Automotive Traction Motor Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
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An automotive traction motor is generally used in electric vehicles and full hybrid vehicles for the propulsion of the vehicle on pure electric power. The traction motor is considered as the heart of electric and hybrid vehicles. An automotive traction motor can also act as a generator; however, in motor mode, it converts electric energy from the battery into mechanical energy, and in generator mode, it converts mechanical energy into electrical energy such that the kinetic energy released during deceleration of the vehicle is converted into electrical energy and is utilized to charge the battery.
Increasing concerns toward the environment and support of governments for the production and purchase of electric and hybrid vehicles are expected to drive the of the automotive traction motor market at significant pace. The development of substitutes is likely to be a key restraint for the automotive traction motor market.
The automotive traction motor market can be segmented based on presence of the brush, connection type, operating current, vehicle type, and region.
Based on type of connection, the automotive traction motor market can be segregated into series connection and parallel connection. The series connection of the motors is applied for slow operation and heavy loads, it provides higher torque at low speed. Parallel connection is utilized when the desired speed is higher, as the parallel connection provides higher voltage at each motor and hence, allows higher speeds.
In terms of operating current, the automotive traction motor market can be classified into AC operated traction motor and DC operated traction motor. AC operated traction motor is generally utilized in locomotives and is generally not employed in automobiles due to its fixed speed characteristics; however an AC operated motor has a simple construction and requires less maintenance and requires less maintenance. DC operated traction motors employ direct current for their operation. DC operated traction motors require higher maintenance and comparatively and have a robust construction.
Based on type of vehicle, the automotive traction motor market can be segregated into passenger vehicles and commercial vehicles. The passenger vehicles segment can be further sub-segmented into hatchbacks, sedans, and multi utility vehicles, where hatchbacks and sedans are lighter than multi utility vehicles. The commercial vehicles segment can be further split into light commercial vehicles, heavy commercial vehicles, and buses & coaches.
In terms of region, the automotive traction motor market can be segmented into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. The global automotive traction motor market is estimated to expand at a prominent growth during the forecast period. Asia is a significant market for automotive traction motors, followed by Europe. The market is expected to expand in all the regions at a high growth rate due to the increasing focus of the global automotive industry toward electric vehicles.
Key players operating in the global automotive traction motor market include Robert Bosch GmbH, Aisin, Continental AG, Magna International, Magnetic Systems Technology, dSPACE GmbH, SKF, Zytek Group Limited, MAGicALL, Inc., and MITSUBISHI ELECTRIC CORPORATION.
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