Dublin--(BUSINESS WIRE)--"According to motor type (PMSM, DC brushless, AC induction), type (AC, DC), EV type (BEV, HEV, PHEV), power output (less than 200 kilowatts or more, 200-400 kW, 400 kW and above), vehicle type (PC, CV) and region-Forecast to 2026" report has been added to ResearchAndMarkets.com products.
The global automotive traction motor market is expected to grow at a compound annual growth rate of 33.7%, from US$4.1 billion in 2021 to US$17.3 billion in 2026. Factors such as supporting government policies to launch new EV models and advanced motor design will drive the automotive traction motor market.
With the continuous development of design, function, engineering and electric motor technology, the electric vehicle industry is developing rapidly. As the government's requirements for vehicle emissions become more and more stringent, the automotive industry is focusing on efficiency, emission-free advancement and innovative technologies. Due to government authorization and the global presence of major original equipment manufacturers and Tier 1 suppliers, the high expected growth of electric vehicles is expected to drive market development.
The commercial vehicle segment is expected to be the fastest segment in the forecast
Due to the need for high starting torque and overload capacity, commercial vehicles require higher-power traction motors than passenger vehicles. The increasing demand for commercial vehicles and the consequent increase in sales, the implementation of strict emission regulations and fuel efficiency improvement regulations and safety regulations by governments of various countries have jointly shifted the focus of original equipment manufacturers to reducing the carbon emissions of commercial vehicles . Government parameters related to carbon emission regulations vary by vehicle type and region.
North America is expected to become the largest automotive traction motor market for commercial vehicles. This can be attributed to the increasing popularity of pickup trucks among original equipment manufacturers such as Ford, Chrysler and General Motors. Traction motor manufacturers in the region are also increasing investment in this area to add more fuel-efficient features. For example, in October 2019, Eaton PLC announced plans to launch a heavy-duty electric commercial vehicle drive system. The transmission will be 4-speed and based on the efficient countershaft architecture of an automatic manual transmission (AMT) designed specifically for commercial electric vehicles. All these factors are expected to drive demand for traction motors in North America.
It is estimated that 200-400 kW will be the fastest power output section during the forecast period
Traction motors with a power output of 200-400 kW are especially installed in medium to heavy commercial vehicles. These motors have high starting torque and overload capacity. Since these motors are widely used in commercial vehicles such as trucks, vans, and buses, their demand is expected to increase in several countries in the Middle East, North America, and the Asia-Pacific region, which have invested heavily in electric vehicle projects. The wide application of these traction motors is one of the main factors driving this market segment. Skoda and Toshiba are some manufacturers of traction motors with a power output of 200-400 kW.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call +353-1-416- 8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call +353-1-416- 8900