Electric light commercial vehicle traction motor refers to a type of mechanism designed to produce resistance between two surfaces for extracting electricity from the battery pack of the vehicle, thereby, providing rotation torque for the light commercial vehicles. The traction motor is considerably effective when compared to the non-electric systems which offers various benefits such as zero smoke generation and quick start & stop. Furthermore, various stringent emission discharge norms & regulations such as Bharat stage emission standards (India) and others drives the demand for electric light commercial vehicle (ELCV). Moreover, decline in ELCV prices due to government provided subsidies & reduced price of battery, quick expansion of EV commercial charging structure, accessibility to ultra-fast chargers and anticipated restrictions over fuel-powered vehicles further fuel the demand for EVs. Therefore, rising demand for electric light commercial vehicle is expected to drive the market growth for global electric light commercial vehicle traction motor.
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COVID-19 scenario analysis:
- Majority of global electric light commercial vehicle traction motor manufacturers are facing major issues such as shutdown of all operations and low production productivity due to the government declared lockdown, which further affects the production of the electric light commercial vehicles as well.
- Electric light commercial vehicle is an evolving industry, which has been currently hampered due to the unavailability of workforce owing to the spread of the coronavirus which in turn have disrupted the production and installation of electric light commercial vehicle traction motor across the affected countries.
- An unprecedented global disruption owing to the covid-19 outbreak is observed in the electric light commercial vehicle traction motor market which in turn has caused an uncertainty towards the demand and supply network for the LCV traction motor manufacturers.
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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Rising adoption of electric vehicles, increase in demand for effective power renovation, and non-stable prices of crude oil drive the growth of the global market. However, overheating of EV traction motors and fluctuating prices of input components are expected to hamper the growth of the market. Contrarily, designing better speed estimator creates favourable condition for the adoption of electric vehicles, which provides lucrative opportunity for the market growth.
The global electric light commercial vehicle traction motor market trends are as follows:
Overheating of electric light commercial vehicle traction motor
Due to the resistance generated by the traction motor using electricity from the battery pack, a huge amount of electrical overload is caused to the mechanical equipment. Hence, generating higher amount of heat from the friction. Furthermore, excessive heat causes rapid deterioration, corrosion and failure of the traction motor. For instance, Robert Bosch have qualified almost 60 percent of light commercial vehicle motor failure are caused by overheating while generating torque for the wheels. Therefore, the rise in overheating of electric light commercial vehicle traction motor is anticipated to hamper the market growth for electric light commercial vehicle traction motor market in the near future.
Key benefits of the report:
- This study presents the analytical depiction of the electric light commercial vehicle traction motor industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the electric light commercial vehicle traction motor market.
- The current market is quantitatively analyzed to highlight the electric light commercial vehicle traction motor market growth scenario.
- We can also determine electric light commercial vehicle traction motor will remain a significant revenue shareholder in the global electric light commercial vehicle traction motor market through the predictable future.
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Questions answered in the global electric light commercial vehicle traction motor market research report:
- Which are the leading market players active in electric light commercial vehicle traction motor market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Electric Light Commercial Vehicle Traction Motor Market Report Highlights
| Aspects | Details |
| By Power Rating | Below 200 Kilowatt (kw) 200 – 400 Kilowatt (kw) Above 400 Kilowatt (kw) |
| By Type | Alternating Current (AC) Direct Current (DC) |
| By Region | North America (US, Canada, Mexico) Europe (Germany, France, UK, Italy, rest of Europe) Asia-Pacific (China, Japan, India, South Korea, rest of Asia-Pacific) LAMEA (Brazil, Turkey, Saudi Arabia, South Africa, rest of LAMEA) |
| Key Market Players | Siemens AG, Robert Bosch AG, Zhongshan Broad-Ocean Motor Co. Ltd., Valeo SA, Toshiba Group, Continental AG, ZF Group, BorgWarner Inc., Remy Group, ABB |
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