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Automotive Traction Motor Market
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Automotive Traction Motor Market Size, Growth Trends, and Forecast 2025-2034

Author: Swarup Sahu - Senior Consultant, Report ID - DS2001050, Published - January 2025

Segmented in Vehicle Type (Electric Cars, Hybrid Cars, Fuel Cell Cars), Type (Permanent Magnet Synchronous, Asynchronous, Synchronous Reluctance, Switched Reluctance), Power Output and Application

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Global Automotive Traction Motor
Market Outlook

The importance of the Automotive Traction Motor in the market cannot be overstated as it brings about changes in the field of transportation technology and innovation. The market, for Automotive traction motor was estimated at $48.8 billion in 2024. It is anticipated to increase to $198.0 billion by 2030 with projections indicating a growth to around $636.3 billion by 2035. This expansion represents a compound annual growth rate (CAGR) of 26.3% over the forecast period. In line with the industry’s shift towards electric and hybrid vehicles these powerful motors greatly improve vehicle performance and offer superior power compared to traditional engines. This shift is reshaping the landscape and signifies a pivotal moment in global transportation amidst a growing focus, on sustainability and renewable energy sources.


Car Traction Motors are specially crafted for vehicles (EV) converting electrical power into mechanical energy to drive the propulsion system efficiently and with minimal emissions, for enhanced vehicle performance overall.


Market Size Forecast & Key Insights

2019
$48.8B2024
2029
$503B2034

Absolute Growth Opportunity = $455B

The Automotive Traction Motor market is projected to grow from $48.8 billion in 2024 to $503 billion in 2034. This represents a CAGR of 26.3%, reflecting rising demand across Electric Vehicles Propulsion, Hybrid Vehicles Drive System and Regenerative Braking.

The Automotive Traction Motor market is set to add $455 billion between 2024 and 2034, with manufacturer targeting Asynchronous & Synchronous Reluctance Type projected to gain a larger market share.

With Increasing electrification of vehicles, and Rising focus on energy efficiency, Automotive Traction Motor market to expand 933% between 2024 and 2034.

Opportunities in the Automotive Traction Motor Market

Advancements in Motor Technology

Advancements in technology such as the development of permanent magnet synchronous motors and switch reluctance motors provide significant opportunities. These motors offer higher torque, efficiency, and speed dynamics which can support the evolving needs of progressive automotive designs

Electric Vehicles Revolution and Regenerative Braking Systems

The rising concern for the environment and the support from governments are driving up the popularity of vehicles . The market for automotive traction motors, in EVs presents a significant opportunity for manufacturers to create motors that are more efficient and perform better to meet growing demand.

The growing emphasis placed upon energy recuperation systems in automobiles like braking presents a fresh opportunity for market expansion. A vital element, in these systems are the traction motors found in vehicles which convert the captured kinetic energy into power resultantly enhancing the overall efficiency of the vehicle.

Growth Opportunities in North America and Europe

Europe Outlook

Europe is closely monitoring the situation with a focus on reducing carbon emissions and supportive regulations in place to drive progress forward in the automotive industry sector. The competition is mainly centered around advancements as various companies and suppliers are investing heavily in cutting edge technologies. The growth potential hinges, on how sustainable initiatives are put into action and government incentives promote the adoption of electric vehicles.

North America Outlook

In the Automotive Traction Motor market globally North America takes the lead due to its regulations and support for electric vehicles along with a robust infrastructure in place. Competition is fierce in this region as key players focus on innovating their products. Opportunities, for growth are seen in research and development efforts aimed at enhancing motor efficiency and cutting costs further.

North America Outlook

In the Automotive Traction Motor market globally North America takes the lead due to its regulations and support for electric vehicles along with a robust infrastructure in place. Competition is fierce in this region as key players focus on innovating their products. Opportunities, for growth are seen in research and development efforts aimed at enhancing motor efficiency and cutting costs further.

Europe Outlook

Europe is closely monitoring the situation with a focus on reducing carbon emissions and supportive regulations in place to drive progress forward in the automotive industry sector. The competition is mainly centered around advancements as various companies and suppliers are investing heavily in cutting edge technologies. The growth potential hinges, on how sustainable initiatives are put into action and government incentives promote the adoption of electric vehicles.

