Automotive Traction Motor Market

Automotive Traction Motor Market by Motor Type (PMSM, AC Induction), Type (AC, DC), EV Type (BEV, HEV, PHEV), Power Output (less than 200 KW, 200-400 KW, and above 400 KW), Vehicle Type (PC, Pick-up Trucks, Trucks, Buses & Vans) & Region - Global Forecast to 2027

Report Code: AT 7854 Sep, 2022, by marketsandmarkets.com

[277 Pages Report] The global automotive traction motor market is projected to grow by CAGR 22.8% from USD 6.5 billion in 2022 to USD 18.4 billion by 2027. Increasing demand of EV’s, increasing manufacturing of high performance motors across the globe, and supporting government policies are factors responsible to drive the automotive traction motor market.

Automotive Traction Motor Market

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Market Dynamics:

Driver: Increased demand for electric vehicles

With increasing concerns raised over the environmental impact of conventional vehicles, governments around the world are encouraging the adoption of vehicles using alternative sources of fuel. EVs are zero-emission vehicles and are gaining preference for clean public transport across countries. Several national governments offer financial incentives, such as tax exemptions and rebates, subsidies, reduced parking/toll fees, and free charging, to encourage the adoption of EVs.

There is growing popularity of Smart Hybrid technology, wherein an integrated traction motor dualling as a starter motor is utilized for additional torque during acceleration with the aid of a dual battery setup

(Li-ion and lead-acid battery). The 48 V traction motors are in high demand from OEMs, especially in developing countries like India, Mexico, and Brazil, thanks to the high mileage being claimed by engines equipped with such technologies. All-wheel drive BEVs, PHEVs, and HEVs both in commercial and passenger segments are also witnessing high demand, further boosting the market for automotive traction motors, especially in developing countries.

Restraint: Limited availability of supporting infrastructure for EVs

The growth of the automotive traction motor market has been restrained due to the limited availability of supporting infrastructure for EVs. Traction motors support the working mechanism in EVs, but EVs need to recharge their batteries frequently.

Some developing countries have specifically targeted this problem statement to boost EV demand by providing incentives for charging station installation and operations. For instance, according to the federal government of Mexico, commercial buildings may be eligible for a tax credit of up to USD 1,500 for the purchase and installation of an EV charging station, or up to USD 3,000 if the infrastructure is located in an affordable housing building, thereby boosting EV infrastructure and inclining its population toward adopting EVs. In addition, the New Mexico Environment Department (NMED) may cover up to 100% of the cost of purchasing, installing, and maintaining qualified light-duty EV charging stations.

Opportunity: Unstable prices of fossil fuels

Fossil energy has been a fundamental driver of technological, social, and economic progress. Fossil fuels include coal, oil, and gas. All these fuel sources play a dominant role in global energy systems. But the negative impact of these fuels is the carbon dioxide (CO2) production after the fuels are burnt.

As gasoline is a petroleum-based product, any changes in crude oil price directly affect its price also. A decrease in the price of gasoline represents that automobile owners have more disposable income for other purchases. The effect of lower fuel prices on vehicle consumption will depend on different countries and their fuel prices. Consumers in a high fuel-tax country such as Norway, although experiencing the same price change as consumers in the lower fuel-tax US, will face a lower overall percentage change in the price. Hence, the price change does not appear as significant in Norway as it does in the US.

Prices of fossil fuels are also susceptible to fluctuations due to externalities such as trade barriers/sanctions, war, and the concentration of their supply to a few regions resulting in price manipulation by trade blocks as well as alternatives such as biofuels and shale gas. Thus, the economics of road transportation is moving significantly in favor of renewable fuel resources like electricity. EVs have gained advantages with the concept of renewable energy sources. OEMs and parts manufacturers are already considering partnerships to compete in the market. This creates a growth opportunity for manufacturers of traction motors that are implemented in all types of EVs.

Challenge: Reducing EV subsidies

The purchase subsidies on EVs were reduced in key markets, such as China and France. For example, the Chinese Ministry of Finance announced plans to cut down on subsidies associated with electric cars by about half in 2019, 20% in 2021, and 30% by 2022. However, vehicles for public transport and those costing below USD 42,000 would continue to receive subsidies, with the new ruling only hitting luxury car brands. As of 2021, the US government subsidized EV cars by providing a tax break of up to USD 7,500 to EV manufacturers for the first 200,000 electric cars they sell. After the tax break limit is met, the subsidy will be reduced by 50% for all EV cars sold over the next six months and by a further 50% for another six months before being discontinued. Germany has also planned to reduce financial incentives to buy electric cars from 2023. Under the plan, premiums for fully electric-powered vehicles priced below USD 40,000 will fall to USD 4,500 from USD 6,000 in 2023. In June 2022, the UK government announced the removal of subsidies for electric cars due to rising demand. In 2021, the government reduced the subsidies to USD 1,987.

The Buses segment is estimated to be the fastest growing in the vehicle type segment

There has been an increasing adoption of electric buses and coaches by public authorities, non-profit organizations, and private companies. Major electric bus manufacturers are BYD (China), Yutong (China), Proterra (US), VDL Group (Netherlands), Olectra Greentech (India), New Flyer (Canada), Foton Motors (China), and AB Volvo (Sweden). Magna, Continental, BorgWarner, and Meritor provide traction motors to various electric bus manufacturers, whereas some EV manufacturers like BYD, BAIC, Geely, etc., build their traction motors in-house. Thus, the rise in demand for buses will fuel the automotive traction motor market. Furthermore, with continuous advancements in battery technologies, OEMs have managed to increase the operating range of these buses. The increasing demand for emission-free public transport options in developed as well as emerging countries is projected to rapidly boost the electric buses segment in the near future, in turn driving the demand for traction motors.

The AC motor in the by type will be leading the automotive traction motor market during the forecast period

By type, the automotive traction motor market is segmented into AC and DC. The AC segment is estimated to dominate the automotive traction motor market during the forecast period. The larger share of this segment can be attributed to the high adoption of AC traction motors, as they offer higher efficiency, improved speed performance, and higher acceleration than DC electric traction motors.

One of the greatest advantages of electric vehicles is a quiet motor, that offers up to 100% torque at zero revolutions per minute (RPM). Either an AC or a DC motor is used in an EV, the difference between the two usually occurs in volts at which the motor can run. A DC motor will likely run between 96 and 192 V, while an AC motor is probably a three-phase motor that runs at 240 V. DC motor generally covers the 20 to 30 kW range.

The European automotive traction motor market is projected to be the fastest by 2027

Europe is estimated to account for a share of 26.4% of the global automotive traction motor market, in terms of value, in 2027. Germany is expected to be the largest market for automotive traction motors in Europe because of the increasing demand for the electrification of personal and public transport fleets and the growing use of electric vans in the logistics industry. Germany is home to many major traction motor manufacturers, such as Robert Bosch GmbH, Schaeffler Group, ZF Friedrichshafen AG, Continental AG, and MAHLE Group. These companies have developed new products and formed joint ventures and supply contracts with key OEMs, thereby significantly contributing to the growth of the automotive traction motor market in Germany.

