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Automotive Traction Motor Market is set for lucrative growth during 2021-2031 | Size, Share, Demand and Opportunities Analysis
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Automotive traction motors are electric motors that are used to power the wheels of a vehicle. The most common type of traction motor is the brushed DC motor, which is used in many electric vehicles. Traction motors are also used in hybrid vehicles, which use both an electric motor and an internal combustion engine to power the vehicle.
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Key Trends
Some of the key trends in automotive traction motor technology include the development of more powerful and efficient motors, the use of lighter materials to reduce weight, and the integration of motors into the vehicle body to save space.
Additionally, newer technologies such as brushless DC motors are becoming more prevalent, as they offer superior performance and efficiency compared to traditional brushed DC motors.
As electric vehicles become more popular, the demand for high-performance traction motors is increasing. To meet this demand, manufacturers are constantly pushing the boundaries of motor technology.
Key Drivers
The automotive traction motor market is driven by a number of factors, including the increasing demand for electric vehicles, the need for improved fuel economy, and stringent emission regulations.
The electric vehicle market is expected to grow at a rapid pace in the coming years, owing to the increasing environmental concerns and the need to reduce the dependence on fossil fuels.
Fuel economy is another key driver of the automotive traction motor market. The fuel economy regulations have been tightened in several countries, owing to the rising concerns over the greenhouse gas emissions.
The emission regulations are also playing a major role in driving the automotive traction motor market. The governments of various countries are imposing stringent emission norms to reduce the environmental pollution.
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Market Segments
The automotive traction motor market is segmented by vehicle type, application, type, and region. By vehicle type, the market is classified into passenger cars, and commercial vehicles. On the basis of application, it is bifurcated into railways, electric vehicles, and industrial vehicles. Based on type, it is divided into AC, and DC. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
Key Players
The global automotive traction motor market includes players such as ABB, American Traction Systems, Hitachi, Ltd, Hyundai Rotem Company, CRRC, Mitsubishi Electric Corporation, Siemens, Škoda Transportation, Toshiba International Corporation, Wabtec Corporation, and others.
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