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Electric Vehicle Traction Motors Market Size & Share, by Type (Permanent Magnet Synchronous Motors [PMSM], Induction Motors, Brushless DC Motors, Switched Reluctance Motors, Others); Voltage (Below 100V, 100–200V, 200–400V, 400–800V, Above 800V); Vehicle Type (Battery Electric Vehicles, Plug-In Hybrid Electric Vehicles, Fuel Cell Electric Vehicles, Others) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2025-2036

  • Report ID: 7981
  • Published Date: Aug 01, 2025
  • Report Format: PDF, PPT

Global EV Traction Motors Market

  1. An Outline of the Global Electric Vehicle (EV) Traction Motors Market  
    1. Market Definition and Segmentation
    2. Study Assumptions and Abbreviations
  2. Research Methodology & Approach
    1. Primary Research 
    2. Secondary Research 
    3. Data Triangulation
    4. SPSS Methodology
  3. Executive Summary
  4. Market Overview
  5. Growth Drivers
  6. Major Roadblocks
  7. Opportunities
  8. Prevalent Trends
  9. Government Regulations
  10. Technological Advancements
  11. Patent Analysis
  12. Growth Outlook
  13. Risk Analysis
  14. Price Benchmarking
  15. Regional Demand
  16. Projected BEV Traction Motors by Voltage Range (2024–2036)
  17. Global Market Share of Automakers (2024)
  18. Detailed Overview of EV Traction Motor Technologies
  19. Electric Vehicle Types: Adoption, Performance, and Market Outlook 
  20. Growth Forecast for Electric Vehicle (EV) Traction Motors products by Vehicle Type
  21. Root Cause Analysis (RCA) for Discovering Problems in the Industry
  22. Porter Fiver Forces
  23. PESTLE
  24. Comparative Positioning
  25. Competitor SWOT Analysis
  26. Strategic Developments by Competitors in the Industry
  27. Competitive Model
    1. Company Market Share  
    2. Business Profile of Key Enterprise
      1. ABB Ltd.
      2. Hitachi Astemo Americas, Inc.
      3. MAHLE GmbH
      4. Medha Traction Equipment Pvt. Ltd.
      5. NIDEC CORPORATION
      6. PARKER-HANNIFIN CORPORATION
      7. Robert Bosch GmbH 
      8. SDT Drive Technology 
      9. WEG
      10. YASA Limited
  28. Global Electric Vehicle (EV) Traction Motors Market Outlook
    1. Market Overview
      1. Market Revenue by Value (USD Million), Volume (Thousand Tons), and Compound Annual Growth Rate (CAGR) 
    2. Electric Vehicle (EV) Traction Motors Market Segmentation Analysis (2024-2036)
      1. By Motor Type
        1. Permanent Magnet Synchronous Motors (PMSM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. Induction Motors (IM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. Brushless DC Motors (BLDC), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        4. Switched Reluctance Motors (SRM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        5. Others, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      2. By Voltage
        1. Below 100V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. 100-200V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. 200-400V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        4. 400-800V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        5. Above 800V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      3. By Vehicle Type
        1. Battery Electric Vehicles, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. Plug-In Hybrid Electric Vehicles, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. Others, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      4. Regional Synopsis, Value (USD Million), 2024-2036
        1. North America Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        2. Europe Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        3. Asia Pacific Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        4. Latin America Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        5. Middle East and Africa Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
  29. North America Market
    1. Overview
      1. Market Value (USD Million), Current and Future Projections, 2024-2036  
      2. Increment $ Opportunity Assessment, 2024-2036 
    2. Segmentation (USD million), 2024-2036, By
      1. By Motor Type
        1. Permanent Magnet Synchronous Motors (PMSM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. Induction Motors (IM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. Brushless DC Motors (BLDC), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        4. Switched Reluctance Motors (SRM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        5. Others, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      2. By Voltage
        1. Below 100V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. 100-200V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. 200-400V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        4. 400-800V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        5. Above 800V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      3. By Vehicle Type
        1. Battery Electric Vehicles, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. Plug-In Hybrid Electric Vehicles, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. Others, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      4. Country Level Analysis, Value (USD Million)
        1. U.S. Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        2. Canada Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
  30. Europe Market
    1. Overview
      1. Market Value (USD Million), Current and Future Projections, 2024-2036  
      2. Increment $ Opportunity Assessment, 2024-2036 
    2. Segmentation (USD million), 2024-2036, By
      1. By Motor Type
        1. Permanent Magnet Synchronous Motors (PMSM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. Induction Motors (IM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. Brushless DC Motors (BLDC), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        4. Switched Reluctance Motors (SRM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        5. Others, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      2. By Voltage
        1. Below 100V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. 100-200V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. 200-400V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        4. 400-800V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        5. Above 800V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      3. By Vehicle Type
        1. Battery Electric Vehicles, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. Plug-In Hybrid Electric Vehicles, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. Others, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        4.  
      4. Country Level Analysis, Value (USD Million)