Automotive Traction Motor Market Size, and Share

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Key Market Players

The global automotive traction motor market is dominated by major players BorgWarner Inc. (US), Schaeffler Group (Germany), Nidec Corporation (Japan), Robert Bosch GmbH (Germany), and ZF Friedrichshafen AG (Germany). The key strategies adopted by these companies to sustain their market position are new product developments, mergers & acquisitions, supply contracts, partnerships, expansions, collaborations, acquisitions, and contracts & agreements.

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Scope of the Report

Report Metric

Details

Market size available for years

2018–2027

Base year considered

2022

Forecast period

2022-2027

Forecast units

Value (USD Million/USD Billion) and Volume (Thousand Units)

Segments covered

Vehicle Type, EV Type, Type, Motor Type, Power Output, and Region

Geographies covered

Asia Pacific, Europe, and North America

Companies Covered

BorgWarner Inc. (US), Schaeffler Group (Germany), Nidec Corporation (Japan), Robert Bosch GmbH (Germany), and ZF Friedrichshafen AG (Germany)
 A total of 25 major company profiles were covered and provided

This research report categorizes the Automotive Traction Motor Market based on vehicle type, EV type, motor type, type, power output, and region.

Based on the vehicle type:

  • Passenger cars
  • Trucks
  • Buses
  • Pickup Trucks
  • Vans

Based on the EV type:

  • BEV
  • HEV
  • PHEV

Based on the type:

  • AC
  • DC

Based on the motor type:

  • PMSM
  • AC induction

Based on the power output:

  • Less than 200 kW
  • 200-400 kW
  • Above 400 kW

Based on the region:

  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • United Kingdom

Recent Developments

  • In May 2022, BYD Co., Ltd. unveiled an intelligence Torque Adaption Control (iTAC) system that it created entirely. Changing wheel speeds can be predicted more than 50 ms ahead of time in terms of response speed. In terms of control strategy, the iTAC system enables many ways to manage the automobile, such as transferring torque, correctly lowering torque, and outputting negative torque, thanks to its faster motor reaction speed and more precise speed adjustment. The iTAC will be installed in BYD models built on the new e-platform 3.0.
  • In May 2022, ZF Friedrichshafen AG unveiled new electric drive modules and systems, including its modular and scalable silicon carbide (SiC) inverter architecture, hairpin electric motor, electric powertrain, and accessories (eWorX). The SiC inverter architecture provides maximum output flexibility from 400 V to 800 V for e-motor operation. The ZF e-motor portfolio is modular, with a common electromagnetic design for the stator, an asynchronous motor (ASM) or permanent-magnet synchronous motor (PSM) design for the rotor, and power classes ranging from 75 kW to 400 kW and topologies ranging from 400 V to 800 V. eWorX, a newly developed product range from ZF, offers completely electric system solutions in a compact form with a common interface, reducing the integration necessary for electrifying work equipment and accessories.
  • In May 2022 BorgWarner Inc. secured a contract to provide high-voltage hairpin (HVH) eMotors to a leading EV brand in China. The eMotors will be used in the company’s second-generation 800 V propulsion system platform and are expected to get installed in vehicles to be mass-produced from October 2023. The 800 V oil-cooled eMotors from BorgWarner are available as either motor assemblies or stator and rotor subassemblies. They incorporate built-in, permanent magnet rotor and proprietary stator insulation enhancement technologies, providing premium durability and reliability.
  • In April 2022 BorgWarner Inc. completed its acquisition of Santroll Automotive Components. The acquisition is anticipated to boost BorgWarner's speed to market while strengthening its vertical integration, size, and portfolio breadth in light vehicle e-motors. Santroll, a Chinese company with almost 400 full-time workers based in Tianjin, creates and produces eMotors for light cars using concentrated-winding and hairpin technology, and it sells its proprietary technology to the Chinese OEM market.
  • In March 2022, ZF Commercial Vehicle Control Systems India Ltd. (previously Wabco India Ltd.), a subsidiary of ZF Friedrichshafen AG, announced a USD 18.9 million capacity expansion investment through a greenfield venture in Chennai. The business plans to establish a new facility on a 44-acre plot of land in Chennai's manufacturing corridor Oragadam, with production set to begin in the first quarter of 2023. The firm intends to offer certain new items to the Indian market as a result of the worldwide combination of Wabco and ZF. The business will also place the new investment through the PLI scheme since it will localize some innovative technology in the electric car area as well as some advanced
  • In September 2021, Robert Bosch GmbH unveiled its new 230 Electric Motor at Motor Bella 2021, for commercial and medium-duty vehicles, which has an 800-volt rated voltage and is intended for long service life. The constant power density was optimized in particular to allow for a compact design and easy integration into electric rigid axles. The new electric motor comes in power ratings ranging from 150 to 230 kilowatts continuous output. When paired with SiC inverter technology, the system efficiency may reach 97%. The Bosch e-axle is a single unit that houses the power electronics, electric motor, and gearbox.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 23)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION
           1.2.1 AUTOMOTIVE TRACTION MOTOR MARKET DEFINITION, BY MOTOR TYPE
           1.2.2 AUTOMOTIVE TRACTION MOTOR MARKET DEFINITION, BY EV TYPE
           1.2.3 AUTOMOTIVE TRACTION MOTOR MARKET DEFINITION, BY POWER OUTPUT
           1.2.4 AUTOMOTIVE TRACTION MOTOR MARKET DEFINITION, BY TYPE
           1.2.5 AUTOMOTIVE TRACTION MOTOR MARKET DEFINITION, BY VEHICLE TYPE
    1.3 INCLUSIONS & EXCLUSIONS
           TABLE 1 INCLUSIONS & EXCLUSIONS: AUTOMOTIVE TRACTION MOTOR MARKET
    1.4 MARKET SCOPE
           FIGURE 1 AUTOMOTIVE TRACTION MOTOR MARKET: MARKET SEGMENTATION
           1.4.1 YEARS CONSIDERED
    1.5 STAKEHOLDERS
    1.6 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 30)
    2.1 RESEARCH DATA
           FIGURE 2 RESEARCH DESIGN
           FIGURE 3 RESEARCH METHODOLOGY MODEL
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakdown of primary interviews
                    2.1.2.2 Primary participants
    2.2 MARKET ESTIMATION METHODOLOGY
           FIGURE 4 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
    2.3 MARKET SIZE ESTIMATION
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 5 AUTOMOTIVE TRACTION MOTOR MARKET SIZE: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY FOR AUTOMOTIVE TRACTION MOTOR MARKET: TOP-DOWN APPROACH
                    FIGURE 7 AUTOMOTIVE TRACTION MOTOR MARKET: RESEARCH DESIGN & METHODOLOGY
           2.3.3 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES
    2.4 DATA TRIANGULATION
           FIGURE 8 DATA TRIANGULATION
    2.5 FACTOR ANALYSIS
    2.6 RESEARCH ASSUMPTIONS
    2.7 LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 43)
    FIGURE 9 AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027
    FIGURE 10 BY EV TYPE, BEV SEGMENT ESTIMATED TO LEAD AUTOMOTIVE TRACTION MOTOR MARKET FROM 2022 TO 2027

