EV Traction Motor Market: Sale Likely to Surpass USD 3,700 Million by 2019-End


Rockville, MD -- (SBWIRE) -- 05/20/2019 -- Buoyed by near-zero emissions and high fuel efficiency, electric vehicles and hybrid electric vehicles have been dramatically gaining momentum in the automotive landscape. Several automobile original-equipment manufacturers (OEMs) have pulled up their socks on the designing of new electric vehicle and hybrid electric vehicle. However, OEMs biggest challenges has been arguably the designing of traction motors, which preferably is interior permanent magnet (IPM) synchronous machines.

By influencing advanced state-of-the art simulation, automotive organizations seek a considerable competitive advantage in the rat race to replace traditional powertrain technology. A slew of technological advantages associated with the vehicles have enabled manufacturers to sort out a range of competing demands—from eco-friendliness to government regulations to affordability.  Accordingly, governments across countries are subsidizing owners of electric vehicles which is expected to bolster the growth of EV traction motor market.

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. Renewable energy power plants which are targeted to offer the bulk of energy for EVs—hydro, nuclear and wind-powered plants—do not emit considerable pollutions. According to the study, the sale of EV traction motors is projected to surpass USD 3,700 Million by 2019. With sale forecast of over USD 1,700 million in the same year, North America is slated to rule the roost in the EV traction motor market. Growing traction for both passenger vehicles and commercial vehicles along with fad for hybrid and electric vehicle is being attributed as factors to trigger the development in the region.

With reliability being paramount for stakeholders as it brings goodwill in line. As such, EV traction operators are expected to operate under pressing and hostile conditions—rough road conditions; severe vibrations and hot and cold temperatures. Further, traction operators are joining hands with esteemed automakers who look to roll out electric vehicles.

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EV Traction Motor Market: Synopsis

The intelligence report on the EV traction motor market is backed up by qualitative and quantitative analysis. Besides, the report delineates the dynamics in the market which have overarching influence in the growth of the EV traction motor market, including drivers, restraints, trends, and opportunities. Additionally, the report also delineates segmentation to reveals a comprehensive analysis of the EV traction motor market.

The report also shed light on executive summary and overview section, comprehensively delineating EV traction motor market. Furthermore, the overview section delves into supply chain analysis, value chain analysis, pricing analysis and PESTLE analysis to shed light on the EV traction motor market.

The report swears by primary sources and secondary sources which offer an in-depth assessment on EV traction motor market. The report hinges upon primary source, which includes authentic and veracious analysis from pundits, telephonic interview and unbiased assessment from seasoned analyst, and surveys. Meanwhile, the secondary research relies on Factiva, resourceful database, EC filing and trade journals.

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