The Market Reports

Synopsis

The global market for EV Traction Motor was estimated to be worth US$ 24285 million in 2024 and is forecast to a readjusted size of US$ 86395 million by 2031 with a CAGR of 19.0% during the forecast period 2025-2031.

This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on EV Traction Motor cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.

EV Traction Motor refers to an electric motor specifically designed to drive the wheels of an electric vehicle (EV), converting electrical energy from the battery into mechanical energy to provide propulsion. These motors are engineered for high torque, efficiency, and responsiveness across a wide speed range, and are a core component in battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell electric vehicles (FCEVs).
The EV traction motor market shows immense potential across China, the USA, the EU, Japan, and other regions, driven by rapid electric vehicle adoption, government decarbonization mandates, and technological advancements; in China, the world’s largest EV market, strong domestic demand, aggressive government incentives, and vertically integrated supply chains are propelling both volume growth and innovation in traction motor design, particularly with permanent magnet synchronous motors (PMSM) and integrated motor-drive systems; in the United States, the market is expanding due to rising EV production by traditional automakers and startups alike, supported by the Inflation Reduction Act and increasing investment in localized motor manufacturing and critical material supply chains; in the European Union, strict carbon emission targets, a fast-growing EV consumer base, and premium automakers transitioning to electric drivetrains are stimulating strong demand for high-efficiency, compact, and cost-effective traction motors, especially in Germany and France, where regional players are pushing innovations in axial flux and hairpin-winding motor technologies; in Japan, although EV uptake has lagged behind China and Europe, the traction motor market is growing steadily thanks to hybrid system dominance, R&D leadership in precision motor control, and recent policy shifts to accelerate BEV development by companies like Toyota and Nissan; beyond these core markets, emerging economies in Southeast Asia and Latin America also present rising opportunities, as local EV assembly expands and infrastructure improves, while globally, the traction motor market is increasingly shaped by the push for rare-earth-free alternatives, next-generation cooling technologies, modular motor architectures, and tighter integration with inverters and gearboxes, all of which are crucial to improving power density, reducing cost, and meeting diverse vehicle platform requirements in an electrified global automotive landscape.

This report aims to provide a comprehensive presentation of the global market for EV Traction Motor, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of EV Traction Motor by region & country, by Type, and by Application.

The EV Traction Motor market size, estimations, and forecasts are provided in terms of sales volume (K Units) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding EV Traction Motor.

Market Segmentation

By Company

• BMW
• Fukuta Motor
• Broad-Ocean
• BYD
• Nissan
• Continental AG
• Jing-Jin Electric Technologies
• ZF
• Groupe Renault
• Toyota
• Meidensha
• BOSCH
• UAES
• LG
• Dajun Tech
• SIEMENS
• Greatland Electrics
• Hitachi Automotive Systems
• Magna
• Huayu Automotive Electric Systems co., Ltd.
• Zhejiang Founder Motor Co., Ltd
• Huawei

Segment by Type

• AC Induction Motor
• Permanent Magnet Motor

Segment by Application

• BEV
• PHEV

Segment by Region

• North America: United States, Canada, and Mexico
• Europe: United Kingdom, Germany, France, Spain, Italy, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, and Rest of Asia Pacific
• Middle East & Africa: Saudi Arabia, South Africa, and Rest of MEA
• Latin America: Brazil, Argentina, and Rest of Latin America

*If you need a regional or country-specific version, or customized segmentation, we can tailor the report to your requirements.