Growth Opportunities in North America and Europe

Established and Emerging Market's Growth Trend 2025–2034

1

Major Markets : United States, China, Germany, Japan, South Korea are expected to grow at 25.2% to 36.8% CAGR

2

Emerging Markets : India, Brazil, South Africa are expected to grow at 19.7% to 27.4% CAGR

Market Analysis Chart

The demand for automotive traction motors is being boosted by factors in the market industry. One crucial factor is the sectors increasing emphasis on electric vehicles . Due to emissions regulations globally and the decreasing cost of batteries the popularity of EVs has soared, leading to a greater demand for effective automotive traction motors. Moreover improvements in motor design and manufacturing technologies are opening up opportunities, for enhanced performance and efficiency thereby fuel ing market expansion.

Recent Developments and Technological Advancement

December 2024

General Motors made investments, in self driving car technology by improving the performance of its traction motors to increase efficiency.

October 2024

Tesla revealed a version of their traction motors that will increase the range and performance of their electric vehicles.

July 2024

Bosch launched a new range of energy-efficient traction motors, contributing to global emission reduction efforts

The current advancements in the Automotive Traction Motor driven predominantly by the increasing popularity of vehicles are experiencing notable growth, in the market sector.

Impact of Industry Transitions on the Automotive Traction Motor Market

As a core segment of the Automotive industry, the Automotive Traction Motor market develops in line with broader industry shifts. Over recent years, transitions such as Transition towards Electric Vehicles and Adoption of Advanced Technologies have redefined priorities across the Automotive sector, influencing how the Automotive Traction Motor market evolves in terms of demand, applications and competitive dynamics. These transitions highlight the structural changes shaping long-term growth opportunities.

1

Transition towards Electric Vehicles:

Given the increasing worries about the environment and strict emission regulations in place nowadays the automotive sector is experiencing a change from traditional internal combustion engines to electric cars. The traction motors used in vehicles play a crucial role and are expected to see substantial growth. This shift toward transportation presents profitable prospects, for manufacturers of traction motors and is enhancing the market as a whole.

2

Adoption of Advanced Technologies:

There has been an increase in the use of modern technologies such as permanent magnet synchronous motors and induction motors that is creating a stir in the automotive traction motor sector. These innovations are admired for their effectiveness and capabilities which give car manufacturers an advantage, in the market.

Global Events Shaping Future Growth

The chart below highlights how external events including emerging market developments, regulatory changes, and technological disruptions , have added another layer of complexity to the Automotive industry. These events have disrupted supply networks, changed consumption behavior, and reshaped growth patterns. Together with structural industry transitions, they demonstrate how changes within the Automotive industry cascade into the Automotive Traction Motor market, setting the stage for its future growth trajectory.

Impact of global events on parent industry growth from 2020 to 2030

Market Dynamics and Supply Chain

Driver: Increasing Electrification of Vehicles, and Advancements in Power Electronics

The increasing interest in vehicles is also a key factor propelling the Automotive Traction Motor industry forward. The rise in consumer preference for eco transportation choices has also led to an uptick in the manufacturing of hybrid and fully electric cars, by automotive companies. Theses of vehicles rely heavily upon traction motors which is also driving the expansion of this market segment.
Advancements in power electronics have also driven the creation of lighter traction motors that are also more efficient in operation. The increased versatility of these motors, in the sector is also fueli ng market expansion.
There has also been a focus to improve energy efficiency and decrease CO​ ₂ emissions which has also driven innovation, in traction motor technology​. Companies are also working towards creating high efficiency traction motors to help lower energy usage and emissions​ ultimately enhancing market growth.

Restraint: High Manufacturing Costs

The production of automotive traction motors typically requires materials and cutting edge technology. The substantial investment in manufacturing facilities can lead to a rise, in overall expenses. This increased cost of production might hinder the expansion of the automotive traction motor industry by driving up the products price to a point where it becomes too expensive for a large number of potential buyers.

