EV Traction Motor Market will register a 40.3% CAGR During Forecast Period 2019-2024

EV Traction Motor Market

A traction motor is an electric motor used for propulsion of a vehicle, such as an electric locomotive or electric roadway vehicle.

In the coming years there is an increasing demand for EV Traction Motor in the regions of United States and Europe that is expected to drive the market for more advanced EV Traction Motor. Growth in government budgets in the principal countries, increasing of new energy automotive fields expenditures, more-intense competition, launches in introducing new products, retrofitting and renovation of old technology, increasing adoption of EV Traction Motor will drive growth in North America and Europe markets.

Globally, the EV Traction Motor industry market is low concentrated as the manufacturing technology of EV Traction Motor is relatively matures than some high-tech equipment. And some enterprises, like BMW, Tesla, Broad-Ocean, BYD, etc. are well-known for the wonderful performance of their EV Traction Motor and related services. At the same time, China, occupied 54% sales market share in 2017, is remarkable in the global EV Traction Motor industry because of their lower cost of raw material and labor.

Report Sample includes:
– Table of Contents
– List of Tables & Figures
– Charts
– Research Methodology

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According to this study, over the next five years the EV Traction Motor market will register a 40.3% CAGR in terms of revenue, the global market size will reach US$ 17000 million by 2024, from US$ 3130 million in 2019.

This report presents a comprehensive overview, market shares, and growth opportunities of EV Traction Motor market by product type, application, key manufacturers and key regions and countries.

This study considers the EV Traction Motor value and volume generated from the sales of the following segments:

Segmentation by product type:

  • AC Induction Motor
  • Permanent Magnet Motor

Segmentation by application:

  • BEV
  • PHEV

This report also splits the market by region: 

  • Americas
  • United States
  • Canada
  • Mexico
  • Brazil
  • APAC
  • China
  • Japan
  • Korea
  • Southeast Asia
  • India
  • Australia
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Russia
  • Spain
  • Middle East & Africa
  • Egypt
  • South Africa
  • Israel
  • Turkey
  • GCC Countries

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.

The key manufacturers covered in this report:

  • BMW
  • Tesla
  • Broad-Ocean
  • BYD
  • Nissan
  • Continental AG
  • Jing-Jin Electric Technologies
  • ZF
  • Groupe Renault
  • Toyota
  • Meidensha
  • UAES
  • LG
  • Dajun Tech
  • Greatland Electrics
  • Hitachi Automotive Systems
  • Magna

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives

  • To study and analyze the global EV Traction Motor consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
  • To understand the structure of EV Traction Motor market by identifying its various subsegments.
  • Focuses on the key global EV Traction Motor manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
  • To analyze the EV Traction Motor with respect to individual growth trends, future prospects, and their contribution to the total market.
  • To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
  • To project the consumption of EV Traction Motor submarkets, with respect to key regions (along with their respective key countries).
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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