Report Code: A07970 | Pages: NA | Mar 2023 | 2663 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Electric Heavy Commercial Vehicle Traction Motor Market
Request Now !Traction motor of an electric heavy commercial vehicle refers to a mechanism which is designed to produce friction between two surfaces for extracting electricity from the battery pack of the heavy commercial vehicle, thereby providing rotation power to the wheels of the vehicle. The traction motor is significantly effective when compared to the non-electric motors and offers various benefits such as quick start & stop and no carbon emission. Furthermore, various stringent emission discharge norms & regulations such as supplemental emission test (SET), not-to-exceed testing and others are driving the demand for electric heavy commercial vehicle (EHCV). Moreover, quick expansion of EHCV charging structure, accessibility to ultra-fast chargers, and decline in EHCV prices due to government provided subsidies & reduced price of battery and anticipated restrictions over fuel-powered vehicles further fuel the demand for EVs. Therefore, rising demand for electric heavy commercial vehicle and stringent pollution regulations are expected to drive the market growth for global electric heavy commercial vehicle traction motor.
COVID-19 scenario analysis:Â
Rising adoption of electric heavy commercial vehicles, increase in demand for effective power renovation, and non-stable prices of crude oil drive the growth of the global market. However, overheating of EV traction motors and fluctuating prices of input components are expected to hamper the growth of the market. Contrarily, designing better speed estimator creates favourable condition for the adoption of electric vehicles, which provides lucrative opportunity for the market growth.
The global electric heavy commercial vehicle traction motor market trends are as follows:
The adoption of electric heavy commercial vehicles is growing rapidly worldwide due to the increase in carbon emissions discharge from the internal combustion engine (ICE) commercial vehicles. Heavy commercial vehicles are used to transport industrial equipment such as steel, wood and others from one place to another. Since, the long range of travelling produces a higher amount of carbon discharge from the vehicles which allows the industries to encourage the usage of the electric commercial vehicles for the transportation. For instance, according to international energy agency (IEA), in 2018, 1 million electric heavy commercial vehicles were operating globally. Rapid expansion of battery technology enhancements and rise in vehicle emission norms & the subsidies provided by the government is driving the adoption of electric heavy commercial vehicles worldwide. Therefore, rise in adoption of electric heavy commercial vehicle, will foster the growth of electric heavy commercial vehicle traction motor market.
Key benefits of the report:
Questions answered in the global electric heavy commercial vehicle traction motor market research report:
Electric Heavy Commercial Vehicle Traction Motor Market Report Highlights
Aspects | Details |
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By Power Rating |
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By Type |
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By Region |
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Key Market Players | ABB, Zhongshan Broad-Ocean Motor Co. Ltd., BorgWarner Inc., Robert Bosch AG, Siemens AG, Toshiba Group, ZF Group, Continental AG, Remy Group, Valeo SA |
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