4 PREMIUM INSIGHTS (Page No. - 46)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN AUTOMOTIVE TRACTION MOTOR MARKET
           FIGURE 11 INCREASING ADOPTION OF ELECTRIC VEHICLES AND GOVERNMENT INCENTIVES TO DRIVE MARKET IN NEXT FIVE YEARS
    4.2 AUTOMOTIVE TRACTION MOTOR MARKET, BY VEHICLE TYPE
           FIGURE 12 PASSENGER CARS SEGMENT EXPECTED TO DOMINATE MARKET FROM 2022 TO 2027
    4.3 AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE
           FIGURE 13 BEV SEGMENT PROJECTED TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
    4.4 AUTOMOTIVE TRACTION MOTOR MARKET, BY TYPE
           FIGURE 14 AC SEGMENT EXPECTED TO LEAD MARKET FROM 2022 TO 2027
    4.5 AUTOMOTIVE TRACTION MOTOR MARKET, BY POWER OUTPUT
           FIGURE 15 200-400 KW SEGMENT PROJECTED TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
    4.6 AUTOMOTIVE TRACTION MOTOR MARKET, BY MOTOR TYPE
           FIGURE 16 PMSM SEGMENT ESTIMATED TO LEAD MARKET IN 2022
    4.7 AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION
           FIGURE 17 ASIA PACIFIC ESTIMATED TO DOMINATE AUTOMOTIVE TRACTION MOTOR MARKET IN 2022

5 MARKET OVERVIEW (Page No. - 50)
    5.1 INTRODUCTION
           TABLE 2 AUTOMOTIVE TRACTION MOTOR MARKET: IMPACT OF MARKET DYNAMICS
    5.2 MARKET DYNAMICS
           FIGURE 18 AUTOMOTIVE TRACTION MOTOR: MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Increased demand for high-performance motors
                               TABLE 3 AUTOMOTIVE TRACTION MOTOR KEY MODELS AND SUPPLIERS
                    5.2.1.2 Rising demand for electric vehicles
                               FIGURE 19 GLOBAL EV SALES, 2017–2021
                               TABLE 4 GOVERNMENT INCENTIVES, BY COUNTRY
                               FIGURE 20 AVERAGE FINANCIAL SUBSIDIES AT PURCHASE PROVIDED BY VARIOUS NATIONS (IN USD) IN 2021
                    5.2.1.3 Advancements in electrical drives for traction systems
           5.2.2 RESTRAINTS
                    5.2.2.1 Less availability and price volatility of materials used in production
                               FIGURE 21 COPPER (LME) PRICE TREND (IN USD PER METRIC TON), 2019–2022
                               TABLE 5 MATERIALS USED IN ELECTRIC MOTORS
                    5.2.2.2 Lack of EV charging infrastructure
                               FIGURE 22 OVERVIEW OF PUBLICLY AVAILABLE FAST AND SLOW CHARGERS, BY COUNTRY (2017–2021)
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Implementation of stringent emission norms & environmental regulations
                               FIGURE 23 EV ADOPTION TARGETS BY COUNTRIES
                    5.2.3.2 Unstable prices of fossil fuels
                               FIGURE 24 FLUCTUATING CRUDE OIL PRICES (USD)
           5.2.4 CHALLENGES
                    5.2.4.1 Overheating of traction motors
                               FIGURE 25 NUMBER OF PATENT APPLICATIONS FOR THERMAL MANAGEMENT TECHNOLOGY FOR VEHICLES WITH MOTOR COOLING
                    5.2.4.2 Reduced subsidies for EVs
                               TABLE 6 SUBSIDIES OFFERED FOR ELECTRIC VEHICLES IN CHINA
    5.3 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 26 PORTER’S FIVE FORCES: AUTOMOTIVE TRACTION MOTOR MARKET
           TABLE 7 AUTOMOTIVE TRACTION MOTOR MARKET: IMPACT OF PORTER’S FIVE FORCES
           5.3.1 THREAT OF SUBSTITUTES
           5.3.2 THREAT OF NEW ENTRANTS
           5.3.3 BARGAINING POWER OF BUYERS
           5.3.4 BARGAINING POWER OF SUPPLIERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
    5.4 MACROECONOMIC INDICATORS
           5.4.1 GDP TRENDS AND FORECAST FOR MAJOR ECONOMIES
                    TABLE 8 GDP TRENDS AND FORECAST, BY MAJOR ECONOMIES, 2018–2026 (USD BILLION)
    5.5 SUPPLY CHAIN ANALYSIS
           FIGURE 27 AUTOMOTIVE TRACTION MOTOR MARKET: SUPPLY CHAIN ANALYSIS
    5.6 ECOSYSTEM
           FIGURE 28 ECOSYSTEM OF AUTOMOTIVE TRACTION MOTOR MARKET
           TABLE 9 AUTOMOTIVE TRACTION MOTOR MARKET: ECOSYSTEM
    5.7 PATENT ANALYSIS
           5.7.1 INTRODUCTION
                    FIGURE 29 PUBLICATION TRENDS (2012–2021)
                    TABLE 10 IMPORTANT PATENT REGISTRATIONS RELATED TO AUTOMOTIVE TRACTION MOTOR MARKET
    5.8 CASE STUDY
           5.8.1 INTELLIGENT MOTORS EQUIPPED WITH MICROCOMPUTERS
           5.8.2 DEVELOPMENT OF COMMERCIAL VEHICLE E-AXLE SYSTEMS BASED ON NVH PERFORMANCE OPTIMIZATION
    5.9 AVERAGE SELLING PRICE OF TRACTION MOTORS
           FIGURE 30 PRICE OF TRACTION MOTOR BY EV TYPE
           FIGURE 31 AVERAGE COMPONENT COST PER EV POWERTRAIN, 2021
    5.10 DETAILED LIST OF CONFERENCES AND EVENTS
           TABLE 11 AUTOMOTIVE TRACTION MOTOR MARKET: DETAILED LIST OF CONFERENCES AND EVENTS
    5.11 LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 12 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 13 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 14 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.12 TECHNOLOGY ANALYSIS
           5.12.1 INTRODUCTION
           5.12.2 HYBRID AND ELECTRIC DRIVE MODULES
           5.12.3 HIGH-POWER ELECTRIC MOTORS
                    FIGURE 32 48 VOLT ELECTRIFICATIONS
    5.13 TRADE ANALYSIS
                    TABLE 15 COUNTRY WISE ELECTRIC VEHICLE SALES (UNITS)
                    TABLE 16 ELECTRIC VEHICLE MARKET: TRADE DATA FOR MOTOR VEHICLES IN 2021 (HS 8703)
    5.14 REGULATORY OVERVIEW
                    TABLE 17 REGULATIONS FOR AUTOMOTIVE TRACTION MOTORS
           5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    TABLE 18 INFLUENCE OF KEY STAKEHOLDERS IN BUYING AUTOMOTIVE TRACTION MOTORS (%)
           5.14.2 BUYING CRITERIA
                    TABLE 19 KEY BUYING CRITERIA FOR TRACTION MOTORS
    5.15 TRENDS AND DISRUPTIONS
                    FIGURE 33 TRENDS AND DISRUPTIONS IN AUTOMOTIVE TRACTION MOTOR MARKET
    5.16 AUTOMOTIVE TRACTION MOTOR MARKET, MARKET SCENARIOS (2022–2027)
           5.16.1 MOST LIKELY SCENARIO
                    TABLE 20 AUTOMOTIVE TRACTION MOTOR MARKET: MOST LIKELY SCENARIO, BY REGION, 2022–2027 (USD MILLION)
           5.16.2 OPTIMISTIC SCENARIO
                    TABLE 21 AUTOMOTIVE TRACTION MOTOR MARKET: OPTIMISTIC SCENARIO, BY REGION, 2022–2027 (USD MILLION)
           5.16.3 PESSIMISTIC SCENARIO
                    TABLE 22 AUTOMOTIVE TRACTION MOTOR MARKET: PESSIMISTIC SCENARIO, BY REGION, 2022–2027 (USD MILLION)

