March 2025
Senior Research Analyst
Reviewed By
The electric commercial vehicle traction motor market is forecasted to expand from USD 2.76 billion in 2025 to USD 26.97 billion by 2034, growing at a CAGR of 28.84% from 2025 to 2034.
The electric commercial vehicle traction motor market is a prominent segment of the electric vehicle industry. This market deals in manufacturing and distribution of traction motors for commercial EVs. There are different types of traction motors developed in this sector consisting of permanent magnet synchronous motors, AC induction motors, DC traction motors and some others. These motors are designed for various types of vehicles including pickup trucks, trucks, vans, buses and some others. The growing sales of electric trucks in different parts of the world has boosted the market expansion. This market is expected to grow significantly with the rise of the automotive industry around the globe.
Metric | Details |
Market Size in 2024 | USD 2.14 Billion |
Projected Market Size in 2034 | USD 26.97 Billion |
CAGR (2025 - 2034) | 28.84% |
Leading Region | Asia Pacific |
Market Segmentation | By Vehicle Type, By Power Output, By Motor Type, By Design, By Transmission, By Axle Architecture and By Region |
Top Key Players | Allison Transmission, Inc, BYD, Dana Limited, Mercedes-Benz Group AG, GEM Motors, BorgWarner Inc., Magna International Inc., Robert Bosch GmbH |
Notable Industry Trends | AI & IoT integration in commercial EVs, growing traction motor investments |
In October 2024, Michael Briggs, the President at Nidec Motion & Energy announced that,” Our investment strategy and motor technology are well complemented by Ashok Leyland, who understand the precise and specific demands of the commercial vehicle market.”
Asia Pacific held the largest share of the electric commercial vehicle traction motor market. The growing investment in the electric vehicle components industry by established companies and startups has driven the market expansion. Also, the presence of numerous automotive brands such as Toyota, BYD, Tata Motors, Mahindra and some others is crucial for the market expansion. Moreover, the integration of advanced technologies such as AI and IoT in automotive sector in countries such as China, India, Japan and some others has boosted the growth of the electric commercial vehicle traction motor market in this region.
The electric commercial vehicle traction motor market is a fragmented industry with the presence of numerous dominating players. Some of the crucial players in this industry consists of Allison Transmission, Inc, BYD, Dana Limited, Mercedes-Benz Group AG, GEM Motors, BorgWarner Inc., Magna International Inc., Robert Bosch GmbH, Traton SE, Flash and some others. These companies are constantly engaged in developing traction motors for commercial EVs and adopting different strategies to maintain their dominance in this industry.
By Vehicle Type
By Power Output
By Motor Type
By Design
By Transmission
By Axle Architecture
By Region
March 2025
March 2025
March 2025
March 2025
Dr. Arjun Patel is a distinguished expert in the automotive industry, holding advanced degrees in Automotive Engineering and Mechanical Engineering. His expertise spans automotive market dynamics, technological advancements, and sustainable practices. Dr. Patel excels in conducting in depth research and analysis on market trends, consumer preferences, and the economic implications within the automotive sector. He is renowned for his insightful publications on topics such as electric vehicles, autonomous driving technologies, and the evolution of sustainable transportation solutions. Dr. Patels research contributions have significantly advanced understanding in the field, earning him recognition as a leading authority in automotive research and analysis.
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