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Global Electric Vehicle Traction Motor Market to Register Steady Expansion During 2026

Global Electric Vehicle Traction Motor Market to Register Steady Expansion During 2026
[85 Report Pages]This market research report includes a detailed segmentation of the global Electric Vehicle Traction Motor
BriefingWire.com, 5/05/2021 -
[85 Report Pages]This market research report includes a detailed segmentation of the global Electric Vehicle Traction Motor market by motor type (Synchronous Motor, Induction Motor), motor capacity (
Electric Vehicle Traction Motor Market Overview:
The global electric vehicle (EV) traction motor market is expected to witness significant growth during the forecast period. The market is driven by increasing government initiatives on electric vehicle adoption, increasing focus on expanding electric vehicle charging infrastructure, and growing preference for electrification of the public fleet. Electric vehicles are equipped with an electric motor for propulsion of the vehicle. T ....

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The Worldwide Automotive Traction Motor Industry is Expected to Reach $17.3 Billion by 2026 at a CAGR of 33.7% from 2021

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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. ....

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