristics enable better performance at a wide range of speeds and loads. Switched reluctance motors are notable for their simple and rugged construction. They do not contain permanent magnets, similar to induction motors, and are known for their operation at extremely high speeds and their ability to withstand harsh environments.

Power Output: Increasing significance of traction motors with above 400 KW power that handle the heavy towing requirements of large commercial vehicles

The 200-400 KW segment caters to high-performance electric vehicles (EVs), including premium electric cars and electric buses or trucks that require substantial power for acceleration and carrying heavy loads. This power segment is ideal for manufacturers that focus on a blend of efficiency, performance, and range. Vehicles within this power band are often used for longer trips or in commercial applications, where reliability and robustness are crucial. The above 400 KW segment is tailored to the needs of the most demanding applications in the automotive industry, such as high-performance supercars, heavy-duty trucks, and specialized industrial vehicles. These traction motors are designed for top-tier acceleration high top speeds, and to handle the heavy towing requirements of large commercial vehicles. Traction motors with power outputs of less than 200 KW are generally used in compact and economy-class electric cars and are designed for urban and sub-urban mobility, providing sufficient power for daily commutes and short to medium-distance travels. This power band appeals to mainstream consumers who prioritize efficiency, cost savings, and practicality over raw performance.

EV Type: Growing popularity of hybrid electric vehicles (HEVs) that reduce emissions without relying solely on charging infrastructure

Battery electric vehicles (BEVs) are fully electric vehicles that operate solely on electrical power from onboard batteries, which are charged through the electrical grid. Such vehicles are preferred for their zero tailpipe emissions, low maintenance, and operating costs, making them popular choices for environmentally-conscious consumers and those with access to charging infrastructure. Fuel cell electric vehicles (FCEVs) are electric vehicles powered by electricity generated from hydrogen fuel cells. They are mainly preferred for their fast refueling capabilities and long range, which are suitable for heavy-duty transportation needs and regions where a hydrogen infrastructure is being developed. Hybrid electric vehicles (HEVs) combine an internal combustion engine with an electric traction motor to improve efficiency. They are preferred by consumers who need better fuel economy than conventional vehicles and want to reduce emissions without relying solely on charging infrastructure. Plug-in hybrid electric vehicles (PHEVs) are hybrids with rechargeable batteries that can be charged through an external power source and the vehicle's engine. They offer a balance of electric-only range and the extended range capability of HEVs. PHEVs are especially appealing to those with commute distances within the electric range who still require long-range flexibility.

Vehicle Type: Rising potential of higher torque-based traction motors in commercial vehicles for heavy-duty performance

Commercial vehicles include a variety of transportation means such as buses, heavy trucks, light trucks, and other utility vehicles designed for the movement of goods and passengers. The need-based preferences for electric traction motors in commercial vehicles are driven by factors such as higher torque for heavy-duty performance, durability for extended operation, and efficiency for reducing operating costs. The passenger cars segment encompasses sedans, hatchbacks, SUVs, and other forms of personal vehicles. Electric traction motors for this segment require balanced attributes such as compact design, quiet operation, and the right balance between power and efficiency to cater to consumer preferences for smooth and responsive vehicles for everyday use. Innovations often target enhancing the driving experience by improving acceleration times while maintaining or extending range and battery life.

Regional Insights

The ongoing government initiatives and investments for electric vehicle manufacturing with expanding manufacturing hubs in the American region promote the enormous demand for the automotive traction motors market. Rising consumer awareness toward electric vehicles also encourages the adoption of lightweight and heavy electric vehicle components, creating the need for automotive traction motors in South America. The European Union is at the forefront of electrifying transportation, with stringent emissions regulations and aggressive targets for EV deployment. Subsidies and incentives, along with high fuel prices, have made electric vehicles an attractive option for consumers. This has translated to a boosted demand for innovative traction motor technologies, with numerous EU-funded projects focused on the optimization of electric powertrains. In the Middle East, the market for automotive traction motors is emergent, with countries such as the United Arab Emirates (UAE) and Saudi Arabia investing in smart cities with integrated EV technologies. The traction motor market in Africa is nascent, with several countries in the early stages of EV adoption. The Asia-Pacific region is witnessing rapid growth in the automotive traction motors market due to the growing automotive manufacturing and increasing sales of vehicles with electrified features acting as a key differentiator for defining the luxury and comfort level.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Automotive Traction Motor Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Automotive Traction Motor Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Automotive Traction Motor Market, highlighting leading vendors and their innovative profiles. These include Aisin Corporation, Bharat Heavy Electricals Ltd, BorgWarner Inc., BYD CO.LTD, Continental AG, Denso Corporation, Eaton Corporation PLC, Equipmake Ltd, GKN Automotive Limited, Jing-Jin Electric Technologies Co., Ltd., Johnson Electric Holdings Limited, Magna International Inc., MAHLE GmbH, Mitsuba Corp., Nidec Corporation, Parker Hannifin Corporation, Robert Bosch GmbH, Schaeffler AG, Shanghai Edrive Co., Ltd., Shenzhen Inovance Technology Co. Ltd., Shuanglin Group Co., Ltd., SKF AB, Tesla Inc., Valeo Group, and ZF Friedrichshafen AG.

