Electric Vehicle (EV) Traction Motor Market Values, Size, Share | Growth Report 2034

 Nice — here’s a concise, source-backed brief for the Electric Vehicle (EV) Traction Motor Market, organized under your requested headings and with company references and numeric values where available. I used recent company reports and market research so you can plug these numbers directly into slides or a report.

This versatile research report is presenting crucial details on market relevant information, harping on ample minute details encompassing a multi-dimensional market that collectively maneuver growth in the global Electric Vehicle (EV) Traction Motor market.

This holistic report presented by the report is also determined to cater to all the market specific information and a take on business analysis and key growth steering best industry practices that optimize million-dollar opportunities amidst staggering competition in Electric Vehicle (EV) Traction Motor market.

Read complete report at: https://www.thebrainyinsights.com/report/electric-vehicle-ev-traction-motor-market-12626

Recent developments

  • Market size estimates for 2024 vary by vendor: Grand View Research reports USD 12.57 billion (2024) for the EV traction motor market; IMARC Group reports USD 15.65 billion (2024); The Business Research Company gives a similar mid-teens figure and projects rapid year-on-year growth into 2025. 

  • OEM & Tier-1 consolidation and vertical integration continue: large motor specialists and auto suppliers are expanding e-axle / e-motor capacity as OEM electrification commitments accelerate. Examples: Nidec’s ramp of traction motor / e-axle production and major suppliers (Bosch, ZF, BorgWarner, Valeo, Denso) pushing electric-drive portfolios. 

Drivers

  • Faster EV adoption (passenger cars, light commercial vehicles), driven by policy incentives and OEM EV programs, increases demand for traction motors. 

  • Technical drivers: improved motor efficiency, integration (e-axles), higher use of permanent-magnet & induction motors, and OEM preference for compact, high-power-density designs. 

Restraints

  • Raw-material constraints and price volatility for magnets (rare earths) and copper—which affect traction motor costs and supplier margins.

  • Near-term EV demand softness/market cyclicality (noted in 2025 sales slowdowns in some regions) can create capacity under-utilization risk for suppliers. 

Regional segmentation analysis

  • Asia-Pacific (especially China) dominates demand and manufacturing footprint — many market reports show APAC as >50% market share in 2024. China is both the largest EV market and a major motor supplier. North America and Europe are important for high-value e-drive systems and for Tier-1 suppliers.

Emerging trends

  • Rise of integrated e-axles (motor + inverter + gearbox) supplied as modules.

  • Move toward liquid-cooled/high-power e-motors for higher density and sustained performance (e.g., performance EVs, commercial vehicles).

  • Increased use of software & sensors in traction motors for predictive maintenance and efficiency optimization.

Top use cases

  • Battery electric passenger vehicles (BEVs) — single and dual motor drivetrains.

  • Commercial vehicles & buses — high-torque traction motors and robust thermal management.

  • Two-/three-wheelers and off-highway electrification in EM-dense markets (Asia, India).

Major challenges

  • Competition & margin pressure as many suppliers scale up capacity (overcapacity risk in some regions).

  • Supply chain risk around rare-earth magnets and strategic geopolitics (magnet sourcing and China’s role).

  • Integration/compatibility requirements from OEMs (long qualification cycles for new motor designs).

Attractive opportunities

  • Value-added e-axles and turnkey electric drive modules sold to OEMs that want faster electrification without in-house motor development.

  • Commercial vehicle electrification (last-mile delivery, buses, trucks) where higher margins and specialized motor designs are required.

  • Retrofit / aftermarket electrification solutions and mobility platforms (fleet electrification programs).

Key factors of market expansion

  • EV penetration rates (policy & incentive trajectories).

  • Cost declines in magnets, power electronics, and integration efficiencies.

  • OEM outsourcing strategies (whether automakers keep motor design in-house or buy modules from Tier-1s).

Company references (with values / notes)

Below are major companies that supply EV traction motors / e-drive systems and recent public numeric figures (company totals or clearly related financials). Where manufacturers do not publicly break out a “traction-motor” line, I cite consolidated sales or relevant disclosures so you can gauge scale and relevance.

  1. Nidec Corporation — consolidated net sales reported at ¥2,347.2 billion (FY2023) in Nidec’s Integrated Report 2024; Nidec is aggressively expanding traction motor (e-axle) capacity and has publicly discussed mass production ramps for traction motor systems. 

  2. Bosch Group — total sales ≈ €90.3–90.5 billion (2024); Bosch is a major global supplier of electric drives and e-motor systems (powertrain / electric drive product lines). Use Bosch segment reporting to allocate EV-relevant sales.

  3. ZF Friedrichshafen — reported €41.4 billion sales (FY2024); ZF supplies electric motors and power electronics for passenger and commercial vehicles and is broadening its electric-drive portfolio.

  4. BorgWarner — FY2024 net sales reported roughly US$14.1 billion; BorgWarner’s e-propulsion and e-motors (plus inverters) are key parts of its EV transition. (Company investor presentations and 2024 results detail EV product revenue segments).

  5. DENSO — consolidated revenue ¥7,144.7 billion (FY2024); DENSO is a significant supplier of electrification components (motors for hybrid and electric drivetrains) and invests in e-motor tech.

  6. Valeo — full-year sales €21.5 billion (2024); Valeo is active in e-drive systems (including e-motors and inverters) and supplies modular electric drive solutions.

  7. BYD (and major automakers with in-house motor production) — BYD reported ~RMB 777.1 billion revenue (2024) and builds many drivetrain components internally (BYD is vertically integrated, producing its own motors for its large EV volumes). BYD (and other OEMs such as Tesla, some legacy OEMs) therefore represent both demand and in-house supply dynamics.

Notes:

  • Many Tier-1 suppliers disclose only broad segment revenues (powertrain or mobility) rather than an explicit “traction motor” line; the values above are therefore company-level figures that indicate scale and capacity to supply EV traction motors. Use each supplier’s investor presentation or segment notes to allocate EV-drive share where needed.

Short recommended next steps (I can produce immediately)

Pick one and I’ll create it for you right now (I’ll include the source links used above):

  1. A 1-page Excel/CSV listing the companies above with the cited numeric values and direct source links.

  2. A 900–1,200 word market overview with embedded web citations and a short SWOT for the top 5 suppliers.

  3. Regional breakdown (APAC / Europe / North America / RoW) with the market-size numbers from 2–3 market reports side-by-side for easy slide/chart creation.

Which one would you like me to generate now?

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