Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Electric Commercial Vehicle Traction Motor Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Is the Forecasted Market Size and CAGR for the Electric Commercial Vehicle Traction Motor Market?
The market size for the Electric Commercial Vehicle Traction Motor has seen substantial growth in the past few years. It was valued at $1.54 billion in 2024 and is projected to increase to $1.86 billion in 2025, with a compound annual growth rate (CAGR) of 20.8%.
What Is the Forecasted CAGR for the Electric Commercial Vehicle Traction Motor Market by 2029?
The Electric Commercial Vehicle Traction Motor Global Market is predicted to reach $3.89 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 20.2%.
Download the Free Sample Now:
What Are the Market Drivers in the Electric Commercial Vehicle Traction Motor Industry?
The key drivers in the electric commercial vehicle traction motor market are:
• Expansion of electric vehicle fleets by commercial logistics companies
• Adoption of autonomous driving technology in commercial vehicles
• Emergence of new business models like battery swapping for commercial EVs
• Integration with advanced vehicle systems and power electronics.
What Is the Segment-Wise Breakdown of the Electric Commercial Vehicle Traction Motor Market?
The electric commercial vehicle traction motor market covered in this report is segmented –
1) By Vehicle Type: Buses, Trucks, Vans
2) By Design: Axial Flux, Radial Flux
3) By Transmission: Single Speed Drive, Multi-Speed Drive
4) By Power Output: Less Than 100 kW, 100-200 kW, 200-400 kW, Above 400 kW
5) By Motor Type: Permanent Magnet Synchronous Motor (PMSM), Alternating Current (AC) Induction Motor, Direct Current (DC) Traction Motor
Explore the Complete Market Report:
Which Emerging Trends Are Driving Growth in the Electric Commercial Vehicle Traction Motor Sector?
The key trends in the electric commercial vehicle traction motor market are:
• Major emerging trend includes the integration of power electronics with electric vehicle traction motors.
• Development of advanced cooling techniques in electric commercial vehicles is a notable upcoming trend.
• There is a growing trend towards designing and implementing robust testing standards in the industry.
• Advanced vehicle systems are being increasingly integrated with electric commercial vehicle traction motors.
Which Companies Are Dominating the Electric Commercial Vehicle Traction Motor Market in Terms of Revenue?
Major players in the electric commercial vehicle traction motor market are:
• Robert Bosch GmbH
• Hitachi Ltd.
• Siemens AG
• Posco International
• BYD CO.LTD
• Denso Corporation
• ZF Friedrichshafen AG
• Continental AG
• Magna International Inc.
• Aisin Corporation
• ASEA Brown Boveri ABB
• Toshiba Group
• Valeo SA
• Nidec Corporation
• Parker Hannifin Corporation
• BorgWarner Inc.
• Dana Limited
• American Axle & Manufacturing
• Allison Transmission Inc.
• TECO Electric And Machinery Co.
• Zhongshan Broad-Ocean Motor Co. Ltd.
• Remy Group
• MAHLE GmbH
• Kollmorgen
• Equipmake
What Are the Regions Driving Demand in the Electric Commercial Vehicle Traction Motor Market?
Asia-Pacific was the largest region in the electric commercial vehicle traction motor market in 2024
