Electric Vehicles Research
Jun 5, 2013
Electric traction motors for EVs see 17.4% CAGR over next decade
All electric vehicles have at least one traction motor, so the market for electric vehicle traction motors is one of the largest markets for electric vehicle parts and a primary determinant of the performance and affordability of a given vehicle. Indeed, IDTechEx Research finds that in 2013 44.6 million electric motors will be needed for vehicles, rising to 147.7 million in 2023.