According to a new market report published by Lucintel, the future of the global electric vehicle traction motor market looks promising with opportunities in railway, electric vehicles, industrial machinery, and other applications. The global electric vehicle traction motor market is expected to grow with a CAGR of 21% from 2020 to 2026. The major drivers for this market are increase in demand for high-performance motors, favorable government policies and subsidies, and the rise in investments in the railway sector.
To download report brochure, please go to www.lucintel.com/electric-vehicle-traction-motor-market.aspx and click "report brochure" tab from the menu.
In this market, alternating current and direct current are the major types used to manufacture electric traction motors. On the basis of comprehensive research, Lucintel forecasts that alternating current will remain the largest type segment, and it is also expected to witness the highest growth over the forecast period because of modern power electronics. Also, it is more efficient and easier to control.
Within the global electric vehicle traction motor market, the railway segment is expected to witness the highest growth over the forecast period due to the increased reliance of the railway industry on electric traction motors for enhanced speed control and high start-up torque.
APAC is expected to remain the largest market and witness the highest growth over the forecast period due to the rising investments in electric vehicles and the growing metro rail network in the region.
Emerging trends, which have a direct impact on the dynamics of the industry, include the growing adoption of automation in varied mechanical operations and increasing penetration of conveyors. ABB Ltd, Siemens AG, General Electric Company, Kirloskar Electric Company Ltd, CG Power and Industrial Solutions Ltd, CRRC Corporation Limited, Alstom SA, Skoda Transportation AS, and Robert Bosch GmbH are among the major suppliers of the electric vehicle traction motor market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global electric vehicle traction motor market by type, power rating, application, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Electric Vehicle Traction Motor Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global electric vehicle traction motor market by type, power rating, application and region, as follows:
By Type [Value ($ Million) from 2015 to 2026]:
Alternating Current
Direct Current
By Power Rating [Value ($ Million) from 2015 to 2026]:
Below 200 Kw
200-400 Kw
Above 400 Kw
By Application [Value ($ Million) from 2015 to 2026]:
Railway
Electric Vehicles
Industrial Machinery
Others
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.