Challenge: Technological Complexities

Producing traction motors for cars is quite intricate. Demands a good grasp of technology and expertise in the field which can pose challenges for various market participants such, as smaller or new businesses lacking the needed resources or know how. Additionally the continuous advancements and changing technology require research and development efforts leading to significant expenditures that might impede market growth.

Supply Chain Landscape

Raw Material Providers

Sumitomo Metal Mining Co. Ltd

Showa Denko K.K

Component Manufacturers

ABB Ltd.

Siemens AG

Traction Motor Assemblers
Bosch Limited / Mitsubishi Electric Corporation
End Users
Tesla Inc / General Motors Company
Raw Material Providers

Sumitomo Metal Mining Co. Ltd

Showa Denko K.K

Component Manufacturers

ABB Ltd.

Siemens AG

Traction Motor Assemblers

Bosch Limited

Mitsubishi Electric Corporation

End Users

Tesla Inc

General Motors Company

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Leading Providers and Their Strategies

Application AreaIndustryLeading ProvidersProvider Strategies
Electric Vehicles
Automotive
Tesla, Inc.
Focus on innovation and enhancement of motor efficiency
Hybrid Vehicles
Automotive
Toyota Motor Corporation
Adoption of advanced technologies for improved performance
Commercial Vehicles
Transportation
Magna International Inc.
Engineered solutions and systems development for variety in power options
Two-Wheelers
Automatic and Transport
Bosch Limited
High investment in R&D for enhancement of motor performance

Elevate your strategic vision with in-depth analysis of key applications, leading market players & their strategies. Report analyze industry leader's views & statements on Automotive Traction Motor market's present & future growth.

Our research is created following strict editorial standards. See our Editorial Policy

Applications of Automotive Traction Motor in Electric Vehicles Propulsion, Hybrid Vehicles Drive System and Regenerative Braking

Electric Vehicles Propulsion

Automotive traction motors play a role in powering electric vehicles by converting electrical energy into mechanical energy to propel the vehicle forward sustainably and reduce reliance on fossil fuels. Tesla and Nissan are players, in this industry and emphasize their strategic use of high quality traction motors to enhance EV performance significantly.

Hybrid Vehicles Drive System

In vehicles drive systems is where automotive traction motors find another important use case scenario. In this setup the traction motor collaborates with the internal combustion engine to provide performance and better fuel efficiency. Leading companies like Toyota and Hyundai are heavily involved, in this sector strategically employing traction motors to enhance power efficiency and decrease emissions.

Regenerative Braking

In the world of applications for automotive technology advancements traction motors in cars are now being utilized to power regenerative braking systems. This innovative system. Stores energy that is typically wasted during braking maneuvers and then uses it later for accelerating the vehicle. Not does regenerative braking help save energy but it also prolongs the lifespan of the braking mechanism offering a notable benefit. Prominent companies like Bosch and Delphi Automotive are focusing on energy solutions as part of their strategic initiatives, in this sector.

Automotive Traction Motor vs. Substitutes:
Performance and Positioning Analysis

Automotive traction motors excel over options due to their impressive acceleration capabilities and reliability. This positions them as a leading choice in the electric mobility market. Showcases potential for substantial growth, in the future.

Automotive Traction Motor
  • IC Engines /
  • Hybrid Power Systems
    High performance, improved fuel efficiency
    High production cost, need for regular maintenance
    Fuel efficiency, Easy availability of fuels
    High maintenance costs, Environmental impact

Automotive Traction Motor vs. Substitutes:
Performance and Positioning Analysis

Automotive Traction Motor

  • High performance, improved fuel efficiency
  • High production cost, need for regular maintenance

IC Engines / Hybrid Power Systems

  • Fuel efficiency, Easy availability of fuels
  • High maintenance costs, Environmental impact

Automotive traction motors excel over options due to their impressive acceleration capabilities and reliability. This positions them as a leading choice in the electric mobility market. Showcases potential for substantial growth, in the future.

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Research Methodology

This market research methodology defines the Automotive Traction Motor market scope, gathers reliable data, and validates findings using integrated primary and secondary research. Our systematic framework ensures precise market sizing, growth trend analysis, and competitive benchmarking.


