The global market for EV Traction Motor was estimated to be worth US$ 24285 million in 2024 and is forecast to a readjusted size of US$ 86395 million by 2031 with a CAGR of 19.0% during the forecast period 2025-2031.
This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on EV Traction Motor cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.
EV Traction Motor refers to an electric motor specifically designed to drive the wheels of an electric vehicle (EV), converting electrical energy from the battery into mechanical energy to provide propulsion. These motors are engineered for high torque, efficiency, and responsiveness across a wide speed range, and are a core component in battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell electric vehicles (FCEVs).
The EV traction motor market shows immense potential across China, the USA, the EU, Japan, and other regions, driven by rapid electric vehicle adoption, government decarbonization mandates, and technological advancements; in China, the world's largest EV market, strong domestic demand, aggressive government incentives, and vertically integrated supply chains are propelling both volume growth and innovation in traction motor design, particularly with permanent magnet synchronous motors (PMSM) and integrated motor-drive systems; in the United States, the market is expanding due to rising EV production by traditional automakers and startups alike, supported by the Inflation Reduction Act and increasing investment in localized motor manufacturing and critical material supply chains; in the European Union, strict carbon emission targets, a fast-growing EV consumer base, and premium automakers transitioning to electric drivetrains are stimulating strong demand for high-efficiency, compact, and cost-effective traction motors, especially in Germany and France, where regional players are pushing innovations in axial flux and hairpin-winding motor technologies; in Japan, although EV uptake has lagged behind China and Europe, the traction motor market is growing steadily thanks to hybrid system dominance, R&D leadership in precision motor control, and recent policy shifts to accelerate BEV development by companies like Toyota and Nissan; beyond these core markets, emerging economies in Southeast Asia and Latin America also present rising opportunities, as local EV assembly expands and infrastructure improves, while globally, the traction motor market is increasingly shaped by the push for rare-earth-free alternatives, next-generation cooling technologies, modular motor architectures, and tighter integration with inverters and gearboxes, all of which are crucial to improving power density, reducing cost, and meeting diverse vehicle platform requirements in an electrified global automotive landscape.
This report aims to provide a comprehensive presentation of the global market for EV Traction Motor, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of EV Traction Motor by region & country, by Type, and by Application.
The EV Traction Motor market size, estimations, and forecasts are provided in terms of sales volume (K Units) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding EV Traction Motor.
Market Segmentation
By Company
- BMW
- Fukuta Motor
- Broad-Ocean
- BYD
- Nissan
- Continental AG
- Jing-Jin Electric Technologies
- ZF
- Groupe Renault
- Toyota
- Meidensha
- BOSCH
- UAES
- LG
- Dajun Tech
- SIEMENS
- Greatland Electrics
- Hitachi Automotive Systems
- Magna
- Huayu Automotive Electric Systems co., Ltd.
- Zhejiang Founder Motor Co., Ltd
- Huawei
Segment by Type
- AC Induction Motor
- Permanent Magnet Motor
Segment by Application
By Region
- North America
- Asia-Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia-Pacific
- Europe
- Germany
- France
- U.K.
