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EV Traction Motor Market by Application, Power Rating, and Geography - Forecast and Analysis 2023-2027

  • Published: Nov 2022
  • Pages: 173
  • SKU: IRTNTR74730
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The electric vehicle (EV) traction market is estimated to grow at a CAGR of 16.73% between 2022 and 2027. The size of the market is forecast to increase by USD 6,960.3 million. The growth of the market depends on serval factors, including the increasing sales of EVs, the decreasing prices of lithium-ion batteries boosting the adoption of EVs, and the advantages of EV traction motors.

This report extensively covers market segmentation by application (railways, electric vehicle, and others), power rating (below 200 kw, 200 to 400 kw, and above 400 kw), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

 What will the Size of the EV Traction Motor Market During the Forecast Period?

EV Traction Motor Market Size

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Parent Market Analysis

Technavio categorizes the global electric vehicle (EV) traction market as a part of the global auto parts and equipment market within the global auto components market. The global auto parts and equipment market covers companies engaged in the production of parts and accessories for automobiles like passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

EV Traction Motor Market: Key Drivers, Trends, Challenges, and Customer Landscape

The increasing sales of EVs are notably driving the market growth, although factors such as the lack of operational infrastructure in emerging markets may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key EV Traction Motor Market Driver 

The increasing sales of EVs are the key factor driving the global EV traction market growth. Most government bodies globally are taking several initiatives to promote the sales of EVs. Unlike ICE-powered vehicles, EVs significantly reduce air pollution as they do not emit harmful pollutants, such as particulates, carbon monoxide, hydrocarbons, and volatile organic compounds. The factors driving the demand for EVs are various benefits and perks provided by the governments, increased awareness to curb the emission of greenhouse gas, stringent carbon emission norms such as reducing the average CO2 emission emitted by the fleets of OEMs, increase in participation from the foreign as well as the regional players for the development of EVs, and increased buyers' intent to adopt EVs.

Moreover, new manufacturing hubs and an increased push to improve charging infrastructure have significantly increased the sales of EVs. Thus, the increasing sales of EVs will increase the demand for EV traction motors and, in turn, will drive the growth of the market in focus during the forecast period.

Key EV Traction Motor Market Trend

The rapid development of luxury EVs is the primary trend in the global EV traction market. The rising concern about reducing vehicular emissions is increasing the adoption of electrified vehicles, which include pure EVs, plug-in hybrid EVs, and hybrid EVs. Electrified vehicles are gaining popularity among luxury vehicle manufacturers. Daimler, Volvo Car, and Jaguar Land Rover Automotive are among other manufacturers that have invested in electrified vehicles. Supercar manufacturers are also investing in electrifying their vehicles.

The established premium EV manufacturers, including Tesla, are increasing their product portfolios by introducing new EV models. Thus, the rapid adoption and development of premium EVs are expected to increase the demand for EV traction motors. Therefore, the increasing adoption of luxury vehicles will drive the growth of the market in focus during the forecast period.

Key EV Traction Motor Market Challenge

The lack of operational infrastructure in emerging markets is a major challenge to the global EV traction market growth. In India and other Southeast Asian countries, the lack of adequate infrastructure hinders the expansion of EV charging stations. The lack of proper road infrastructure in countries such as India hampers the large-scale expansion of EV charging infrastructure. Individuals and freight operators who maintain a fleet of EVs for commercial purposes limit their operations to major cities as the operational infrastructure required for setting up an EV charging station is available mostly in major cities, not in tier-2 and tier-3 cities. Governing bodies are developing charging stations in their respective regions to promote the use of electric commercial vehicles (CV).

However, most of them are slow-charging stations that require a considerable amount of time to charge a vehicle. Electric CVs have higher battery capacities than electric passenger cars and thus require more time for charging. The lack of operational infrastructure is hampering the adoption of EVs, which in turn will impede the demand for EV traction motors. Thus, the aforementioned factors will negatively impact the growth of the market in focus during the forecast period.

Key EV Traction Motor Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies EValuate and develop their growth strategies.

EV Traction Motor Market Share by Geography

Global EV Traction Motor Market Customer Landscape

 

Who are the Major EV Traction Motor Market Vendors?                                     

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

alliedmotion.com - The company offers EV traction motors such as WheelMax. Also, this segment includes manufacturing and marketing of controlled motion products for OEMs and end-user applications.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • ABB Ltd.
  • AC Propulsion Inc.
  • Aisin Corp.
  • BorgWarner Inc.
  • Bowe Digital Ltd
  • Continental AG
  • Delta Electronics Inc.
  • Hitachi Ltd.
  • LG Magna e Powertrain
  • MAHLE GmbH
  • Nidec Corp.
  • Parker Hannifin Corp.
  • Robert Bosch GmbH
  • Saini Group
  • Siemens AG

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the EV Traction Motor Market?