6 AUTOMOTIVE TRACTION MOTOR MARKET, BY VEHICLE TYPE (Page No. - 82)
    6.1 INTRODUCTION
           FIGURE 34 AUTOMOTIVE TRACTION MOTOR MARKET, BY VEHICLE TYPE, 2022 VS. 2027
           TABLE 23 AUTOMOTIVE TRACTION MOTOR MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
           TABLE 24 AUTOMOTIVE TRACTION MOTOR MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
           TABLE 25 AUTOMOTIVE TRACTION MOTOR MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
           TABLE 26 AUTOMOTIVE TRACTION MOTOR MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
           6.1.1 OPERATIONAL DATA
                    TABLE 27 LIST OF GLOBAL TRACTION MOTOR SUPPLIERS FOR PASSENGER CARS
           6.1.2 ASSUMPTIONS
                    TABLE 28 ASSUMPTIONS: BY VEHICLE TYPE
           6.1.3 RESEARCH METHODOLOGY
    6.2 PASSENGER CARS
           6.2.1 INCREASING NUMBER OF EMISSION NORMS FOR PASSENGER CARS TO BOOST DEMAND FOR TRACTION MOTORS
                    TABLE 29 HYBRID CAR SALES DATA (UNITS)
                    TABLE 30 PASSENGER CARS: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 31 PASSENGER CARS: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 32 PASSENGER CARS: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 33 PASSENGER CARS: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    6.3 TRUCKS
           6.3.1 INCREASING SALES OF ELECTRIC MEDIUM AND HEAVY TRUCKS FOR SHORT AND LONG RANGES TO BOOST MARKET
                    TABLE 34 TRUCKS: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 35 TRUCKS: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 36 TRUCKS: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 37 TRUCKS: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    6.4 BUSES
           6.4.1 HIGH DEMAND FROM MAJOR OEMS IN ASIA PACIFIC TO DRIVE MARKET SIGNIFICANTLY
                    TABLE 38 ELECTRIC BUS DATA BASED ON PROPULSION
                    TABLE 39 BUSES: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 40 BUSES: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 41 BUSES: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 42 BUSES: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    6.5 PICKUP TRUCKS
           6.5.1 ELECTRIC PICKUP TRUCK SALES TO GROW WITH BEST-IN-CLASS OFFERINGS FROM OEMS
                    TABLE 43 PICKUP TRUCKS: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 44 PICKUP TRUCKS: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 45 PICKUP TRUCKS: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 46 PICKUP TRUCKS: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    6.6 VANS
           6.6.1 INCREASING DEMAND FOR ELECTRIC VANS TO DRIVE MARKET
                    TABLE 47 ELECTRIC VAN MODELS
                    TABLE 48 VANS: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (UNITS)
                    TABLE 49 VANS: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (UNITS)
                    TABLE 50 VANS: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 51 VANS: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    6.7 KEY PRIMARY INSIGHTS
           FIGURE 35 KEY PRIMARY INSIGHTS

7 AUTOMOTIVE TRACTION MOTOR MARKET, BY POWER OUTPUT (Page No. - 100)
    7.1 INTRODUCTION
           FIGURE 36 AUTOMOTIVE TRACTION MOTOR MARKET, BY POWER OUTPUT, 2022 VS. 2027
           TABLE 52 AUTOMOTIVE TRACTION MOTOR MARKET, BY POWER OUTPUT, 2018–2021 (THOUSAND UNITS)
           TABLE 53 AUTOMOTIVE TRACTION MOTOR MARKET, BY POWER OUTPUT, 2022–2027 (THOUSAND UNITS)
           TABLE 54 AUTOMOTIVE TRACTION MOTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
           TABLE 55 AUTOMOTIVE TRACTION MOTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
           7.1.1 OPERATIONAL DATA
                    TABLE 56 ELECTRIC VEHICLE AND ELECTRIC COMMERCIAL VEHICLE DATA BASED ON POWER OUTPUT
           7.1.2 ASSUMPTIONS
                    TABLE 57 ASSUMPTIONS: BY POWER OUTPUT
           7.1.3 RESEARCH METHODOLOGY
    7.2 LESS THAN 200 KW
           7.2.1 ELECTRIFICATION OF PASSENGER CARS TO DRIVE SEGMENT
                    TABLE 58 LESS THAN 200 KW: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 59 LESS THAN 200 KW: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 60 LESS THAN 200 KW: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 61 LESS THAN 200 KW: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.3 200–400 KW
           7.3.1 DEMAND FROM APPLICATIONS SUCH AS ELECTRIC BUSES AND TRUCKS TO DRIVE SEGMENT
                    TABLE 62 200−400 KW: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 63 200−400 KW: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 64 200−400 KW: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 65 200−400 KW: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.4 ABOVE 400 KW
           7.4.1 INCREASING RATE OF URBANIZATION AND GROWING POPULATION TO DRIVE DEMAND FOR ABOVE 400 KW POWER MOTORS
                    TABLE 66 ABOVE 400 KW: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 67 ABOVE 400 KW: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.5 KEY PRIMARY INSIGHTS
           FIGURE 37 KEY PRIMARY INSIGHTS

8 AUTOMOTIVE TRACTION MOTOR MARKET, BY MOTOR TYPE (Page No. - 111)
    8.1 INTRODUCTION
           FIGURE 38 AUTOMOTIVE TRACTION MOTOR MARKET, BY MOTOR TYPE, 2022 VS. 2027
           TABLE 68 AUTOMOTIVE TRACTION MOTOR MARKET, BY MOTOR TYPE, 2018–2021 (THOUSAND UNITS)
           TABLE 69 AUTOMOTIVE TRACTION MOTOR MARKET, BY MOTOR TYPE, 2022–2027 (THOUSAND UNITS)
           TABLE 70 AUTOMOTIVE TRACTION MOTOR MARKET, BY MOTOR TYPE, 2018–2021 (USD MILLION)
           TABLE 71 AUTOMOTIVE TRACTION MOTOR MARKET, BY MOTOR TYPE, 2022–2027 (USD MILLION)
           8.1.1 OPERATIONAL DATA
                    TABLE 72 GOVERNMENT PROGRAMS FOR PROMOTION OF ELECTRIC COMMERCIAL VEHICLE SALES
           8.1.2 RESEARCH METHODOLOGY
           8.1.3 ASSUMPTIONS
                    TABLE 73 ASSUMPTIONS: BY MOTOR TYPE
    8.2 PMSM
           8.2.1 SUITED TO HIGH-PERFORMANCE APPLICATIONS
                    TABLE 74 PMSM: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 75 PMSM: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 76 PMSM: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 77 PMSM: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    8.3 AC INDUCTION MOTOR
           8.3.1 LIMITED COMPLEXITY AND LOW COST TO DRIVE DEMAND
                    TABLE 78 AC INDUCTION MOTOR: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 79 AC INDUCTION MOTOR: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 80 AC INDUCTION MOTOR: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 81 AC INDUCTION MOTOR: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    8.4 KEY PRIMARY INSIGHTS
           FIGURE 39 KEY PRIMARY INSIGHTS