        1. UK Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        2. Germany Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        3. France Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        4. Italy Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        5. Spain Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        6. Netherlands Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        7. Russia Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        8. Switzerland Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        9. Poland Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        10. Belgium Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        11. Rest of Europe Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
  31. Asia Pacific Market
    1. Overview
      1. Market Value (USD Million), Current and Future Projections, 2024-2036  
      2. Increment $ Opportunity Assessment, 2024-2036 
    2. Segmentation (USD million), 2024-2036, By
      1. By Motor Type
        1. Permanent Magnet Synchronous Motors (PMSM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. Induction Motors (IM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. Brushless DC Motors (BLDC), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        4. Switched Reluctance Motors (SRM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        5. Others, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      2. By Voltage
        1. Below 100V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. 100-200V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. 200-400V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        4. 400-800V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        5. Above 800V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      3. By Vehicle Type
        1. Battery Electric Vehicles, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. Plug-In Hybrid Electric Vehicles, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. Others, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      4. Country Level Analysis, Value (USD Million)
        1. China Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        2. India Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        3. South Korea Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        4. Australia Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        5. Indonesia Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        6. Malaysia Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        7. Vietnam Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        8. Thailand Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        9. Singapore Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        10. New Zeeland Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        11. Rest of Asia Pacific Excluding Japan Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
  32. Latin America Market
    1. Overview
      1. Market Value (USD Million), Current and Future Projections, 2024-2036  
      2. Increment $ Opportunity Assessment, 2024-2036
      3. Year-on-Year Growth Forecast (%)
    2. Segmentation (USD million), 2024-2036, By
      1. By Motor Type
        1. Permanent Magnet Synchronous Motors (PMSM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. Induction Motors (IM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. Brushless DC Motors (BLDC), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        4. Switched Reluctance Motors (SRM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        5. Others, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      2. By Voltage
        1. Below 100V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. 100-200V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. 200-400V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        4. 400-800V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        5. Above 800V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      3. By Vehicle Type
        1. Battery Electric Vehicles, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. Plug-In Hybrid Electric Vehicles, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. Others, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      4. Country Level Analysis, Value (USD Million)
        1. Brazil Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        2. Argentina Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        3. Mexico Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        4. Rest of Latin America Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
  33. Middle East & Africa Market
    1. Overview
      1. Market Value (USD Million), Current and Future Projections, 2024-2036  
      2. Increment $ Opportunity Assessment, 2024-2036
      3. Year-on-Year Growth Forecast (%)
    2. Segmentation (USD million), 2024-2036, By
      1. By Motor Type
        1. Permanent Magnet Synchronous Motors (PMSM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. Induction Motors (IM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. Brushless DC Motors (BLDC), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        4. Switched Reluctance Motors (SRM), Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        5. Others, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      2. By Voltage
        1. Below 100V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. 100-200V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. 200-400V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        4. 400-800V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        5. Above 800V, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      3. By Vehicle Type
        1. Battery Electric Vehicles, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        2. Plug-In Hybrid Electric Vehicles, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
        3. Others, Market Value (USD Million), Volume (Units), and CAGR, 2024-2036F
      4. Country Level Analysis, Value (USD Million)
        1. Saudi Arabia Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        2. UAE Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        3. Israel Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        4. Qatar Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        5. Kuwait Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        6. Oman Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        7. South Africa Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
        8. Rest of Middle East & Africa Market Value (USD Million) and CAGR & Y-o-Y Growth Trend, 2024-2036F 
  34. Global Economic Scenario
    1.  World Economic Outlook
  35. About Research Nester
    1. Our Global Clientele
    2. We Serve Clients Across World

