Electric Commercial Vehicle Traction Motor Market

Electric Commercial Vehicle Traction Motor Industry - ZF Friedrichshafen AG (Germany), Dana Limited (US), Robert Bosch GmbH (Germany), Magna International Inc. (Germany) and Allison Transmission, Inc. (US) are Leading Players

The global Electric Commercial Vehicle Traction Motor market is projected to grow from USD 2.1 billion in 2024 to USD 9.8 billion by 2030, registering a CAGR of 28.8%. The electric commercial vehicle (ECV) traction motor market for vehicles such as trucks, pickup trucks, vans and buses is experiencing a surge fueled by significant driver the global push towards sustainability and reducing carbon emissions. With governments imposing stricter regulations on vehicle emissions, manufacturers are increasingly turning to electric propulsion systems. This shift towards electrification has propelled the demand for ECV traction motors, as they offer a cleaner and more efficient alternative to traditional internal combustion engines. Additionally, advancements in battery technology have extended the range and improved the performance of electric vehicles, further boosting the adoption of ECV traction motors.

Moreover, the rising demand for last-mile delivery services and the burgeoning e-commerce sector have played a pivotal role in expanding the ECV traction motor market. As online shopping continues to soar, there is a growing need for efficient and environmentally friendly delivery solutions. Electric commercial vehicles, powered by traction motors, offer a sustainable means of transporting goods within urban areas while reducing operational costs and minimizing environmental impact. Furthermore, favorable government initiatives, such as subsidies and incentives for electric vehicle adoption, have incentivized fleet operators and logistics companies to invest in ECVs, thereby driving the growth of the traction motor market.

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

The Electric Commercial Vehicle TractionMotor market is dominated by established players such as ZF Friedrichshafen AG (Germany), Dana Limited (US), Robert Bosch GmbH (Germany), Magna International Inc. (Germany), Allison Transmission, Inc. (US). and others. These companies adopted strategies such as product developments, deals, and others to gain traction in the market.

ZF Friedrichshafen AG (Germany)

ZF Friedrichshafen AG has continuously innovated and adapted to meet the evolving needs of the automotive industry. Its traction motors have cutting-edge design, exceptional performance, and seamless integration into electric and hybrid vehicles. These motors play a pivotal role in powering a wide range of vehicles, from passenger cars to commercial fleets, contributing to the advancement of sustainable transportation solutions worldwide. In June 2023, ZF developed a cooling concept that involves directly flowing oil around the copper rods within the motor, where the most heat is generated. By directly cooling the hottest areas, ZF claims to achieve significantly higher heat transfer than traditional methods.

Dana Limited (US)

Dana Limited holds a prominent position in the design, engineering, and manufacture of drivetrain and propulsion technologies, including traction motors for electric and electric commercial vehicles. With a rich history spanning more than a century, Dana has established itself as a trusted partner to automotive manufacturers worldwide, providing innovative solutions to meet the evolving demands of the mobility industry. Its comprehensive product portfolio caters to a wide range of vehicle applications, from passenger cars and light trucks to heavy-duty commercial vehicles. For instance, the eS9000r Spicer Electrified e-Drive Axle and Spicer Electrified e-Drive Axle are electric drive axles for medium-duty trucks and buses. Dana operates a network of 88 manufacturing facilities, research centers, and engineering facilities strategically located to support its customers worldwide. This extensive presence allows Dana to effectively collaborate with OEMs and Tier I suppliers, providing localized support and timely delivery of traction motor solutions to meet the demands of regional markets. Ford Motor Company (US), PACCAR Inc. (US), Renault (France), and Tata Motor Limited (India), among others, are its customers.

Robert Bosch GmbH (Germany)

Robert Bosch GmbH, has developed a comprehensive range of traction motors that power electric vehicles with good efficiency, reliability, and performance. With a global footprint and a commitment to sustainable transportation, its traction motors play a pivotal role in accelerating the transition towards cleaner and more sustainable mobility solutions. In June 2023, Robert Bosch GmbH launched SiC MOSFETs for faster switching frequencies, improved efficiency, and smaller size and weight, ultimately benefiting the motor system.

Magna International Inc. (Germany)

Magna International Inc. is a renowned automotive supplier with a significant presence in the traction motor market for electric commercial vehicles. Its traction motor solutions are characterized by their advanced design, efficiency, and performance, catering to the evolving needs of electric mobility. As of January 2024, Magna has 343 manufacturing facilities, with more than 168,000 team members across 29 countries and a significant global presence with operations spanning North America, Europe, Asia Pacific, and other regions. In January 2024, Magna International introduces its next-generation 800V eDrive solution with new standards in efficiency, power-to-weight ratio, and torque density. The system delivers 250 kW of power and 5,000 Nm of axle torque, achieving up to 93% efficiency in real-world driving.

Allison Transmission, Inc. (US)

Allison Transmission Inc. is a manufacturer specializing in commercial-duty automatic transmissions and hybrid propulsion systems, constituting its primary line of business. With a global reach spanning North America, South America, Europe, Asia Pacific, and beyond, the company serves a diverse client of commercial vehicle operators, including those in on-highway and off-highway sectors as well as defense applications. Offering comprehensive vehicle propulsion solutions alongside support services and aftermarket parts, Allison Transmission remains committed to meeting the evolving needs of its customers worldwide. As of December 2022, the company boasts a workforce of approximately 3,500 employees.

Related Reports:

Electric Commercial Vehicle Traction Motor Market by Vehicle Type (Pickups, Medium and Heavy-Duty Trucks, Vans, Buses), Power Output, Motor Type, Transmission, Design, Axle Architecture (Integrated, Central Drive Unit), & Region - Global Forecast to 2030

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Electric Commercial Vehicle Traction Motor Market Size,  Share & Growth Report
Report Code
AT 9013
RI Published ON
Choose License Type

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status