Global Automotive Traction Motor Market Forecasted to Grow Steadily at 7.6% CAGR Between 2025 and 2029

 Use Code ONLINE20 to Save 20% On Global Market Reports — Gain Access to Trusted Market Data, Growth Indicators, and Industry Analytics

 

 What Is the Estimated Market Size and CAGR of the Automotive Traction Motor Market for the Period 2025–2029?
 The automotive traction motor market size has grown rapidly in recent years. It will grow from $7.45 billion in 2024 to $8.81 billion in 2025 at a compound annual growth rate (CAGR) of 18.3%. The growth in the historic period can be attributed to government regulations and incentives, increasing demand for fuel-efficient alternatives, growth in environmental awareness and preference for sustainable transportation, enhanced accessibility, and convenience of EV charging stations, and significant research and development and production investments by automotive manufacturers.
 
 The automotive traction motor market size is expected to see rapid growth in the next few years. It will grow to $17.02 billion in 2029 at a compound annual growth rate (CAGR) of 17.9%. The growth in the forecast period can be attributed to further tightening of global emission regulations, decreasing costs of batteries and other key electric vehicle components, continued improvements in battery capacity and efficiency, integration of advanced driver-assistance systems (ADAS) in electric vehicles, increased adoption of EVs in urban mobility solutions, growth in EV adoption in emerging markets. Major trends in the forecast period include development of more efficient and compact traction motors, improved battery performance and cost reduction, traction motors optimized for autonomous vehicle requirements, emphasis on eco-friendly production and recycling of motor components, development of faster and more efficient charging technologies.
 
 Get your free report sample today:
 https://www.thebusinessresearchcompany.com/sample.aspx?id=16614&type=smp
 
 Which Core Drivers Are Expected to Drive Demand Within the Automotive Traction Motor Market?
 The increasing demand for electric vehicles is expected to propel the growth of the automotive traction motor market going forward. Electric vehicles refer to automobiles powered by electric motors, using rechargeable batteries or other energy storage systems as their primary source of propulsion. The increasing demand for electric vehicles is fueled by environmental concerns, government incentives, advancements in battery technology, rising fuel costs, and improved charging infrastructure. Traction motors are essential for the operation of electric vehicles, converting electrical energy into mechanical motion with high efficiency, providing instant torque, enabling regenerative braking, and contributing to electric vehicles’ overall performance, reliability, and environmental benefits. For instance, in April 2023, according to the International Energy Agency, a France-based intergovernmental organization for energy policies, electric vehicle sales are expected to reach 32.2 million in 2025 and 72.3 million by 2030. Therefore, the increasing demand for electric vehicles will drive the automotive traction motor market.
 
 Which Key Segments Are Included in the Automotive Traction Motor Market Analysis?
 The automotive traction motormarket covered in this report is segmented — 
 
 1) By Motor Type: Alternating Current (AC) Induction Motors, Brushless Direct Current Motor, Permanent Magnet Synchronous Motor, Switched Reluctance Motor
 2) By Power Output: Less Than 200 Kw, 200–400 kW, Above 400 kW
 3) By Vehicle Type: Passenger Cars, Trucks, Buses, Pickup Trucks, Vans
 4) By Electric Vehicle (EV) Type: Battery Electric Vehicle, Fuel Cell Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle
 
 Subsegments:
 1) By Alternating Current (AC) Induction Motors: Squirrel Cage Induction Motors, Wound Rotor Induction Motors, High Efficiency Ac Induction Motors, High-Torque Ac Induction Motors For Evs, Low-Speed Ac Induction Motors For City Vehicles, Ac Induction Motors With Regenerative Braking Capabilities 
 2) By Brushless Direct Current (BLDC) Motors: Inner Rotor Bldc Motors, Outer Rotor Bldc Motors, High-Power Bldc Motors For Performance Evs, Low-Cost And Compact Bldc Motors For Urban Mobility, Bldc Motors With Integrated Controllers For Efficiency, Water-Cooled Bldc Motors For Heavy-Duty Applications 
 3) By Permanent Magnet Synchronous Motors (PMSM): Surface-Mounted Pmsm, Interior Permanent Magnet (IPM) Motors, High-Speed Pmsm For Sports And Performance Vehicles, Pmsm With Integrated Power Electronics, High-Torque Density Pmsm For Commercial Evs, Pmsm For Hybrid Electric Vehicles (HEVS) 
 4) By Switched Reluctance Motors (SRM): Radial Switched Reluctance Motors, Axial Switched Reluctance Motors, High-Torque Srms For Heavy-Duty Evs, Low-Cost And Simple Srms For Budget Ev Models, High-Speed Switched Reluctance Motors For High-Performance Evs, Srm With Advanced Control Systems For Efficiency
 
 Which Future-Ready Trends Are Expected to Influence the Automotive Traction Motor Market?
 Major companies operating in the automotive traction motor market are focused on developing innovative products, such as magnet-free electric motors, to improve performance and extend vehicle range. A magnet-free electric motor is a type of electric motor that operates without using permanent magnets, typically relying on alternative technologies like reluctance or induction for generating motion. For instance, in September 2023, ZF Friedrichshafen AG, a Germany-based automotive technology company, launched magnet-free electric motor I2SM (In-Rotor Inductive-Excited Synchronous Motor). The magnetic field inside the rotor is instead created by inductive excitation in this design, which achieves high torque and power density without the size and frictional limitations of traditional brush or slip-ring systems. In contrast to conventional SESM designs, the I2SM’s inductive transmitter, which is small and effective, is housed inside the rotor shaft, requiring up to 90 mm less axial space. This innovative motor not only enhances efficiency by reducing energy transmission losses by 15% but also significantly lowers the CO2 footprint during production by up to 50% compared to traditional permanent-magnet synchronous motors. 
 
 Who Are the Major Companies Operating in the Automotive Traction Motor Market?
 Major companies operating in the automotive traction motor market are Robert Bosch GmbH, Hitachi Ltd., Siemens AG, General Electric Co., ZF Friedrichshafen AG, Continental AG, Magna International Inc., Mitsubishi Electric Corporation, ABB Ltd, Toshiba Corporation, Alstom S.A., Schaeffler Technologies AG & Co. KG, Nidec Corporation, Mahle Group, BorgWarner Inc., Dana Incorporated, Regal Beloit Corporation, Shenzhen Inovance Technology Co. Ltd, Curtiss-Wright Controls Inc., Mitsuba Corporation, CG Power and Industrial Solutions Ltd., American Traction Systems, Jing-Jin Electric Technologies Co Ltd. 
 
 Get the detailed automotive traction motor market report today
 https://www.thebusinessresearchcompany.com/report/automotive-traction-motor-global-market-report
 
 Which Region Holds the Largest Share of the Automotive Traction Motor Market?
 Asia-Pacific was the largest region in the automotive traction motor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive traction motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
 
 Contact Us:
 
 The Business Research Company 
 
 https://thebusinessresearchcompany.com/ 
 
 Americas +1 310–496–7795
 Asia +44 7882 955267 & +91 8897263534
 Europe +44 7882 955267 
 
 Email: info@tbrc.info 
 
 
 Follow Us On:
 
 LinkedIn: https://in.linkedin.com/company/the-business-research-company