The Electric Vehicle Traction Motor Market is projected to grow to $92.26 billion by 2030

The Business Research Company

The Business Research Company’s Electric Vehicle Traction Motor Global Market Report 2026 - Market Size, Trends, And Global Forecast 2026-2035

The Business Research Company’s Electric Vehicle Traction Motor Global Market Report 2026 - Market Size, Trends, And Global Forecast 2026-2035”

— The Business Research Company

LONDON, GREATER LONDON, UNITED KINGDOM, January 26, 2026 /EINPresswire.com/ -- The electric vehicle traction motor market is witnessing remarkable expansion, driven by technological advancements and a shift towards sustainable transportation solutions. As demand for electric and hybrid vehicles continues to rise globally, this sector is positioned for rapid growth in the coming years. Let’s explore the market’s size, key growth drivers, regional performance, and emerging trends shaping its future.

Strong Growth Trajectory Expected in the Electric Vehicle Traction Motor Market
The electric vehicle traction motor market has experienced significant growth in recent years. It is projected to increase from $17.77 billion in 2025 to $24.83 billion in 2026, representing a compound annual growth rate (CAGR) of 39.7%. This historic growth can be linked to early advancements in electric traction systems for railways, escalating demand for hybrid and electric passenger cars, enhancements in motor efficiency and power density, a rise in renewable-powered transport, and expanding automotive electrification initiatives.

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Market Size Forecast and Emerging Opportunities in Electric Vehicle Traction Motors
Looking ahead, the market is expected to expand even more rapidly, reaching $92.26 billion by 2030 with a CAGR of 38.8%. This forecasted surge is underpinned by increased production of battery electric vehicles, wider adoption of rare earth-free motor technologies, growth in high-performance motors tailored for commercial fleets, and advancements in connected and intelligent motor control systems. Additional trends fueling this expansion include the development of high-efficiency permanent magnet motors, integration of motor and inverter systems, growing demand for lightweight and compact motor designs, focus on improved thermal management solutions, and the rise of high-voltage motor applications in heavy-duty vehicles.

Understanding the Role of Electric Vehicle Traction Motors
Electric vehicle traction motors play a critical role by converting electrical energy into mechanical energy to drive the vehicle’s wheels. Some vehicle systems use motor generators capable of both propulsion and energy regeneration. Essentially, these motors provide the necessary power to overcome forces like aerodynamic drag, rolling resistance, and kinetic resistance, enabling the vehicle to move efficiently.

View the full electric vehicle traction motor market report:
https://www.thebusinessresearchcompany.com/report/electric-vehicle-traction-motor-global-market-report

Increasing Hybrid Electric Vehicle Sales Boosting Market Growth
The surge in hybrid electric vehicle sales is a major factor propelling the traction motor market forward. Hybrid vehicles combine an internal combustion engine with an electric propulsion system, relying heavily on traction motors for their operation. For example, data from the U.S. Department of Energy shows that plug-in electric vehicle sales in the United States rose from 6.8% of all light-duty vehicle sales in 2022 to 9.1% in 2023—an increase of 2.3 percentage points in market share. This upward trend in hybrid vehicle adoption is expected to drive substantial demand for electric traction motors throughout the forecast period.

Regional Outlook Highlights Asia-Pacific and North America
In 2025, Asia-Pacific held the largest share of the electric vehicle traction motor market, underscoring the region’s leadership in electric mobility adoption. Meanwhile, North America is anticipated to be the fastest-growing market in the coming years. The comprehensive market analysis encompasses regions including Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, providing a broad perspective on global growth patterns.

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