The market share growth by the railways segment will be significant during the forecast period. Traction motors are used on electrified railways due to their high torque and good speed control. There are three types of traction motors that are used in electrified railways, namely DC, AC, and synchronous traction motors. Such factors will increase the demand for this segment during the forecast period.

EV Traction Motor Market Size

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The railways segment was valued at USD 1,669.29 million in 2017 and continue to grow by 2021The developments in electronics have led to the replacement of relay systems with electronic controls that enable smoother acceleration and deceleration in railway vehicles. Present-day systems in use commonly deploy separately excited DC traction motor and thyristor controls for both main supply voltage as well as field excitation. When it comes to the constant start-stop operation of rail vehicles under heavy loads, DC traction motors are still the preferred choice. DC traction motors have been commonly used in railways. Moreover, the increasing electrification of railways, particularly in developing countries, will drive the growth of the segment and, in turn, the growth of the market in focus during the forecast period.

Which are the Key Regions for the EV Traction Motor Market?

EV Traction Motor Market Share by Geography

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APAC is projected to contribute 41% of market growth by 2023. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The EV traction motor market in APAC is growing rapidly, owing to the increasing demand for EVs from countries such as China, Japan, India, Singapore, Thailand, and South Korea. China and Japan are major contributors to the EV traction motor market in APAC owing to the increased production and sales of EVs and components. China is the major contributor in terms of the number of EVs sold, which is distantly followed by Japan. South Korea, India, and Hong Kong will emerge as strong markets for EVs during the forecast period. This will increase the production and sales of EV traction motors during the forecast period.

This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to an upsurge in the demand for APAC. However, the market recovery picked up pace in 2021 as the pandemic receded and investments in the EV landscape increased. The regional market in focus is expected to grow during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by application, power rating, and region.

  • Application Outlook (USD Million, 2017 - 2027)
    • Railways
    • Electric vehicle
    • Others
  • Power Rating Outlook (USD Million, 2017 - 2027)
    • Below 200 kW
    • 200 to 400 kW
    • Above 400 kW
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Argentina
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

EV Traction Motor Market Scope

Report Coverage

Details

Page number

173

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 16.73%

Market growth 2023-2027

USD 6,960.3 million

Market structure

Fragmented

YoY growth (%)

12.07

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 41%

Key countries

US, China, South Korea, India, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

ABB Ltd., AC Propulsion Inc., Aisin Corp., Allied Motion Technologies Inc., BorgWarner Inc., Bowe Digital Ltd, Continental AG, Delta Electronics Inc., Hitachi Ltd., LG Magna e Powertrain, MAHLE GmbH, Nidec Corp., Parker Hannifin Corp., Robert Bosch GmbH, Saini Group, Siemens AG, SONA BLW Precision Forgings Ltd., TOSHIBA CORP, Valeo SA, and Yasa Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this EV Traction Motor Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2023 and 2027
  • Precise estimation of the size of the EV traction motor market size and its contribution of the market in focus to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market industry across APAC, Europe, North America, South America, and Middle East and Africa
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of EV traction motor market vendors

 

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Power Rating
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global EV traction motor market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global EV traction motor market 2017 - 2021 ($ million)
    • 4.2 Application Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)
    • 4.3 Power Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Power Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 22: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 25: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 26: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 27: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 28: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Application

    • 6.1 Market segments
      • Exhibit 29: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 30: Data Table on Application - Market share 2022-2027 (%)
    • 6.2 Comparison by Application
      • Exhibit 31: Chart on Comparison by Application
      • Exhibit 32: Data Table on Comparison by Application
    • 6.3 Railways - Market size and forecast 2022-2027
      • Exhibit 33: Chart on Railways - Market size and forecast 2022-2027 ($ million)
      • Exhibit 34: Data Table on Railways - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Chart on Railways - Year-over-year growth 2022-2027 (%)
      • Exhibit 36: Data Table on Railways - Year-over-year growth 2022-2027 (%)
    • 6.4 Electric vehicle - Market size and forecast 2022-2027
      • Exhibit 37: Chart on Electric vehicle - Market size and forecast 2022-2027 ($ million)
      • Exhibit 38: Data Table on Electric vehicle - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Chart on Electric vehicle - Year-over-year growth 2022-2027 (%)
      • Exhibit 40: Data Table on Electric vehicle - Year-over-year growth 2022-2027 (%)
    • 6.5 Others - Market size and forecast 2022-2027
      • Exhibit 41: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 42: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 44: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 6.6 Market opportunity by Application
      • Exhibit 45: Market opportunity by Application ($ million)