Electric Vehicle Traction Motors Market Outlook:

Electric Vehicle Traction Motors Market size was valued at USD 10.7 billion in 2024 and is projected to reach a valuation of USD 75.9 billion by the end of 2036, rising at a CAGR of 17.7% during the forecast period, i.e., 2025-2036. In 2025, the industry size of electric vehicle (EV) traction motors is assessed at USD 12.6 billion.

The electric vehicle (EV) traction motors market is accelerating with advances in technology, cross-industry convergence, and heightened international focus on decarbonization. In April 2024, ABB secured a USD 150 million contract with Hyundai Rotem for the supply of advanced traction systems for 65 electric trains operating in Queensland, Australia, thereby enhancing regional sustainable efforts and setting new standards for efficiency. The automotive sector is also rising, with companies introducing electric light commercial vehicles and establishing themselves in a fast-changing mobility market. Producers are competing to meet the demand for increased performance, longevity, and local manufacturing, as governments enforce strict EV take-up mandates and invest in robust supply chains.   

The U.S. Producer Price Index (PPI) of fractional horsepower motors, a stand-in for the input cost of traction motors, was 215.07 in January 2025, falling by -0.15% from the previous year. U.S. Consumer Price Index (CPI) for parts and accessories for motor vehicles was 184.40 (1982-84=100), up by 0.70% from the last year. The production cost of a 100 kW motor and inverter system in 2022 was $1,141, with the motor itself costing $755. Assembly line innovation has centered on vertical integration, as a number of U.S. and foreign automakers moved toward modular and scalable configurations to contain savings and risk of supply. Government-sponsored R&D focused on power density increases, reliability, and cost compression—objectives include 50% cost savings through alternative materials and design breakthroughs, while industry and government laboratories strive to reduce dependence on rare earths and optimize thermal management. These initiatives are critical to scaling to meet ambitious volume targets by major economies and mitigating recognized bottlenecks in extraction and component handling.

Electric Vehicle Traction Motors Market Size
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Growth Drivers

  • Aggressive investments in EV platforms by automobile manufacturers: One of the major drivers of the electric vehicle traction motors market is aggressive investment by automakers to launch affordable, versatile EV platforms. In June 2025, Ford declared a $3 billion investment in equipment for battery plants and $700 million in tax credits to launch a global battery EV platform by 2027 as part of an effort to cut lower inverter, chassis, and traction motor costs. The initiative is planned to compete with Chinese giants and promote affordable EV growth aggressively across global markets. In addition, stricter emissions regulations and government subsidies by manufacturers in response are likely to fuel further demand for high-efficiency traction motors.
  • Expansion of electrified commercial vehicles and buses: Another catalyst is the global expansion of electrified commercial vehicles and buses, particularly in regions with stringent clean mobility regulations. For example, ZF's introduction of its AxTrax 2 electric axle drives into a multi-year contract from India's leading automaker in June of 2025 marks ZF's entry into the Asian e-bus market, helping India achieve its mass-scale zero-emissions transport ambitions. These advancements are compelling original equipment manufacturers and suppliers in Europe, Asia, and North America to consider energy-efficient, scalable, and integrated traction motor technologies for public fleets and mass-market EVs.

