Allied Market Research

2024

Electric Bus Traction Motor Market

Electric Bus Traction Motor Market Size, Share, Competitive Landscape and Trend Analysis Report, by Power Rating and, by Type : Global Opportunity Analysis and Industry Forecast, 2023-2032

AT : Electric and Hybrid Vehicles

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Author's: | Lalit Janardhan Katare
Publish Date:

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Buses are the most common mode used in the transportation industry. Thereby, considerate amount of bus stations is introduced for the convenience of the passengers across different countries. Additionally, acceleration and deceleration of the bus after a stopover requires higher amount of power, thereby, the use of traction motor grows essential. Traction motor produces friction between two surfaces for extracting electricity from the battery pack and thereby providing rotation torque for the movement of the bus. Furthermore, government across the world are introducing laws for the public transport to shift from internal combustion engine (ICE) buses to electric buses. For instance, recently Indian government passed a law stating the shift from diesel public transport to electric buses over the year 2022. Therefore, rise in demand for electric public transport is expected to drive the market growth for global electric bus traction motor.

COVID-19 scenario analysis: 

  • As the governments all over the world have declared lockdowns over the past few months due to Corona virus, the need for rebalancing the risks and liquidate the assets is required in order to optimize the electric bus traction motor manufacturer’s flexibility. 
  • Public transport is the most common way which can spread coronavirus immensely due to which all types of public transportations including buses have been shut down and all operations were disrupted which in turn has caused a major decline in the electric bus traction motor market.
  • Majority of global electric bus traction motor manufacturers are facing major issues such as security risks and shutdown of all operations due to the government declared lockdown, which further affects the production of the electric buses as well.
  • As the governments all over the world have declared lockdown over the past few months which has disrupted both the demand and supply cycles of global electric bus traction motor manufacturers.

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 and increase in distance range for electric vehicles are creating favorable condition for the adoption of electric buses, which provide lucrative opportunity for the market growth.

The global electric bus traction motor market trends are as follows:

Increase in vehicle distance range for electric buses

Due to major developments in the electrification of public transportation segments, a tremendous increase in vehicle travelling distance range on a single charge is witnessed. For instance, Ebusco has developed an electric bus for German public transportation which can travel a distance up to 450 km in a single charge without a requirement for charging. Furthermore, developed countries such as Germany, U.K. and others are offering electric fast charging for the buses at the bus station for added convenience. Rapid expansion of electric bus charging infrastructure, battery technology enhancements, and rise in vehicle emission norms & the subsidies provided by the government drive the adoption of electric buses worldwide. Therefore, increase in vehicle distance range for the electric buses is expected to boost the growth of electric bus traction motor market.

Key benefits of the report:

  • This study presents the analytical depiction of the electric bus traction motor industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with challenges of the electric bus traction motor market.
  • The current market is quantitatively analyzed to highlight the electric bus traction motor market growth scenario.
  • We can also determine electric bus traction motor will remain a significant revenue shareholder in the global electric bus traction motor market through the predictable future.

Questions answered in the global electric bus traction motor market research report:

  • Which are the leading market players active in electric bus traction motor market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?

Electric Bus Traction Motor Market Report Highlights

Aspects Details
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By Power Rating
  • Below 200 Kilowatt (kw)
  • 200 – 400 Kilowatt (kw)
  • Above 400 Kilowatt (kw)
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By Type
  • Alternating Current (AC)
  • Direct Current (DC)
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa, Rest of LAMEA)
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Key Market Players

Toshiba Group, Zhongshan Broad-Ocean Motor Co. Ltd., Siemens AG, BorgWarner Inc., Valeo SA., ABB, Continental AG, Remy Group, Robert Bosch AG, ZF Group

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Electric Bus Traction Motor Market

Global Opportunity Analysis and Industry Forecast, 2023-2032