    7 Market Segmentation by Power Rating

    • 7.1 Market segments
      • Exhibit 46: Chart on Power Rating - Market share 2022-2027 (%)
      • Exhibit 47: Data Table on Power Rating - Market share 2022-2027 (%)
    • 7.2 Comparison by Power Rating
      • Exhibit 48: Chart on Comparison by Power Rating
      • Exhibit 49: Data Table on Comparison by Power Rating
    • 7.3 Below 200 kW - Market size and forecast 2022-2027
      • Exhibit 50: Chart on Below 200 kW - Market size and forecast 2022-2027 ($ million)
      • Exhibit 51: Data Table on Below 200 kW - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Chart on Below 200 kW - Year-over-year growth 2022-2027 (%)
      • Exhibit 53: Data Table on Below 200 kW - Year-over-year growth 2022-2027 (%)
    • 7.4 200 to 400 kW - Market size and forecast 2022-2027
      • Exhibit 54: Chart on 200 to 400 kW - Market size and forecast 2022-2027 ($ million)
      • Exhibit 55: Data Table on 200 to 400 kW - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Chart on 200 to 400 kW - Year-over-year growth 2022-2027 (%)
      • Exhibit 57: Data Table on 200 to 400 kW - Year-over-year growth 2022-2027 (%)
    • 7.5 Above 400 kW - Market size and forecast 2022-2027
      • Exhibit 58: Chart on Above 400 kW - Market size and forecast 2022-2027 ($ million)
      • Exhibit 59: Data Table on Above 400 kW - Market size and forecast 2022-2027 ($ million)
      • Exhibit 60: Chart on Above 400 kW - Year-over-year growth 2022-2027 (%)
      • Exhibit 61: Data Table on Above 400 kW - Year-over-year growth 2022-2027 (%)
    • 7.6 Market opportunity by Power Rating
      • Exhibit 62: Market opportunity by Power Rating ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 63: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 64: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 65: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 66: Chart on Geographic comparison
      • Exhibit 67: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2022-2027
      • Exhibit 68: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 69: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 71: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 72: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 73: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 75: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 North America - Market size and forecast 2022-2027
      • Exhibit 76: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 77: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 79: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 80: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 81: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 83: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 84: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 85: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 87: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 88: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 89: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 91: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 China - Market size and forecast 2022-2027
      • Exhibit 92: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 93: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 95: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.10 Germany - Market size and forecast 2022-2027
      • Exhibit 96: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 97: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 99: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.11 South Korea - Market size and forecast 2022-2027
      • Exhibit 100: Chart on South Korea - Market size and forecast 2022-2027 ($ million)
      • Exhibit 101: Data Table on South Korea - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Chart on South Korea - Year-over-year growth 2022-2027 (%)
      • Exhibit 103: Data Table on South Korea - Year-over-year growth 2022-2027 (%)
    • 9.12 India - Market size and forecast 2022-2027
      • Exhibit 104: Chart on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 105: Data Table on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 106: Chart on India - Year-over-year growth 2022-2027 (%)
      • Exhibit 107: Data Table on India - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 108: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 109: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 111: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 112: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 113: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 114: Matrix on vendor position and classification
            • 12.3 ABB Ltd.
              • Exhibit 115: ABB Ltd. - Overview
              • Exhibit 116: ABB Ltd. - Business segments
              • Exhibit 117: ABB Ltd. - Key news
              • Exhibit 118: ABB Ltd. - Key offerings
              • Exhibit 119: ABB Ltd. - Segment focus
            • 12.4 Aisin Corp.
              • Exhibit 120: Aisin Corp. - Overview
              • Exhibit 121: Aisin Corp. - Business segments
              • Exhibit 122: Aisin Corp. - Key offerings
              • Exhibit 123: Aisin Corp. - Segment focus
            • 12.5 Allied Motion Technologies Inc.
              • Exhibit 124: Allied Motion Technologies Inc. - Overview
              • Exhibit 125: Allied Motion Technologies Inc. - Product / Service
              • Exhibit 126: Allied Motion Technologies Inc. - Key offerings
            • 12.6 Continental AG
