The ever-evolving Coronavirus (COVID-19) has caused interruptions in supply chains of companies in the EV Traction Market. Through careful analysis of the COVID-19, our analysts at Fact.MR offer you a bird’s eye view of the current on goings of top tier companies in the EV Traction Market. Learn how leading companies are striking potential partnership agreements to generate sales in the EV Traction Market.
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With the growth in the development of electric vehicles, the demand for EV traction motor is also rising. Moreover, traction motors can be used in both hybrids as well as electric vehicles. Also, with the introduction of stringent regulations on emission across the globe is also driving the demand for electric vehicles, thereby resulting in the growth of EV traction motor market. The government in various countries are also offering incentives and subsidies for electric vehicles such as tax exemptions, tax credits, etc., resulting in the increasing demand for electric vehicles. Hence, increasing demand for electric vehicles will automatically drive the EV traction motor market. Moreover, manufacturers are also focusing on developing advanced traction motors by investing in research and development activities.
Operating at high temperature, traction motors reduce the need for cooling time, thereby increasing the efficiency of the motor. The automotive industry is moving towards adopting traction motors to achieve power density, efficiency, reliability. Moreover, use of traction motors in electric vehicles also leads to the low maintenance cost. However, increasing cost of metals and shortage of rear-earth metals is hampering the growth of the EV traction motors.
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As per the report compiled by Fact.MR, the global EV traction market is likely to witness robust growth, registering 13.5% CAGR during the forecast period 2017-2026. The market is also estimated to bring in US$ 14,924.0 million revenue by the end of 2026. Manufacturers are focusing on investing in the research and development of the advanced EV traction motor based on specific needs. Moreover, increasing adoption of the electric vehicles is also driving the growth of the global EV traction motor market. Below are the few insights on how the global EV traction motor market will perform in the coming years.
Chapter 1- EV Traction Motor Market- Executive Summary
This chapter offers a quick summary of the EV traction motors market along with the key segments that are highly lucrative along with their related information. Moreover, this segment also sheds light on crucial particulars related to growth of EV traction motor market.
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Chapter 2- EV Traction Motor Market- Overview
This chapter talks about the market definition along with a short definition of the product itself ‘EV traction motor’. Moreover, this chapter also sheds light on the market taxonomy, wherein the market segmentation has been covered. This chapter talks about the market dynamics, supply chain framework, product life cycle, cost structure, Porter’s five force analysis, and other factors instrumental to determine growth of EV traction motor market.
Chapter 3- EV Traction Motor Market Analysis & Forecast
This chapter in the EV traction motor market report gives a detailed overview of the market forecast by various factors. The market analysis and forecast is done on the basis of various segments, including motor type, voltage rating, and vehicle type. For every segment, this chapter offers a revenue (US$ Mn) comparison, market share comparison, and a Y-O-Y growth comparison, which aids in complete understanding of the market players.
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The report also offers a detailed profile of some of the leading players in the global market for EV traction motor such as ABB Limited, Bharat Heavy Electricals Ltd., Magnetic Systems Technology, Parker-Hannifin Corp., SKF AB, Valeo SA, YASA Motors Ltd., ZF TRW Automotive Holdings Corporation, and Zytek Group Limited.
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