Secondary Research Approach


We begin secondary research by defining the targeted market at macro and micro levels. As part of the Automotive ecosystem, we analyze Automotive Traction Motor across Passenger Vehicles and Commercial Vehicles Applications. Our team gathers data systematically from country level ministerial sources, industry associations & federations, trade databases, company annual & quarterly reports and other credential sources, enabling us to map global and regional market size, pricing trends, regulatory standards, and technology advancements.



Key Sources Referenced:


We benchmark competitors such as Bosch Group, Continental AG, and Denso Corporation by reviewing company financial statements, and regulatory filings. Our secondary insights identify key market drivers and constraints, forming the analytical foundation for primary research.


Primary Research Methods


We conduct structured interviews and surveys with industry stakeholders, including Raw Material Providers, Component Manufacturers, and Traction Motor Assemblers. Our geographic coverage spans Americas (40%), Europe (30%), Asia-Pacific (25%) and Middle East & Africa (5%). Our online surveys generally achieve a response rate of above 65%, and telephone interviews yield 60%, resulting in above 92% confidence level with a ±7% margin of error.


Through targeted questionnaires and in-depth interviews, we capture purchase intent, adoption barriers, brand perception across Segment Type. We use interview guides to ensure consistency and anonymous survey options to mitigate response bias. These primary insights validate secondary findings and align market sizing with real-world conditions.


Market Engineering & Data Analysis Framework


Our data analysis framework integrates Top-Down, Bottom-Up, and Company Market Share approaches to estimate and project market size with precision.


Top-down & Bottom-Up Process


In Top-down approach, we disaggregate global Automotive revenues to estimate the Automotive Traction Motor segment, using historical growth patterns to set baseline trends. Simultaneously, in Bottom-up approach, we aggregate Country-Level Demand Data to derive regional and global forecasts, which provide granular consumption insights. By reconciling both approaches, we ensure statistical precision and cross-validation accuracy.


We evaluate the supply chain, spanning Raw Material Providers (Sumitomo Metal Mining Co. Ltd, Showa Denko K.K), Component Manufacturers (ABB Ltd., Siemens AG), and Traction Motor Assemblers. Our parallel substitute analysis examines IC Engines and Hybrid Power Systems, highlighting diversification opportunities and competitive risks.


Company Market Share & Benchmarking


We benchmark leading companies such as Bosch Group, Continental AG, and Denso Corporation, analyzing their capabilities in pricing, product features, technology adoption, and distribution reach. By assessing company-level revenues and product portfolios, we derive market share comparisons, clarifying competitive positioning and growth trajectories across the ecosystem.


Our integration of data triangulation, supply chain evaluation, and company benchmarking, supported by our proprietary Directional Superposition methodology enables us to deliver precise forecasts and actionable strategic insights into the Automotive Traction Motor market.


Quality Assurance and Compliance


We cross-reference secondary data with primary inputs and external expert reviews to confirm consistency. Further, we use stratified sampling, anonymous surveys, third-party interviews, and time-based sampling to reduce bias and strengthen our results.


Our methodology is developed in alignment with ISO 20252 standards and ICC/ESOMAR guidelines for research ethics. The study methodology follows globally recognized frameworks such as ISO 20252 and ICC codes of practice.

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Automotive Traction Motor Market Data: Size, Segmentation & Growth Forecast

Report AttributeDetails
Market Value in 2025USD 61.6 billion
Revenue Forecast in 2034USD 503 billion
Growth RateCAGR of 26.3% from 2025 to 2034
Base Year for Estimation2024
Industry Revenue 202448.8 billion
Growth OpportunityUSD 455 billion
Historical Data2019 - 2023
Growth Projection / Forecast Period2025 - 2034
Market Size UnitsMarket Revenue in USD billion and Industry Statistics
Market Size 202448.8 billion USD
Market Size 202798.3 billion USD
Market Size 2029156 billion USD
Market Size 2030198 billion USD
Market Size 2034503 billion USD
Market Size 2035636 billion USD
Report CoverageMarket revenue for past 5 years and forecast for future 10 years, Competitive Analysis & Company Market Share, Strategic Insights & trends
Segments CoveredVehicle Type, Type, Power Output, Application
Regional scopeNorth America, Europe, Asia Pacific, Latin America and Middle East & Africa
Country scopeU.S., Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE and South Africa
Companies ProfiledBosch Group, Continental AG, Denso Corporation, Hitachi Automotive Systems Ltd, Johnson Electric Holdings Limited, Magna International Inc, Mitsubishi Electric Corporation, Siemens AG, Valeo SA, ZF Friedrichshafen AG, BMW AG and Tesla Inc
CustomizationFree customization at segment, region or country scope and direct contact with report analyst team for 10 to 20 working hours for any additional niche requirement which is almost equivalent to 10% of report value