              • Exhibit 127: Continental AG - Overview
              • Exhibit 128: Continental AG - Business segments
              • Exhibit 129: Continental AG - Key offerings
              • Exhibit 130: Continental AG - Segment focus
            • 12.7 Delta Electronics Inc.
              • Exhibit 131: Delta Electronics Inc. - Overview
              • Exhibit 132: Delta Electronics Inc. - Business segments
              • Exhibit 133: Delta Electronics Inc. - Key offerings
              • Exhibit 134: Delta Electronics Inc. - Segment focus
            • 12.8 Hitachi Ltd.
              • Exhibit 135: Hitachi Ltd. - Overview
              • Exhibit 136: Hitachi Ltd. - Business segments
              • Exhibit 137: Hitachi Ltd. - Key news
              • Exhibit 138: Hitachi Ltd. - Key offerings
              • Exhibit 139: Hitachi Ltd. - Segment focus
            • 12.9 LG Magna e Powertrain
              • Exhibit 140: LG Magna e Powertrain - Overview
              • Exhibit 141: LG Magna e Powertrain - Product / Service
              • Exhibit 142: LG Magna e Powertrain - Key offerings
            • 12.10 MAHLE GmbH
              • Exhibit 143: MAHLE GmbH - Overview
              • Exhibit 144: MAHLE GmbH - Business segments
              • Exhibit 145: MAHLE GmbH - Key news
              • Exhibit 146: MAHLE GmbH - Key offerings
              • Exhibit 147: MAHLE GmbH - Segment focus
            • 12.11 Nidec Corp.
              • Exhibit 148: Nidec Corp. - Overview
              • Exhibit 149: Nidec Corp. - Business segments
              • Exhibit 150: Nidec Corp. - Key news
              • Exhibit 151: Nidec Corp. - Key offerings
              • Exhibit 152: Nidec Corp. - Segment focus
            • 12.12 Parker Hannifin Corp.
              • Exhibit 153: Parker Hannifin Corp. - Overview
              • Exhibit 154: Parker Hannifin Corp. - Business segments
              • Exhibit 155: Parker Hannifin Corp. - Key news
              • Exhibit 156: Parker Hannifin Corp. - Key offerings
              • Exhibit 157: Parker Hannifin Corp. - Segment focus
            • 12.13 Robert Bosch GmbH
              • Exhibit 158: Robert Bosch GmbH - Overview
              • Exhibit 159: Robert Bosch GmbH - Business segments
              • Exhibit 160: Robert Bosch GmbH - Key news
              • Exhibit 161: Robert Bosch GmbH - Key offerings
              • Exhibit 162: Robert Bosch GmbH - Segment focus
            • 12.14 Siemens AG
              • Exhibit 163: Siemens AG - Overview
              • Exhibit 164: Siemens AG - Business segments
              • Exhibit 165: Siemens AG - Key news
              • Exhibit 166: Siemens AG - Key offerings
              • Exhibit 167: Siemens AG - Segment focus
            • 12.15 TOSHIBA CORP
              • Exhibit 168: TOSHIBA CORP - Overview
              • Exhibit 169: TOSHIBA CORP - Business segments
              • Exhibit 170: TOSHIBA CORP - Key offerings
              • Exhibit 171: TOSHIBA CORP - Segment focus
            • 12.16 Valeo SA
              • Exhibit 172: Valeo SA - Overview
              • Exhibit 173: Valeo SA - Business segments
              • Exhibit 174: Valeo SA - Key news
              • Exhibit 175: Valeo SA - Key offerings
              • Exhibit 176: Valeo SA - Segment focus
            • 12.17 Yasa Ltd.
              • Exhibit 177: Yasa Ltd. - Overview
              • Exhibit 178: Yasa Ltd. - Product / Service
              • Exhibit 179: Yasa Ltd. - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 180: Inclusions checklist
                • Exhibit 181: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 182: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 183: Research methodology
                • Exhibit 184: Validation techniques employed for market sizing
                • Exhibit 185: Information sources
              • 13.5 List of abbreviations
                • Exhibit 186: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              EV Traction Motor market growth will increase by $6960.3 million during 2023-2027.
              The ev traction motor market is expected to grow at a CAGR of 16.73% during 2023-2027.
              Technavio has segmented the ev traction motor market by application (Railways, Electric vehicle, and Others) ,power rating (Below 200 kW, 200 to 400 kW, and Above 400 kW) , and geography (APAC, Europe, North America, South America, and Middle East and Africa).
              ABB Ltd., AC Propulsion Inc., Aisin Corp., Allied Motion Technologies Inc., BorgWarner Inc., Bowe Digital Ltd, Continental AG, Delta Electronics Inc., Hitachi Ltd., LG Magna e Powertrain, MAHLE GmbH, Nidec Corp., Parker Hannifin Corp., Robert Bosch GmbH, Saini Group, Siemens AG, SONA BLW Precision Forgings Ltd., TOSHIBA CORP, Valeo SA, Yasa Ltd. are a few of the key vendors in the ev traction motor market.
              APAC will register the highest growth rate of 41.32% among the other regions. Therefore, the ev traction motor market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • China
              • South Korea
              • India
              • Germany
              The key factors driving the ev traction motor market growth are:
              • Increasing sales of EVs
              • Rapid development of luxury EVs
              The ev traction motor market vendors should focus on grabbing business opportunities from the railways segment as it accounted for the largest market share in the base year.
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