Automotive Traction Motor Market to Hit $18.4 Billion by 2027
The global automotive traction motor market is projected to grow by CAGR 22.8% from USD 6.5 billion in 2022 to USD 18.4 billion by 2027. Increasing demand of EV’s, increasing manufacturing of high performance motors across the globe, and supporting government policies are factors responsible to drive the automotive traction motor market.
Asia pacific is expected to be the largest automotive traction...
Automotive Traction Motor Market: Trends and Developments
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.
With the increasing stringency of government mandates regarding emissions caused by vehicles, the automotive industry focuses on efficiency, emission-free propulsion, and innovative technologies. With the increasing adoption of electric vehicles and improved...