Report Code: A07206 | Nov 2023 | Pages: NA | ||
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Traction motor produces resistance between two surfaces with or without using electricity. An electric passenger car traction motor is a vital component which is used for extracting electricity from the battery pack. Traction motor is installed in electric passenger vehicles to provide rotation torque for the movement of the car. Furthermore, stringent emission discharge norms and regulations drives the demand for electric passenger car. Moreover, quick expansion of EV charging structure, decline in EV prices due to government provided subsidies & reduced price of battery, accessibility to ultra-fast chargers, and anticipated restrictions over fuel-powered vehicles further fuel the demand for EVs. Therefore, rise in demand for electric vehicle is expected to drive the market growth for global electric passenger car traction motor.
COVID-19 scenario analysis:
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Rise in adoption of electric 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. On the contrary, designing better speed estimator creates favorable condition for the adoption of electric vehicles, which provides lucrative opportunity for the market growth.
The global electric passenger car traction motor market trends are as follows:
Rise in adoption of electric vehicles
Adoption of electric passenger car is growing rapidly worldwide. For instance, according to international energy agency (IEA), in 2018, 5.1 million electric cars were operating globally. Furthermore, electric vehicles emit no greenhouse gases and no air pollutants when compared with a petrol or diesel vehicle. Rapid expansion of electric vehicle charging infrastructure, battery technology enhancements, and rise in vehicle emission norms & the subsidies provided by the government drive the adoption of electric vehicles worldwide. Therefore, rise in adoption of electric vehicles is expected to boost the growth of electric passenger car traction motor market.
Overheating of electric passenger vehicle traction motor
Due to the friction generated by the traction motor, a huge amount of electrical overload is caused to the mechanical equipment. Furthermore, excessive heat causes rapid deterioration and failure of the traction motor. For instance, Robert Bosch have qualified almost 60% of passenger vehicle motor and failure are caused by overheating. Therefore, rise in overheating of electric passenger vehicle traction motor is anticipated to hamper the market growth for electric passenger car traction motor market in the near future.       Â
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Questions answered in the global electric passenger car traction motor market research report:
Electric Passenger Car 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 | BorgWarner Inc., Valeo SA., Siemens AG, Remy Group, ABB, Robert Bosch AG, Zhongshan Broad-Ocean Motor Co. Ltd., ZF Group, Toshiba Group, Continental AG |
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