Electric Traction Motor Market Trends

Drivers

Demand for the Energy-Efficient Motor

• One of the most prominent drivers pushing the electric traction motor market is the increasing demand for energy-efficient motors. Energy efficiency in vehicles makes it possible for low maintenance and energy saving. Fossil fuel prices continuously change. However, the electric traction market is highly driven by the increasing price of gasoline. That is why electric traction motor powered vehicles are rapidly gaining popularity. Moreover, in future years, it will become increasingly the norm to cut carbon emissions.

Favorable Government Policies

• The application of electric traction motors is encouraged by the government through laws. They are superior since they assist in saving energy and curbing environmental pollutants. The upcoming years will witness strict policies in limiting the emission of carbon. It will lead to the utilization of green technology. The electric traction market will flourish with the regulation of the environment. Demand and revenue for the market will increase during the forecast period.

Restraints

Motor Failure is the major Limitations

• The machine or technology's motor is most crucial. There is a swift negative impact that traction motor failure has on aggregate demand. Increasing R&D investment is the remedy to the problem in that it is going to be done by the leading players in the industry. Market growth, however, will be impacted by the engines' failure and overheating.

Complex Process of Manufacturing Electric Traction Motor

• High-quality raw materials are required to produce this technological energy efficiency. High-quality metals like copper and aluminum are used in the process. The electric traction motor, however, is confronted with difficulties by the fluctuation in raw material prices. There are certain market anomalies arising due to low or high price volatility in raw materials.