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

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

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.

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