Electric Commercial Vehicle Traction Motor Market 2025 Research Report By Motor Type (Permanent Magnet Synchronous Motor (PMSM), AC Induction Motor, DC Traction Motor), By Vehicle Type (Pickup Trucks, Trucks, Buses & Coaches, Vans), by Power Output (Less than 100 kW, 100–200 kw, 200–400 kw, Above 400 kw), and by Region- Global Forecast to 2034
May-2025 Formats | PDF | Category: Automotive | Delivery: 24 to 72 Hours
“The Electric Commercial Vehicle Traction Motor Market is expected to expand from 2.59 Billion in 2025 to $ 27.78 Billion in 2034, with a compound annual growth rate of 29.45% “
Electric Commercial Vehicle Traction Motor Market: Overview and Growth in the Upcoming Year
The increasing demand for electric vehicles in the transportation sector, the market for traction motors for electric commercial vehicles is growing rapidly. In an attempt to reduce carbon emissions and improve fuel efficiency, many companies are moving to electric vehicles, which has raised demand for traction motors.
Traction motors are crucial components of electric vehicles because they provide the power needed to move the vehicle. The expanding market for electric vehicles is expected to significantly raise demand for traction motors in the years to come.
Researchers predict that in the upcoming year, the market for traction motors for electric commercial vehicles will grow significantly. Government incentives, rising fuel prices, and technological advancements are expected to be the main drivers of this growth.
Government incentives such as tax credits and rebates for the sale of electric vehicles are encouraging more individuals and companies to transition to electric vehicles. As a result, traction motors are becoming more and more necessary.
Additionally, as fuel prices continue to rise, consumers’ interest in electric vehicles is growing because of the financial benefits they provide. Since they are more cost-effective and energy-efficient to operate than traditional gasoline-powered vehicles, electric commercial vehicles are growing in popularity.
Among the leading companies dominating the market for traction motors for electric commercial vehicles are Siemens, ABB, and Bosch. These companies are investing heavily in research and development to create more powerful and effective traction motors for electric vehicles.
As the market continues to grow, new businesses are entering it, bringing innovative solutions and increasing industry competition. Customers are expected to gain from technological advancements and lower traction motor costs brought about by this competitive environment, which will also encourage further market expansion.
For Insights Consultancy’s latest market intelligence study, “Global Electric Commercial Vehicle Traction Motor Market 2025, Growth Opportunities, and Forecast,” provides a comprehensive analysis of the Food industry. The report includes demand analysis, industry insights, competition intelligence, and a customer database. It also offers strategic insights into future trends, growth determinants, supplier landscape, demand landscape, CAGR, and pricing analysis. The study also includes Porter’s Five Forces Analysis, PESTLE Analysis, Value Chain Analysis, 4 Ps’ Analysis, Market Attractiveness Analysis, BPS Analysis, and Ecosystem Analysis.
*Note: Sample of the report provides details on the scope and coverage, table of contents, research methodology, and Sample Framework of the report. Actual report of 110+ is available for purchase to all the interested stakeholders.
Top Companies Covered In This Report:
- Allison Transmission Inc
- BYD
- Dana Limited
- Mercedes-Benz Group AG
- GEM Motors
- BorgWarner Inc.
- Magna International Inc.
- Robert Bosch GmbH
- Traton SE
Industry News
03/10/2025 Traton Group continued its successful course in 2024: sales revenue rose to €47.5 billion, incoming orders remained stable, adjusted operating return on sales increased to 9.2%
In 2024, BYD, a leader in the electric commercial vehicle sector, has been making strides in developing and deploying electric traction motors for various applications. Autocar Professional reports that BYD unveiled its E-VALI light commercial vehicle (LCV) at IAA Transportation 2024, showcasing a 250km range and fast-charging capabilities. BYD’s “Super e-Platform” and its advanced charging technology are also being highlighted, with models like the Han L and Tang L utilizing this platform.
2025 TRATON GROUP is systematically preparing for the transition to electric drives. The commercial vehicle manufacturer has now decided to invest a total of 1.6 billion euros (Rs 13,227 crore) in research and development for e-mobility by 2025.
Detailed Segmentation and Classification of the report (Market Size and Forecast – 2034, Y-o-Y growth rate, and CAGR):
Segment By Motor Type
- Permanent Magnet Synchronous Motor (PMSM)
- AC Induction Motor
- DC Traction Motor
Segment By Vehicle Type
- Pickup Trucks
- Trucks
- Buses & Coaches
- Vans
Segment By Power Output
- Less than 100 kW
- 100–200 kw
- 200–400 kw
- Above 400 kw
Segment By Transmission
- Single-Speed Drive
- Multi-Speed Drive
Segment ByAxle Architecture
- Integrated Axle
- Central Drive Unit
Regional Deep-dive Analysis:
North America- A Hub for Electric Commercial Vehicles
North America has emerged as a hub for electric commercial vehicles, with countries such as the United States and Canada establishing the benchmark for the adoption of eco-friendly modes of transportation. These countries have been investing heavily in infrastructure development and government subsidies to promote the use of electric buses and commercial trucks.
