세계 자동차용 트랙션 모터 시장 규모는 2024년 101억 9,000만 달러에서 예측 기간 동안 21.71%의 연평균 복합 성장률(CAGR)로 성장을 지속하여 2032년에는 490억 7,000만 달러 규모에 달할 것으로 예측됩니다.
전기자동차가 트랙션 모터를 요구하게 되고 있습니다만, 그 주된 이유는 환경 친화적으로 연료 경제 중시의 세계를 향한 정부의 정책에 의해 수요가 증가하고 있기 때문입니다. 예를 들어 EU는 2050년까지 수 송기관의 배출가스를 90% 삭감할 것을 의무화하고 있으며, 전기차로 이행하는 동향이 되고 있습니다.
게다가 자동차의 기술 진보도 시장 성장을 가속하는 요인 중 하나입니다. 전기자동차 구매에 대한 정부의 장려금과 보조금에 의해 보다 많은 사람들이 전기자동차를 이용할 수 있게 되어 있습니다. 예를 들어 2024년 8월 미국 에너지부는 9,200개 이상의 EV 충전 포트 배치를 포함하여 29개 주에 걸친 EV 충전 및 대체 연료 공급 인프라의 구축을 계속하기 위한 보조금 5억 2,100만 달러를 발표했습니다.
본 보고서에서는 세계 자동차용 트랙션 모터 시장을 조사했으며, 시장 정의와 개요, 시장 규모 추이와 예측, 각종 구분·지역/주요 국가별 상세 분석, 산업 구조, 시장성장에 대한 영향인자의 분석, 사례 연구, 경쟁 구도, 주요 기업 프로파일 등을 정리했습니다.
Global automotive traction motor market is projected to witness a CAGR of 21.71% during the forecast period 2025-2032, growing from USD 10.19 billion in 2024 to USD 49.07 billion in 2032. Electric vehicles are increasingly demanding traction motors, mostly due to the increased demand from people and manufacturers, further prompted by government policies and regulations towards an environmentally friendly, fuel economy-oriented world. For instance, the European Union has mandated reducing transport emissions by 90% by 2050, a trend towards electric vehicles. As fuel prices continue to rise, consumers are leaning towards electric alternatives, growing EVs and thus expanding the traction motors market.
Moreover, technological advancement in vehicles is another factor that drives market growth. New motor efficiency and high-performance lithium-ion batteries make electric and hybrid vehicles more attractive to consumers. Further, the government's incentives and subsidies for purchasing electric vehicles make it accessible to more people. Critical investments in charging infrastructure and public transport systems pave an environment for the diffusion of electric vehicles and components such as traction motors. For instance, in August 2024, the U.S. Department of Energy announced USD 521 million in grants to continue building EV charging and alternative fueling infrastructure across 29 states, including the deployment of more than 9,200 EV charging ports. However, the rising need for traction motors in areas other than automobile areas, such as rail or others, is driving overall market demand.
For example, in November 2023, ABB Ltd entered a strategic partnership with Titagarh for metro projects in India. The agreement involved the transfer of technology and licensing to be part of the Make in India initiative by the government. The deal encompasses an agreement, wherein Titagarh will procure ABB Ltd propulsion systems, including traction converters, auxiliary converters, traction motors, and TCMS software.
Electrification of Vehicles is Driving Global Market Growth
The electric traction motor is at the core of the increasing adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs), converting electrical energy into mechanical energy to provide propulsion. EVs do not rely on combustion, unlike traditional internal combustion engines (ICEs), making it cleaner and more efficient, aligning with the world's sustainability goals. Advancement in motor technology is another major driver, which has made vehicles more powerful and efficient, enhancing vehicle performance. Government initiatives are promoting zero-emission vehicles (ZEVs), propelling market growth. Most countries have set mandates to force automakers to produce a certain percentage of electric or hybrid vehicles, forcing manufacturers to spend significantly on traction motor technology. In addition, increasing awareness of the harmful effects of vehicle emissions is driving consumers toward cleaner transportation options, thereby increasing demand for EVs, leading to the growth of the global automotive traction motor market.
For instance, in February 2024, Sona Comstar, a part of Sona BLW Precision Forgings Limited, received the Production Linked Incentive (PLI) certificate for its traction motor for electric two-wheelers.
Technological Advancements to Fuel Market Growth Globally
Innovations in motor design in the form of high-efficiency motors with improved power density and thermal management capabilities, are enhancing their appeal to manufacturers and consumers. The integration of advanced materials, including rare earth metals and lightweight composites, contributes to higher performance while reducing overall weight, leading to improvement in traction motor efficiency with energy savings meant to be used in recharging the battery. Some of the newer developments include silicon carbide-based metal-oxide-semiconductor field-effect transistor (MOSFETs) improving power density and reducing lost power during the actual conversion within the power electronic circuit, a function that enables electric vehicles to run smoother and get accelerated quick compared to before, hence pleasing the customers. Additional features, such as regenerative braking, enable traction motors to seize kinetic energy when the vehicle decelerates, which allows energy use optimization. Such components will offer faster switching speeds and higher power densities so that energy losses in power conversion are minimized, improving a vehicle's overall performance, driving the global automotive traction motor market growth in the forecast period. Improved motor control system innovations allow even finer control over speed and torque by using present algorithms. This facilitates smoother acceleration and regenerative braking, optimizing energy management within electric vehicles.
