Electric Vehicle Traction Motor Market Is Potentially Boosting Up the Economy with Revenue $19.8 Billion By 2025 “The global electric vehicle traction motor market size is anticipated to value USD 19.8 billion until 2025. It is also expected to register a CAGR of 41.6% over the forecasted years, 2019 to 2025. The rising demand for EVs across the globe coupled with the huge investments in R&D activities for enhancing efficiency and operational performance of electric vehicles is expected to trigger the market growth of traction motors.”
Electric Vehicle Traction Motor Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the Electric Vehicle Traction Motor market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. Electric Vehicle Traction Motor Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the Electric Vehicle Traction Motor Market forecast. The Electric Vehicle Traction Motor Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, AsiaPacific, Europe, the Middle East, and Africa regions. The global electric vehicle traction motor market size is anticipated to value USD 19.8 billion until 2025. It is also expected to register a CAGR of 41.6% over the forecasted years, 2019 to 2025. The rising demand for EVs across the globe coupled with the huge investments in R&D activities for enhancing efficiency and operational performance of electric vehicles is expected to trigger the market growth of traction motors. These traction motors form an integral part of all-electric vehicles. Further, the imposition of regulatory norms by governments of various countries is projected to upsurge the demand for EVs. Also, subsidies provided for purchasing EVs along with higher fuel efficiency as compared to conventional vehicles is anticipated to boost the demand for traction motors.
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