 Technological Disruptions and EV Traction Motors Market Impact

Technology Trend

Industry Example

Adoption Pattern/Stat/Result

Company/Case Study

Year

SiC Inverter Adoption

Commercial & Passenger Vehicles

11x MOSFET demand growth by 2035

Hyundai E-GMP, Tesla

2024

Advanced Permanent Magnets

Passenger Vehicles

79% of drivetrains with NdFeB

Tesla, Toyota, BYD

2023

Magnet-Free Synchronous Motors

Passenger Vehicles

Renault shifts Zoe BEVs to WRSM

Renault

2024

Integrated E-Axle Systems

Electric Buses

200–400 kW segment fastest-growing

Nidec, Yutong

2024

Direct Liquid Cooling

Passenger Vehicles

8 kW/kg achieved in prototypes

Industry R&D (global)

2025

Building Supply Chain Resilience in the EV Traction Motors Market 

Strategy

Company/Example

Technology/Approach

Measured Outcome

Year

Predictive Analytics & AI

Tesla

AI-driven risk assessment for lithium/cobalt

16% lead time reduction

2024

Real-Time Control Towers

BMW

AI + real-time analytics

17% faster disruption response

2024

Blockchain for Traceability

Tesla, Toyota

Blockchain for raw material provenance

99% compliance in supplier audits

2024

Supplier Diversification

Leading Asian OEMs

Multi-region sourcing for copper windings

21% fewer shortages in disruptions

2024

Local Supplier Adoption

JLR, India-based OEMs

Preference for local motor housing suppliers

9% logistics cost, 11% CO₂ reduction

2024

Challenges

  • Regulatory emphasis on EV localization and traceability of parts: A significant barrier to market growth is the increasing regulatory emphasis on the complete localization and traceability of EV parts. India's Ministry of Heavy Industries, in May 2025, mandated that all key EV systems, traction motors, controllers, and batteries be sourced and made locally, even for electric two- and three-wheelers and buses. This policy requires both domestic and international manufacturers to retool supply chains and invest heavily in local production, all the while overcoming new compliance hurdles. As more countries join the trend, the transition could come to a screeching halt or be fragmented market growth unless supply chains are quickly able to keep up. 
  • Evolving safety and performance specifications: Another challenge lies in the rapid evolution of safety and performance specifications, particularly for high-voltage drive systems in developing countries. These regulation updates require costly R&D for advanced fault protection, onboard diagnostics, and failsafe design. Speed-to-market must be weighed against robust compliance by manufacturers, which raises both technology and operational risks as the EV rollout increases. 

Electric Vehicle Traction Motors Market Size and Forecast:

Report Attribute Details

Base Year

2024

Forecast Year

2025-2036

CAGR

17.7%

Base Year Market Size (2024)

USD 10.7 billion

Forecast Year Market Size (2036)

USD 75.9 billion

Regional Scope

  • North America (U.S. and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Electric Vehicle Traction Motors Market Segmentation:

Type Segment Analysis

The permanent magnet synchronous motors (PMSM) segment is anticipated to hold a 73.9% electric vehicle traction motors market share during the forecast period, owing to their dominance in high-efficiency and high-torque applications. In September 2024, BYD launched the 1000V e-Platform 3.0 Evo, with upgraded PMSMs and SiC inverters for super-fast charging and extended EV range. PMSMs are used as they have high power density, precise speed control, and increased efficiency in passenger and commercial EVs. Ongoing investment in SiC power electronics and rare-earth-free alternatives is expected to solidify PMSM's leadership in future-generation designs. As manufacturers focus on energy efficiency and reliability, PMSMs will remain the motor of choice, with technology aimed at maximizing output while minimizing the use of rare earths and reducing cost unpredictability. 

Voltage Segment Analysis

The 200–400V segment is projected to achieve a 53.3% electric vehicle traction motors market share in 2036 on the strength of its popularity with mainstream passenger and light commercial EVs that require a trade-off between energy efficiency and cost. All major EV platforms worldwide are dependent on this voltage segment for facilitating best-in-class trade-offs among system complexity, battery size, and fast-charging capability. In August 2024, GM patented a state-of-the-art traction motor-based wheel speed recovery and control system natively integrated with 200–400V architectures that boosts regenerative braking and performance in a wide range of vehicles. Ongoing innovation in inverter design and energy management technology for such systems will continue to drive their dominance, empowering scalable electrification across both developed and emerging EV markets.

