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The Global EV Traction Motor Market size is estimated to grow by USD 2.71 billion, at a CAGR of 8.12% between 2023 and 2028. The growth of the market depends on several factors such as increasing sales of EVs, decreasing prices of lithium-ion battery boost adoption of electric cars, and advantages of EV traction motors. Significant market growth is attributed to the efficiency and operational advantages of Electric Vehicles (EVs). Traction motors, known for their high torque capabilities, not only enhance vehicle performance but also contribute to extended range and improved fuel efficiency. Innovations such as Nidec's E-Axle system, integrating traction motors with inverters and reducers, have gained traction since mass production commenced in 2019. Particularly in China, a prominent EV market, models equipped with E-Axle systems are gaining popularity. With consumer preferences shifting towards high-performance vehicles, modern all-electric cars are emerging as formidable competitors to internal combustion engine counterparts in terms of speed and acceleration, further propelling market expansion. It also includes an in-depth analysis of drivers, trends, and challenges.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Power Rating
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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