- Italy
- Netherlands
- Nordic Countries
- Rest of Europe
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of EV Traction Motor manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of EV Traction Motor in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of EV Traction Motor in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Table of Contents
1 Market Overview
- 1.1 EV Traction Motor Product Introduction
- 1.2 Global EV Traction Motor Market Size Forecast
- 1.2.1 Global EV Traction Motor Sales Value (2020-2031)
- 1.2.2 Global EV Traction Motor Sales Volume (2020-2031)
- 1.2.3 Global EV Traction Motor Sales Price (2020-2031)
- 1.3 EV Traction Motor Market Trends & Drivers
- 1.3.1 EV Traction Motor Industry Trends
- 1.3.2 EV Traction Motor Market Drivers & Opportunity
- 1.3.3 EV Traction Motor Market Challenges
- 1.3.4 EV Traction Motor Market Restraints
- 1.4 Assumptions and Limitations
- 1.5 Study Objectives
- 1.6 Years Considered
2 Competitive Analysis by Company
- 2.1 Global EV Traction Motor Players Revenue Ranking (2024)
- 2.2 Global EV Traction Motor Revenue by Company (2020-2025)
- 2.3 Global EV Traction Motor Players Sales Volume Ranking (2024)
- 2.4 Global EV Traction Motor Sales Volume by Company Players (2020-2025)
- 2.5 Global EV Traction Motor Average Price by Company (2020-2025)
- 2.6 Key Manufacturers EV Traction Motor Manufacturing Base and Headquarters
- 2.7 Key Manufacturers EV Traction Motor Product Offered
- 2.8 Key Manufacturers Time to Begin Mass Production of EV Traction Motor
- 2.9 EV Traction Motor Market Competitive Analysis
- 2.9.1 EV Traction Motor Market Concentration Rate (2020-2025)
- 2.9.2 Global 5 and 10 Largest Manufacturers by EV Traction Motor Revenue in 2024
- 2.9.3 Global Top Manufacturers by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in EV Traction Motor as of 2024)
- 2.10 Mergers & Acquisitions, Expansion
3 Segmentation by Type
- 3.1 Introduction by Type
- 3.1.1 AC Induction Motor
- 3.1.2 Permanent Magnet Motor
- 3.2 Global EV Traction Motor Sales Value by Type
- 3.2.1 Global EV Traction Motor Sales Value by Type (2020 VS 2024 VS 2031)
- 3.2.2 Global EV Traction Motor Sales Value, by Type (2020-2031)
- 3.2.3 Global EV Traction Motor Sales Value, by Type (%) (2020-2031)
- 3.3 Global EV Traction Motor Sales Volume by Type
- 3.3.1 Global EV Traction Motor Sales Volume by Type (2020 VS 2024 VS 2031)
- 3.3.2 Global EV Traction Motor Sales Volume, by Type (2020-2031)
- 3.3.3 Global EV Traction Motor Sales Volume, by Type (%) (2020-2031)
- 3.4 Global EV Traction Motor Average Price by Type (2020-2031)
4 Segmentation by Application
- 4.1 Introduction by Application
- 4.2 Global EV Traction Motor Sales Value by Application
- 4.2.1 Global EV Traction Motor Sales Value by Application (2020 VS 2024 VS 2031)
- 4.2.2 Global EV Traction Motor Sales Value, by Application (2020-2031)
- 4.2.3 Global EV Traction Motor Sales Value, by Application (%) (2020-2031)
- 4.3 Global EV Traction Motor Sales Volume by Application
- 4.3.1 Global EV Traction Motor Sales Volume by Application (2020 VS 2024 VS 2031)
- 4.3.2 Global EV Traction Motor Sales Volume, by Application (2020-2031)
- 4.3.3 Global EV Traction Motor Sales Volume, by Application (%) (2020-2031)
- 4.4 Global EV Traction Motor Average Price by Application (2020-2031)
5 Segmentation by Region
- 5.1 Global EV Traction Motor Sales Value by Region
- 5.1.1 Global EV Traction Motor Sales Value by Region: 2020 VS 2024 VS 2031