9 AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE (Page No. - 119)
    9.1 INTRODUCTION
           FIGURE 40 AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022 VS. 2027
           TABLE 82 AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (THOUSAND UNITS)
           TABLE 83 AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (THOUSAND UNITS)
           TABLE 84 AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (USD MILLION)
           TABLE 85 AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (USD MILLION)
           9.1.1 OPERATIONAL DATA
                    TABLE 86 ELECTRIC VEHICLE MODELS, BY PROPULSION TYPE
           9.1.2 RESEARCH METHODOLOGY
           9.1.3 ASSUMPTIONS
                    TABLE 87 ASSUMPTIONS: BY EV TYPE
    9.2 BATTERY ELECTRIC VEHICLE (BEV)
           9.2.1 INCREASE IN VEHICLE RANGE PER CHARGE TO RAISE DEMAND
                    TABLE 88 BEV: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 89 BEV: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 90 BEV: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 91 BEV: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.3 HYBRID ELECTRIC VEHICLE (HEV)
           9.3.1 LESSER REQUIREMENT FOR ELECTRIC POWER INCREASES DEMAND FOR HEVS
                    TABLE 92 HEV: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 93 HEV: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 94 HEV: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 95 HEV: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.4 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV)
           9.4.1 HIGH ELECTRIC RANGE OF PHEVS TO DRIVE MARKET SIGNIFICANTLY
                    TABLE 96 PHEV: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 97 PHEV: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                    TABLE 98 PHEV: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 99 PHEV: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.5 KEY PRIMARY INSIGHTS
           FIGURE 41 KEY PRIMARY INSIGHTS

10 AUTOMOTIVE TRACTION MOTOR MARKET, BY TYPE (Page No. - 129)
     10.1 INTRODUCTION
               FIGURE 42 AUTOMOTIVE TRACTION MOTOR MARKET, BY TYPE, 2022 VS. 2027
               TABLE 100 AUTOMOTIVE TRACTION MOTOR MARKET, BY TYPE, 2018–2021 (THOUSAND UNITS)
               TABLE 101 AUTOMOTIVE TRACTION MOTOR MARKET, BY TYPE, 2022–2027 (THOUSAND UNITS)
               TABLE 102 AUTOMOTIVE TRACTION MOTOR MARKET, BY TYPE, 2018–2021 (USD MILLION)
               TABLE 103 AUTOMOTIVE TRACTION MOTOR MARKET, BY TYPE, 2022–2027 (USD MILLION)
             10.1.1 OPERATIONAL DATA
                       TABLE 104 DIFFERENCE BETWEEN AC AND DC MOTORS
             10.1.2 ASSUMPTIONS
                       TABLE 105 ASSUMPTIONS: BY MATERIAL TYPE
             10.1.3 RESEARCH METHODOLOGY
     10.2 DC
             10.2.1 OPERATIONAL BENEFITS SUCH AS LOW NOISE AND LESS MAINTENANCE RAISE DEMAND FOR DC MOTORS
                       TABLE 106 DC: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 107 DC: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 108 DC: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 109 DC: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.3 AC
             10.3.1 HIGH EFFICIENCY AND LOW MANUFACTURING COST TO FUEL DEMAND FOR AC MOTORS
                       TABLE 110 AC: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 111 AC: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 112 AC: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 113 AC: AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.4 KEY PRIMARY INSIGHTS
               FIGURE 43 KEY PRIMARY INSIGHTS

11 AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION (Page No. - 137)
     11.1 INTRODUCTION
               FIGURE 44 AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022 VS. 2027
               TABLE 114 AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
               TABLE 115 AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
               TABLE 116 AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
               TABLE 117 AUTOMOTIVE TRACTION MOTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
     11.2 ASIA PACIFIC
               FIGURE 45 ASIA PACIFIC: AUTOMOTIVE TRACTION MOTOR MARKET SNAPSHOT
               TABLE 118 ASIA PACIFIC: AUTOMOTIVE TRACTION MOTOR MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
               TABLE 119 ASIA PACIFIC: AUTOMOTIVE TRACTION MOTOR MARKET, BY COUNTRY, 2022–2027 (THOUSAND UNITS)
               TABLE 120 ASIA PACIFIC: AUTOMOTIVE TRACTION MOTOR MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
               TABLE 121 ASIA PACIFIC: AUTOMOTIVE TRACTION MOTOR MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             11.2.1 CHINA
                       11.2.1.1 Heavy investments in EVs and stringent emission norms to boost market growth
                                   TABLE 122 CHINA: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 123 CHINA: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 124 CHINA: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (USD MILLION)
                                   TABLE 125 CHINA: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (USD MILLION)
             11.2.2 JAPAN
                       11.2.2.1 Strong government support to reinforce transportation efficiency to offer lucrative opportunities to market players
                                   TABLE 126 JAPAN: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 127 JAPAN: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 128 JAPAN: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (USD MILLION)
                                   TABLE 129 JAPAN: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (USD MILLION)
             11.2.3 INDIA
                       11.2.3.1 Major government initiatives to promote EV ecosystem to drive market
                                   TABLE 130 INDIA: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (UNITS)
                                   TABLE 131 INDIA: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (UNITS)
                                   TABLE 132 INDIA: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (USD THOUSAND)
                                   TABLE 133 INDIA: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (USD THOUSAND)
             11.2.4 SOUTH KOREA
                       11.2.4.1 High investment in EV projects to drive demand for automotive traction motors
                                   TABLE 134 SOUTH KOREA: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 135 SOUTH KOREA: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 136 SOUTH KOREA: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (USD MILLION)
                                   TABLE 137 SOUTH KOREA: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (USD MILLION)
     11.3 EUROPE
               FIGURE 46 EUROPE: AUTOMOTIVE TRACTION MOTOR MARKET SNAPSHOT
               TABLE 138 EUROPE: AUTOMOTIVE TRACTION MOTOR MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
               TABLE 139 EUROPE: AUTOMOTIVE TRACTION MOTOR MARKET, BY COUNTRY, 2022–2027 (THOUSAND UNITS)
               TABLE 140 EUROPE: AUTOMOTIVE TRACTION MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
               TABLE 141 EUROPE: AUTOMOTIVE TRACTION MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             11.3.1 FRANCE
                       11.3.1.1 Increasing adoption of electric vehicles to fuel market growth
                                   TABLE 142 FRANCE: ELECTRIC VEHICLE CHARGING STATION INCENTIVES
                                   TABLE 143 FRANCE: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 144 FRANCE: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 145 FRANCE: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (USD MILLION)
                                   TABLE 146 FRANCE: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (USD MILLION)
             11.3.2 GERMANY
                       11.3.2.1 Increasing adoption of electric vehicles, growing focus on renewable energy capacity development programs, and presence of major automobile companies to fuel market growth
                                   TABLE 147 GERMANY: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 148 GERMANY: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 149 GERMANY: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (USD MILLION)
                                   TABLE 150 GERMANY: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (USD MILLION)
             11.3.3 SPAIN
                       11.3.3.1 Rising adoption of EVs to increase demand for automotive traction motors
                                   TABLE 151 SPAIN: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 152 SPAIN: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 153 SPAIN: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (USD MILLION)
                                   TABLE 154 SPAIN: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (USD MILLION)
             11.3.4 ITALY
                       11.3.4.1 Increasing adoption of EVs and focus on utilizing renewable energy sources to boost market
                                   TABLE 155 ITALY: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 156 ITALY: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 157 ITALY: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (USD MILLION)
                                   TABLE 158 ITALY: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (USD MILLION)
             11.3.5 UK
                       11.3.5.1 Rising EV demand to push market growth
                                   TABLE 159 UK: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 160 UK: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 161 UK: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (USD MILLION)
                                   TABLE 162 UK: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (USD MILLION)
     11.4 NORTH AMERICA
               TABLE 163 NORTH AMERICA: AUTOMOTIVE TRACTION MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
               TABLE 164 NORTH AMERICA: AUTOMOTIVE TRACTION MARKET, BY COUNTRY, 2022–2027 (THOUSAND UNITS)
               TABLE 165 NORTH AMERICA: AUTOMOTIVE TRACTION MOTOR MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
               TABLE 166 NORTH AMERICA: AUTOMOTIVE TRACTION MOTOR MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             11.4.1 US
                       11.4.1.1 Growth in electric cars segment to fuel demand for automotive traction motors
                                   FIGURE 47 US EV MARKET
                                   TABLE 167 US: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 168 US: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 169 US: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (USD MILLION)
                                   TABLE 170 US: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (USD MILLION)
             11.4.2 CANADA
                       11.4.2.1 Government support to promote EVs and rising investment in EV infrastructure to boost market
                                   TABLE 171 CANADA: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 172 CANADA: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 THOUSAND UNITS)
                                   TABLE 173 CANADA: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2018–2021 (USD MILLION)
                                   TABLE 174 CANADA: AUTOMOTIVE TRACTION MOTOR MARKET, BY EV TYPE, 2022–2027 (USD MILLION)

