comparemela.com

Latest Breaking News On - Automotive traction motor market - Page 2 : comparemela.com

MarketsandMarkets: Automotive Traction Motor Market worth $18 4 billion by 2027

The Worldwide Automotive Traction Motor Industry is Expected to Reach $17 3 Billion by 2026 at a CAGR of 33 7% from 2021

Share this article Share this article ResearchAndMarkets.com s offering. The global automotive traction motor market is projected to grow at a CAGR of 33.7% from USD 4.1 billion in 2021 to USD 17.3 billion by 2026. Factors such as supporting government policies launch of new EV models, and advanced motor designs will drive the automotive traction motor market. The electric vehicle industry has rapidly evolved with ongoing developments in design, features, engineering, and electric motor technologies. With the increasing stringency of government mandates regarding emissions caused by vehicles, the automotive industry is focusing on efficiency, emission-free propulsion, and innovative technologies. The high predicted growth of electric vehicles due to government mandates and global presence of major OEMs and Tier I suppliers is expected to drive the market.

© 2024 Vimarsana

vimarsana © 2020. All Rights Reserved.