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Table of Contents

Industry Insights Report - Table Of Contents

Chapter 1

Executive Summary

Major Markets & Their Performance - Statistical Snapshots

Chapter 2

Research Methodology

2.1Axioms & Postulates
2.2Market Introduction & Research MethodologyEstimation & Forecast Parameters / Major Databases & Sources
Chapter 3

Market Dynamics

3.1Market OverviewDrivers / Restraints / Opportunities / M4 Factors
3.2Market Trends
3.2.1Introduction & Narratives
3.2.2Market Trends - Impact Analysis(Short, Medium & Long Term Impacts)
3.3Supply Chain Analysis
3.4Porter's Five ForcesSuppliers & Buyers' Bargaining Power, Threat of Substitution & New Market Entrants, Competitive Rivalry
Chapter 4

Automotive Traction Motor Market Size, Opportunities & Strategic Insights, by Vehicle Type

4.1Electric Cars
4.2Hybrid Cars
4.3Fuel Cell Cars
Chapter 5

Automotive Traction Motor Market Size, Opportunities & Strategic Insights, by Type

5.1Permanent Magnet Synchronous
5.2Asynchronous
5.3Synchronous Reluctance
5.4Switched Reluctance
Chapter 6

Automotive Traction Motor Market Size, Opportunities & Strategic Insights, by Power Output

6.1Less than 20kW
6.220-40kW
6.340-60kW
6.4Above 60kW
Chapter 7

Automotive Traction Motor Market Size, Opportunities & Strategic Insights, by Application

7.1Passenger Vehicles
7.2Commercial Vehicles
Chapter 8

Automotive Traction Motor Market, by Region

8.1North America Automotive Traction Motor Market Size, Opportunities, Key Trends & Strategic Insights
8.1.1U.S.
8.1.2Canada
8.2Europe Automotive Traction Motor Market Size, Opportunities, Key Trends & Strategic Insights
8.2.1Germany
8.2.2France
8.2.3UK
8.2.4Italy
8.2.5The Netherlands
8.2.6Rest of EU
8.3Asia Pacific Automotive Traction Motor Market Size, Opportunities, Key Trends & Strategic Insights
8.3.1China
8.3.2Japan
8.3.3South Korea
8.3.4India
8.3.5Australia
8.3.6Thailand
8.3.7Rest of APAC
8.4Middle East & Africa Automotive Traction Motor Market Size, Opportunities, Key Trends & Strategic Insights
8.4.1Saudi Arabia
8.4.2United Arab Emirates
8.4.3South Africa
8.4.4Rest of MEA
8.5Latin America Automotive Traction Motor Market Size, Opportunities, Key Trends & Strategic Insights
8.5.1Brazil
8.5.2Mexico
8.5.3Rest of LA
8.6CIS Automotive Traction Motor Market Size, Opportunities, Key Trends & Strategic Insights
8.6.1Russia
8.6.2Rest of CIS
Chapter 9

Competitive Landscape

9.1Competitive Dashboard & Market Share Analysis
9.2Company Profiles (Overview, Financials, Developments, SWOT)
9.2.1Bosch Group
9.2.2Continental AG
9.2.3Denso Corporation
9.2.4Hitachi Automotive Systems Ltd
9.2.5Johnson Electric Holdings Limited
9.2.6Magna International Inc
9.2.7Mitsubishi Electric Corporation
9.2.8Siemens AG
9.2.9Valeo SA
9.2.10ZF Friedrichshafen AG
9.2.11BMW AG
9.2.12Tesla Inc