- 5.1.2 Global EV Traction Motor Sales Value by Region (2020-2025)
- 5.1.3 Global EV Traction Motor Sales Value by Region (2026-2031)
- 5.1.4 Global EV Traction Motor Sales Value by Region (%), (2020-2031)
- 5.2 Global EV Traction Motor Sales Volume by Region
- 5.2.1 Global EV Traction Motor Sales Volume by Region: 2020 VS 2024 VS 2031
- 5.2.2 Global EV Traction Motor Sales Volume by Region (2020-2025)
- 5.2.3 Global EV Traction Motor Sales Volume by Region (2026-2031)
- 5.2.4 Global EV Traction Motor Sales Volume by Region (%), (2020-2031)
- 5.3 Global EV Traction Motor Average Price by Region (2020-2031)
- 5.4 North America
- 5.4.1 North America EV Traction Motor Sales Value, 2020-2031
- 5.4.2 North America EV Traction Motor Sales Value by Country (%), 2024 VS 2031
- 5.5 Europe
- 5.5.1 Europe EV Traction Motor Sales Value, 2020-2031
- 5.5.2 Europe EV Traction Motor Sales Value by Country (%), 2024 VS 2031
- 5.6 Asia Pacific
- 5.6.1 Asia Pacific EV Traction Motor Sales Value, 2020-2031
- 5.6.2 Asia Pacific EV Traction Motor Sales Value by Region (%), 2024 VS 2031
- 5.7 South America
- 5.7.1 South America EV Traction Motor Sales Value, 2020-2031
- 5.7.2 South America EV Traction Motor Sales Value by Country (%), 2024 VS 2031
- 5.8 Middle East & Africa
- 5.8.1 Middle East & Africa EV Traction Motor Sales Value, 2020-2031
- 5.8.2 Middle East & Africa EV Traction Motor Sales Value by Country (%), 2024 VS 2031
6 Segmentation by Key Countries/Regions
- 6.1 Key Countries/Regions EV Traction Motor Sales Value Growth Trends, 2020 VS 2024 VS 2031
- 6.2 Key Countries/Regions EV Traction Motor Sales Value and Sales Volume
- 6.2.1 Key Countries/Regions EV Traction Motor Sales Value, 2020-2031
- 6.2.2 Key Countries/Regions EV Traction Motor Sales Volume, 2020-2031
- 6.3 United States
- 6.3.1 United States EV Traction Motor Sales Value, 2020-2031
- 6.3.2 United States EV Traction Motor Sales Value by Type (%), 2024 VS 2031
- 6.3.3 United States EV Traction Motor Sales Value by Application, 2024 VS 2031
- 6.4 Europe
- 6.4.1 Europe EV Traction Motor Sales Value, 2020-2031
- 6.4.2 Europe EV Traction Motor Sales Value by Type (%), 2024 VS 2031
- 6.4.3 Europe EV Traction Motor Sales Value by Application, 2024 VS 2031
- 6.5 China
- 6.5.1 China EV Traction Motor Sales Value, 2020-2031
- 6.5.2 China EV Traction Motor Sales Value by Type (%), 2024 VS 2031
- 6.5.3 China EV Traction Motor Sales Value by Application, 2024 VS 2031
- 6.6 Japan
- 6.6.1 Japan EV Traction Motor Sales Value, 2020-2031
- 6.6.2 Japan EV Traction Motor Sales Value by Type (%), 2024 VS 2031
- 6.6.3 Japan EV Traction Motor Sales Value by Application, 2024 VS 2031
- 6.7 South Korea
- 6.7.1 South Korea EV Traction Motor Sales Value, 2020-2031
- 6.7.2 South Korea EV Traction Motor Sales Value by Type (%), 2024 VS 2031
- 6.7.3 South Korea EV Traction Motor Sales Value by Application, 2024 VS 2031
- 6.8 Southeast Asia
- 6.8.1 Southeast Asia EV Traction Motor Sales Value, 2020-2031
- 6.8.2 Southeast Asia EV Traction Motor Sales Value by Type (%), 2024 VS 2031
- 6.8.3 Southeast Asia EV Traction Motor Sales Value by Application, 2024 VS 2031
- 6.9 India
- 6.9.1 India EV Traction Motor Sales Value, 2020-2031
- 6.9.2 India EV Traction Motor Sales Value by Type (%), 2024 VS 2031
- 6.9.3 India EV Traction Motor Sales Value by Application, 2024 VS 2031
7 Company Profiles
- 7.1 BMW
- 7.1.1 BMW Company Information
- 7.1.2 BMW Introduction and Business Overview
- 7.1.3 BMW EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.1.4 BMW EV Traction Motor Product Offerings