12 COMPETITIVE LANDSCAPE (Page No. - 170)
     12.1 OVERVIEW
     12.2 MARKET SHARE ANALYSIS FOR AUTOMOTIVE TRACTION MOTOR MARKET
               TABLE 175 MARKET SHARE ANALYSIS, 2021
               FIGURE 48 MARKET SHARE ANALYSIS, 2021
             12.2.1 BORGWARNER INC.
             12.2.2 BYD CO., LTD.
             12.2.3 SCHAEFFLER GROUP
             12.2.4 ROBERT BOSCH GMBH
             12.2.5 ZF FRIEDRICHSHAFEN AG
     12.3 KEY PLAYER STRATEGIES
               TABLE 176 OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN AUTOMOTIVE TRACTION MOTOR MARKET
     12.4 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS
               FIGURE 49 TOP PUBLIC/LISTED PLAYERS DOMINATING AUTOMOTIVE TRACTION MOTOR MARKET, 2017–2021
     12.5 COMPETITIVE SCENARIO
             12.5.1 NEW PRODUCT LAUNCHES
                       TABLE 177 NEW PRODUCT LAUNCHES, 2021–2022
             12.5.2 DEALS
                       TABLE 178 DEALS, 2021–2022
             12.5.3 OTHERS
                       TABLE 179 OTHERS, 2021–2022
     12.6 COMPANY EVALUATION QUADRANT
             12.6.1 STARS
             12.6.2 EMERGING LEADERS
             12.6.3 PERVASIVE PLAYERS
             12.6.4 PARTICIPANTS
                       FIGURE 50 AUTOMOTIVE TRACTION MOTOR MARKET: COMPANY EVALUATION QUADRANT, 2022
                       TABLE 180 AUTOMOTIVE TRACTION MOTOR MARKET: COMPANY FOOTPRINT, 2022
                       TABLE 181 AUTOMOTIVE TRACTION MOTOR MARKET: PRODUCT FOOTPRINT, 2022
                       TABLE 182 AUTOMOTIVE TRACTION MOTOR MARKET: REGIONAL FOOTPRINT, 2022
     12.7 START-UP/SME EVALUATION QUADRANT
             12.7.1 PROGRESSIVE COMPANIES
             12.7.2 RESPONSIVE COMPANIES
             12.7.3 DYNAMIC COMPANIES
             12.7.4 STARTING BLOCKS
                       FIGURE 51 AUTOMOTIVE TRACTION MOTOR MARKET: START-UP/SME EVALUATION QUADRANT, 2022
                       TABLE 183 AUTOMOTIVE TRACTION MOTOR MARKET: DETAILED LIST OF KEY START-UPS/SMES
                       TABLE 184 AUTOMOTIVE TRACTION MOTOR MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS [START-UPS/SMES]

