Summary

Electric Commercial Vehicle Traction Motor Market Size
The global electric commercial vehicle traction motor market size was valued at $2.10 billion in 2024 and is projected to reach $9.24 billion by 2030, growing at a CAGR of 28.0% during the forecast period.

Electric Commercial Vehicle Traction Motor Market Overview
An electric commercial vehicle traction motor is a critical component in electric vehicles designed for commercial use, such as buses, trucks, and delivery vans. Unlike traditional internal combustion engines, these vehicles rely on electric motors to generate power and drive the wheels. The traction motor converts electrical energy from the vehicle's battery pack into mechanical energy, propelling the vehicle forward. It operates efficiently across a wide range of speeds, providing instant torque for quick acceleration and maintaining consistent performance under varying loads. Electric commercial vehicle traction motors are engineered for durability and reliability to meet the demands of heavy-duty applications, offering lower maintenance costs and reduced environmental impact compared to diesel or gasoline-powered counterparts. As the market for electric commercial vehicles grows, advancements in traction motor technology continue to improve efficiency, range, and overall operational capabilities, driving the adoption of cleaner and more sustainable transportation solutions globally.

Electric Commercial Vehicle Traction Motor Market Dynamics
• The electric commercial vehicle traction motor market is expected to witness significant growth in the future due to increasing government regulations favoring zero-emission vehicles, rising demand for sustainable transportation solutions, and advances in battery technology enhancing range and performance.
• Additionally, the growing investments in electric vehicle infrastructure and lower operational expenses compared to internal combustion engines are the prominent factors driving the growth of the electric commercial vehicle traction motor market.
• However, high initial costs of electric vehicle components, limited charging infrastructure in certain regions, and the concerns over battery recycling are restraining the market growth.
• On the contrary, the development of fast-charging technologies, integration of autonomous driving technologies in electric commercial vehicles, and increasing demand for last-mile delivery solutions in urban areas are creating opportunities for market growth.

By Design, the Radial Flux Segment held the Larger Market Share, and it would continue on this Path during the Forecast Period
The radial flux segment dominated the market share and is expected to maintain its leading position throughout the forecast period owing to the their compact size, high torque density, and efficient power delivery, making them particularly suitable for commercial vehicles that require robust performance and space-saving designs. These motors offer superior thermal management capabilities, crucial for heavy-duty applications where continuous operation under varying loads is essential. Moreover, their design flexibility allows for easier integration into different vehicle architectures, accommodating the diverse needs of electric buses, trucks, and delivery vans. As governments worldwide implement stringent emissions regulations and incentivize the adoption of electric vehicles, radial flux traction motors emerge as a preferred choice for reducing carbon footprints and operational costs in commercial fleets. Additionally, advancements in radial flux motor technology, such as improved magnet materials and manufacturing techniques, continue to enhance efficiency and reliability, further driving their demand in the electric commercial vehicle market.

By Geography, Asia Pacific Dominates by Being the Largest Market for Electric Commercial Vehicle Traction Motor
Asia Pacific leads as the primary market for electric commercial vehicle traction motor during the forecast period as the governments in countries like China, Japan, and South Korea are aggressively promoting electric vehicles (EVs) to curb emissions and improve air quality. These initiatives include generous subsidies, tax incentives, and stringent regulations favoring zero-emission vehicles, thereby creating a favorable environment for electric commercial vehicles. Moreover, the region's robust manufacturing capabilities and competitive cost structures support the production of electric vehicles and their components, including traction motors. The growing adoption of EVs in logistics and public transport sectors, driven by operational cost savings and environmental benefits, further boosts demand for reliable and efficient traction motors tailored for commercial applications. Additionally, collaborations between local automakers, technology firms, and government bodies to develop EV infrastructure and charging networks are pivotal in accelerating the market uptake of electric commercial vehicles and their associated traction motor technologies in Asia Pacific.
• For instance, in January 2023 American Axle and Manufacturing, Inc. partnered with EKA Mobility (India) to supply the EKA E-Beam axle for their 2.5-ton battery electric commercial vehicle.

Key Target Audience:
• Automotive Manufacturers (OEMs)
• Electric Vehicle Component Suppliers
• Battery Manufacturers
• Government Agencies and Regulators
• Fleet Operators and Logistics Companies

List of the Key Players Profiled in the Report Includes:
• Allison Transmission, Inc.
• American Axle & Manufacturing, Inc.
• BORGWARNER INC
• BYD
• Dana Limited
• Magna International Inc
• Mahle GMBH
• Robert Bosch GmbH
• Schaeffler AG
• Shenzhen Inovance Technology
• ZF Friedrichshafen AG

Recent Developments:
• In January 2024, American Axle & Manufacturing unveiled its next-generation 3-in-1 electric drive units (eDUs) and fully integrated e-Beam axles at CES 2024, showcasing innovative component technologies that are shaping the future of global mobility.
• In December 2023, BorgWarner Inc. acquired the Electric Hybrid Systems business segment of Eldor Corporation. This acquisition significantly complements BorgWarner's propulsion portfolio by expanding its high-voltage power electronics capabilities beyond just inverters.

