Automotive Traction Motor Market

Market Leader - Automotive Traction Motor Market

The global automotive traction motor market is projected to grow at a CAGR of 33.7% from USD 4.1 billion in 2021 to USD 17.3 billion by 2026. High demand of electric passenger and commercial vehilces as well as improving high performance of motors will be driving the growth of automotive traction motor market.

Traction motors are used in electrically powered rail and road vehicles to convert electrical energy to mechanical energy so that the vehicle is propelled to overcome aerodynamic drag, rolling resistance drag, and kinetic resistance. These motors usually require frequent start/stop, high rate of acceleration/deceleration, high-torque low-speed hill-climbing, low-torque high-speed cruising, and a very wide speed range of operation. They are extremely energy efficient and have advanced designs. The compact structure of traction motors enables the drive system to be optimized to the available spaces in the vehicle.

With future growth being forecast for PHEVs and BEVs, major Tier I companies have directed their R&D toward traction motors. For instance, Siemenss traction asynchronous motors use copper in the rotor design, which lowers losses due to the metals superior conductivity. These lower losses translate into higher energy efficiency and an increased power-to-weight ratio. Nidecs new traction motor system is used in compact cars as well as SUVs and is compatible with AWD vehicles due to an optional clutch mechanism that can be disengaged when only two of the wheels need to be powered.

Players in the market like Nidec Corporation, Rober Bosch GmbH, Contintntal AG, BorgWarner Inc., and Schaeffler Group manufacture traction motors for cars, buses, and trucks.

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The automotive traction motor market is dominated by established players such as BorgWarner Inc. (US), Schaeffler Group (Germany), Nidec Corporation (Japan), Robert Bosch GmbH (Germany), and ZF Friedrichshafen AG (Germany). These companies adopted various strategies such as new product developments, expansions, supply contracts, collaborations, and partnerships to gain traction in the automotive traction motor market.

BorgWarner Inc.: The company has a strong global presence with production facilities and clients spread across the world. It has engaged in significant product development, which might give it an edge over competitors. BorgWarner Inc. has recently acquired large players like Delphi, giving it access to newer resources and technical know-how, particularly related to new age Electric Vehicles (EVs).

Schaeffler Group: The company has long experience in the automotive components segment, which compounded with its recent developments in traction motors will create strong growth potential. Schaeffler Group is also the technology partner of various companies like Audi and BMW in racing tournaments, including e-racing tournaments like Formula E ; this will enable the company to make continuous developments in its motor and powertrain systems.

Schaeffler Group has a presence in the traction motor for passenger vehicles and has also entered the heavy-duty vehicle segment in February 2021. With mass-production of hybrid drive units starting in 2021, the company may gain a larger market share.

Related Reports:

Automotive Traction Motor Market by Motor Type (PMSM, DC Brushless, and 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 and CV) & Region - Global Forecast to 2026

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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USA : 1-888-600-6441
[email protected]

Report Code
AT 7854
RI Published ON
3/12/2021
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