13 COMPANY PROFILES (Page No. - 190)
(Business overview, Products offered, Recent developments & MnM View)*
     13.1 KEY PLAYERS
             13.1.1 BORGWARNER INC.
                       TABLE 185 BORGWARNER INC.: BUSINESS OVERVIEW
                       FIGURE 52 BORGWARNER INC.: COMPANY SNAPSHOT
                       TABLE 186 BORGWARNER INC.: SUPPLY AGREEMENTS
                       TABLE 187 BORGWARNER INC.: PRODUCTS OFFERED
                       TABLE 188 BORGWARNER INC.: NEW PRODUCT DEVELOPMENTS
                       TABLE 189 BORGWARNER INC.: DEALS
                       TABLE 190 BORGWARNER INC.: OTHERS
             13.1.2 BYD CO., LTD.
                       TABLE 191 BYD CO., LTD.: BUSINESS OVERVIEW
                       FIGURE 53 BYD CO., LTD.: COMPANY SNAPSHOT
                       TABLE 192 BYD CO., LTD.: SUPPLY AGREEMENTS
                       TABLE 193 BYD CO., LTD.: PRODUCTS OFFERED
                       TABLE 194 BYD CO., LTD.: NEW PRODUCT DEVELOPMENTS
                       TABLE 195 BYD CO., LTD.: DEALS
                       TABLE 196 BYD CO., LTD.: OTHERS
             13.1.3 SCHAEFFLER GROUP
                       TABLE 197 SCHAEFFLER GROUP: BUSINESS OVERVIEW
                       FIGURE 54 SCHAEFFLER GROUP: COMPANY SNAPSHOT
                       TABLE 198 SCHAEFFLER GROUP: SUPPLY AGREEMENTS
                       TABLE 199 SCHAEFFLER GROUP: PRODUCTS OFFERED
                       TABLE 200 SCHAEFFLER GROUP: NEW PRODUCT DEVELOPMENTS
                       TABLE 201 SCHAEFFLER GROUP: DEALS
                       TABLE 202 SCHAEFFLER GROUP: OTHERS
             13.1.4 ROBERT BOSCH GMBH
                       TABLE 203 ROBERT BOSCH GMBH: BUSINESS OVERVIEW
                       FIGURE 55 ROBERT BOSCH GMBH: COMPANY SNAPSHOT
                       TABLE 204 ROBERT BOSCH GMBH: SUPPLY AGREEMENTS
                       TABLE 205 ROBERT BOSCH GMBH: PRODUCTS OFFERED
                       TABLE 206 ROBERT BOSCH GMBH: NEW PRODUCT DEVELOPMENTS
                       TABLE 207 ROBERT BOSCH GMBH: DEALS
                       TABLE 208 ROBERT BOSCH GMBH: OTHERS
             13.1.5 ZF FRIEDRICHSHAFEN AG
                       TABLE 209 ZF FRIEDRICHSHAFEN AG: BUSINESS OVERVIEW
                       FIGURE 56 ZF FRIEDRICHSHAFEN AG: COMPANY SNAPSHOT
                       TABLE 210 ZF FRIEDRICHSHAFEN AG: SUPPLY AGREEMENTS
                       TABLE 211 ZF FRIEDRICHSHAFEN AG: PRODUCTS OFFERED
                       TABLE 212 ZF FRIEDRICHSHAFEN AG: NEW PRODUCT DEVELOPMENTS
                       TABLE 213 ZF FRIEDRICHSHAFEN AG: DEALS
                       TABLE 214 ZF FRIEDRICHSHAFEN AG: OTHERS
             13.1.6 JOHNSON ELECTRIC HOLDINGS LTD.
                       TABLE 215 JOHNSON ELECTRIC HOLDINGS LTD.: BUSINESS OVERVIEW
                       FIGURE 57 JOHNSON ELECTRIC HOLDINGS LTD.: COMPANY SNAPSHOT
                       TABLE 216 JOHNSON ELECTRIC HOLDINGS LTD.: PRODUCTS OFFERED
             13.1.7 CONTINENTAL AG
                       TABLE 217 CONTINENTAL AG: BUSINESS OVERVIEW
                       FIGURE 58 CONTINENTAL AG: COMPANY SNAPSHOT
                       TABLE 218 CONTINENTAL AG: SUPPLY AGREEMENTS
                       TABLE 219 CONTINENTAL AG: PRODUCTS OFFERED
                       TABLE 220 CONTINENTAL AG: NEW PRODUCT DEVELOPMENTS
                       TABLE 221 CONTINENTAL AG: DEALS
                       TABLE 222 CONTINENTAL AG: OTHERS
             13.1.8 VALEO S.A.
                       TABLE 223 VALEO S.A.: BUSINESS OVERVIEW
                       FIGURE 59 VALEO S.A.: COMPANY SNAPSHOT
                       TABLE 224 VALEO S.A.: SUPPLY AGREEMENTS
                       TABLE 225 VALEO S.A.: PRODUCTS OFFERED
                       TABLE 226 VALEO S.A.: NEW PRODUCT DEVELOPMENTS
                       TABLE 227 VALEO S.A.: DEALS
             13.1.9 MAHLE GROUP
                       TABLE 228 MAHLE GROUP: BUSINESS OVERVIEW
                       FIGURE 60 MAHLE GROUP: COMPANY SNAPSHOT
                       TABLE 229 MAHLE GROUP: PRODUCTS OFFERED
                       TABLE 230 MAHLE GROUP: NEW PRODUCT DEVELOPMENTS
                       TABLE 231 MAHLE GROUP: DEALS
                       TABLE 232 MAHLE GROUP: OTHERS
             13.1.10 NIDEC CORPORATION
                       TABLE 233 NIDEC CORPORATION: BUSINESS OVERVIEW
                       FIGURE 61 NIDEC CORPORATION: COMPANY SNAPSHOT
                       TABLE 234 NIDEC CORPORATION: SUPPLY AGREEMENTS
                       TABLE 235 NIDEC CORPORATION: PRODUCTS OFFERED
                       TABLE 236 NIDEC CORPORATION: NEW PRODUCT DEVELOPMENTS
                       TABLE 237 NIDEC CORPORATION: DEALS
                       TABLE 238 NIDEC CORPORATION: OTHERS
             13.1.11 MITSUBA CORPORATION
                       TABLE 239 MITSUBA CORPORATION: BUSINESS OVERVIEW
                       FIGURE 62 MITSUBA CORPORATION: COMPANY SNAPSHOT
                       TABLE 240 MITSUBA CORPORATION: PRODUCTS OFFERED
             13.1.12 ZHEJIANG FOUNDER MOTOR CO., LTD.
                       TABLE 241 ZHEJIANG FOUNDER MOTOR CO., LTD.: BUSINESS OVERVIEW
                       FIGURE 63 ZHEJIANG FOUNDER MOTOR CO., LTD.: COMPANY SNAPSHOT
                       TABLE 242 ZHEJIANG FOUNDER MOTOR CO., LTD.: SUPPLY AGREEMENTS
                       TABLE 243 ZHEJIANG FOUNDER MOTOR CO., LTD.: PRODUCTS OFFERED
                       TABLE 244 ZHEJIANG FOUNDER MOTOR CO., LTD.: DEALS
                       TABLE 245 ZHEJIANG FOUNDER MOTOR CO., LTD.: OTHERS
             13.1.13 SHENZHEN INOVANCE TECHNOLOGY CO., LTD.
                       TABLE 246 SHENZHEN INOVANCE TECHNOLOGY CO., LTD.: BUSINESS OVERVIEW
                       FIGURE 64 SHENZHEN INOVANCE TECHNOLOGY CO., LTD.: COMPANY SNAPSHOT
                       TABLE 247 SHENZHEN INOVANCE TECHNOLOGY CO., LTD.: SUPPLY AGREEMENTS
                       TABLE 248 SHENZHEN INOVANCE TECHNOLOGY CO., LTD.: PRODUCTS OFFERED
                       TABLE 249 SHENZHEN INOVANCE TECHNOLOGY CO., LTD.: DEALS
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
     13.2 OTHER PLAYERS
             13.2.1 DENSO CORPORATION
                       TABLE 250 DENSO CORPORATION: BUSINESS OVERVIEW
             13.2.2 JING-JIN ELECTRIC
                       TABLE 251 JING-JIN ELECTRIC: BUSINESS OVERVIEW
             13.2.3 SHANGHAI EDRIVE CO., LTD.
                       TABLE 252 SHANGHAI EDRIVE CO., LTD.: BUSINESS OVERVIEW
             13.2.4 UNITED AUTOMOTIVE ELECTRONICS CO., LTD.
                       TABLE 253 UNITED AUTOMOTIVE ELECTRONICS CO., LTD.: BUSINESS OVERVIEW
             13.2.5 ZHUHAI ENPOWER ELECTRIC CO., LTD.
                       TABLE 254 ZHUHAI ENPOWER ELECTRIC CO., LTD.: BUSINESS OVERVIEW
             13.2.6 SHUANGLIN GROUP
                       TABLE 255 SHUANGLIN GROUP: BUSINESS OVERVIEW
             13.2.7 ZHUZHOU CRRC TIMES ELECTRIC CO., LTD.
                       TABLE 256 ZHUZHOU CRRC TIMES ELECTRIC CO., LTD.: BUSINESS OVERVIEW
             13.2.8 XPT DRIVE TECHNOLOGY
                       TABLE 257 XPT DRIVE TECHNOLOGY: BUSINESS OVERVIEW
             13.2.9 AISIN CORPORATION
                       TABLE 258 AISIN CORPORATION: BUSINESS OVERVIEW
             13.2.10 GKN AUTOMOTIVE LIMITED
                       TABLE 259 GKN AUTOMOTIVE LIMITED: BUSINESS OVERVIEW
             13.2.11 ANAND MANDO EMOBILITY
                       TABLE 260 ANAND MANDO EMOBILITY: BUSINESS OVERVIEW
             13.2.12 HYUNDAI TRANSYS INC.
                       TABLE 261 HYUNDAI TRANSYS INC.: BUSINESS OVERVIEW

