Electric Traction Motor Market
Report ID: SQMIG20D2357
Report ID: SQMIG20D2357
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Report ID:
SQMIG20D2357 |
Region:
Global |
Published Date: September, 2025
Pages:
189
|Tables:
89
|Figures:
70
Global Electric Traction Motor Market size was valued at USD 25.55 Billion in 2024 and is poised to grow from USD 28.23 Billion in 2025 to USD 62.75 Billion by 2033, growing at a CAGR of 10.5% in the forecast period (2026–2033).
Growing investments in electric vehicles and growing demand for energy-saving motors are driving the global electric traction motor market growth. Moreover, the demand for EVs is being fueled by stringent environmental policies and emissions norms to ensure environmental sustainability, providing favorable market growth conditions.
Rising investments in the manufacturing of electric vehicles (EVs) due to their widespread adoption, along with growing demand for motors with high energy efficiency, are major market drivers. Traction motors enable EVs to optimize their acceleration performance, as the ability to instantly access maximum torque from a standstill allows vehicles to accelerate smoothly and rapidly.
In addition, global sales of hybrid electric vehicles (HEVs) have been increased because of the growing demand by the public for zero-emission vehicles. Hence, it is anticipated that the market would benefit from the increased production of HEVs. The government is also launching several programs for the promotion of the sales of EVs, such as tax relief and rebates, which is fueling the market.
How is AI Impacting the Electric Traction Motor Market in 2024?
Artificial intelligence (AI) significantly changes the electric traction motor market by optimizing the engine's design, increasing predictive maintenance and improving system integration in electric and hybrid cars. AI technologies are built into motor control units and vehicle management systems to detect real-time performance analysis, energy adaptation and errors, resulting in motor efficiency, safety and lifelong improvement.
Market snapshot - 2026-2033
Global Market Size
USD 23.12 Billion
Largest Segment
Alternating Current (AC) Motor
Fastest Growth
Direct Current (DC) Motor
Growth Rate
10.5% CAGR
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Global electric traction motor market is segmented into type, power rating, application and region. Based on type, the market is segmented into alternating current (AC) motor and direct current (DC) motor. based on power rating, the market is segmented into below 200 kw, 200–400 kw and above 400 kw. Based on application, the market is segmented into railway, electric vehicle, industrial machinery and others. Based on region, the market is segmented into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
Why are AC Motors Preferred in Electric and Industrial Vehicles?
As per the global electric traction motor market outlook, the alternating current (AC) motor segment holds the dominant share of the market. This dominance stems from their high efficiency, lower maintenance, and superior performance in high-power applications. AC motors, particularly induction and synchronous types, are widely used in electric vehicles (EVs), trains, industrial equipment, and buses due to their reliability, better torque-speed characteristics, and scalability for both light and heavy-duty systems. Most modern EVs from Tesla to BYD are equipped with AC motors due to their adaptability to regenerative braking and advanced motor controllers.
As per global electric traction motor market forecast, the direct current (DC) motor segment is growing, especially in low-voltage applications, such as electric scooters, e-bikes, forklifts, and compact mobility systems. While they offer simpler control and high initial torque, their usage in automotive and large-scale transit systems is declining due to higher maintenance needs and lower energy efficiency compared to AC motors. However, brushless DC motors (BLDC), a modern DC variant, are gaining traction in compact electric vehicles and two-wheelers, offering improved performance over traditional brushed motors.
How Does Vehicle Volume Influence Filter Demand in Passenger Cars?
The railway segment holds the dominant market share. This is due to the long-standing electrification of rail networks across Europe, Asia, and parts of North America. Electric traction motors are widely deployed in metro systems, high-speed trains, trams, and electric locomotives, where reliability, high torque, and efficiency are essential. Governments and transit authorities have heavily invested in railway electrification projects for environmental and economic reasons, making this a mature yet large-volume segment.
As per the global electric traction motor market analysis, the electric vehicle is the fastest-growing segment. This segment is driven by global decarbonization goals, emission regulations, and the surge in consumer and commercial EV adoption. The demand for traction motors in this segment is rising exponentially. Automakers are increasingly investing in high-efficiency motor designs such as permanent magnet synchronous motors (PMSMs) and induction motors to meet evolving vehicle performance and energy consumption standards.
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Why is Asia Pacific the Leading Region for Electric Traction Motors?
Asia Pacific is a leading global traction motor production and innovation, supported by its dominance in electric vehicle manufacturing and strong domestic demand. Countries like China, Japan, and South Korea have vertically integrated supply chains and are pioneering advancements in motor architecture, magnet technology, and motor control software.
Electric Traction Motor Market in Japan
As per industry analysis, Japan is at the forefront of hybrid and EV development. Companies like Toyota and Mitsubishi Electric are innovating high-efficiency traction motors with superior thermal management and power density. Government investments are increasingly directed toward research and development of rare-earth-free and axial flux motors, aiming to strengthen Japan’s EV supply chain and enhance its long-term technological resilience.
