About EV traction motor
EV traction motor is an electric motor that is used for the propulsion of EVs. It converts electrical energy into motion. These traction motors form a major component in EVs such as cars, two-wheelers, light industrial/commercial vehicles, military vehicles, buses, and others. These motors determine the performance and affordability of EVs.
Technavio's analysts forecast the global EV traction motor market to grow at a CAGR of 18.57% over the period 2014-2019.
Covered in this report
This report covers the present scenario and the growth prospects of the global EV traction motor market for the period 2015-2019. The report covers the end-users for revenue consideration.
Technavio's report, Global EV Traction Motor Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and EMEA and APAC; it also covers the vendor landscape and a corresponding detailed analysis of the market vendors in the global EV traction motor market. In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends that are emerging in the market. Key regions
Technavio Announces the Publication of its Research Report – Global EV Traction Motor Market 2015-2019
Technavio recognizes the following companies as the key players in Global EV Traction Motor Market 2015-2019: Aisin Seiki, Continental, Magna International, Remy International and Robert Bosch
Other Prominent Vendors in the market are: AC Propulsion, Brose Fahrzeugteile, SEW-EURODRIVE, Siemens and UQM Technologies
Commenting on the report, an analyst from Technavio’s team said: “The global EV traction motor market is witnessing increased investment by vendors in R&D, resulting in many innovative applications and solutions. The R&D is focused on specific needs based on traction motor applications. For instance, electric aircraft require traction motors with high reliability and a high power to weight ratio. Similarly, HEVs require traction motors that can tolerate high temperatures as they need to be placed near a conventional engine or its exhaust. Also, vendors are working to increase the energy efficiency and reduce the cost of traction motors. In addition, they are trying to generate high torque, which will help EVs to accelerate and climb elevated areas.”
According to the report, in some countries, drivers of BEVs are exempted from having a driver’s license to operate them. Governments and local bodies in China, Japan, India, and Germany have promoted this as an incentive to boost the growth of the global BEV market. Quadricycles have now become a preferred mode of transportation for the elderly in Europe. The benefit of this is that it saves them from the hassle of renewing their driving license. Quadricycles have attracted many consumers, particularly in countries such as the UK, Germany, France, and Sweden. Thus, these government subsidies and incentives are leading to high BEV sales, which is expected to drive the demand for EV traction motors.
Further, the report states that the shortage of raw materials for manufacturing traction motors is also a serious challenge hindering the growth of the market.
Aisin Seiki, Continental, Magna International, Remy International, Robert Bosch, AC Propulsion, Brose Fahrzeugteile, SEW-EURODRIVE, Siemens, UQM Technologies
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