Market Segmentation:
The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Design:
• Axial Flux
• Radial Flux

Market by, Axle Architecture:
• Central Drive Unit
• Integrated Axle

Market by, Transmission:
• Single Speed Drive
• Multi-speed Drive

Market by, Motor Type:
• AC Induction Motor
• DC Traction Motor
• Permanent Magnet Synchronous Motor (PMSM)

Market by, Power Output:
• Less than 100 kW
• 100−200 kW
• 200-400 kW
• Above 400 kW

Market by, Vehicle Type:
• Pickup Trucks
• Medium-duty Trucks
• Heavy-duty Trucks
• Vans
• Buses & Coaches

Market by, Geography:
The electric commercial vehicle traction motor market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:
• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

Scope of the Report:
The report “Global Electric Commercial Vehicle Traction Motor Market: Industry Analysis, Opportunities and Forecast up to 2030” by Diligence Insights provides a detailed analysis of the present market and future outlook with market estimates and forecasts for all specified segments, encompassing both global and regional perspectives as outlined within the research framework. The study includes historical market data for the years 2022, 2023 and offers revenue estimations for 2024, and project forecasts spanning from 2025 to 2030. It places significant emphasis on the examination of market trends, key industry participants, supply chain developments, technological advancements, pivotal milestones, and prospective strategies. Comprehensive market assessments are carried out across major geographic regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. As such, this report constitutes a valuable resource for current industry stakeholders, newcomers to the field, and potential investors.

The study offers an in-depth market analysis, drawing insights from industry experts across the value chain. A special focus has been made on 25 countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, and South Africa, among others. The market data has been meticulously collected through extensive primary interviews and comprehensive secondary research. Market size determination is rooted in the revenue generated from sales across all the specified segments and sub-segments as defined within the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

The report offers insights into the following aspects:
• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.
• Analysis of the market structure by identifying various segments and sub-segments of the market.
• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.
• Understand major player profiles in the market and analyze their business strategies.
• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.

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Table of Contents

1 Market Introduction
1.1 Market Definition
1.2 Research Scope and Segmentation
1.3 Stakeholders
1.4 List of Abbreviations

2 Executive Summary

3 Research Methodology
3.1 Identification of Data
3.2 Data Analysis
3.3 Verification
3.4 Data Sources
3.5 Assumptions

4 Market Dynamics
4.1 Market Drivers
4.2 Market Restraints
4.3 Market Opportunities
4.4 Market Challenges

5 Porter's Five Force Analysis
5.1 Bargaining Power of Suppliers
5.2 Bargaining Power of Buyers
5.3 Threat of New Entrants
5.4 Threat of Substitutes
5.5 Competitive Rivalry in the Market

6 Global Electric Commercial Vehicle Traction Motor Market by, Design
6.1 Overview
6.2 Axial Flux
6.3 Radial Flux

7 Global Electric Commercial Vehicle Traction Motor Market by, Axle Architecture
7.1 Overview
7.2 Central Drive Unit
7.3 Integrated Axle

8 Global Electric Commercial Vehicle Traction Motor Market by, Transmission
8.1 Overview
8.2 Single Speed Drive
8.3 Multi-speed Drive

9 Global Electric Commercial Vehicle Traction Motor Market by, Motor Type
9.1 Overview
9.2 AC Induction Motor
9.3 DC Traction Motor
9.4 Permanent Magnet Synchronous Motor (PMSM)

10 Global Electric Commercial Vehicle Traction Motor Market by, Power Output
10.1 Overview
10.2 Less than 100 kW
10.3 100−200 kW
10.4 200-400 kW
10.5 Above 400 kW

11 Global Electric Commercial Vehicle Traction Motor Market by, Vehicle Type
11.1 Overview
11.2 Pickup Trucks
11.3 Medium-duty Trucks
11.4 Heavy-duty Trucks
11.5 Vans
11.5.1 Light Vans
11.5.2 Full-size Vans
11.6 Buses & Coaches

12 Global Electric Commercial Vehicle Traction Motor Market by, Geography
12.1 Overview
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 France
12.3.3 UK
12.3.4 Italy
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 China
12.4.2 Japan
12.4.3 India
12.4.4 South Korea
12.4.5 Australia
12.4.6 New Zealand
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Brazil
12.5.2 Argentina
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 UAE
12.6.2 Saudi Arabia
12.6.3 Qatar
12.6.4 Iran
12.6.5 South Africa
12.6.6 Rest of Middle East & Africa

13 Key Developments

14 Company Profiling
14.1 Allison Transmission, Inc.
14.1.1 Business Overview
14.1.2 Product/Service Offering
14.1.3 Financial Overview
14.1.4 SWOT Analysis
14.1.5 Key Activities
14.2 American Axle & Manufacturing, Inc.
14.3 BORGWARNER INC
14.4 BYD
14.5 Dana Limited
14.6 Magna International Inc
14.7 Mahle GMBH
14.8 Robert Bosch GmbH
14.9 Schaeffler AG
14.10 Shenzhen Inovance Technology
14.11 ZF Friedrichshafen AG