Our in-depth analysis of the EV traction motors market includes the following segments:

Segment

Subsegments

Type
  • Permanent Magnet Synchronous Motors (PMSM) 
  • Induction Motors 
  • Brushless DC Motors 
  • Switched Reluctance Motors 
  • Others   

Voltage
  • Below 100V  
  • 100-200V  
  • 200-400V  
  • 400-800V  
  • Above 800V 

Vehicle Type
  • Battery Electric Vehicles  
  • Plug-In Hybrid Electric Vehicles  
  • Fuel Cell Electric Vehicles  
  • Others  
Vishnu Nair
Vishnu Nair
Head - Global Business Development

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Electric Vehicle Traction Motors Market - Regional Analysis

APAC Market Insights

Asia Pacific electric vehicle (EV) traction motors market is anticipated to garner a 52% share during the forecast period, driven by mass-scale electrification, active vehicle adoption, and extensive regional investment. Mahindra embarked on the domestic roll-out of Gen5 rare-earth-free traction motors for new electric SUVs in June 2025, propelling localized, low-cost-led innovation that benefits both Indian and export markets. Asia is also seeing an increase in the adoption of magnet-free and modular designs, as domestic legislation encourages the use of indigenous components for delivery fleets and buses. The APAC market, with robust supply chains and manufacturing networks, is set to witness long-term and durable growth.

China EV traction motors market is expanding fast, backed by mass-manufacturing scale, rising exports, and high-volume e-mobility support from the state. CRRC sped up in May 2025 production of critical electric motor components serving commercial and mass-market EV demand, further establishing China's supply chain dominance in the region. BYD's September 2024 launch of the 1000V e-Platform 3.0 Evo, with even better PMSM and SiC inverter integration, marks China's long-range, high-performance platform leadership. China's focus on zero-emission vehicle production establishes a global standard of innovation.

India electric vehicle traction motors market is expanding swiftly, with bold policy reforms and rising domestic production. Ashok Leyland partnered with Nidec in February 2025 to co-develop next-gen e-drive motors that are suitably designed for Indian driving conditions, propelling e-mobility in commercial vehicles and buses. The launch of indigenous, magnet-free technology, such as Sona Comstar and the January 2025 pact by Enedym, is in line with India's full-localization mandate for EV components. Current AIS-38 and short-circuit safety revisions, rolled out from late 2024 to early 2025, push local innovation further, positioning India as a regional benchmark for the safe and affordable traction motor manufacturing. 

Country/Region

2038 Revenue Share (%)

Unique Technology Focus

Key Growth Driver

Notable Project/Initiative

Japan

21.0

Ultra-high-efficiency PMSM motors

Premium EV performance focus

Toyota Solid-State Motor Program

China

37.5

Integrated motor-inverter units

EV production scale (60% global output)

CATL Hyper-Factory Motor Ecosystem

India

15.5

Low-cost switched reluctance motors

Electric 2W/3W dominance

National E-Mobility Mission 2030

South Korea

10.0

800V high-speed axial flux motors

Luxury/performance EV exports

Kia EV9 Dual-Motor Platform

Australia

7.0

Mining truck traction systems

Critical mineral logistics

Pilbara Heavy EV Fleet Initiative

Indonesia

4.0

Nickel-optimized thermal management

Local battery material advantage

20k Islands EV Ferry Conversion

Malaysia

3.5

ASEAN-spec humidity-resistant motors

Regional EV supply chain hub

Penang EV Motor Manufacturing Cluster

Rest of APAC

1.5

Modular swappable motor units

Island mobility affordability

Pacific E-Trike Rollout Program

North America Market Insights

North America electric vehicle traction motors market is expected to increase at a CAGR of 16.9% between 2025 and 2036, driven by government policy initiatives, technological advancements, and surges in OEM investment. For example, Tesla began mass production of in-house-designed silicon carbide inverters at its Texas Gigafactory in July 2024, achieving an 8% power conversion efficiency improvement for the Model Y and setting new industry benchmarks. The region is strengthened by modularity, eDrive platform integration, and higher manufacturing, as demonstrated by Magna's July 2024 production ramp of combined eDrive units for North American OEMs. Incentives and the strict emissions regulations enable North America's rapid transition to domestic, high-efficiency traction motor solutions.