United States
The US is at the forefront of the electric vehicle revolution thanks to large investments made in electric car technology by automakers like Tesla, Ford, and General Motors. The government has also contributed to the transition to electric vehicles by offering tax breaks and other incentives to both consumers and businesses. As a result, companies like BorgWarner and Cummins are setting the bar for innovation and technology, and the US market for traction motors for electric commercial vehicles is growing.
Canada
Canada has also made significant strides in promoting electric commercial vehicles, with provinces like British Columbia and Ontario offering incentives for the purchase of electric trucks and buses. The country has set ambitious targets to reduce greenhouse gas emissions and has been working towards a more sustainable transportation sector. Consequently, companies such as TM4 and Ballard Power Systems play a pivotal role in driving the growth of the electric commercial vehicle traction motor market in Canada.
Asia-Pacific
China
China is a major player in the market for traction motors for electric commercial vehicles, as it has the largest number of electric cars on the road. The growth of the commercial vehicle market and the government’s push for electrification have led to a greater demand for traction motors across the country. Chinese manufacturers such as BYD and Nidec are leading the way in the development of reliable and efficient traction motors for commercial vehicles.
Japan
Japan’s reputation for innovation in the automotive industry extends to the market for traction motors for electric commercial vehicles. Because Japanese companies like Toyota and Mitsubishi have made large investments in electric car technology, there is a high demand for high-performance traction motors.
India
India is now a significant market for electric commercial vehicles thanks to government incentives and a push for eco-friendly transportation options. The demand for efficient traction motors in commercial vehicles is rising in India as a result of automakers like Tata Motors and Mahindra setting the bar for the manufacture of electric vehicles. The Indian market offers tremendous growth potential for traction motor suppliers looking to expand their presence in the region.
Australia
Australia is also witnessing a rise in the use of electric commercial vehicles, with a focus on reducing emissions and promoting clean energy transportation. Although the market for traction motors in commercial vehicles is still relatively young, it is steadily growing as a result of government initiatives and growing environmental awareness. Australian companies like SEA Electric are setting the standard for the development of electric commercial vehicles, which is creating opportunities for traction motor suppliers.
Europe
Germany
To promote the purchase of electric vehicles, particularly commercial models, the German government has been offering significant financial incentives. This has led to a significant increase in the number of electric commercial vehicles on the road. In a similar vein, France has been actively promoting the use of electric vehicles through the implementation of laws such as financial aid for the purchase of automobiles and investments in infrastructure for charging them.
France
France’s focus on eco-friendly transportation has led to a rise in traction motor sales. Companies like Valeo and Renault are actively researching and developing high-efficiency traction motors for electric vehicles.
Middle East and Africa
Saudi Arabia
Saudi Arabia’s substantial investments in eco-friendly transportation options under its Vision 2030 initiative are driving the growth of the electric vehicle market.
UAE
Because of the government’s aggressive efforts to encourage the use of electric vehicles, there is a high demand for traction motors for commercial vehicles in the United Arab Emirates.
Africa
Countries in Africa, such as South Africa, Nigeria, and Kenya, are progressively switching to electric commercial vehicles in an effort to address environmental concerns and reduce reliance on imported fossil fuels. With its abundance of renewable energy resources, South Africa is well-positioned to lead the regional electric vehicle revolution.
Nigeria
Nigeria, Africa’s most populous country, is also investigating electric car solutions to combat air pollution in major cities like Lagos. Kenya, a nation known for its innovative approach to renewable energy, is focusing on developing a robust EV infrastructure, which will create opportunities for traction motor manufacturers.
The research provides answers to the following key questions:
- What is the expected growth rate of the Electric Commercial Vehicle Traction Motor Market from 2025-2034?
- What are the key driving forces shaping the market during the forecast period?
- Who are the major market vendors and what winning strategies have helped them occupy a strong foothold in the Electric Commercial Vehicle Traction Motor Market?
- What are the prominent market trends influencing the market’s development?
Key insights provided by the report that could help you take critical strategic decisions?
- Regional reports analyse product/service consumption and market factors in each region.
- Reports highlight possibilities and dangers for suppliers in the Electric Commercial Vehicle Traction Motor Market business globally.
- The report identifies regions and sectors with the highest growth potential.
- It provides a competitive market ranking of major companies, as well as information on new product launches, partnerships, business expansions, and acquisitions.
- The report includes a comprehensive corporate profile with company overviews, insights, product benchmarks, and SWOT analysis for key market participants.
Customization: We can provide following things
1) On request more company profiles (competitors)
2) Data about particular country or region
3) We will incorporate the same with no additional cost (Post conducting feasibility).
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Table of Contents
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