Electric Traction Motor Market in South Korea
South Korea is focusing on next-gen EV platforms such as Hyundai’s E-GMP, which includes in-house developed traction motors. The country's leadership in battery and power electronics enhances its competitive edge. Government incentives and global EV exports are pushing local suppliers to expand production capabilities.
How is the Electric Traction Motor Market Evolving in North America?
As per regional outlook, North America is experiencing significant growth in the electric traction motor market, fueled by strong electric vehicle (EV) demand, infrastructure modernization, and public transportation electrification. Government policies like tax credits, emissions regulations, and clean energy incentives are driving OEM investments in advanced motor technologies for both on-road and off-road applications.
Electric Traction Motor Market in the U.S.
The U.S. is the largest contributor to the North America region. Leading automakers such as Tesla, GM, and Ford are scaling up production of EVs and investing in proprietary motor designs to enhance range and performance. The commercial sector, including last-mile logistics and electric buses—is also driving demand. Federal and state-level clean energy policies are catalyzing further adoption.
Electric Traction Motor Market in Canada
As per regional forecast, Canada is rapidly electrifying its transit and freight systems. The government’s Zero-Emission Vehicle (ZEV) programs have led to wider deployment of electric buses and incentives for OEMs developing electric powertrain technologies. Canadian rail and mining sectors are also adopting traction motors for sustainable heavy transport.
How are European Emissions Targets Reshaping the Regional Traction Motor Landscape?
Europe is undergoing a large-scale shift toward electrified transportation, bolstered by stringent emission norms, sustainability mandates, and EV subsidies. The region is also heavily investing in electric rail and metro infrastructure, creating strong demand for industrial-grade traction motors.
Electric Traction Motor Market in Germany
Germany is a major manufacturing and R&D hub for electric motors. Companies like Bosch, ZF, and Siemens are developing lightweight, high-torque traction motors for both automotive and rail sectors. National decarbonization goals and support for hydrogen and e-mobility platforms are further boosting innovation.
Electric Traction Motor Market in the UK
The UK’s planned phase-out of internal combustion engines by 2035 is driving traction motor investments. Engineering firms are innovating in compact, magnet-free motors, while academic institutions are supporting commercialization of novel motor designs. The government’s Advanced Propulsion Centre is co-funding many of these efforts.
Electric Traction Motor Market in Italy
Italy is focusing on electrification of urban mobility and regional rail systems. Domestic OEMs are developing compact electric powertrains for light vehicles and collaborating with European partners to supply components for EV platforms. Government-backed green transition programs are helping small and medium firms enter the traction motor value chain.
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Electric Traction Motor Market Drivers
Rising Adoption of Electric Vehicles (EVs) Worldwide
Electrification of Railway and Industrial Systems
Electric Traction Motor Market Restraints
High Cost of Advanced Motor Technologies
Limited Charging Infrastructure in Emerging Economies
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The electric traction motor market is highly competitive, characterized by the presence of established industrial giants and emerging players focused on EV and clean transport innovation. Key companies such as Siemens, ABB, Nidec, and Robert Bosch GmbH dominate through diversified motor portfolios, global supply networks, and continuous investment in R&D. These players compete not only on motor efficiency and performance but also on integration capabilities with inverters, battery systems, and control software.
As per market strategies, in 2024, the competitive intensity increased with Siemens AG launching its new Xcelerator-based digital twin platform for e-mobility traction systems in collaboration with NVIDIA. This strategic move allowed Siemens to provide OEMs with advanced design, simulation, and optimization tools for electric motors, giving them an edge in next-generation EV development.
Startups are playing an increasingly influential role in reshaping the electric traction motor market, especially by introducing disruptive technologies focused on high efficiency, compact design, and AI integration. These young companies often target niches left underserved by traditional manufacturers, such as micromobility, low-voltage EVs, or modular motor platforms for fast-deploying fleets.
Top Player’s Company Profiles
Recent Developments in Electric Traction Motor Market
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing investments in electric vehicles and growing demand for energy-saving motors are driving the global electric traction motor market growth. Moreover, the demand for EVs is being fueled by stringent environmental policies and emissions norms to ensure environmental sustainability, providing favorable market growth conditions. In recent years, the growing need to cater to diverse consumer requirements has encouraged EV manufacturers to invest in research & development initiatives to introduce more effective solutions. High initial costs and reliance on rare-earth materials remain key restraints in the electric traction motor market, posing challenges for affordability, supply chain stability, and sustainable large-scale adoption.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 25.55 Billion |
| Market size value in 2033 | USD 62.75 Billion |
| Growth Rate | 10.5% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Electric Traction Motor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Electric Traction Motor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Electric Traction Motor Market:
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