Global EV Traction Motor Market 2015-2019 - Government Subsidies and Incentives with Aisin Seiki, Continental, Magna International, Remy International & Robert Bosch Dominating

May 14, 2015, 09:11 ET from Research and Markets

DUBLIN, May 14, 2015 /PRNewswire/ --

Research and Markets ( has announced the addition of the "Global EV Traction Motor Market 2015-2019" report to their offering.

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The global EV traction motor market to grow at a CAGR of 18.57% over the period 2014-2019.

Global EV Traction Motor Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and EMEA and APAC; it also covers the vendor landscape and a corresponding detailed analysis of the market vendors in the global EV traction motor market. In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends that are emerging in the market.

The global EV traction motor market is witnessing increased investment by vendors in R&D, resulting in many innovative applications and solutions. The R&D is focused on specific needs based on traction motor applications. For instance, electric aircraft require traction motors with high reliability and a high power to weight ratio. Similarly, HEVs require traction motors that can tolerate high temperatures as they need to be placed near a conventional engine or its exhaust. Also, vendors are working to increase the energy efficiency and reduce the cost of traction motors. In addition, they are trying to generate high torque, which will help EVs to accelerate and climb elevated areas.

According to the report, in some countries, drivers of BEVs are exempted from having a driver's license to operate them. Governments and local bodies in China, Japan, India, and Germany have promoted this as an incentive to boost the growth of the global BEV market. Quadricycles have now become a preferred mode of transportation for the elderly in Europe. The benefit of this is that it saves them from the hassle of renewing their driving license. Quadricycles have attracted many consumers, particularly in countries such as the UK, Germany, France, and Sweden. Thus, these government subsidies and incentives are leading to high BEV sales, which is expected to drive the demand for EV traction motors.

Further, the report states that the shortage of raw materials for manufacturing traction motors is also a serious challenge hindering the growth of the market.

Key vendors 

  • Aisin Seiki
  • Continental
  • Magna International
  • Remy International
  • Robert Bosch

Other prominent vendors 

  • AC Propulsion
  • Brose Fahrzeugteile
  • Siemens
  • UQM Technologies

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SOURCE Research and Markets