- 7.1.5 BMW Recent Development
- 7.2 Fukuta Motor
- 7.2.1 Fukuta Motor Company Information
- 7.2.2 Fukuta Motor Introduction and Business Overview
- 7.2.3 Fukuta Motor EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.2.4 Fukuta Motor EV Traction Motor Product Offerings
- 7.2.5 Fukuta Motor Recent Development
- 7.3 Broad-Ocean
- 7.3.1 Broad-Ocean Company Information
- 7.3.2 Broad-Ocean Introduction and Business Overview
- 7.3.3 Broad-Ocean EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.3.4 Broad-Ocean EV Traction Motor Product Offerings
- 7.3.5 Broad-Ocean Recent Development
- 7.4 BYD
- 7.4.1 BYD Company Information
- 7.4.2 BYD Introduction and Business Overview
- 7.4.3 BYD EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.4.4 BYD EV Traction Motor Product Offerings
- 7.4.5 BYD Recent Development
- 7.5 Nissan
- 7.5.1 Nissan Company Information
- 7.5.2 Nissan Introduction and Business Overview
- 7.5.3 Nissan EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.5.4 Nissan EV Traction Motor Product Offerings
- 7.5.5 Nissan Recent Development
- 7.6 Continental AG
- 7.6.1 Continental AG Company Information
- 7.6.2 Continental AG Introduction and Business Overview
- 7.6.3 Continental AG EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.6.4 Continental AG EV Traction Motor Product Offerings
- 7.6.5 Continental AG Recent Development
- 7.7 Jing-Jin Electric Technologies
- 7.7.1 Jing-Jin Electric Technologies Company Information
- 7.7.2 Jing-Jin Electric Technologies Introduction and Business Overview
- 7.7.3 Jing-Jin Electric Technologies EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.7.4 Jing-Jin Electric Technologies EV Traction Motor Product Offerings
- 7.7.5 Jing-Jin Electric Technologies Recent Development
- 7.8 ZF
- 7.8.1 ZF Company Information
- 7.8.2 ZF Introduction and Business Overview
- 7.8.3 ZF EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.8.4 ZF EV Traction Motor Product Offerings
- 7.8.5 ZF Recent Development
- 7.9 Groupe Renault
- 7.9.1 Groupe Renault Company Information
- 7.9.2 Groupe Renault Introduction and Business Overview
- 7.9.3 Groupe Renault EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.9.4 Groupe Renault EV Traction Motor Product Offerings
- 7.9.5 Groupe Renault Recent Development
- 7.10 Toyota
- 7.10.1 Toyota Company Information
- 7.10.2 Toyota Introduction and Business Overview
- 7.10.3 Toyota EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.10.4 Toyota EV Traction Motor Product Offerings
- 7.10.5 Toyota Recent Development
- 7.11 Meidensha
- 7.11.1 Meidensha Company Information
- 7.11.2 Meidensha Introduction and Business Overview
- 7.11.3 Meidensha EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.11.4 Meidensha EV Traction Motor Product Offerings
- 7.11.5 Meidensha Recent Development
- 7.12 BOSCH
- 7.12.1 BOSCH Company Information
- 7.12.2 BOSCH Introduction and Business Overview
- 7.12.3 BOSCH EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.12.4 BOSCH EV Traction Motor Product Offerings
- 7.12.5 BOSCH Recent Development
- 7.13 UAES
- 7.13.1 UAES Company Information
- 7.13.2 UAES Introduction and Business Overview
- 7.13.3 UAES EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.13.4 UAES EV Traction Motor Product Offerings
- 7.13.5 UAES Recent Development
- 7.14 LG
- 7.14.1 LG Company Information
- 7.14.2 LG Introduction and Business Overview
- 7.14.3 LG EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.14.4 LG EV Traction Motor Product Offerings
