There is an increasing demand and the trend for electrification of the vehicle in the automotive
industry, which is in the demand for electrical components also. Automotive industry has major
driver factor for the growth of the market in the traction motors markets i.e. new developmental
technologies such as increase in the regenerative brakes, and increase in R&D for specific
requirements which is based on the traction motor application. Also, there is increase in awareness
or emission reduction of the vehicle which are steering the growth and the demand of the traction
motors market. There are technologies like hybrid vehicle technology that are steering the growth
of the traction motor market during the predicted period. Traction Motor Market is segmented, By
Product Type Permanent Magnet Motor, AC Induction Motor, and other Types. Traction Motor
Market is segmented, By Applications Commercial Vehicles, Transportation, Passenger Cars, and
others.
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There are various applications of the traction motor industry. The Development in vehicles
technology such as hybrid vehicle, where the generation of the power and the transmission takes in
the electric mode of the traction motors. The electric mode is taken the lead in the traction motor
market. The property of the traction motor is high in efficiency and the unique proposition leading
across various applications. Traction Motor Market is segmented, By Geographical Region the North
American region consists of the U.S., and Canada. Latin America region consists of Mexico and
Brazil. The Western European region consists of Germany, Italy, France, England and Spain. The
Eastern European region consists of Poland and Russia. Asia Pacific region consists of China, India,
ASEAN, Australia & New Zealand. The Middle East and Africa region consists of GCC, South Africa
and North Africa.
The market in the regional segment, Asia-Pacific is high which is expected to witness a higher
production of the traction motors, which is due to the automobile sector sale. The growth of the
market is high during this forecast period, and the countries like China, South Korea, are fueling the
growth of the market. There is growth in the North America sector due to the high amount of the
industrialization in this sector so that the growth of this market during forecast period is high in