Traction Motor - Automotive Motor Market, 2021 - 2028
The global traction motor automotive motor market size was valued at US$ 2,952.8 million in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 8% from 2021 to 2028.
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Traction motor - Automotive motor market highlights
- The global traction motor segment generated a revenue of USD 2,952.8 million in 2021 and is expected to reach USD 5,061.1 million by 2028.
- The market is expected to grow at a CAGR (2022 - 2028) of 8.1% by 2028.
- In terms of region, Asia Pacific was the largest revenue generating market in 2021.
- Country-wise, China is expected to register the highest CAGR from 2022 to 2028.
Market summary
| Market revenue in 2021 | USD 2,952.8 million |
| Market revenue in 2028 | USD 5,061.1 million |
| Growth rate | 8.1% (CAGR from 2022 to 2028) |
| Historical data covered | 2017 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2028 |
| Quantitative units | Revenue in USD million |
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Automotive Motor Market Scope
Automotive motor market segmentation & scope
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