For instance, in September 2022, ZF Friedrichshafen AG unveiled new electric drive modules and systems. The company has unveiled its new CeTrax 2 electric central drive, an integrated, modular e-drive system for heavy-duty commercial vehicles. Leveraging in-house developed components, it features two high performance oil-cooled e-motors as well as two integrated 800 Volt silicon carbide (SiC) inverters. CeTrax 2 uses an advanced three-speed gearbox that is able to perform powershifts.
AC Traction Motor to Dominate Market Share
The dominance of AC traction motors is increasingly evident globally, due to the numerous benefits over conventional DC motors, of which simplification in their manufacturing process and operational efficiency are the most significant reasons. There is no mechanical commutator in an AC motor, eliminating the need for extensive maintenance works and thus furthering its reliability. They are so attractive for being used in electric vehicles or hybrid electric vehicles. AC traction motors are also lighter than their DC counterparts for the same output of power, which is vital to enhancing the overall efficiency and performance of electric vehicles. The incorporation of advanced electronics enables precise control over AC motors for fine optimization of traction and adhesion while providing for exact speed regulation. This ability is critical for today's electric vehicles, which need high performance and energy efficiency.
For instance, in January 2024, ABB Ltd announced it would deliver a complete traction chain to upgrade Romania's locomotives. The use of modern insulated-gate bipolar transistor (IGBT) traction converters with new traction transformers and AC traction motors will enable overall drive train efficiency improvements of around 5% versus the old traction system with thyristor rectifier and DC motors. New transformers, converters and electric motors supplied by ABB Ltd will support the locomotives reaching top speeds of 160 km/h versus the current 120km/h.
Europe to Dominate Automotive Traction Motor Market Share
Europe is leading in the global automotive traction motor market due to presence of giant manufacturer of electric vehicles and their respective components, including traction motors. Stringent emission norms prevalent among all European countries, compelling car manufacturers to move towards electric mobility solutions. Aggressive carbon emission targets by the European Union are driving car manufacturers to increase their output of EVs, hence directly increasing the demand for traction motors. Furthermore, investments in charging infrastructure along with government incentives, in the form of subsidies or tax breaks on electric vehicle purchase, enhance consumer demand for EVs with advanced traction motors.
Europe hosts many leading automobile and technology companies, which adds to its appeal in the global market. Companies are key players in the development and supply of traction motors, contributing to the region's technological advancements and market growth.
For instance, in October 2024, TD Power Systems Limited, a leading manufacturer of generators and electric motors, signed a five-year agreement to supply traction motors to Europe, anticipating a business volume of USD 35.46 million from the agreement. The initial order, worth USD 2.1 million, is scheduled for delivery in April 2025.
Future Market Scenario (2025 - 2032F)
Innovations in traction motor technology, including the development of Permanent Magnet Synchronous Motors (PMSM) and AC traction motors are enhancing performance and efficiency.
Supportive government initiatives like subsidies on EV purchase and investments in charging infrastructure are expected to boost market growth.
Increased investment in transportation infrastructure, including railways and urban transit systems is creating opportunities.
Key Players Landscape and Outlook
The global automotive traction motor market features a dynamic and competitive landscape, with several key players driving the innovation and growth in the sector. Prominent companies are at the forefront of developing and manufacturing traction motors, focusing on enhancing efficiency, performance, and reliability to meet the surging demand for electric vehicles. Key players have invested heavily in research and development to better motor designs, especially Permanent Magnet Synchronous Motors (PMSMs) that would likely see the highest growth as they exhibit superior characteristics in performance. Other new ideas like the use of light materials and the development of sophisticated thermal management systems are under investigation to achieve further improved motor efficiency. Despite these positive trends, market pressures include price volatility for raw materials such as copper and aluminum, and traction motor safety concerns that would negatively affect production costs and the stability of the supply chain. However, electric mobility will continue to create huge opportunities for market growth.
For instance, in May 2022, Electric mobility startup Entuple E-Mobility Private Limited and automotive systems supplier Aditya Auto Products & Engineering (India) Private Limited have formed a joint venture to set up manufacturing facilities to supply electric traction hubs and mid-drive motors in Bangalore. The production of BLDC and PMSM Traction Motors will add to their existing portfolio of motors as they strive to offer our customers high performance, top-quality and cost-effective electric drivetrain solutions with a high level of localization.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.