Electric Commercial Vehicle Traction Motor Market Size Worth $15,032.13 Million by 2032 | CAGR: 28.4%

The global electric commercial vehicle traction motor market size is expected to reach USD 15,032.13 million by 2032, according to a new study by Polaris Market Research. The report “Electric Commercial Vehicle Traction Motor Market Size, Share, Trends, Industry Analysis Report: By Vehicle Type (Pickup Trucks, Trucks, Buses & Coaches, and Vans), Power Output, Motor Type, Design, Transmission, Axle Architecture, and Region – Market Forecast, 2023–2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The electric commercial vehicle traction motor market growth is driven by the growing emphasis on environmental sustainability and strict emission regulations. Electric commercial vehicles (EVs) play a crucial role in reducing the overall carbon footprint for businesses as they do not produce any tailpipe emissions. This supports global sustainability objectives and corporate responsibility efforts, leading to increased demand for electric commercial vehicles and their traction motors, which are essential EV components.

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The global electric commercial vehicle traction motor market is expected to be driven by the growing government investments in EV infrastructure. Public and private charging station networks are typically expanded using government funding. An extensive and easily accessible charging infrastructure helps alleviate range anxiety and enhances the practicality of using electric commercial vehicles, leading to increased demand for electric traction motors.

Electric Commercial Vehicle Traction Motor Market Report Highlights

• In terms of vehicle type, the buses & coaches segment is anticipated to witness the highest growth during 2024–2032 due to rising urbanization and increasing public transportation needs. Additionally, the implementation of dedicated bus lanes and charging infrastructure in urban areas boost the segment growth.
• Based on power output, the 100–200 kW segment accounted for the largest market share in 2023, owing to its suitability for a broad range of applications, including light to medium-duty trucks, delivery vans, and urban buses. Additionally, advancements in battery technology support the widespread adoption of 100–200 kW electric commercial vehicles.
• Asia Pacific accounted for a major market share in 2023 due to rapid industrialization, significant government incentives, and a large manufacturing base within the region. Additionally, the presence of major automotive manufacturers in the region, coupled with the region's growing focus on reducing urban pollution, has significantly contributed to the market’s expansion
• The market in Europe is expected to register a significant CAGR during the forecast period owing to the stringent emissions norms and rising emphasis on sustainability and innovation
• AB Volvo; Allison Transmission, Inc.; BYD; Dana Limited; Mercedes-Benz Group AG; GEM Motors; BorgWarner Inc.; Magna International Inc.; Robert Bosch GmbH; Traton SE; Flash; Hyundai Motor Company; Tata Motors; ZF Friedrichshafen AG; Suzhou Inovance Automotive Co., Ltd; Uno Minda Limited; and Zhengzhou Yutong Bus Co., Ltd. are among the global market players.

Polaris Market Research has segmented the electric commercial vehicle traction motor market report on the basis of vehicle type, power output, motor type, design, transmission, axle architecture, and region:

By Vehicle Type Outlook (Revenue – USD Million, 2019–2032)

• Pickup Trucks
• Trucks (Medium-duty Trucks and Heavy-duty Trucks)
• Vans (Light Vans and Full-size Vans)
• Buses & Coaches

By Power Output Outlook (Revenue – USD Million, 2019–2032)

• Less than 100 kW
• 100–200 kW
• 200–400 kW
• Above 400 kW

By Motor Type Outlook (Revenue – USD Million, 2019–2032)

• Permanent Magnet Synchronous Motor (PMSM)
• AC Induction Motor
• DC Traction Motor

      By Design Outlook (Revenue – USD Million, 2019–2032)

• Radial Flux
• Axial Flux

     By Transmission Outlook (Revenue – USD Million, 2019–2032)

• Single Speed Drive
• Multi-Speed Drive

    By Axle Architecture Outlook (Revenue – USD Million, 2019–2032)

• Integrated Axle
• Central Drive Unit

   By Regional Outlook (Revenue – USD Million, 2019–2032)

• North America
  • • US
    • Canada
• Europe
  • • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
• Asia Pacific
  • • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
• Latin America
  • • Argentina
    • Brazil
    • Mexico
• Middle East & Africa
  • • UAE
    • Saudi Arabia
    • Israel
    • South Africa

Electric Commercial Vehicle Traction Motor Market Report Scope