EV Traction Motor Market: Comprehensive Analysis of Factors That Drive Market Growth (2017 – 2026)

Fact.MR, in a recently published market study, highlights the important factors that are expected to shape the growth of the EV Traction Motor Market over the forecast period 2017 to 2026. The current trends, market drivers, opportunities, and restraints are thoroughly evaluated to provide a clear understanding of the current market landscape and the course the EV Traction Motor Market is likely to take over the upcoming decade.

According to the report, the EV Traction Motor Market is slated to register a CAGR growth of ~XX% through the considered assessment period owing to several key factors including growing investments in the EV Traction Motor space, rise in the number of research and development projects, favorable regulatory policies and more. The analysts at Fact.MR deploy present-day research techniques while curating the market study and gather data from credible and trusted primary and secondary sources.

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Important doubts pertaining to the EV Traction Motor market addressed in the report:

  • What are the different micro and macro-economic factors that are expected to influence the growth of the EV Traction Motor Market?
  • Why is the market attractiveness of region 2 higher than region 3?
  • What are the latest developments in the EV Traction Motor Market?
  • What is the key trend that can be observed in the current EV Traction Motor Market landscape?
  • How are market players adapting to evolving regulatory policies?

What value does the EV Traction Motor Market study add to our client’s business needs?

  • Intricate and detailed analysis of the various market segments and sub-segments
  • Detailed assessment of the competitive landscape of the EV Traction Motor Market
  • Information related to recent product innovations, technological advances, and more
  • Scope for market growth in different regional markets
  • Key insights related to the impact of government policies on the EV Traction Motor Market worldwide

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Competitive Landscape

  • In 2019, Advanced Cooling Technologies, Inc. (ACT)- a company offering thermal management solutions, made an announcement of the acquisition of the precision-cooling business of Parker Hannifin Corporation, a leading player in EV traction motor market.
  • In 2017, ABB Limited- a MNC operating in the areas of power, robotics, automation technology, and heavy electrical equipment- acquired KEYMILE Group’s mission-critical communication business unit. This acquisition is aimed at expansion of ABB’s communication network’s portfolio. This will also help in extension of revenue-generating opportunities for ABB.

Manufacturers of EV Traction Motor Focus on R&D to Attain Long-term Profitability

Electric vehicles (EVs) and hybrid electric vehicles (HEVs) are disrupting the automotive space, owing to multiple benefits offered such as optimal fuel efficiency and near-zero emissions at relatively affordable prices. This, in turn, is also providing a significant impetus to the worldwide sales of EV traction motors. Various types of EV traction motors, including permanent magnet synchronous motors (PMSM), induction/asynchronous motors (IM), hybrid motors (HM), and switched reluctance motor, are employed in automobiles based on the automakers’ specifications.

In a bid to comply with ever-evolving performance and efficiency requirements, manufacturers in EV traction motor market are raising their game and investing in R&D to introduce new and unique developments. By focusing on R&D, leading players in EV traction motors market are being able to implement unique technologies, such as advanced power electronics, into their offerings to eliminate the associated drawbacks. Moreover, the EV traction motor industry is extensively focusing on R&D to do away with use of rare-earth metals, which will help in reduction of the cost and complexity of the motors.

EV Traction Motor Market- Research Methodology

The research study on EV traction motor market offers a comprehensive and an all-inclusive analysis of EV traction motor market landscape, which has been diligently compiled using a proven research methodology. The research methodology used during compilation of EV traction motor market report comprises of two phases- primary research and secondary research, which complete the process of compilation of EV traction motor market. The research methodology utilized for compilation of EV traction motor market is a ‘one-of-its-kind’ research methodology that ensures reliability and credibility. Insights and data garnered for EV traction motor market report are also subjected to stages of cross-verification to avoid minor discrepancies.

The primary phase of the research methodology includes interactive sessions with the expert panel and industry participants of EV traction motor market. The secondary phase of the research methodology includes detailed study and analysis of multiple sources, including paid databases, company websites, press releases, and other relevant publications.

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