14 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 269)
     14.1 ASIA PACIFIC TO BE MAJOR MARKET FOR AUTOMOTIVE TRACTION MOTORS
     14.2 RISING DEMAND FOR HEVS TO CREATE OPPORTUNITIES FOR MARKET GROWTH IN COMING YEARS
     14.3 CONCLUSION

15 APPENDIX (Page No. - 271)
     15.1 KEY INSIGHTS FROM INDUSTRY EXPERTS
     15.2 DISCUSSION GUIDE
     15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     15.4 CUSTOMIZATION OPTIONS
     15.5 RELATED REPORTS
     15.6 AUTHOR DETAILS

Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred for this research study included publications from government sources [such as country level automotive associations and organizations, Organisation for Economic Co-operation and Development (OECD), World Bank, CDC, and Eurostat]; corporate and regulatory filings (such as annual reports, SEC filings, investor presentations, and financial statements); business magazines and research journals; press releases; free and paid automotive databases such as The International Energy Agency, EV-volumes, Alternative Fuels Data Center (AFDC), the European Alternative Fuels Observatory (EAFO), Automotive Electronics Council (AEC) and other associations/organizations. Secondary data was collected and analyzed to arrive at the overall size of the global market, which was validated by primary research.

Primary Research

Extensive primary research was conducted after acquiring an understanding of the global automotive traction motor market scenarios through secondary research. Several primary interviews were conducted with market experts from both the demand (country-level government associations, trade associations, institutes, R&D centers, and OEMs/vehicle manufacturers) and supply (traction motor manufacturers, traction motor component manufacturers, and raw material suppliers) sides across three major regions, namely, North America, Europe, and Asia Pacific. In this study, 21% of the experts involved in primary interviews were from the demand side, and 79% were from the supply side of the industry. Primary data was collected through questionnaires, emails, and telephonic interviews. Several primary interviews were conducted from various departments within organizations, such as sales, operations, administration, and so on, to provide a holistic viewpoint in the report.

After interacting with industry participants, some brief sessions were conducted with experienced independent consultants to reinforce the findings from the primaries. This, along with the in-house subject matter experts’ opinions, led to the findings delineated in the rest of this report.

In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information for the report. The primary sources from the supply side included industry experts, such as chief executive officers (CEOs), vice presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various key companies and organizations. The primary sources from the demand side included end-users, such as chief information officers (CIOs), consultants, service professionals, technicians and technologists, and managers at public and investor-owned utilities.

Automotive Traction Motor Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The bottom-up and top-down approaches were used to estimate and validate the size of the global automotive traction motor market. In these approaches, the electric vehicle sales statistics for each electric vehicle type (BEV, PHEV, and HEV) at a country level were considered.

In the bottom-up approach, the number of electric vehicle sales of each electric vehicle type at the country level was considered. The number of traction motors per vehicle was identified through model mapping and secondary research. The sale of electric vehicles at the country level was then multiplied with the number of traction motors in each EV type to determine the market size of the automotive traction motor market in terms of volume. The country-level market size, in terms of volume, by EV type, was then multiplied with the country-level average traction motor selling price (ASP) of each electric vehicle type to determine the market size in terms of value for each EV type. The summation of the country-level market size for each EV type, by volume and value, would give the regional level market size. The summation of the regional markets provides the global automotive traction motor market size. The market size for vehicle type was derived from the global market.

The top-down approach was used to estimate and validate the size of the automotive traction motor market by motor type, power output, and type. To derive the market size by type, the global market size in terms of volume and value was divided into AC and DC using the penetration and percentage split, respectively. The global market was further segmented at the regional level. A similar approach was used to derive the market size of motor type and power output segments in terms of volume and value.

Data Triangulation

After arriving at the overall market size of the global market through the abovementioned methodology, this market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact market value data for the key segments and subsegments. The extrapolated market data was triangulated by studying various macro indicators and regional trends from both the demand- and supply-side participants.

Report Objectives

  • To define, describe, and project the automotive traction motor market by volume
    (thousand units) and value (USD million/USD Billion)
  • To define, describe, and forecast the market based on type, motor type, EV type, power output, vehicle type, and region.
  • To analyze and forecast market size, in terms of volume and value, based on type (AC and DC)
  • To analyze and forecast the market size, in terms of volume and value, based on motor type (PMSM and AC induction motor)
  • To analyze and forecast the market size, in terms of volume and value, based on EV type {battery electric vehicle (BEV), hybrid electric vehicle (HEV), and plug-hybrid electric vehicle (PHEV).
  • To analyze and forecast the market size, in terms of volume and value, based on vehicle type (passenger cars, buses, pickup trucks, trucks, and vans)
  • To analyze and forecast the market size, by volume and value, based on power output
    (less than 200 kW, 200–400 kW, and above 400 kW)
  • To forecast the size of various segments of the market based on three regions—North America, Europe, and Asia Pacific, along with major countries in each region
  • To analyze the technological developments impacting the automotive traction motors market
  • To analyze opportunities for stakeholders and the competitive landscape for market leaders
  • To provide detailed information regarding the major factors influencing the market growth (drivers, challenges, restraints, and opportunities)
  • To strategically analyze markets with respect to individual growth trends, prospects, and contributions to the total market
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • To track and analyze competitive developments such as deals (joint ventures, mergers & acquisitions, partnerships, and supply agreements), new product development, and other activities carried out by key industry participants 

Available Customizations

Along with the market data, MarketsandMarkets offers customizations in line with the company’s specific needs.

  • Automotive Traction Motor Market, by vehicle type at country-level (for countries covered in the report)
  • Automotive Traction Motor Market, by motor type at country-level (for countries covered in the report)
Automotive Traction Motor Market Size,  Share & Growth Report
Report Code
AT 7854
Published ON
Sep, 2022
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