Global Electric Vehicle Traction Motor Market Size By Vehicle Type, By Geographic Scope And Forecast
Electric Vehicle Traction Motor Market Size And Forecast
Electric Vehicle Traction Motor Market was valued at USD 2.63 Billion in 2019 and is projected to reach USD 40.16 Billion by 2027, growing at a CAGR of 40.7 % from 2020 to 2027.
Global Electric Vehicle Traction Motor Market Outlook
Rising investments in Electric Vehicle (EVs) adjacent to increasing demand for energy-efficient motors are some of the significant growth drivers. EV traction motor has low power consumption and high efficiency owing to which it is beholding an enhanced demand for EVs. Moreover, stringent environmental regulation and emission norms to safeguard environmental sustainability are encouraging the demand for EVs, thereby creating favorable grounds for market growth.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The Global Electric Vehicle Traction Motor Market is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Electric Vehicle Traction Motor Market Competitive Landscape
The Global Electric Vehicle Traction Motor Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as ABB Limited, Parker-Hannifin Corp., SKF AB., ZF TRW Automotive Holdings Corporation, Robert Bosch GMBH, Valeo SA, Zytek Group Limited., Hitachi, Ltd., Avid Technology Limited, YASA Motors Ltd., and Others.
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