Market Segmentation & Coverage

This research report categorizes the Automotive Traction Motor Market to forecast the revenues and analyze trends in each of the following sub-markets:

Motor Type
- AC Induction Motors
- Brushless Direct Current Motor
- Permanent Magnet Synchronous Motor
- Switched Reluctance Motor

Power Output
- 200-400 KW
- Above 400 KW
- Less than 200 KW

EV Type
- Battery Electric Vehicle
- Fuel Cell Electric Vehicle
- Hybrid Electric Vehicle
- Plug-in Hybrid Electric Vehicle

Vehicle Type
- Commercial Vehicles
  - Buses
  - Trucks
  - Vans

Passenger Cars

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Automotive Traction Motor Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Automotive Traction Motor Market?

3. What are the technology trends and regulatory frameworks in the Automotive Traction Motor Market?

4. What is the market share of the leading vendors in the Automotive Traction Motor Market?

5. Which modes and strategic moves are suitable for entering the Automotive Traction Motor Market?

Product Code: MRR-FD3F12D533EC

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Surging adoption of electric vehicles globally with supportive government investments
  - 5.1.1.2. Growing inclination towards the development of fuel cell vehicles
  - 5.1.1.3. Expanding initiatives towards electrification of public transportation and school vehicles
- 5.1.2. Restraints
  - 5.1.2.1. High cost of raw materials and installation associated with automotive traction motor
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements in automotive traction motor
  - 5.1.3.2. Rising focus on refurbishment and recycling of old traction motors
- 5.1.4. Challenges
  - 5.1.4.1. Complications in operations and risk of power failure with automotive traction motor
5.2. Market Segmentation Analysis
- 5.2.1. Motor Type: Growing usage of AC induction motors due to their ruggedness, low maintenance and good power-to-weight ratio
- 5.2.2. Power Output: Increasing significance of traction motors with above 400 KW power that handle the heavy towing requirements of large commercial vehicles
- 5.2.3. EV Type: Growing popularity of hybrid electric vehicles (HEVs) that reduce emissions without relying solely on charging infrastructure
- 5.2.4. Vehicle Type: Rising potential of higher torque-based traction motors in commercial vehicles for heavy-duty performance
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Automotive Traction Motor Market, by Motor Type

6.1. Introduction
6.2. AC Induction Motors
6.3. Brushless Direct Current Motor
6.4. Permanent Magnet Synchronous Motor
6.5. Switched Reluctance Motor

7. Automotive Traction Motor Market, by Power Output

7.1. Introduction
7.2. 200-400 KW
7.3. Above 400 KW
7.4. Less than 200 KW

8. Automotive Traction Motor Market, by EV Type

8.1. Introduction
8.2. Battery Electric Vehicle
8.3. Fuel Cell Electric Vehicle
8.4. Hybrid Electric Vehicle
8.5. Plug-in Hybrid Electric Vehicle

9. Automotive Traction Motor Market, by Vehicle Type

9.1. Introduction
9.2. Commercial Vehicles
9.3. Passenger Cars

10. Americas Automotive Traction Motor Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Automotive Traction Motor Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Automotive Traction Motor Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. GKN Automotive Unveils New Off-The-Shelf Electric Drive Unit Concept
- 13.3.2. Nidec and Renesas Collaborate on Semiconductor Solutions for Next-Generation E-Axle for EVs
- 13.3.3. Flash Partners with GEM Motors for Electric Motor Technology
- 13.3.4. Infinitum Unveils Award-winning, Next-Gen Propulsion and Traction Electric Motor at CES 2023
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio