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Monday, February 23, 2026

Lucintel Forecasts the Global EV Traction Motor Market to Grow with a CAGR of 19% from 2025 to 2031

According to a market report by Lucintel, the future of the global EV traction motor market looks promising with opportunities in the BEV and PHEV markets. The global EV traction motor market is expected to grow with a CAGR of 19% from 2025 to 2031. The major drivers for this market are the increasing adoption of electric mobility solutions, the rising demand for high efficiency drivetrains, and the growing investment in electric vehicle production.

A more than 150-page report to understand trends, opportunity and forecast in global EV traction motor market to 2031 by type (AC induction motor and permanent magnet motor), application (BEV and PHEV), and region (North America, Europe, Asia Pacific, and the Rest of the World).

Lucintel forecasts that, within the type category, permanent magnet motor is expected to witness higher growth over the forecast period.

Within the application category, BEV is expected to witness higher growth.

Download sample by clicking on EV traction motor market.

In terms of region, APAC is expected to witness the highest growth over the forecast period.

BMW, Fukuta Motor, Broad-Ocean, BYD, Nissan, Continental AG, Jing-Jin Electric Technologies, ZF, Groupe Renault, Toyota are the major suppliers in the EV traction motor market.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email:
roy.almaguer@lucintel.com
Tel. +1-972-636-5056

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