- 7.14.5 LG Recent Development
- 7.15 Dajun Tech
- 7.15.1 Dajun Tech Company Information
- 7.15.2 Dajun Tech Introduction and Business Overview
- 7.15.3 Dajun Tech EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.15.4 Dajun Tech EV Traction Motor Product Offerings
- 7.15.5 Dajun Tech Recent Development
- 7.16 SIEMENS
- 7.16.1 SIEMENS Company Information
- 7.16.2 SIEMENS Introduction and Business Overview
- 7.16.3 SIEMENS EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.16.4 SIEMENS EV Traction Motor Product Offerings
- 7.16.5 SIEMENS Recent Development
- 7.17 Greatland Electrics
- 7.17.1 Greatland Electrics Company Information
- 7.17.2 Greatland Electrics Introduction and Business Overview
- 7.17.3 Greatland Electrics EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.17.4 Greatland Electrics EV Traction Motor Product Offerings
- 7.17.5 Greatland Electrics Recent Development
- 7.18 Hitachi Automotive Systems
- 7.18.1 Hitachi Automotive Systems Company Information
- 7.18.2 Hitachi Automotive Systems Introduction and Business Overview
- 7.18.3 Hitachi Automotive Systems EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.18.4 Hitachi Automotive Systems EV Traction Motor Product Offerings
- 7.18.5 Hitachi Automotive Systems Recent Development
- 7.19 Magna
- 7.19.1 Magna Company Information
- 7.19.2 Magna Introduction and Business Overview
- 7.19.3 Magna EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.19.4 Magna EV Traction Motor Product Offerings
- 7.19.5 Magna Recent Development
- 7.20 Huayu Automotive Electric Systems co., Ltd.
- 7.20.1 Huayu Automotive Electric Systems co., Ltd. Company Information
- 7.20.2 Huayu Automotive Electric Systems co., Ltd. Introduction and Business Overview
- 7.20.3 Huayu Automotive Electric Systems co., Ltd. EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.20.4 Huayu Automotive Electric Systems co., Ltd. EV Traction Motor Product Offerings
- 7.20.5 Huayu Automotive Electric Systems co., Ltd. Recent Development
- 7.21 Zhejiang Founder Motor Co., Ltd
- 7.21.1 Zhejiang Founder Motor Co., Ltd Company Information
- 7.21.2 Zhejiang Founder Motor Co., Ltd Introduction and Business Overview
- 7.21.3 Zhejiang Founder Motor Co., Ltd EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.21.4 Zhejiang Founder Motor Co., Ltd EV Traction Motor Product Offerings
- 7.21.5 Zhejiang Founder Motor Co., Ltd Recent Development
- 7.22 Huawei
- 7.22.1 Huawei Company Information
- 7.22.2 Huawei Introduction and Business Overview
- 7.22.3 Huawei EV Traction Motor Sales, Revenue, Price and Gross Margin (2020-2025)
- 7.22.4 Huawei EV Traction Motor Product Offerings
- 7.22.5 Huawei Recent Development
8 Industry Chain Analysis
- 8.1 EV Traction Motor Industrial Chain
- 8.2 EV Traction Motor Upstream Analysis
- 8.2.1 Key Raw Materials
- 8.2.2 Raw Materials Key Suppliers
- 8.2.3 Manufacturing Cost Structure
- 8.3 Midstream Analysis
- 8.4 Downstream Analysis (Customers Analysis)
- 8.5 Sales Model and Sales Channels
- 8.5.1 EV Traction Motor Sales Model
- 8.5.2 Sales Channel
- 8.5.3 EV Traction Motor Distributors
9 Research Findings and Conclusion
10 Appendix
- 10.1 Research Methodology
- 10.1.1 Methodology/Research Approach
- 10.1.1.1 Research Programs/Design
- 10.1.1.2 Market Size Estimation
- 10.1.1.3 Market Breakdown and Data Triangulation
- 10.1.2 Data Source
- 10.1.2.1 Secondary Sources
- 10.1.2.2 Primary Sources
- 10.2 Author Details
- 10.3 Disclaimer