The sector will reach $27.47 billion by 2026 at a compound annual growth rate of 45.19%.

DublinAnd January 16, 2023 /PRNewswire/ — “Global Electric Vehicle Traction Motor Market Report 2022” has been added to ResearchAndMarkets.com an offer.

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The global electric vehicle market is expected to grow from 4.13 billion dollars In 2021 to $6.18 billion in 2022 at a compound annual growth rate (CAGR) of 49.54%. The electric vehicle traction motor market is expected to grow to $27.47 billion in 2026 at a compound annual growth rate (CAGR) of 45.19%.

Asia Pacific It was the largest area in the electric vehicle market in 2019. North Amarica It is expected to be the fastest growing region in the forecast period. The regions covered in this Electric Vehicle Traction Motor market report are: Asia PacificAnd Western EuropeAnd Eastern EuropeAnd North AmaricaAnd South americaAnd Middle east And Africa.

Increased sales of hybrid electric vehicles are expected to drive the growth of the electric vehicle traction motor market. A hybrid electric vehicle is a hybrid vehicle that combines an internal combustion engine with an electric propulsion system. The rapid growth in sales of hybrid electric vehicles is expected to boost the use of traction motors, as they are essential components in both hybrid and electric vehicles.

For example, in February 2022According to the US Electric Vehicle Marketplace, 59,664 hybrid vehicles were sold (an increase of 10.2% over February 2021), with 15,763 cars and 43,801 light trucks. In February, Toyota accounted for 63.7% of all hybrid vehicle sales. The Prius (Prius and Prius C combined) sold 3.9% of its hybrid vehicles. Therefore, the increasing sales of hybrid electric vehicles are expected to increase the demand for traction motors for electric vehicles during the forecast period.

Technological advancement is a major trend gaining popularity in the electric vehicle market. Many companies involved in electric vehicle traction drive are developing new products or new technologies to strengthen their position in the electric vehicle market.

For example, in August 2021Nidec has developed the E-axle, an EV traction drive system that includes three components: a motor, an inverter, and a reducer, and can be fitted to a vehicle, doing everything from generating torque from a drive shaft attached to the tires to moving the vehicle when powered by electricity. To achieve high throughput and wire winding performance, Nidec has implemented a new method of cassette insertion. Additionally, Nidec’s E-Axle has been given a new cooling mechanism.

in December 2019Nidec Corporation, a Japanese manufacturer and distributor of electric motors, has acquired Roboteq Inc. For an undisclosed amount. With this acquisition, Nidec plans to evolve into a single vendor capable of providing complete motor control system support to customers. Roboteq Inc. is a US based company that offers a wide range of electronic DC motor drives for mobile robots and electric vehicles.

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area
Covered markets:

1) By motor type: permanent magnet synchronous EV traction motors (PSM); Asynchronous electric traction motors (ASM)
2) By voltage ratings: high-voltage EV traction motors; EV Low Voltage Traction Motors
3) By vehicle type: electric vehicles; plug-in hybrid electric vehicles; Mild Hybrid Vehicles Full Hybrid Vehicles
4) By application: rail. electric vehicle other apps

Main topics covered:

1. Executive summary

2. Characteristics of the electric traction vehicle market

3. Electric vehicle market trends and strategies

4. The impact of COVID-19 on the electric vehicle traction motor

5. Market size and growth of Electric Vehicle Traction Vehicles

6. Segmentation of the electric vehicle market

7. Country and regional analysis of the electric vehicle market

8. Asia-Pacific Electric Vehicle Traction Motor Market

9. China’s electric vehicle market

10. Electric vehicle market in India

11. Japan’s electric vehicle market

12. Australia electric traction vehicle market

13. Indonesia electric traction vehicle market

14. South Korea electric vehicle traction drive market

15. Western European market for electric traction vehicles

16. UK electric vehicle market

17. Germany market for electric traction vehicles

18. France market for electric traction vehicles

19. Eastern Europe Electric Vehicle Traction Motor Market

20. Russia electric vehicle traction drive market

21. North America Electric Vehicle Traction Motor Market

22. United States of America electric vehicle traction market

23. South America Electric Vehicle Traction Motor Market

24. Brazil electric vehicle traction drive market

25. Middle East electric traction vehicle market

26. Africa Electric Traction Vehicle Market

27. Electric Vehicle Traction Motor Market Competitive Landscape and Company Profiles

28. Major Mergers and Acquisitions in the Traction Electric Vehicle Market

29. Electric Vehicle Traction Vehicle Market Outlook and Potential Analysis

30. Appendix

mentioned companies

For more information on this report, visit https://www.researchandmarkets.com/r/l97tlm

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