The U.S. electric vehicle (EV) traction motors market is advancing quite rapidly, fueled by tighter EPA emissions regulations finalized in August 2024 for model years 2027-2032. These regulations are driving an extensive move towards high-efficiency motor adoption and fleet electrification. For instance, in March 2024, Lucid Motors introduced silicon carbide inverters to improve the efficiency, range, and lifespan of its luxury EV offering, illustrating the leadership of the U.S. market in both mainstream and premium traction motor technology. With rising domestic content mandates and technology investment, the U.S. is poised for further volume and technical progress.

Canada electric vehicle traction motors market is growing at a stable rate, owing to the rising investments by technology partners and manufacturers in localized manufacturing and system integration. For instance. ABB shipped advanced energy-efficient electric train motor systems in August 2024 to key Canadian transit projects, supporting sustainability and facilitating the national decarbonization goals of the country. Canadian car manufacturers are also investing in next-generation motor control software and deploying rare-earth-free motor technologies. Federal and provincial incentives towards fleet electrification and EV component localization are stimulating steady innovation and growth in Canada's EV traction motor sector.  

Europe Market Insights

Europe electric vehicle traction motors market is expected to witness significant growth between 2026 and 2038, driven by ambitious carbon neutrality goals, increasing localization, and government incentives for EV infrastructure. In March 2024, Hyundai and IVECO introduced the 'eMoovy' electric commercial vehicle platform in Europe, blending electric motor technology with local assembly. Further investment and fleet transformation are promoted by the European Union's distribution of $422 million in October 2023 through the AFIF program for H2 refueling and EV charging. As new partnerships and supply agreements proliferate, Europe remains a hub of advanced motor technology innovation and green mobility.

Germany electric vehicle traction motors market is backed by ground-breaking high-voltage and rare-earth-free traction motor tech innovation. Bosch and Volkswagen's March 2024 partnership offered silicon carbide-based 125kW rapid charging and optimized total drive efficiency, establishing Germany's position for high-voltage e-mobility. The region's automotive supply chain is supported by local manufacturing, R&D growth, and partnerships aimed at modular, scalable e-drive systems for the premium and mass market. Government-backed emission and localization standards ensure sustained growth.

The UK electric vehicle (EV) traction motors market is emerging as a hub for ultra-light, axial flux, and in-wheel motor technology. In May 2025, YASA Limited began developing high-torque, rare-earth-free axial flux motors with £23 million support from the Advanced Propulsion Centre, targeting take-up in UK and foreign EVs. Government net-zero commitment, combined with investment in electrified mobility R&D, is influencing new vehicle architectures and next-generation traction motor supply chains. The UK's blend of start-up ingenuity and OEM collaboration places it at the global vanguard of fast-paced EV drivetrain innovation.

Country Specific Insights

Country

2038 Revenue Share (%)

% of Auto R&D Budget (2025)

2025 Market Size (USD Million)

Key Insights

United Kingdom

15.0

7.5

2,700.0

High-performance motor R&D (Aston Martin), BREAM-certified manufacturing

Germany

29.5

11.0

5,600.0

Premium axial-flux leadership (Porsche, BMW), 45% EU export share

France

17.0

7.8

2,500.0

Stellantis supply chain integration, Renault's motor recycling tech

Italy

13.0

5.5

2,000.0

Luxury hypercar IPM motors (Ferrari), marine EV conversions

Spain

8.5

6.5

1,500.0

SEAT/Cupra volume production, Morocco-EU motor supply corridor

Nordics

11.5

6.2

1,700.0

Arctic-grade cold-weather motors (Volvo Trucks), electric ferry dominance

Rest of Europe

5.5

4.0

1,100.0

Eastern EU cost-driven manufacturing, EU Battery Regulation compliance
Electric Vehicle Traction Motors Market Share
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Key Electric Vehicle Traction Motors Market Players:

    The global EV traction motors market is extremely competitive, featuring an international portfolio of seasoned players and new entrants driving innovation, scale, and diversity in applications. Key companies in the market are advancing product portfolios with integrated drives, rare-earth-free innovations, and high-voltage e-axle offerings and competing in the auto, rail, and commercial vehicle industries. Among the significant developments in the industry was when Bosch began delivering new high-voltage e-axles to Daimler in March 2025, thereby optimizing Europe's premium electric truck platforms. Meanwhile, players such as ABB, BYD, and Magna are building up capacity for next-generation, high-torque applications. While OEMs are driving decarbonization, mobility innovation, and localization, competition will continue to be driven by technology, policy, and the globalization of the EV value chain.

    Here are some leading companies in the electric vehicle (EV) traction motors market:  

    Company Name

    Country

    Market Share (%)

    Robert Bosch GmbH

    Germany

    9

    Nidec Corporation

    Japan

    7.7

    ZF Friedrichshafen AG

    Germany

    6.2

    Valeo

    France

    5.8

    BorgWarner Inc.

    USA

    5.1

    Parker-Hannifin Corp

    USA

    xx

    Hitachi Astemo, Ltd.

    Japan

    xx

    Jing-Jin Electric Technologies Co., Ltd.

    China

    xx

    Shanghai Edrive Co. Ltd.

    China

    xx

    Electrodrive Powertrain Solutions Pvt. Ltd.

    India

    xx

    YASA Limited

    UK

    xx

    Magna International Inc.

    Germany

    xx

    Dana Limited

    USA

    xx

    AMETEK Inc.

    USA

    xx

    Toshiba International Corporation

    USA

    xx

    Below are the areas covered for each company in the EV traction motors market:

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis

Recent Developments

  • In June 2025, YASA Limited inaugurated the UK’s first axial flux motor super-factory, specializing in high-density, lightweight EV motors. Backed by Mercedes-Benz, the facility aims to bolster the supply of next-generation traction motors to global premium and performance EV manufacturers.
  • In April 2025, ZF Commercial Vehicle Solutions commenced its first large-scale deployment of AxTrax 2 electric axles in India, supporting a significant fleet renewal toward zero-emission intercity buses. This rollout contributes to India’s clean bus targets and strengthens ZF’s local footprint.
  • In April 2025, Mahle announced the mass-production of wear-free, rare-earth-free electric motors for EVs, supporting sustainability and cost reduction. These motors cater to a spectrum of mobility, from two-wheelers to commercial vehicles, and are now being integrated by major European automakers.
  • Report ID: 7981
  • Published Date: Aug 01, 2025
  • Report Format: PDF, PPT
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Frequently Asked Questions (FAQ)

In 2024, the industry size of EV traction motors was USD 10.7 billion.

The global EV traction motors market size was USD 10.7 billion in 2024 and is expected to reach USD 75.9 billion by the end of 2036, expanding at a CAGR of 17.7% during the forecast period, i.e., 2025-2036. In 2025, the industry size of electric vehicle (EV) traction motors will be valued at USD 12.6 billion.

Key players in the market are Robert Bosch GmbH, Nidec Corporation, ZF Friedrichshafen AG, Valeo, BorgWarner Inc., Parker-Hannifin Corp, Hitachi Astemo, Ltd., Jing-Jin Electric Technologies Co., Ltd., Shanghai Edrive Co. Ltd., Electrodrive Powertrain Solutions Pvt. Ltd., YASA Limited, Magna International Inc., Dana Limited, AMETEK Inc., Toshiba International Corporation.

The permanent magnet synchronous motors (PMSM) segment is anticipated to lead the EV traction motors market during the forecast period.

APAC is anticipated to dominate the EV traction motors market during the forecast period.

Electric Vehicle Traction Motors Market Report Scope

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