Electric Commercial Vehicle Traction Motor Market Size, Share & Trends [2030]
The global electric commercial vehicle traction motor market size was valued at USD 2.1 billion in 2024 and is expected to reach USD 9.8 billion by 2030, at a CAGR of 28.8%, during the forecast period 2024-2030. The traction motor market for Electric Commercial Vehicles (ECVs) has witnessed substantial growth in recent years, driven by several key factors. With the increasing focus on environmental...
Electric Commercial Vehicle Traction Motor Market Projected to Reach $9.8 Billion by 2030
The global electric commercial vehicle traction motor market is projected to grow from USD 2.1 Billion in 2024 to USD 9.8 Billion by 2030, registering a CAGR of 28.8%. The market for ECV traction motors, the engines that propel electric commercial vehicles, is experiencing significant growth. A confluence of factors is driving this surge. The rising popularity of electric commercial vehicles themselves...